Asked by
Alexia Perez
on Oct 13, 2024Verified
Statement I.In the United States,the economic role of the government is played almost entirely at the federal level.
Statement II.The outcomes of each of the three basic economic questions are affected by government actions.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Economic Role
The function or position a person, company, or thing occupies within an economic system, contributing to the system's overall operation.
Federal Level
Pertaining to the national government, as opposed to state, local, or municipal levels of governance.
Government Actions
The measures and policies implemented by governmental bodies to influence economic, social, or political outcomes.
- Examine the viewpoints of Adam Smith concerning the involvement of the government in economic activities and individual self-interest.
- Comprehend the function of the marketplace and the pricing mechanism in distributing resources.
Verified Answer
JB
Learning Objectives
- Examine the viewpoints of Adam Smith concerning the involvement of the government in economic activities and individual self-interest.
- Comprehend the function of the marketplace and the pricing mechanism in distributing resources.