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One Tradeoff Society Faces Is Between Efficiency and Equity

question 20

Essay

One tradeoff society faces is between efficiency and equity. Define each term. If the Canadian government redistributes income from the rich to the poor, explain how this action affects equity as well as efficiency in the economy.


Definitions:

Cash Over

This term indicates a situation where the actual amount of cash exceeds the expected or recorded amount, often in a cash register or in accounting records.

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