According to Critics,centrally Planned Economies Fail to Attain Pareto Optimality

question 34

Multiple Choice

According to critics,centrally planned economies fail to attain Pareto optimality because of:

• A)the difference in the interests of the policy makers and the public.
• B)the lack of efficient and skilled manpower in centrally planned economies.
• C)the inability of policy makers to accommodate the changing information about costs and demand of producers and consumers.
• D)the unmanageable size of the economies that makes planning too difficult.

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The amount of an employee's earnings after all deductions, such as taxes and retirement contributions, have been subtracted.

Allowance or Exemption

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Income or transactions that are not subject to taxation by government authorities.

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The part of the U.S. payroll tax that funds the Social Security program, officially called Old Age, Survivors, and Disability Insurance.