Final answer:
The statement is false because although the U.S. has a market economy with price influence from supply and demand, there is government intervention that also affects prices, such as price ceilings. Additionally, buyers may pay more than the equilibrium price under certain conditions.
Step-by-step explanation:
The statement that 'In the United States, prices are determined entirely by the actions of buyers and sellers' is generally false because, although the United States predominantly operates under a market economy where prices are influenced by supply and demand, there is also government intervention that can affect the price system. Government interventions include things like tax policy, subsidies, and price controls such as price ceilings, which are maximum prices set by the government to prevent prices from skyrocketing in cases of scarcity that can unfairly disadvantage consumers.
Additionally, explaining why the following statement is false: 'In the goods market, no buyer would be willing to pay more than the equilibrium price,' there are situations where consumers might value a product more than that price, such as during shortages, perceived urgency, or with goods perceived to have greater value. The equilibrium price is a guideline in perfect market conditions, but actual market conditions can lead to prices above this equilibrium.