Unit IV Vocabulary

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Across
  1. 4. privately owned, publicly controlled,central bank of the United States.
  2. 5. market where any of the requirements of a competitive market are lacking.
  3. 6. interest rate that the Federal Reserve System charges on loans to the nation's financial institutions.
  4. 10. fundamental feature of capitalism which allows individuals to own and control their possessions as they wish.
  5. 13. Federal Insurance Contributions Act; tax levied on employers and employees to support Social Security and Medicare.
  6. 14. best or lowest interest rate commercial banks charge their customers.
  7. 16. monetary policy resulting in higher interest rates and restricted access to credit.
Down
  1. 1. banks belonging to Federal Reserve System.
  2. 2. total amount of money the federal government has borrowed from others.
  3. 3. tax on wages and salaries to finance Social Security and Medicare costs.
  4. 4. excess of federal expenditures over tax and revenue collections.
  5. 7. federal budget that shows a positive balance after expenditures are subtracted from revenues.
  6. 8. Federal Deposit Insurance Corporation; insure customers deposits in the event of a bank failure.
  7. 9. monetary policy resulting in lower interest rates and greater access to credit.
  8. 10. that part of the economy made up of private individuals and businesses.
  9. 11. that part of the economy made up of the local, state, and federal governments.
  10. 12. economic products that are consumed collectively.
  11. 15. money supply components conforming to money;s role as a store of value.