In 2008 and 2009,under the Obama administration,the United States government initiated a large-scale economic bailout of the banking and auto industries.The government invested enormous amounts of money and,as a result,became the majority shareholder in some corporations.According to the text,this means that the United States
A) is an example of pure capitalism.
B) is a mostly capitalist nation, but it also has a degree of socialism in government subsidies to businesses.
C) had a socialist economy under President Barack Obama.
D) has always been primarily socialist, so the bailout is nothing new.
Correct Answer:
Verified
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