Economics Review

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Across
  1. 3. The price where supply and demand are equal
  2. 5. Control of the money supply and interest rates
  3. 6. Money the government spends on goods and services
  4. 7. When government revenue exceeds spending
  5. 11. The amount of goods and services money can buy
  6. 13. How responsive quantity demanded is to price changes
  7. 15. A curve showing the relationship between tax rates and tax revenue
  8. 16. The point where quantity supplied equals quantity demanded
  9. 18. The amount of a good consumers are willing and able to buy at different prices
  10. 19. A tax system where higher incomes pay a higher percentage
  11. 22. Money collected by the government from taxes
  12. 24. As price increases quantity supplied increases
  13. 25. An economy where decisions are made by consumers and producers
  14. 26. Income remaining after taxes
  15. 27. The amount of a good producers are willing and able to sell at different prices
  16. 32. GDP measured using current prices
  17. 34. Government-set limits on prices
  18. 35. A graph showing trade-offs between two goods
  19. 37. The central bank of the United States
  20. 39. A tax placed on goods at the point of sale
  21. 40. The total amount of money the government owes
  22. 41. A good that can replace another good
Down
  1. 1. The use of taxes and government spending to influence the economy
  2. 2. A legal minimum price set above equilibrium
  3. 4. An increase in an economy’s ability to produce goods and services
  4. 8. A tax that takes a larger percentage of income from low-income earners
  5. 9. The total value of final goods and services produced in a country
  6. 10. When government spending exceeds government revenue
  7. 12. GDP adjusted for inflation
  8. 14. A tax on imported goods
  9. 17. The cost of borrowing money
  10. 20. When quantity supplied is greater than quantity demanded
  11. 21. As price increases quantity demanded decreases
  12. 23. Demand that does not change much when price changes
  13. 28. The value of the next best alternative that is given up
  14. 29. An economy with both market and government involvement
  15. 30. Principle The idea that choosing one option means giving up another
  16. 31. When quantity demanded is greater than quantity supplied
  17. 33. A legal maximum price set by the government
  18. 36. Limited resources with unlimited wants
  19. 38. A sustained increase in the overall price level