Economics Semester 1

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Across
  1. 2. The extra satisfaction (change in total utility) from consuming one more unit of a good
  2. 6. Working at a job for which one is overqualified, or working part time when full-time work is desired
  3. 13. A tax where the percentage of the income that is paid in taxes decreases as income increases
  4. 14. GDP measured in current prices
  5. 15. A tax for which the percentage of income paid in taxes increases as income increases
  6. 16. Unemployment that rises during economic downturns and falls when the economy improves
  7. 17. A type of policy where the government engages in spending and taxation to influence the economy
  8. 19. A type of good that is non-rivalrous and excludable
  9. 20. An acronym for the determinants of demand
  10. 23. Taxes on imported goods
  11. 25. Someone who enjoys a benefit without contribuiting to its cost
  12. 27. Type of unemployment that occurs when people take time to find a job
  13. 28. The cost or benefit made by someone (a bystander) other than the consumer or producer of a good
  14. 29. A type of market structure that contains differntiation of production and there are barriers for entry
  15. 30. A limit on how much of a certain good can be imported
  16. 31. A type of policy where the Federal Bank manages the money supply
Down
  1. 1. An acronym for the determinants of supply
  2. 3. The total amount of satisfaction received from all the units of a good
  3. 4. Type of unemployment in which an industry slows or shuts down at a certain point in the year
  4. 5. A cost that rises or falls depending on the quantity produced
  5. 7. GDP measured in constant, unchanging prices
  6. 8. A tax for which the percentage of income paid in taxes remains the same at all income levels
  7. 9. The most desirable alternative given up as a result of a decision
  8. 10. A type of market structure in which there are a large number of buyers and sellers, products are identical, and there is easy market entry
  9. 11. A type of resource/good that is rivalrous and non-excludable
  10. 12. A type of good that is rivalrous and excludable
  11. 18. Type of unemployment that occurs when workers’ skills do not match those needed for the jobs available
  12. 21. A market structure in which a few large firms dominate a market
  13. 22. A type of good that is non-rivalrous and non-excludable
  14. 24. The principle that limited amounts of goods and services are available to meet unlimited wants
  15. 26. The degree to which a demand or supply is sensitive to changes in price or income