Economics Crossword

4. The total value of all goods and services produced in an economy in a given period.
6. The market price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.
11. The opposite of Quantitative Easing
14. When MSC > MSB
15. Defined as less than $2.15 a day at PPP
16. The study of how individuals and firms make decisions and allocate resources in markets.
19. A measure of the general level of prices in an economy.
20. When temporary shocks have permanent effects
21. A tax on an import
22. A situation where one party has more information than another, leading to market inefficiencies.

1. A situation where the quantity of a good demanded exceeds the quantity supplied at a given price.
2. Actions taken by the government to influence economic activity, such as taxation and spending.
3. When government actions result in outcomes worse than if they had not intervened at all.
5. A tax system where the average tax rate increases as income increases.
7. Actions taken by the government to control the money supply and interest rates to influence economic activity.
8. When prices are rising at a decreasing rate
9. The name of the effect when asset prices change affecting animal spirits
10. A measure of how responsive quantity demanded is to a change in price.
12. The study of the overall economy, including factors like inflation, unemployment, and economic growth.
13. A market structure characterized by a single seller of a unique product with significant barriers to entry.
17. 1/1-MPC
18. A system where goods and services are exchanged, and prices are determined by supply and demand.