Commissions, Agencies, Administrations
Occupational Safety and Health Administration (OSHA)
Protects the workplace
Ensuring fair prices, quality, and choice best describes which economic term?
Competition
The government provides mail services, interstate road systems, and public schools. What might best support that idea?
The government provides certain goods and services
What is the main purpose of money?
Medium of exchange and store of value
Environmental Protection Agency (EPA)
Protects the Environment
Equal Employment Opportunity Commission (EEOC)
Protects against discrimination
What can monopolies cause?
Higher prices, fewer choices, lower quality
Why might the government provide certain goods and services?
Because they can be too expensive for private sectors
Income Tax
Based on Earnings
What does the Federal Reserve do?
Controls the money supply
Retires currency
Regulates banks
Securities and Exchange Commission
Regulates the Stock Exchange
Oversees Investments
What do antitrust laws prevent?
Monopolies from forming
What is considered the main source of government revenue?
Taxes
Sales Tax
Added to the price of products
What are the other three main sources of government revenue?
Fees
Fines
Borrowed Funds
Federal Trade Commission
Enforces Antitrust Laws
Helps Prevent Monopolies
Lower Interest Rates =
More borrowing
More Spending
More Jobs
Which level of government relies on property tax as the main source of revenue?
Local
Property Tax
Based on land
Jerry signs a document saying that he must show up to work on a consistent basis and follow rules. What did Jerry sign?
Contract
The Consumer Product Safety Commission and Food and Drug Administration both help regulate what?
Product safety for consumers
Higher Interest Rates =
Less borrowing
Slower inflation
The central bank of the United States best describes which agency?
Federal Reserve
The U.S. Mint and Bureau of Engraving and Printing are managed by whom?
U.S. Treasury
What is an example of a public good/service?
Highways, public schools, first responders, national defense, mail services, etc.