Asked by taylor harrington on May 05, 2024
Verified
In the United States and in most other developed capitalist economies,the government
A) typically plays a significant role in allocating resources and redistributing income.
B) serves to enforce property rights,but plays no role in the allocation of society's resources.
C) is primarily concerned with central planning.
D) employs less than 1% of the labor force.
E) None of the choices are true.
Developed Capitalist Economies
Advanced economies with established financial markets, high levels of industrialization, and significant capital accumulation.
Allocating Resources
Refers to the process of distributing available resources among various competing needs and uses in an economy to achieve optimal outcomes.
Redistributing Income
A policy or process by which a government aims to adjust the distribution of income among its citizens, typically through taxation and welfare programs to reduce economic inequality.
- Discern the responsibilities and restrictions placed on government operations in a capitalist marketplace.
- Recognize the significance of mixed economies and their characteristics.
Verified Answer
ZK
Zybrea KnightMay 11, 2024
Final Answer :
A
Explanation :
In developed capitalist economies, including the United States, the government typically plays a significant role in allocating resources and redistributing income. This is achieved through various policies and programs such as taxation, government spending, welfare programs, subsidies, and regulations. While the government does not control the entire economy, it does play an important role in shaping it.
Learning Objectives
- Discern the responsibilities and restrictions placed on government operations in a capitalist marketplace.
- Recognize the significance of mixed economies and their characteristics.