QuestionMay 23, 2025

19. How does the free market economy affect the standard of living in the United States? The United States has a lower standard of living due to its free market economy. The United States has a higher standard of living due to its government-controlled economy. The United States has a lower standard of living due to its government-controlled economy. The United States has a higher standard of living due to its free market economy.

19. How does the free market economy affect the standard of living in the United States? The United States has a lower standard of living due to its free market economy. The United States has a higher standard of living due to its government-controlled economy. The United States has a lower standard of living due to its government-controlled economy. The United States has a higher standard of living due to its free market economy.
19. How does the free market economy affect the standard of living in the
United States?
The United States has a lower standard of living due to its free market economy.
The United States has a higher standard of living due to its government-controlled
economy.
The United States has a lower standard of living due to its government-controlled
economy.
The United States has a higher standard of living due to its free market economy.

Solution
4.6(285 votes)

Answer

The United States has a higher standard of living due to its free market economy. Explanation 1. Identify Economic System The United States operates under a free market economy, characterized by minimal government intervention and private ownership. 2. Analyze Impact on Standard of Living A free market economy typically encourages innovation, efficiency, and competition, leading to economic growth and higher standards of living. 3. Compare Options Among the given options, the statement that aligns with the characteristics of a free market economy is that it leads to a higher standard of living.

Explanation

1. Identify Economic System<br /> The United States operates under a free market economy, characterized by minimal government intervention and private ownership.<br /><br />2. Analyze Impact on Standard of Living<br /> A free market economy typically encourages innovation, efficiency, and competition, leading to economic growth and higher standards of living.<br /><br />3. Compare Options<br /> Among the given options, the statement that aligns with the characteristics of a free market economy is that it leads to a higher standard of living.
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