The U.S. is a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces economic freedom when it comes to capital use, but it also allows for government intervention for the public good.
Which statement best describes the American economy in the 1920s?
Answer Expert Verified The statement that best describes the american economy in the late 1920s would be “b. only the wealthiest americans had access to credit,” although this of course depended on the amount of wealth in question.
Which statement best describes the US economy during the late 1940s and 1950s?
The economy wildly fluctuated during the postwar era. The economy was very strong during the postwar era. -best describes the US economy during the late 1940s and 1950s. This answer has been confirmed as correct and helpful.
Which best describes the Southern economy?
Which of the following accurately describes southern society in the mid-1800s? Most white southerners were small farmers. The Southern economy was based on manufacturing and they needed slave labor to work in the factories. The Southern economy was based on agriculture and they used slave labor to work the farms.
What types of economic system best describes most countries?
Most developed countries have mixed economic systems. Such a system has characteristics of both command and market economies.
What kind of economy is the United States of America?
Updated August 02, 2019. The United States of America is a union of fifty states in North America. It is the world’s third-largest economy. It is a mixed economy. That means it operates as a free market economy in consumer goods and business services.
Which is the best description of the US economy at the end of World War 2?
The best describes the state of the US economy at the end of World War II is A, it was starting to come out of the Great Depression 2. The one that best explains why Germans and Italians gave up their civil liberties and embraced totalitarianism is C; they supported fascist leaders who promised relief from economic hardships.
What was the economy of the west after the Civil War?
Chapter 16: The Economy of the West after the Civil War. Labor. Most people thought the West would be poor farmland, with extreme temperatures and little rain. They imagined the land had few trees. The West included California, Oregon, and Washington, and the 6 great plains states.
Which is the best measure of the US economy?
The following are the most critical definitions of U.S. economy measurements. GDP is the nation’s gross domestic product. That measures everything produced in the United States, whether it’s by U.S. citizens and companies or foreigners. There are three critical measurements of GDP. Nominal GDP is the primary measurement.
