Asked by Esther Sagoe on Jun 24, 2024
Verified
Which of the following is a typical attribute of a socialist country?
A) Taxes are very high,particularly on the wealthy classes.
B) Government owns some of the means of production.
C) Cradle-to-grave security for its citizens.
D) A large-scale redistribution of income program from the wealthy and well-to-do to the middle class,working,class and the poor.
E) All of the choices are attributes of a socialist country.
Socialist Country
A nation whose government practices socialism, aiming for collective or governmental ownership and administration of the production and distribution of goods.
Redistribution of Income
Government policies or mechanisms aimed at adjusting the distribution of income among a population to achieve social or economic objectives.
Wealthy Classes
Social groups consisting of individuals or families that possess significantly higher amounts of capital, assets, or wealth compared to the average population.
- Become familiar with the divergent principles underlying capitalist, socialist, and centrally planned economies.
- Ascertain the government's part in assorted economic systems.
Verified Answer
JZ
Jielin ZhangJun 27, 2024
Final Answer :
E
Explanation :
All of the choices listed - high taxes on the wealthy, government ownership of means of production, cradle-to-grave security, and redistribution of income - are typical attributes of a socialist country. These policies seek to reduce income inequality and provide greater economic security for all citizens, particularly those in lower income brackets.
Learning Objectives
- Become familiar with the divergent principles underlying capitalist, socialist, and centrally planned economies.
- Ascertain the government's part in assorted economic systems.