How does the US Government pay for most public goods and services?

Multiple Choice Question Test

Final Exam Study Guide

Unit 1: Know the following terms and be able to answer the following questions

opportunity Cost
service
Voluntary Exchange
Natural Resources
Market Economy
Command Economy
Mixed Economy

How does the US Government pay for most public goods and services?
What is the relationship between opportunity costs and trade-offs?
What makes an economic decision rational?

Additional Skills needed from this unit: Be able to read a PPC graph and determine the opportunity cost when moving between different points on the graph.