Across
- 1. the economic condition that occurs when expenditures exceed revenues.
- 3. government benefits that all citizens meeting eligibility criteria-such as age, income level, or unemployment- are legally "entitled" to receive.
- 5. a decline in the economy that occurs as investment sags, production falls off, and unemployment increases.
- 6. government requirements that a portion of member bank's deposits be retained as backing for the loans.
- 8. in the federal reserve system, a seven member board that makes most economic decisions regarding interest rates and the supply of money.
- 10. programs that require that beneficiaries have incomes below specified levels to be eligible for benefits.
- 11. the buying and selling of government securities by the federal reserve bank
- 14. large-scale, monopolistic businesses that dominate an industry.
- 15. the deliberate use of the national government's taxing and spending policies to maintain economic stability.
- 16. a 1935 law that established old age insurance; assistance for the needy, aged, blind, and families with dependent children, and unemployment insurance.
- 17. a situation in which there is economic growth, rising national income, high employment, and steadiness in the general level of prices.
- 19. the total market value of all goods and services produced in an area during a year.
- 20. a reduction in market controls (such as price fixing, subsidies, or controls on who can enter the field) in favor of market-based competition.
- 21. a french term meaning "to allow to do, to leave alone." It holds that active governmental involvement in the economy is wrong.
Down
- 2. alternative to the laissez-faire state; the government took an active role in guiding and regulating the private economy.
- 4. the rate of interest at which the federal reserve board lends money to member banks
- 7. programs that provide cash assistance to qualified beneficiaries, regardless of income. Among these are social security and unemployment insurance.
- 9. a form of government regulation in which the nation's money supply and interest rates are controlled.
- 12. government regulation of business practices, industry rates, routes, or areas serviced by particular industries
- 13. a rise in the general price levels of an economy.
- 18. fluctuations between periods of economic growth and recession, or periods of boom and bust.