The U.S. Economy

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Across
  1. 2. Part of the characteristic of free enterprise; buyers and sellers choose whether to carry out a transaction
  2. 5. Characteristic of the U.S. economy; businesses keep the money they earn
  3. 6. Tax that funds services at the local level of government ONLY
  4. 8. Increase in the average price of goods and services; it speeds up if the money supply gets too large
  5. 12. Tax that funds services at the federal and state levels of government
  6. 15. Safety recalls on a product or laws promoting fairness in the stock market are way the government protects ___
  7. 16. The cost for a borrower to get a loan from a financial institution; set by the Federal Reserve
  8. 20. Two functions of money are that it measures and stores ___
  9. 21. Opposite businesses in the Circular Flow economic model; start off holding resources but are buyers in the market for goods and services
  10. 23. Advancements in ___ lead to lower costs of production, lower prices, and easier global flow of goods, services, and resources
  11. 24. Tax that funds services at the state and local levels of government
Down
  1. 1. Something used by many but not profitable to produce because it’s hard to limit it to paying customers; government often provides it
  2. 3. Adjusting the Minimum Reserve ___ lets the Fed influence banks' behavior
  3. 4. Characteristic of the U.S. economy; people can own, use, and get rid of items as they wish
  4. 7. Like a bank, this is a financial institution but it’s not for profit
  5. 9. Increased taxes or sales of savings bonds means more government spending, but ___ funds for people and businesses to spend
  6. 10. The ___ rate is the cost for a bank to borrow money from the Fed; adjusting it lets the Fed manage the money supply
  7. 11. Worker safety is a reason the government (such as the __ Safety and Health Administration) intervenes in the economy
  8. 13. Tool used by the government to encourage competition among businesses
  9. 14. Consumer ___ means that businesses will continue to produce something only so long as people are interested in buying it
  10. 17. The government intervenes in the economy to protect the ___ by setting rules about emissions, waste disposal, etc.
  11. 18. Too little economic activity for a long period of time; the Fed responds by increasing the money supply
  12. 19. If unable to effectively produce something, a country is likely to get it through ___
  13. 22. The government encourages competition among businesses to avoid the formation of a ___