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Economics

Suppose Country A has the same GDP as Country B, and that neither nation's residents own factors of production used by foreign firms, nor do either nation's firms use factors of production owned by foreign residents. Suppose that, relative to Country B, depreciation, indirect business taxes, and personal income taxes in Country A are high, while welfare and Social Security payments to households in Country A are relatively low. Which country has the higher disposable personal income? Why?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9684755

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