Across
- 1. A particular market is controlled by a small group of firms
- 3. The phase of the business cycle when the economy moves from a peak to a trough
- 4. The phase of the business cycle when the economy moves from a trough to a peak
- 5. A benefit given by the government to remove a burden
- 8. Promoted classical liberation in Austria's economy
- 12. A measure of average income per person in a country
- 17. A government adjusts its spending levels and tax rates to monitor and influence a nation's economy
- 18. The measurement of usefulness
- 20. The ability to produce goods more efficiently
- 25. An intergovernmental organization which regulates international trade
- 27. The broadest quantitative measure of a nation's total economic activity
- 32. Introduces fiscal policy and hates unemployment
- 34. The production and distribution of goods are controlled by the government
- 35. A government program guaranteeing access to some benefit by members of a specific group
- 36. Wants to stop printing money to stop inflation
- 37. The production and distribution are privately or corporately owned
- 38. The highest point in a business cycle
- 39. Fiscal policy to set tariffs on foreign goods
- 41. A government does not protect its interests from foreign powers
- 43. Using monetary or fiscal policy changes to kick start a struggling economy
- 44. Organization the promotes free trade in North American countries
- 46. Everyone is employed
- 47. Lack of supply; Shortage
- 48. The ability to produce a greater number of goods
Down
- 2. Hands-off government
- 6. Lack of supply
- 7. A market is controlled by a single seller, selling a unique product in the market
- 9. An account that is used to set aside funds to be used in an emergency
- 10. Father of Free Market
- 11. Exports<Imports
- 13. Few restrictions are placed on business activities and ownership and governments have minimal ownership of enterprises
- 14. An analysis of the benefits of an activity compared to the costs
- 15. Money that only has value because the government says so
- 16. The maximum a price can be
- 19. The central bank of the United States and the most powerful financial institution in the world
- 20. More direct measure than GDP
- 21. Ex. GDP, GDP growth rate, inflation
- 22. The total assets minus total outside liabilities of an individual or a company
- 23. A measure of output per unit of input
- 24. Exports>Imports
- 26. One unit of currency has a set value of gold
- 28. Management of money supply and interest rate to control inflation, consumption, growth and liquidity.
- 29. Lack of demand
- 30. Currencies slowly gain value
- 31. The minimum a price can be
- 33. The minimum a company can pay its employees
- 40. A sustained increase in the general price level of goods and services in an economy over a period of time
- 42. The lowest point in a business cycle
- 45. An individual retirement plan that bears many similarities to the traditional IRA, but are not tax deductible and qualified distributions are tax free