Across
- 3. curve a hypothetical or possible, relationship between federal income tax rates and tax revenues
- 6. supply curve hypothetical curve showing different levels of real GDP that would be produced at various price levels
- 7. equilibrium amount of real GDP consistent with a given price level; intersection of aggregate supply and aggregate demand
- 12. demand the total value of all goods and services demanded at different price levels
- 13. the branch of economic theory focused on the economy as a whole and decision making by large units, such as government and unions
- 15. insurance government program providing payments to the unemployed; an automatic stabilizer
- 16. policies economic policies designed to stimulate the economy by removing government regulations and lowering marginal tax rates to increase production
Down
- 1. supply the total value of all goods and services that all firms would produce in a specific period of time at various price levels
- 2. demand curve hypothetical curve showing different levels of real GDP that would be purchased at various price levels
- 4. use of government spending and revenue collection measures to influence the economy
- 5. relaxation or removal of government regulations on business activities
- 6. change in investment spending caused by a change in overall spending
- 7. change in overall spending cause by a change in investment spending
- 8. price price when quantity supplied equals quantity demanded; price that clears the market
- 9. unsteady
- 10. stabilizers programs that automatically provide government benefits during an economic downturn; unemployment, insurance and entitlement programs
- 11. program or benefit using established eligibility requirements to provide health care, food, or income supplements to individuals
- 14. economics government spending and taxation policies suggested by John Maynard Keynes to stimulate the economy; synonymouse with fiscal policies or demand-side economics