All of the following are economic functions of the government EXCEPT
A) providing a legal system.
B) determining the wage rate for most jobs.
C) promoting competition in the market.
D) providing public goods.

Question

Quizplus · Accepted Answer

Determining the wage rate for most jobs is not typically an economic function of the government in a market economy. Instead, the wage rate is typically determined by the forces of supply and demand in the labor market. The other choices (providing a legal system, promoting competition in the market, and providing public goods) are all commonly recognized economic functions of the government.

All of the Following Are Economic Functions of the Government