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USVA Economies/Public Sector Review


Horizontales
Basic Econ Questions; What should be ________?
Economy based upon Central Gov't control
Sector that has ownership by government
Type of tax where richer people pay more.
Protects workers, ensures safe working conditions
Sector that has ownership by individuals and businesses
Examples of Public Goods: public safety, schools and _____________
Largest source of revenue for Fed Gov't
Created by Fair Labor Standards Act
Economy based upon competition, choice, and profit
Verticales
Tax where poorer people pay larger portion of income than rich people (ex. Sales Tax)
FDA and other agencies primary concern is safety for the _________
Economy based upon history
Use of regulations, fees, and taxes to encourage people to not pollute
Mixed-market is a _________ of free market and command economies
____ or Proportional Tax = everyone pays the same
Taxes provide ________ to pay for public goods/services
Regulates safety of food, drugs, and cosmetics
Income, Payroll, Sales are all types of _______
Reulates businesses, and strives to stop monopolies