Across
- 4. The difference between how much a consumer is at most willing to pay for a good and how
- 5. equipment and factories.
- 9. Growth policies aiming at expansion of export revenues as the vehicle of economic growth;
- 10. relief aid usually as a result of a natural catastrophe or war. (2 words)
- 11. Goods that are jointly consumed, for example,coffee and sugar.
- 12. they actually pay. (2 words)
- 14. Income not spent on domestic goods and services.
- 19. When the average price level continues to rise but at a slower rate so that the rate of inflation is positive but lower.
- 22. Interest rates that have been adjusted for inflation.(3 words)
- 23. Where two or more countries share the same
Down
- 1. contrasted to import substitution. (2 words)
- 2. The provision of small loans to poor
- 3. Aid given to alleviate short-term suffering, consisting of food aid, medical aid, and
- 6. Lower quality goods for which higher quality substitutes exist; if incomes rise, demand for the lower quality goods decreases. (2 words)
- 7. usually over a period of a year. (2 words)
- 8. and have a common central bank. (2 words)
- 9. who lack access to traditional banking services.
- 13. A decrease in the value of a currency in a fixed exchange rate system.
- 15. Technology that relies mostly on the relatively abundant factor an economy is endowed with (2 words)
- 16. quarters.
- 17. When government expenditures exceed
- 18. Occurs when real GDP falls for at least two
- 20. Spending by firms on capital goods such as
- 21. Refers to the repayment of principal and interest on the debt of a person, a firm or a country. (2 words)