In a Centrally Planned Economic System,who Decides What and How

question 140

Multiple Choice

In a centrally planned economic system,who decides what and how much will be produced?

• A)Consumers
• B)Privately owned businesses
• C)The government
• D)The people,by referendum every five years
• E)Consumers and producers together,guided by the market

---

Definitions:

Straight-Line Depreciation

A method of calculating the depreciation of an asset, which evenly spreads the depreciable amount over the expected useful life of the asset.

After-Tax Salvage Value

The net value of a disposed asset after accounting for taxes on its sale.

Tax Rate

The fraction of earnings taxed from a person or a company.

CCA Class

Refers to categories in the Capital Cost Allowance system where assets are grouped according to their nature and function for tax depreciation purposes in Canada.