__________ is understanding through the use of common sense based on observation

Laissez-faire in French means to "leave alone." It describes the theory that an economic system works best when free of government interference

Indicate whether the statement is true or false

The government has committed itself not only to simply solving problems in the economy, but also to assuming a key role in the nation's economic system by

A) regulating business. B) giving economic support to the unemployed, the poor, and retired persons. C) using the government's taxing and spending powers to try to control the business cycle-the level of unemployment and inflation. D) all of the above. E) none of the above.