Final answer:
The incorrect statement is 'The size of an economy is irrelevant,' since the size of an economy plays a crucial role in military power, diplomacy, and resources for environmental protection, technological and scientific advancements.
Step-by-step explanation:
Within the scope of macroeconomics, the size of an economy is a significant factor in various aspects of a nation's capabilities and influence. When asked to choose the incorrect statement from the given options, the incorrect statement is:
D. The size of an economy is irrelevant.
This statement is incorrect because the size of an economy, often measured by its gross domestic product (GDP), is relevant to military power, diplomatic negotiations, and the allocation of resources for environmental protection, science, and technology. For instance, larger economies generally have more resources to devote to these areas.
Who decides how an economy utilizes its productive resources largely determines whether the economy is more command-oriented or market-based. Furthermore, the U.S. economy, with a GDP of $20.9 trillion as of 2020, exemplifies the economic strength that can influence various societal interests.