Question
Which of the following represents an important difference between the U.S. and a socialist economy? Group of answer choices a. In a socialist system, the
Which of the following represents an important difference between the U.S. and a socialist economy?
Group of answer choices
a. In a socialist system, the government conducts extensive research activities; in the U.S., it does not.
b. In a socialist system, the government decides how much of each kind of good is to be produced; in the U.S., this is left entirely to business firms.
c. The U.S. is an example of pure capitalism; a socialist system is an example of mixed capitalism.
d. The socialist system relies more heavily on markets to answer the basic economic questions.
e. In the U.S., most forms of capital are available to private ownership; in a socialist system, they are generally not.
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