Use the Following to Answer Question(s): Income Distribution in the United

question 88

Multiple Choice

Use the following to answer question(s) : Income Distribution in the United States

-The Case in Point titled "Attitudes and Inequality" suggested that:

• A) more Americans than Europeans believe that the poor could become rich with enough hard work.
• B) more Europeans than Americans believe that the poor could become rich with enough hard work.
• C) the majority of both Americans and Europeans believe that the poor could become rich with enough hard work.
• D) the majority of both Americans and Europeans believe that success is based on luck, connections, and corruption.

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Definitions:

Command System

A method of organizing an economy in which property resources are publicly owned and government uses central economic planning to direct and coordinate economic activities; socialism; communism. Compare with market system.

Laissez-faire Capitalism

An economic system where government intervention in business and markets is minimal, and the forces of supply and demand are allowed to regulate the economy.

Central Planning

A system where economic decisions, such as the allocation of resources, are made by the government or a centralized authority.

Market System

An economic system in which market forces of supply and demand guide the production of goods and services and their distribution.