Across
- 3. occurs when expenses exceed revenues, imports exceed exports, or liabilities exceed assets
- 5. based on the ad hoc judgment of policymakers as opposed to policy set by predetermined rules
- 8. the financial obligations of a national government
- 11. economic theory of total spending in the economy and its effects on output, employment, and inflation
- 13. the proportional amount of increase or decrease in final income that results from an injection or withdrawal of spending
- 14. a short-term debt obligation backed by the U.S. Treasury Department with a maturity of one year or less
- 15. combat economic distortions caused by an overheating economy
- 16. occurs when government spending exceeds its revenue
- 20. government debt securities issued by the U.S. Federal government that have maturities greater than 20 years
Down
- 1. mechanisms built into government budgets
- 2. economic growth is stimulated through fiscal policies designed to increase the supply of goods and services
- 4. designed to hold and manage assets on someone else's behalf, with the help of a neutral third party
- 6. individuals base their decisions on human rationality
- 7. Keynesian economists' belief that demand for goods and services drive economic activity
- 9. of government spending and tax policies to influence economic conditions
- 10. a U.S. government debt security with a fixed interest rate and maturity between two and 10 years
- 12. the amount of an asset or resource that exceeds the portion that is utilized
- 17. theory formalized by supply-side economist Arthur Laffer to show the relationship between tax rates and the amount of tax revenue collected by governments
- 18. stimulate the economy and promote economic growth
- 19. relating to government revenue, especially taxes