Show:
The Federal Budget
Fiscal & Monetary Policy
Government Regulation and Consumer Protection 1
Government Regulation and Consumer Protection 2
Potpourri
100
The primary source of government revenue.
What is taxes?
100

The federal government establishes these policies which impact government spending and taxes.

What are Fiscal Policies

100
The exclusive (or singular) possession or control of the supply or trade in a particular commodity, industry, or service.
What is a monopoly?
100
NAFTA is a North American example of this type of agreement, which intends to minimize and/or eliminate barriers to trade.
What is a free-trade agreement?
100
Two of the three biggest sources of tax revenue for the federal government.
What are federal income, Social Security, and corporate income taxes?
200
The result when government spending exceeds revenue.
What is a (budget) deficit?
200

The Federal Reserve Board will regulate interest rates and adjust the amount of currency in circulation by determining this kind of policy.

What is a monetary policy?

200
The federal government regulates this wage, currently set at $7.25/hr (though many states and localities require more).
What is the minimum wage?
200

In an effort to minimize exposure to pollutants and reduce harmful actions to and within nature, the government established this agency.

What is the Environmental Protection Agency (EPA)
200

When the opportunity cost of producing a good or service is lower for a specific country than for other countries it is known as this.

What is comparative advantage?
300
The result when government revenue exceeds spending?
What is a (budget) surplus?
300

When inflation is high, the Federal Reserve or the government may attempt to enact this type of fiscal or monetary policy.

What is contractionary?

300
The control of a commodity, industry, trade or service by a relative few (e.g. American auto makers).
What is an oligopoly?
300

This agency promotes consumer protection and the elimination/ prevention of anti-competitive business practices, such as monopolies.

What is the Federal Trade Commission

300

The Food & Drug Administration (FDA) and Environmental Protection Agency (EPA) are two examples of governmental agencies that provide these.

What are regulations?

400
The result of successive years of federal spending exceeding its revenue. It currently stands at approximately $17 trillion.
What is (federal) debt?
400

When the economy has slowed the Federal Reserve and/or the federal government may attempt to give it a boost by enacting this type of fiscal or monetary policy.

What is expansionary?

400

Utilities (and at one time, the USPS), among others  would be examples of this kind of monopoly.

What are natural monopolies?

400

This independent federal government regulatory agency is responsible for protecting investors, maintaining fair and orderly functioning of the securities markets

What is the Securities & Exchange Commission

400

The fluctuations in economic activity that an economy experiences over a period of time.

What is the Business Cycle

500
Three federal spending programs that account for over half of all federal expenses.
What are Social Security, health care (Medicare and Medicaid), and defense?
500

Discount rates and Reserve requirements are among their powers.

What is the Federal Reserve?
500

Federal law passed by Congress in 1890. It prohibits certain business activities that federal regulators deem to be anti-competitive. It has since been used to oppose the merger of businesses that could potentially harm competition.

What is the Sherman Antitrust Act?

500

This is the federal agency responsible for implementing and enforcing America’s communications law and regulations 

What is the Federal Communications Commission

500
Two of the ways the government makes domestic businesses more competitive: taxing imports and setting limits on imports.
What are tariffs and quotas?