Homework answers / question archive / 1 Economic policy What does it mean for an allocation to be Pareto optimal? What does it mean for an allocation to be fair in the context of Pareto optimality? 2   Governments have a budget deficit if: Government expenditures are greater than tax revenue Consumption expenditures are greater than income Consumption expenditures are greater than tax revenue O Government expenditures are less than tax revenue

1 Economic policy What does it mean for an allocation to be Pareto optimal? What does it mean for an allocation to be fair in the context of Pareto optimality? 2   Governments have a budget deficit if: Government expenditures are greater than tax revenue Consumption expenditures are greater than income Consumption expenditures are greater than tax revenue O Government expenditures are less than tax revenue

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1 Economic policy

1. What does it mean for an allocation to be Pareto optimal?
2. What does it mean for an allocation to be fair in the context of Pareto optimality?

2  

Governments have a budget deficit if: Government expenditures are greater than tax revenue Consumption expenditures are greater than income Consumption expenditures are greater than tax revenue O Government expenditures are less than tax revenue