Which of the Following Describes Socialism as Practiced Today in Sweden

question 19

Multiple Choice

Which of the following describes socialism as practiced today in Sweden?

• A)The government does not attempt to manage the overall economy,but owns a number of major industries and provides for people's basic economic needs.
• B)The government manages the overall economy through ownership of most major industries,and does not allow private property.
• C)The economy operates almost exclusively on private transactions.
• D)The government does little to manage the economy and owns no major industries,serving mainly to provide for people's basic economic needs.
• E)Firms are largely free to make their own production,distribution,and pricing decisions,and individuals depend largely on themselves for economic security.

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Definitions:

Chapter 7 Liquidation

A process under the U.S. Bankruptcy Code where a debtor's assets are sold off to pay creditors, and the debtor's remaining debts are discharged.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.