Across
- 1. unemployment involving workers changing jobs or waiting to go to new ones
- 3. unemployment caused by annual changes in weather or other conditions that reduce the demand for jobs
- 6. the worth that can be expressed in dollars and cents
- 7. products or services that can be easily replaced with another
- 8. ratio between outputs and inputs
- 9. a commercial bank that is a member of, and hold shares of stocks in, the Fed banks
- 11. easy way to achieve distribution, that is, investing in a large number of companies instead of just one.
- 13. there is no such thing as free lunch
- 14. a bank that can lend to other banks in times of need
- 18. rapid uncontrollable inflation
- 20. imposes the same percentage rate of taxation on everyone.
- 21. other related goods
- 23. an increase in prices in general
- 24. the struggle amongst sellers to attract customers.
- 25. unemployment directly related to swings in the business cycle
Down
- 2. people invest in funds that are located in a specified area, other than the US
- 4. unemployment caused by a fundamental change in the economy that reduces the demand for some workers
- 5. the benefit gained from consuming one additional unit of a good or service.
- 10. the amount of a good or service that producers are willing to produce at different prices
- 12. something we would like to have but is not necessary.
- 13. the use of scarce resources, and nearly all other economic activity, stems from a ritual custom.
- 15. a tax imposes a higher percentage rate of taxation on people with higher incomes
- 16. a benefit given by the government to an individual or a business
- 17. the amount of a good or service that customers are willing to purchase at different prices.
- 19. when the economic system is controlled by private owners and businesses.
- 22. a basic requirement for survival