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3. Suppose a household receives a wage income of $4,000 a month, and receives $400 in transfers and pays $800 in taxes per month. Then

3. Suppose a household receives a wage income of $4,000 a month, and receives $400 in transfers and pays $800 in taxes per month. Then the household's ......................income (the income after paying taxes and receiving transfers) would be equal to $3,600 per month.

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