| A | B |
|---|
| U.S. government | promotes and regulates competition |
| FCC | Federal Communication Commission |
| EPA | Environmental Protection Agency |
| FTC | Federal Trade Commission |
| ways gov'ts. produce public goods & services | through tax revenue and borrowed funds |
| FED | Federal Reserve System |
| Federal Reserve System | central bank of the United States |
| ways the FED slows economy | raise discount rate & sell gov't. securities |
| ways FED stimulates economy | lower discount rate & purchase gov't. securities |
| examples of public goods & services | interstate highways, postal service & national defense |
| monopoly | one company buys other companies to control price of a product |
| consumer right | take legal action against violation of consumer rights |
| right of private ownership | protect by negotiated contract |
| 16th amendment | authorizes Congress to tax personal & business income |
