| A | B |
|---|
| freedom to own property, make a profit, and to make choices about what to produce, buy and sell | Economic Freedom |
| a group of companies organized to benefit from the high prices they all agree to charge | Trust |
| a single business with the power to control prices in a market | Monopoly |
| a repeated series of "ups" of growth and "downs" of recession | Business Cycle |
| regulation of the money supply by the Federal Reserve System | Monetary Policy |
| a govt. decisions about the amount of money it spends and amount it collects | Fiscal Policy |
| govt. agency that sets and enforces safety and health standards in the workplace | Occupational Safety & Health Administration |
| passed in 1935, provides a monthly payment to workers and their families to replace lost income when a person retires, injured or dies | Social Security Act |
| receive payments while workers search for another job | Unemployment income |
| govt. agency, created in 1927 over sees that foods, cosmetics and rx drugs are safe and labeled correctly | Food & Drug Administration (FDA) |
| govt. agency makes safety rules for products such as toys, tools, children's clothes and home appliances | Consumer Product Safety Commission (CPSC) |
| first major environmental law in the United States and is often called the "Magna Carta" of Federal environmental laws | Environmental Protection Act |
| a general rise in the prices of goods and services throughout the economy | Inflation |
| the total dollar value of all final goods and services produced and sold in the country in a year | Gross Domestic Product |
| the government plan for how it will raise and spend money | Federal Budget |
| the amount by which government spending is greater than government income | Deficit |
| the amount by which the government income is greater than government spending | Surplus |
| the total amount of money the government owes to lenders | National Debt |
| payment for the use of capital | Interest |
| based on a greater percentage that increase as you income grows | Personal Income Tax |
| based on a percentage of your income that does not vary | Social Security Tax |
| a charge on certain goods, such as alcoholic beverages, gasoline, and tobacco | Excise Tax |
| taxes on imported goods | Tariffs |
| charges to users of certain services | Fees |
