Socialist Societies Create Greater Economic Equality Than Capitalism, but They

question 27

True/False

Socialist societies create greater economic equality than capitalism, but they provide a lower overall living standard.

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Definitions:

Wheeler-Lea Act

The federal law of 1938 that amended the Federal Trade Commission Act by prohibiting unfair and deceptive acts or practices of commerce (such as false and misleading advertising and the misrepresentation of products).

Antitrust Laws

Legislation designed to promote competition and prevent monopolies and other practices that restrain trade.

Department of Justice

A federal executive department of the U.S. government responsible for the enforcement of laws and administration of justice.

Celler-Kefauver Act

A United States antitrust law passed in 1950 to prohibit certain mergers and acquisitions that could lead to a decrease in competition.