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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

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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