Which of the following reflects the type of economic system found in the United States?
a. socialism, in which economic decisions are made by the government
b. regulated capitalism, in which business has substantial freedom from government interference, but the government does step in and regulate the economy to guarantee individual rights
c. pure capitalism, in which all means used to produce material resources are privately owned
d. pure laissez-faire capitalism, in which the government has no economic role at all
e. social democracy, in which government plays an enormous role in ensuring substantive guarantees of fair outcomes for all citizens
b. regulated capitalism, in which business has substantial freedom from government interference, but the government does step in and regulate the economy to guarantee individual rights
You might also like to view...
The killings at Columbine High School had no real effect on any debate concerning gun control
Indicate whether the statement is true or false.
What was the impact of the Sherman Anti-Trust Act in its first eighty years?
a) Corporations ceased engaging in monopolistic practices. b) Only three executives guilty of antitrust violations received prison time. c) It led to a dramatic increase in the level of public trust in the government. d) Thousands of corporate executives were convicted of antitrust violations and given substantial prison terms.