Copy of 3.4 Government Spending SLIDES OCT 2022

Open Ended

Why is it important for individuals to understand how government revenue and spending work in a mixed market economy?

Multiple Choice

According to the U.S. Constitution and the 16th Amendment, who has the power to lay and collect taxes in the United States?

• The President

• The Supreme Court

• Congress

• State Governors

Multiple Select

Which of the following are ways in which the government interacts with households and businesses in the circular flow model?

• Collecting taxes from households

• Providing products to businesses

• Paying for productive resources

• Receiving income from the factor market