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Efficient solutions to solving externality problems:
Social Planner
A theoretical figure in economics who makes decisions aimed at achieving the best outcomes for society as a whole, often used in discussions of social welfare and public goods.
Total Income
The sum of all earnings received by an individual or entity, including wages, salaries, profits, rental income, investment returns, and other sources.
Political Philosophies
The study of questions about government, politics, liberty, justice, property, rights, law, and the enforcement of a legal code by authority.
Cox and Alm
Researchers known for their work in economics, often studied in the context of tax policies and their economic impacts.
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