A Gallup public opinion poll indicates that among people aged 18 to 29, more have a favorable view of socialism than of capitalism. A columnist in the Wall Street Journal comments: "Would these people actually know socialism if they saw it? Taxing the rich, Medicare-for-all, and a Green New Deal that replaces fossil fuels with renewables are certainly liberal, probably radical, possibly unwise. But socialist? Hardly." Sources: Frank Newport, "Democrats More Positive about Socialism Than Capitalism," news.gallup.com, August 13, 2018; and Greg Ip, "Venezuela's Collapse Exposes the Fake Socialism Debated in U.S." Wall Street Journal, February 6, 2019. What definition of socialism is the columnist using if he doesn't consider the programs he lists to be socialist? Is the columnist's definition of socialism one that U.S. socialists like Senator Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez would be likely to accept? The columnist is likely defining socialism to refer to al O A. mixed economy, which combines elements of free-market and command economies. Bernie Sanders would be likely to accept this definition of socialism because he is more concerned with the provision of services such as health care and not government ownership of businesses. OB. centrally planned economy in which the government directly controls most production. Bernie Sanders would be highly likely to accept this definition of socialism because he has proposed widespread government ownership of businesses. OC. Communist state. Bernie Sanders would be highly likely accept this definition of socialism because he has proposed widespread government ownership of businesses. OD. centrally planned economy in which the government directly controls most production. Bernie Sanders would be unlikely to accept this definition of socialism because he is more concerned with the provision of services such as health care and not government ownership
A Gallup public opinion poll indicates that among people aged 18 to 29, more have a favorable view of socialism than of capitalism. A columnist in the Wall Street Journal comments: "Would these people actually know socialism if they saw it? Taxing the rich, Medicare-for-all, and a Green New Deal that replaces fossil fuels with renewables are certainly liberal, probably radical, possibly unwise. But socialist? Hardly." Sources: Frank Newport, "Democrats More Positive about Socialism Than Capitalism," news.gallup.com, August 13, 2018; and Greg Ip, "Venezuela's Collapse Exposes the Fake Socialism Debated in U.S." Wall Street Journal, February 6, 2019. What definition of socialism is the columnist using if he doesn't consider the programs he lists to be socialist? Is the columnist's definition of socialism one that U.S. socialists like Senator Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez would be likely to accept? The columnist is likely defining socialism to refer to al O A. mixed economy, which combines elements of free-market and command economies. Bernie Sanders would be likely to accept this definition of socialism because he is more concerned with the provision of services such as health care and not government ownership of businesses. OB. centrally planned economy in which the government directly controls most production. Bernie Sanders would be highly likely to accept this definition of socialism because he has proposed widespread government ownership of businesses. OC. Communist state. Bernie Sanders would be highly likely accept this definition of socialism because he has proposed widespread government ownership of businesses. OD. centrally planned economy in which the government directly controls most production. Bernie Sanders would be unlikely to accept this definition of socialism because he is more concerned with the provision of services such as health care and not government ownership
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please explain the correct and incorrect option
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Transcribed Image Text:A Gallup public opinion poll indicates that among people aged 18 to 29, more have a favorable view of socialism than of capitalism. A columnist in the Wall Street Journal comments:
"Would these people actually know socialism if they saw it? Taxing the rich, Medicare-for-all, and a Green New Deal that replaces fossil fuels with renewables are certainly liberal, probably radical, possibly unwise. But socialist? Hardly."
Sources: Frank Newport, "Democrats More Positive about Socialism Than Capitalism," news.gallup.com, August 13, 2018; and Greg Ip, "Venezuela's Collapse Exposes the Fake Socialism Debated in U.S." Wall Street Journal, February 6, 2019.
What definition of socialism is the columnist using if he doesn't consider the programs he lists to be socialist? Is the columnist's definition of socialism one that U.S. socialists like Senator Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez would be likely to accept?
The columnist is likely defining socialism to refer to a
O A. mixed economy, which combines elements of free-market and command economies. Bernie Sanders would be likely to accept this definition of socialism because he is more concerned with the provision of services such as health care and not government ownership of
businesses.
O B. centrally planned economy in which the government directly controls most production. Bernie Sanders would be highly likely to accept this definition of socialism because he has proposed widespread government ownership of businesses.
O C. Communist state. Bernie Sanders would be highly likely to accept this definition of socialism because he has proposed widespread government ownership of businesses.
O D. centrally planned economy in which the government directly controls most production. Bernie Sanders would be unlikely to accept this definition of socialism because he is more concerned with the provision of services such as health care and not government ownership
of businesses.
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