Capitalism Is an Economic System in Which There Is Public

question 87

True/False

Capitalism is an economic system in which there is public ownership of the means of production and resource allocation is determined through markets.

---

Definitions:

Military Payroll

The total sum of money distributed to military personnel as salaries or wages by the government.

Government Purchases

Expenditures by government entities on goods and services that are part of a country's gross domestic product.

Federal Income Tax

The tax levied by the US government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Middle Class

A social group between the upper and working classes, including professional and business workers and their families, characterized by moderate to high income levels and higher education.