Economics Crossword

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Across
  1. 2. restraining trade between countries through methods such as tariffs on imported goods
  2. 4. a political theory derived from Karl Marx
  3. 6. international trade left to its natural course without tariffs, quotas, or other restrictions
  4. 8. an American economist and statistician best known for his strong belief in free-market capitalism
  5. 10. broadest quantitative measure of a nation's total economic activity
  6. 12. an index of the variation in prices paid by typical consumers for retail goods and other items
  7. 16. hands off government
  8. 18. bottom point on graph
  9. 19. everyone is eligible to work
  10. 21. famous economist born in Vienna, Austria
  11. 23. an individual retirement account
  12. 25. measure of what an entity is worth
  13. 26. currency that a government has declared to be legal tender, but is not backed by a physical commodity
  14. 30. an increase in the value of one currency in terms of another
  15. 32. ability to produce a better quality good using the same resources
  16. 35. policy macroeconomic policy laid down by the central bank
  17. 37. allows business owners to measure the additional benefits of one production activity versus its costs
  18. 39. a situation when the price charged is more than or less than the equilibrium price
  19. 40. use of monetary or fiscal policy changes to kick start a lagging or struggling economy
  20. 43. known for Wealth of Nations
  21. 44. measure of average income per person in a country
  22. 45. complete control over imdustry
  23. 46. situation in which income exceeds expenditures
  24. 48. a state of limited competition
  25. 49. money granted to help an industry
  26. 50. measurement of "useful-ness" that a consumer obtains from any good
Down
  1. 1. the system by which the value of a currency was defined in terms of gold
  2. 3. used by economists to predict future economic activity
  3. 5. an agreement among the United States, Canada and Mexico designed to remove tariff barriers between the three countries
  4. 7. policy means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy
  5. 9. also known as the "the Fed"
  6. 11. measures how efficiently production inputs
  7. 13. situation when the price charged is more than or less than the equilibrium price
  8. 14. when the demand for a product or service exceeds its supply in a market
  9. 15. if countries specialise in producing goods where they have a lower opportunity cost
  10. 17. government program guaranteeing access to some benefit by members of a specific group and based on established rights or by legislation
  11. 20. an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state
  12. 22. only global international organization
  13. 24. an economic system in which private business operates in competition and largely free of state control
  14. 27. resource that exceeds the portion that is utilized
  15. 28. advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole
  16. 29. smooth out the effects of expansion and contraction in the business cycle by using fiscal and monetary policy
  17. 31. the less amount of money allowed to get paid when working
  18. 33. the amount by which the cost of a country's imports exceeds the value of its exports
  19. 34. an account that is used to set aside funds to be used in an emergency
  20. 36. top point on graph
  21. 38. mass production
  22. 41. increase of progress
  23. 42. decline of progress
  24. 47. low supply