Unit IV Vocabulary

12345678910111213141516
Across
  1. 2. tax on wages and salaries to finance Social Security and Medicare costs.
  2. 3. that part of the economy made up of the local, state, and federal governments.
  3. 6. fundamental feature of capitalism which allows individuals to own and control their possessions as they wish.
  4. 9. economic products that are consumed collectively.
  5. 10. federal budget that shows a positive balance after expenditures are subtracted from revenues.
  6. 11. banks belonging to Federal Reserve System.
  7. 13. money supply components conforming to money;s role as a store of value.
  8. 14. best or lowest interest rate commercial banks charge their customers.
  9. 15. market where any of the requirements of a competitive market are lacking.
  10. 16. excess of federal expenditures over tax and revenue collections.
Down
  1. 1. that part of the economy made up of private individuals and businesses.
  2. 4. Federal Deposit Insurance Corporation; insure customers deposits in the event of a bank failure.
  3. 5. privately owned, publicly controlled,central bank of the United States.
  4. 7. monetary policy resulting in lower interest rates and greater access to credit.
  5. 8. monetary policy resulting in higher interest rates and restricted access to credit.
  6. 10. total amount of money the federal government has borrowed from others.
  7. 12. interest rate that the Federal Reserve System charges on loans to the nation's financial institutions.
  8. 16. Federal Insurance Contributions Act; tax levied on employers and employees to support Social Security and Medicare.