Examlex
Which of the following is NOT believed to cause recent increases in wage inequality?
Equity
The concept of fairness in economics, which can refer to the distribution of wealth, income, or resources within a society.
Efficiency
The optimal use of resources to achieve the desired ends with minimal waste or expense; often relates to economic efficiency where resources are allocated in a way that maximizes the net benefit to society.
Tax System
The structured method and principles a government uses to collect taxes from individuals and businesses, which can vary in complexity and types of taxes imposed.
Efficiency
Efficiency in economics refers to the optimal allocation and use of resources to maximize output without wasting any resources.
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