The U.S. has a mixed economy because
A. the government helps in answering the three basic questions of economics: what, how and for whom.
B. the laissez faire market system lacks government intervention.
C. all goods and services are provided privately.
D. the central planning body makes all market decisions.
A. the government helps in answering the three basic questions of economics: what, how and for whom.
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Incentive-based regulations:
a. set an environmental goal, but are flexible on how to achieve the goal. b. obtain more efficiency gains is obtainable from CAC regulations. c. effluent taxes are an example of incentive-based regulations. d. all of the above are true. e. none of the above are true.
Which of the factors below contributed to the collapse of the Phillips curve in the 1970s?
a. Economic research proved there was no relationship between inflation and unemployment rates. b. The U.S. government was running triple-digit deficits in the 1970s, compounding the normal shifts in aggregate demand. c. The 1970s were full of adverse supply shocks such as the oil price increases of 1973-1974. d. The aggregate demand curve shifted to the left at the end of the Vietnam War.