| A | B |
|---|
| FTC | stands for Federal Trade Commision |
| public goods and services | EX: interstate highways, postal service, national defense |
| tax revenue and borrowing | ways government provide public goods and services |
| how individuals and companies do business | FTC, EPA and FCC oversee this. |
| government | provides public goods and services that individuals couldn't provide efficiently |
| economic | government taxes, borrows and spends to influence this activity |
| government tax increases | reduces the funds available for private and business spending |
| increased government borrowing | reduces funds available for borrowing by individuals and business |
| increased government spending | increases demand, which may increase employment and production |
| increased government spending | may result in higher taxes |
| government tax decreases | increases funds for private and business spending |
| decreased government borrowing | increases funds available for borrowing by individuals and businesses |
| decreased government spending | reduces demand, which may slow the economy |
| decreased government spending | may result in lower taxes |
| 16 | amendment that authorizes Congress to tax income |
| FED (Federal Reserve) | the central bank of the United States |
| restricts (shrinks) the money supply | this is how the FED slows down the economy |
| increase the reserve requirement, increase the discount rate, sells govt. securities(bonds) | ways the FED slows the economy |
| money supply | this is what the FED regulates |
| a banker's bank | the FED acts as this by issuing currency and regulating the amount of money in circulation |
| increases the money supply | the FED stimulates (speeds up) the economy by this |
| lowers the reserve requirement, lowers the discount rate, buys government securities | ways the FED stimulates the economy |
| United States government | passes laws and creates agencies to protect consumer rights |
| health and safety | government agencies establish guidlines that protect this |
| awareness of individual talents, interests and aspirations | this is needed to select a career |
| self-assessment | career planning starts with this |
| by negotiated contracts | private ownership is protected by this |
| consumers | they may take legal action against violations of consumer rights |
| ones who demonstrate the attitudes and behavionr of a strong work ethic | employers seek this kind of employees |
