Which of the Following Statements Is FALSE

question 57

Multiple Choice

Which of the following statements is FALSE?

• A)Compared to most other economically developed nations,the U.S. devotes a smaller percentage of its resources to government.
• B)The United States,more than Western European democracies,displays a preference for free markets.
• C)The U.S.,more than Western European democracies,displays a preference for limited government.
• D)The United States,more than Western European democracies,displays a preference for more generous social welfare benefits.
• E)All of these are false.

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the amount producers are willing to supply equals the amount consumers are willing to buy.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in a stable market condition.

Equilibrium Quantity

The supply and demand for goods or services at the price point where equilibrium is achieved in a market.

Price

The measure of money anticipated, obligatory, or tendered in payment towards an item.