Final answer:
In the United States free enterprise system, the government is unlikely to set prices and wages, but it does enforce laws, allow economic decisions to be made by individuals, and permits businesses to manage their workforce, including layoffs.
Step-by-step explanation:
Because the United States has a free enterprise system, the government is not likely to set prices and wages. A free enterprise system, also known as a market economy, emphasizes minimal government intervention in economic activities. The government does enforce laws and regulations, allow individuals to make economic decisions, and permit businesses to lay off workers, but it typically refrains from directly setting prices and wages as these are determined by the market forces of supply and demand.
The government has a role in the economy as regulator, protector, provider, consumer, and promoter. It enforces competition and consumer protection laws and provides essential services that are not adequately addressed by the private sector. Additionally, in a free enterprise system, the government promotes national goals, supports free markets with the establishment and enforcement of regulations, and approves most proposed mergers, ensuring a healthy economic environment where businesses and consumers can operate.