Econ Final

1. Rapid uncontrolled inflation at high rates is called
3. What detriment of demand are other related goods?
7. What is one of the things the government has to do in a free market economy
8. What kind of spending is the largest part of the GDP
9. What is a tax paid to businesses
10. Who makes the rules businesses have to follow
11. Who wants fewer/no trade restrictions? (2 words)
13. Who believed that the government should be active, even during times of recession or high inflation?
15. What factor of production is the manmade tools/equipment used for production?
18. What is the worst kind of economic problem
20. What is the largest part of spending in the federal budget (3 words)
21. What is the top/growth part of the business cycle called
22. What kind of tax is any sales tax? (2 words)
24. What is the detriment of demand where consumers lose their taste for a product (2 words)
25. Expansionary monetary policy is _____ the money supply

2. What kind of goods are not counted in the GDP
4. What is always going to be in a trade-off (2 words)
5. A graphic representation of a demand schedule (2 words)
6. A list of prices and quantities demanded. (2 words)
12. What is considered the worst kind of unemployment
14. What is the GDP (3 words)
16. Where goods can be bought and sold is called a...
17. In a free market economy, who controls what is made?
19. What is it called when the government spends more money than it collects? (2 words)
23. What 2 things are constantly clashing with each other? (3 words)