Across
- 1. An acceptable level of unemployment just above 0%
- 5. Money stored somewhere for unforeseen situations
- 6. Trade without restrictions
- 8. Measure of preferences over some goods and services
- 9. The practice of shielding a country's industries from foreign competition by taxing imports
- 10. Global network that deals with international trade
- 12. A retirement account allowing a person to set aside after-tax income up to a certain amount each year
- 13. Government backed currency
- 15. The lowest a price can be
- 16. The central banking system of the United States
- 19. In short supply
- 21. When income exceeds expenditures
- 23. The decrease of value in money due to too much in circulation
- 26. indicators CPI, GDP, etc. are these
- 28. When a country can produce more of a product with less, comparatively, than its competitors
- 31. Agreement between the U.S., Canada and Mexico
- 33. Too much of something
- 34. Fought against heavy involvement by the government in the economy
- 35. Control at the hands of a few powerful entities
- 36. Believed that governments should play a heavy role in a country's economy
- 37. Government provided benefits to those meeting certain requirements
- 39. Measure of average income per person in a country
- 42. An economic low point
- 43. How the government monitors and influences a country's economy
- 44. For every dollar, there is gold somewhere to back it up
- 45. When an economy is unhealthy and shrinking
- 46. When an economy is healthy and growing
- 47. The economic system of total control by the government
- 48. The economic system of partial control by the government
Down
- 1. The freedom of businesses to operate for profit with little governmental regulation
- 2. Form of financial support given to a specific economic sector
- 3. An Austrian and British economist and philosopher best known for his defense of classical liberalism
- 4. The lowest amount that an employee can be paid
- 7. A lack of something
- 11. An increase in the value of a country's currency
- 14. When a country's imports are greater than its exports
- 17. When a country can produce more of a product than its competitors
- 18. The effectiveness of efforts in industries to get something done
- 20. The system of economic freedom
- 22. The hands-off policy
- 24. The total assets minus total outside liabilities of an individual or a company
- 25. Examination of additional benefits of an activity compared to the additional costs
- 27. Complete domination by a single entity
- 28. Statistical estimate made by using the prices of a sample of items whose prices are recorded periodically
- 29. The value of all finished goods and services produced in a country in a certain time period
- 30. Used to create a reaction in the economy
- 32. The way in which the money-based authority of a country controls the supply of money
- 38. The highest a price can go
- 40. An economic high point
- 41. Wrote 'Wealth of Nations', father of free trade