The Government and the Economy

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To help people prepare for retirement by saving at least some money throughout their working career, the government applies the _______ tax to many people’s earnings.

A tax paid when you make a purchase is called a(n)

In this type of economy, the government regulates and controls industries and prices directly

In economic terms, what are consumers?

When one company has almost complete control over an industry, eliminating customer choice in which company to purchase a good or service from, this is known as a(n)

In this type of economy, prices are driven by private businesses competing for customers.

A tax on the sale of goods coming from other countries is know as a(n)

The United States economy is regarded as a(n)