Asked by SamanthaRey Colón on May 23, 2024
Verified
The economy of the United States can best be described as laissez-faire capitalism.
Laissez-Faire Capitalism
A hypothetical economic system in which the government’s economic role is limited to protecting private property and establishing a legal environment appropriate to the operation of markets in which only mutually agreeable transactions take place between buyers and sellers; sometimes referred to as “pure capitalism.”
- Comprehend the importance of public policies in advancing economic prosperity and equilibrium in market-based economies.
Verified Answer
RK
Robert Kilduff JrMay 28, 2024
Final Answer :
False
Explanation :
While the economy of the United States is largely capitalist, it also has various regulations, interventions, and government programs that do not align with pure laissez-faire capitalism.
Learning Objectives
- Comprehend the importance of public policies in advancing economic prosperity and equilibrium in market-based economies.