econ ch. 10 Flashcards
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0
Q
public sector
A
the part of the economy made up of federal, state, and local governemnts
1
Q
per capita
A
per person
2
Q
private sector
A
the part of the economy made up of private individuals and privately owned businesses-should provide
3
Q
transfer payment
A
a payment for which the government recieves neither goods nor services in return
