Multiple Choice
Which of the following is a true statement about the U.S. economy during the 1970s?
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1. Introduction to Macroeconomics
Introduction to Economics
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Which of the following is a main goal of economic policy within a free-enterprise system?
A
Eliminating private property
B
Promoting economic growth
C
Maximizing government ownership of resources
D
Restricting consumer choice
Verified step by step guidance1
Step 1: Understand the context of a free-enterprise system, which is an economic system where private individuals and businesses own resources and operate with minimal government intervention.
Step 2: Recognize that economic policy goals in such a system typically focus on enhancing the efficiency and productivity of the economy rather than restricting freedoms or increasing government control.
Step 3: Evaluate each option by considering whether it aligns with the principles of a free-enterprise system: eliminating private property and maximizing government ownership contradict the system's core values.
Step 4: Consider that restricting consumer choice goes against the idea of market freedom, which is fundamental in a free-enterprise system.
Step 5: Conclude that promoting economic growth is a main goal of economic policy in a free-enterprise system because it encourages innovation, investment, and overall improvement in living standards.
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