Across
- 4. A tax imposed on imports
- 7. The willingness and ability of consumers to buy products at different prices in a given time period
- 8. The willingness and ability of producers to sell products at different prices in a given time period
- 10. When the GDP falls for more than two consecutive quarters
- 11. when the production/consumption of a good or service harms/benefits a third party
- 13. A good that is non-rivalrous and non-excludable
- 14. The number of people actively seeking for a job but can't find one
Down
- 1. A limit on the amount of imports
- 2. A group of producers that agree to limit production or to increase prices
- 3. A sustained increase in the average price level
- 5. The process by which an injection into the circular flow in income creates a change in GDP greater than the original injection
- 6. Money given by the government to producers to increase production
- 9. cost The additional cost incurred for producing one more unit of output
- 11. A state where quantity demanded equals quantity supplied
- 12. The removal of trade barriers within a trading bloc, allowing members to buy from the cheapest member