Econ Final Project - Mrosewske

6. when the government spends less money than it takes in
9. there is no such thing as free lunch
13. places or arrangements that allow buyers and sellers to exchange products
15. when a change in price causes a small change in quantity demanded
16. a list of prices and the quantities demanded
18. something tangible that satisfies our wants or needs
19. where most of the government's (money) revenue comes from
21. both recession and inflation together
22. when a change in price caused a big change in quantity demanded
24. 5% or lower unemployment rate
25. increasing the money supply
26. costs of the next-best alternative use of money, time, or resources when making a choice

1. how quickly prices are rising every year
2. the government plan for collecting taxes and spending
3. a bank for banks
4. decreasing the money supply
5. 4% or lower CPI (consumer price index)
7. the percentage of 16+ who want a job but don’t have one
8. people are free to engage in market transactions as they see fit
10. when the government spends more money than it takes in
11. goods that are used together
12. money paid to businesses
14. a “shrinking” economy producing fewer goods and services than it did before - or GDP (gross domestic product) decreasing
17. goods that can be used in place of each other
20. the condition that results from society not having enough resources to produce all the things we would like to have
23. something intangible that satisfies our wants or needs