I believe B. It describes characteristics of a person who is self-sufficient and also applies to free competition in economics is the correct answer.
Answer:
The Federal government essentialy tries to balance the economy: when the economy is strong, it implements policies to keep it from overheating, and when the economy is weak, it tries to boost the economy.
It also uses policy to reduce poverty, wealth and income inequality, and to promote employment.
Two specific federal policies are:
- Social Security and Medicare, which gives health insurance to poor and old people, and has the goal of reducing inequality, and helping those in need.
- Federal spending programs on infraestructure, with the goal of reducing unemployment, and improving the economy by updating American infraestructure.
The Unites States has a higher gross domestic product when compared to other developed countries
Gross domestic product is an economic indicator that represents the value of all goods and services produced by a country during a given period (usually one year) used to measure the wealth that a country generates.
For example, in 2019, the GDP of the United States was about 21.4 trillion dollars, while the GDP of other developed countries such as China was about 14.3 trillion dollars, and Japan had a GDP of about 5 trillion dollars. From the above, it can be United States has a higher gross domestic product.
On the other hand, United States does not have the highest standard of living because countries such as finland have a higher standard of living, still United States has a relative unemployment rate and its economy is based in the gold standard.
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It was to pay down their war debts from fighting the French in the Seven Years' War.
