Economics

1. unit that allows consumers to do their banking without the help of a teller
4. exchange of goods and services for other goods or services
5. the world’s largest trade agreement
6. income total income that individuals receive before personal taxes are paid
8. quota restriction imposed on the number of units of a particular good that can be imported
12. complete restriction on the import of export of a certain good
13. rate interest rate on which the fed charges on loans to bank members
16. term used by karl marx for his ideal society
18. indicators statistics that measure variables in the economy
21. supporters of the theory of monetarism
22. gdp GDP that has been adjusted for inflation by applying the price deflator
24. loss of value because of wear and tear to durable goods and capital goods
26. tariff tax on imports used primarily to raise government revenues
28. Union organization of European nations
31. summation of all the individual parts in the economy
32. prolonged rise in the general price level of goods and services
35. nations nations in the relatively high standards of living
36. redistribution government activity that takes income from some people through taxation and uses it to help citizens in need
37. income total income earned by everyone in the country

2. lags periods between the time fisical policy is enacted and the time it becomes effective
3. domestic product total dollar value of all final products and services in a nation
4. cycle irregular changes in the level of otal out-put measured by real GDP
6. tariff tax on imports to raise the price of imported goods
7. basket/ representative group of goods and services used to compile the consumer price index
9. power the real goods and services that money can buy
10. Government program that provides health care for the aged
11. anything used as a medium of exchange
14. fluctuations ups in downs in the economy
15. social insurance program
17. state and federal public-assistance program that helps pay health care costs to low-income and disabled people
19. placement of industries under government ownership
20. year year used as a point of comparison for other years in a serious if statistics
23. funds rate interest rate that banks charge each other on loans
25. term used by karl marx referring to workers
27. trade agreement between Mexico, Canada, and the United States
29. goods goods or services the government supplies to its citizens
30. security federal program that provides monthly payments to retired
33. major slowdown of economic activity
34. prolonged decline in the general price level of goods and services
38. exports difference between what the nation sells to other countries and what it buys from other countries