unit 3 Flashcards
The defense production act does what for the executive branch?
Gives it power
Defense production law lets the government..
control how much people produce in different products
The defense production act is basically..
control on how much of products/food can be made, or rationing
Copyright does what?
protects an original creation when the author makes the creation in a tangible expression.
copyright lasts this long:
70 years after death, or (if made for hire), 95 after publication/120 after creation
Trademark does what?
denotes a product and legally differentiates it from other products that are similar to, but not the same as, the product
Patent
keeps your invention from being stolen from you, so that you are the one who gets credit for your invention instead of someone else.
Eminent domain
When the government needs to take the property you own, so they have to give you something equally as good back.
FDIC
makes people feel safe putting money in banks. insures account holders up to $250,000 for each account, in case of a bank failure.
FTC
federal agency protects people from fraud/deception. it works to maintain a competitive economy.
SEC
regulates investment market to make investors feel safe about businesses they invest in through policies that mandate disclosure of financial information.
EPA
formed to cut down pollution, and protect people/environment
FDA
regulates safety of food, meds, cosmetics, etc. Also marketing/sale of tobacco products.
What makes up most tax dollars collected by the government?
individual income tax
these taxes help to fund social security and medicare
FICA taxes
In this tax, the more money you make = the more money you pay
income tax
taxes on an individuals income through sales
capital gains tax
