National Econonmy Vocab

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Across
  1. 2. Economic activities not involving market exchanges, like volunteer work.
  2. 4. A tax where rates increase as income rises.
  3. 6. The sale of used goods, typically between individuals.
  4. 7. Government spending required by law, like Social Security.
  5. 8. Real GDP divided by the population to estimate average output per person.
  6. 10. A tax system with the same rate for all income levels.
  7. 18. The minimum income level required for a basic standard of living.
  8. 19. A 12-month period used for budgeting and accounting.
  9. 20. The reference year used for comparing economic data.
  10. 21. A tax on wages to fund programs like Social Security.
  11. 23. A tax on individuals' earnings like wages and investment income.
  12. 24. A population count and survey to gather demographic data.
  13. 26. A tax on imported or exported goods.
  14. 27. Government spending that can be adjusted through the budget process.
  15. 28. The amount individuals can spend or save after taxes.
  16. 29. The total value of all goods and services produced in a country.
  17. 31. Economic activity not regulated or taxed by the government.
  18. 32. A law that allocates government funds for specific purposes.
Down
  1. 1. A temporary measure allowing government operations if the budget isn’t passed.
  2. 3. Government actions on taxes, spending, and borrowing to influence the economy.
  3. 5. U.S. agency that administers and enforces federal tax laws.
  4. 9. Goods used in the production of other goods and services.
  5. 11. The total amount of money the government owes from borrowing.
  6. 12. A tax where rates decrease as income rises, impacting lower incomes more.
  7. 13. When government spending exceeds its revenue in a fiscal year.
  8. 14. The physical systems needed for society to function, like transportation.
  9. 15. The maximum amount the U.S. government can borrow.
  10. 16. When government revenue exceeds its spending in a fiscal year.
  11. 17. Income thresholds used to determine eligibility for assistance programs.
  12. 22. Government spending more than its revenue, requiring borrowing.
  13. 25. Central bank actions to control money supply and interest rates.
  14. 30. GDP adjusted for inflation to reflect actual economic growth.