Government and The Economy Part I

What is it called when one company controls an entire industry without any competition?

• Competition
• Consumer
• Monopoly

Laws that prohibit or ban monopolies and other activity that reduces competition are called what?

• Antitrust Laws 
• Competition
• Consumer Report
• ProTrust Laws

What is the name of the government agency created to stop companies from competing unfairly?

• Federal Communications Commission 
• Federal Trade Commission
• Federal Trade Company
• Environmental Protection Agency 

what is the name for the central bank of the United States

• the United Reserve
• the Federal Reserve
• Bank of America
• Union Bank

which is not a way that the government promotes competition?

• engage in global trade
• enforce anti-trust laws
• encourages monopolies
• support business start-ups

Which is not a duty of the FED?

• regulates the value of currency
• regulates smaller banks to ensure deposits
• collect income taxes
• acts as the bank for the federal government

all are examples of public goods and services except

• movie theaters
• highways
• libraries
• post office

What does EPA stand for? 

• Environmental Protection Agency 
• Environment Public Association 

Besides banning monopolies and supporting business start ups...how else does the government promote competition? 

• promoting monopolies 
• engaging in global trade
• increase taxes
• do nothing

Cases involving people taking legal action against a business are called ________ rights cases. 

• civil
• consumer 
• property 
• employee