Which of the Following Statements Concerning Capitalism and Socialism Is

question 40

Multiple Choice

Which of the following statements concerning capitalism and socialism is false?

• A)Sweden is more of a socialist economy than is Hong Kong.
• B)Government plays a larger role in a capitalist economy.
• C)There is more economic planning in a socialist economy.
• D)The Canadian economy is more socialist than is the US economy.

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Definitions:

Civil Society

The realm of organized social life that is voluntary, not-for-profit, and outside of the government, which can include NGOs, clubs, and other nonprofit entities.

Democratic System

A form of government in which power is vested in the hands of the people, who exercise power directly or through elected representatives.

Corporate Capitalism

An economic and social system where corporate organizations, rather than individuals or governments, control the production and distribution of goods and services.

Wagner Act

A foundational piece of labor legislation in the United States, officially known as the National Labor Relations Act of 1935, which guarantees workers the right to organize into unions and bargain collectively.