What is one key purpose of the Federal Trade Commission (FTC)?

One key purpose of the Federal Trade Commission (FTC) is the protection of consumers and the promotion of competition. The FTC was established to prevent unfair and deceptive business practices and to ensure that markets remain open and competitive. This involves enforcing a variety of consumer protection laws, which help safeguard consumers against fraud and misleading advertising. By fostering competition, the FTC contributes to a healthier economy where consumers benefit from choices, lower prices, and innovation.

The other options, while related to various aspects of regulation and oversight, do not accurately reflect the primary role of the FTC. For instance, regulating financial institutions is mainly the responsibility of other entities such as the Federal Reserve or the Office of the Comptroller of the Currency. Monitoring corporate taxes usually falls under the Internal Revenue Service (IRS), and setting international trade agreements is typically managed by the Office of the United States Trade Representative and not the FTC.