Across
- 2. A tax system that levies the same percentage on products or goods purchased regardless of the buyer's income and therefore affects disproportionately low income earners.
- 4. Monetary inflation occurring at a rapid, excessive, and out-of-control rate. Typically prices increase more that 50% per month.
- 8. A tax based on wages, salaries, and tips paid to employees that are withheld from the employee's salary by an employer who remits it to the government on their behalf. (Typically payroll taxes are divided into a few main categories, such as Medicare and Social Security, as well as federal unemployment programs.)
- 9. A tax system that is based on the taxpayer's ability to pay. It imposes a higher tax percentage rate on taxpayers with higher incomes, and a lower tax rate on low-income earners.
- 10. A tax on items or services considered undesirable or harmful.
- 11. A form of structural unemployment, associated with the decline of certain industries, that is heavily concentrated in particular regions.
- 14. A tax charged by the government on the sale of a particular good or service, usually alcohol, fuel, and tobacco, the taxes are included in the price of the product.
- 15. A tax system that applies the same tax rate or percentage to everyone. Usually a fixed rate, that is the same for low, middle, and high-income taxpayers. Proportional taxes are sometimes referred to as flat taxes.
- 16. A tax based on the value of the property, usually real estate, paid by the property owner or other legal entity to the local government.
- 18. A situation when a person is unemployed because of not being able to find employment of their own choice, not accepting a job because of the wage rate, or they are satisfied with the amount they receive from government benefits while not working.
- 19. The combination of two economic principles of stagnation and rising inflation.
- 21. A situation when workers experience unemployment at particular times of the year when the demand has decreased.
Down
- 1. A tax that is imposed directly on income generated by businesses and individuals.
- 3. A general increase in prices and fall in the purchasing value of money.
- 5. A type of unemployment which is related to the cyclical trends in the industry or the business cycle, unemployment that results directly from cycles of economic upturn and downturn.
- 6. Refers to a prolonged period that lacks movement, such as activity, growth, or development in the economy.
- 7. A service or product that gains a competitive advantage by being the first to market with a product or service (three words).
- 12. A tax based on the market value of an entity's owned assets. (This includes the total value of personal assets, including cash, bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts.) Also called “capital tax” or “equity tax.”
- 13. A type of unemployment resulting from industrial reorganization, typically due to technological change.
- 17. A type of unemployment. The result of voluntary employment transitions within an economy, due to the process of workers choosing to leave their jobs in search of another.
- 20. A fixed price charged for a specific service, usually for recouping costs of operation. Fees are applied in a variety of ways such as costs, charges, admissions, and penalties.