THE GOVERNMENT AND THE ECONOMY

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Across
  1. 2. Company pulls a product off the market or agrees to change it to make it safe
  2. 3. When a person who is actively searching for employment is unable to find work.
  3. 9. It excludes those who are unwilling or unable to pay for the private good, but does not apply to public goods that are known to be indivisible
  4. 10. Measure of the price level
  5. 14. People 16 years of age and older who are not inmates of institutions (penal, mental facilities, homes for the aged), and who are not on active duty in the Armed Forces
  6. 17. Some individuals in a population either consume more than their fair share of a common resource, or pay less than their fair share of the cost of a common resource.
  7. 19. Shows an economy’s production after the distortions of price increases have been removed.
  8. 20. Laws to control monopoly power and to preserve and promote competition.
Down
  1. 1. Real GDP goes down for six straight months
  2. 4. a monopoly in an industry in which it is most efficient (involving the lowest long-run average cost) for production to be permanently concentrated in a single firm rather than contested competitively
  3. 5. Combination of two or more companies to form a single business
  4. 6. No one is excluded from consuming the benefits of a public good whether or not he or she pays.
  5. 7. A product that one individual can consume without reducing its availability to another individual and from which no one is excluded
  6. 8. A product that must be purchased in order to be consumed, and whose consumption by one individual prevents another individual from consuming it.
  7. 11. Exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices.
  8. 12. Periods of expansion or recession
  9. 13. People who have jobs or are seeking a job, are at least 16 years old, are not serving in the military and are not institutionalized.
  10. 15. Banned monopolies and other business combinations that prevented competition
  11. 16. unintended side effect of an action that affects someone not involved in the action.
  12. 18. Sustained increase in the general level of prices.