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Consider an income guarantee program with an income guarantee of 5,000 and a benefit reduction rate of 40 %. A person can work up to 2,000 hours per year at 10 per hour. a. Draw the person's budget constraint with the income guarantee. b. Suppose that the income guarantee rises to 7,500 but with a 60 % reduction rate. Draw the new budget constraint. c. Which of these two income guarantee programs is more likely to discourage work? Explain. d. Draw a system of smooth indifference curves that b
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World's leading T20I batsman, Suryakumar Yadav guarantees a solid strike rate on the field. Similarly, the ICICI Pru Guaranteed Income For Tomorrow (Long-term) plan guarantees* a regular income to fulfil your family's dreams Tax-free¹ till March 31, 2023 Visit: https://bit.ly/3mBvMr7 *Conditions apply ¹Returns will be taxable if policy is purchased on or after April 1, 2023, if aggregate premium is more than ₹ 5 lakh p.a. #suryakumaryadav #t20 #guaranteedincome #stayprotected #iciciprulife #life
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