U.S Government and the U.S. Economy

This is the term for one business controlling an entire product or service.

• monopoly

• profit

• trade

• competition

The U.S. government promotes marketplace competition in all of the following ways EXCEPT:

• Establishing and enforcing antitrust laws

• Enacting policies that encourage global trade.

• Support business start-up.

• Central ownership of property and resources.

This government agency regulates and promotes competion through cable, radio, television, satellite and wire.

• FCC

• SEC

• FTC

• EPA

This government agency oversees the securities market and protects investors.

• FCC

• SEC

• FTC

• OSHA

This government agency protects consumers against unfair, deceptive, or fraudulent business practices.

• FCC

• SEC

• FTC

• EPA

Government provides some goods and services for all of the following reasons EXCEPT:

• They can provide benefits to many simultaneously.

• They are goods or services that would not be available if individuals had to provide them.

• They use it as a way to raise taxes.

• They are goods and services that the marketplace cannot provide efficiently.

All are ways that government pays for public goods and services EXCEPT:

• taxes

• borrowed money

• fees

• limiting private ownership of property

This tax is the main source of revenue for the federal government.

• income tax

• sales tax

• property tax

• tariffs

Which is not a main source of revenue for the state governments?

• income tax

• property tax

• sales tax

Which is not a main source of revenue for local governments?

• income tax

• sales tax

• property tax