chapter 12 vocabulary

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Across
  1. 3. a tax on products imported from foreign countries
  2. 8. debt the total amount of money the U.S. owes
  3. 10. payments charged by governments for various licenses
  4. 12. when a governments revenue equals its expenditures.
  5. 13. when a government spends more money than it collects.
  6. 15. a tax on the value of the property owned by a person or by a business.
Down
  1. 1. a tax that takes a larger percentage of income from low-income groups than from high-income groups.
  2. 2. an excess of money.
  3. 4. taxes on earnings
  4. 5. a careful examination by trained accountants of every item of income and every expenditure.
  5. 6. a certificate that states that the government has borrowed a certain sum of money from the owner of the bond.
  6. 7. payments made for the use of borrowed money
  7. 9. money charged as a penalty for breaking certain laws.
  8. 11. money
  9. 14. the income a business has left after paying its expenses.