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CE.13-14
Government and the Economy
| Question | Answer |
|---|---|
| Antitrust Laws | prevent monopolies |
| EPA | Environmental Protection Agency |
| FCC | Federal Communications Commission |
| FTC | Federal Trade Commission |
| Monopoly | a company without competition |
| Simultaneously | at the same time |
| 16th Amendment | allows Congress to collect income tax |
| Federal Reserve | nation's bank |
| Inflation | prices rising |
| Deflation | slowing down of the economy |
| Stable economy | without inflation or deflation |
| Federal | national |
| Facilitate | make easier |
| 3 types of money | coins, bills, deposits in bank accounts |
| Aspirations | hopes |
| Self-assessment | evaluation of your strengths and weaknesses |
| Enhance | improve |
| Work ethic | a commitment to the value of work |
| Correlation | link |
| Fiscal | financial |
| How does the government protect consumer rights? | by passing laws and creating agencies |
| What protects your right to own private property? | contracts which are enforceable by law |
| money | anything generally accepted as a method of payment |
| Why do people accept U.S. currency? | they have confidence in the government |
| three types of money | coins, Federal Reserve notes (bills), deposits in banks accounts accessed by checks and debit cards |
| antitrust laws | legislation to prevent new monopolies from forming and regulating those that already exist |
| What does the FCC do? | regulates telephone, tv, radio, satellite communications |
| What does the EPA do? | protects human health and environment |
| What does the FTC do? | maintains a competitive marketplace and protects from unfair business practices |
| 16th amendment | allows Congress to tax personal and business income |
| FDA | Food and Drug Administration |
| characteristics of public goods and services | provided by the government, provide benefits to many simultaneously, would probably not be available if individuals had to provide them |
| self-assessment | an evaluation of your talents, interests, and aspirations (goals) |
| work ethic | doing your job well, working hard and toward the bigger picture |
Created by:
NMSElliott
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