Econ101 Module 4
Across
- 5. unemployment, unemployment caused by changes in the industrial makeup (structure) of the economy
- 7. of thought, a cohesive way of thinking about a subject
- 11. ("allow to do" in French); the view that governments should allow firms to conduct their business without interference
- 13. the items that a firm owns
- 14. money, the use of an actual good in place of money
- 17. price index (CPI), a measure of the price level
- 18. economics, a school of thought that stresses the importance of aggregate supply and generally believes that the economy can adjust back to full employment equilibrium on its own
- 19. the purchase of final goods and services by households, excluding new housing
- 21. good, a good sold to final users
- 22. sheet, an accounting statement that summarizes a firm's key financial information
- 23. the trade of a good or service without a commonly accepted medium of exchange
Down
- 1. an extremely high rate of inflation that completely stymies economic activity
- 2. goods and services produced domestically but purchased and used abroad
- 3. hazard, a phenomenon seen when a party that is protected from risk behaves differently from the way it would behave if it were fully exposed to the risk
- 4. the growth in the overall level of prices in an economy
- 6. a short-term economic downturn that typically lasts about 6 to 18 months
- 8. risk, the risk that a borrower will not repay the full value of a debt
- 9. consumption goods, goods that are consumed over a long period
- 10. economics, a school of thought that stresses the importance of aggregate demand and generally believes that the economy needs help in moving back to full employment equilibrium
- 12. unemployment, unemployment caused by delays in matching available jobs and workers
- 14. unemployment, unemployment caused by economic downturns
- 15. workers, those who are not working, have looked for a job in the past 12 months and are willing to work, but have not sought employment in the past 4 weeks
- 16. bank, the bank for the banks; its roles include controlling the money supply, providing loans to struggling banks, and regulating the banking system
- 20. run, an event occurring when many depositors attempt to withdraw their funds at the same time