Across
- 2. low point in the business cycle when GDP drops 2 quarters in a row
- 6. word that follows debt____ and represents the maximum amount that the government is allowed to borrow
- 9. economic system in which the government controls the public ownership of all enterprise
- 13. a small number of companies competing to sell a product
- 16. the timeframe when the rate of price increases starts to slow down
- 17. a recession lasting a lengthy period of time
- 18. one competitor dominating an industry
- 20. a free market system
- 21. the minimum amount of funds that a bank must hold is called a ________ requirement
Down
- 1. quantity of products that consumers are willing to purchase at different prices
- 3. term used when revenue is greater than expenses
- 4. study of the overall activity of an economic system including employment, GDP and taxes
- 5. competition that is open to many companies selling similar merchandise with a wide range of prices
- 7. type of policy that represents government decisions for taxes and spending
- 8. part of the business cycle when business production falls and unemployment rises
- 10. focuses on the study of how individual consumers choose to spend and save
- 11. type of policy that represents the Federal Reserve and decisions centered around interest rates and supply of money
- 12. economic system in which government owns and operates most everything serving the public
- 14. type of competition in which the product is the same for everyone
- 15. term used when expenses are greater than revenue
- 19. the quantity of products that producers make available at different prices