Statement I: By collecting taxes,providing services,and issuing regulations,the government has some effect on the three economic questions: what,how,and for whom.
Statement II: In the United States economy,the goals of equity and efficiency do not in any way come into conflict.

Question

Quizplus · Accepted Answer

Statement I is true because the government's actions through taxes, services, and regulations can influence what goods and services are produced, how they are produced, and who gets them. Statement II is false because equity and efficiency can sometimes come into conflict. For example, policies that ensure everyone has equal access to healthcare may not be the most efficient way to allocate resources.

Statement I: by Collecting Taxes,providing Services,and Issuing Regulations,the Government Has