Which of the Following Statements Provides the Most Accurate Comparison

question 222

Multiple Choice

Which of the following statements provides the most accurate comparison of socialism and communism?

• A) Under socialism, the government owns most businesses, while under communism the church owns most businesses.
• B) Both socialism and communism want to achieve a more equal distribution of income and wealth, but under communism, the government takes more control over people's lives.
• C) Socialism strives for an equal distribution of income but communism wants income to go primarily to those who own and operate private businesses.
• D) Communism believes that the government should always strive to balance its budget, while socialism accepts deficit spending as the price of achieving true equality.

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Definitions:

Payroll Taxes

Charges levied on both employers and employees, typically determined based on a percentage of what employers pay to their workers as wages.

Federal Income

Income subject to federal income tax, which includes earnings from various sources such as wages, interest, dividends, and capital gains, among others.

Current Liability

A company's debts or obligations that are due within one year or within the normal operating cycle.