Examlex
In the production function Real GDP = T (L,K),the T stands for tax coefficient.
Annual Family Income
The total amount of money earned by all members of a family within one year.
Income Distribution
The way in which total income is shared amongst the members of a society, often analyzed to understand the extent of economic inequality.
Before-Tax Income
The total income earned by an individual or corporation before taxes have been deducted.
Welfare Reforms
Changes or amendments to a country’s welfare policy aimed at improving the effectiveness and efficiency of its social security and aid programs.
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