| A | B |
|---|
| Increases/decreases tax rates; regulates amount of money in the economy with the Federal Reserve Bank; negotiates international treaties and trade agreements | ways the government promotes economic growth |
| Allows the government to break up companies; with the control of a market prevents monopolies | the Sherman Antitrust Act of 1890 |
| Provides a safe work environment; provides freedom from discrimination and harassment; protects from unlawful termination; ensures certain rights to privacy; provides the right to participate in labor unions and establishes a minimum wage | ways the government protects employees |
| Created to protect the natural environment in which we live; stresses clean air, land and water; creates laws to prevent businesses from harming the environment | The Environmental Protection Agency of 1970 |
| The three branches of the U.S. legal system | executive, legislative and judicial |
| Law based on precedents established by judges’ | Common Law |
| Legalized the right-to-work laws and and stopped feather bedding and closed | Taft-Hartley Act of 1947 |
| Passed to amend and clarify the Sherman Antitrust Act | Clayton Antitrust Act of 1914 |
| Established the Federal Trade Commission; promotes fair competition; prevents false/deceptive advertising | Federal Trade Commission Act of 1915 |
| When a government sets strict rules affecting businesses within certain industries | regulation |
| The removal or relaxation of the rules affecting businesses within certain industries | deregulation |
| Provides low-cost loans, advice and other assistance to small businesses | Small Business Administration |
| Stresses clean air, land and water; creates laws to prevent businesses from harming the environment | The EPA |
| Percentage of total income deducted from your paycheck; graduated tax; a graduated tax | personal income tax |
| The more money you make, the higher percentage of taxes you pay | graduated tax |
| Federal taxes paid on corporate profits; also imposed by state, local and foreign governments | corporate income taxes |
| Paid by businesses on land, structures and other property they own | property taxes |
| Added to the price of goods and services at the time of purchase | sales taxes |
| Designed to control potentially harmful practices; are automatically included in the price; produce income which must be used for a purpose related to a tax | excise taxes |
| “Import taxes”; fees imposed on goods brought into the country; designed to protect US businesses against foreign competition; raise the price of imports to a level comparable to the price of domestic merchandise | customs duties |
| Branch of the government that is headed by the President | executive branch |
| Branch of the government that includes the two houses of Congress | legislative branch |
| Branch of government that is made up of the U.S. Court System | judicial branch |
| Laws that are written by the legislative branch | statutory law |
| rules, regulations and interpretations of statutory law set forth by administrative agencies and commissions; enforced on corporations by administrative agencies | administrative law |
| Organizations formed to represent workers and prevent unfair labor practices; members are typically employees of the same type of organizations formed to represent workers and prevent unfair labor | labor unions |
| National Labor Relations Act; gives workers the right to organize a union | Wagner Act of 1935 |
| When union representatives and management come together to discuss issues arising between employees and employers; union workers strike when an agreement cannot be reached | collective bargaining |
| Labor unions forcing companies to hire unnecessary workers | feather bedding |
| Practice requiring businesses to hire only union members | closed shop |
| Allows employees the right to work for a company whether or not they decide to join the union | right-to-work laws |
