The Government & National Income

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Across
  1. 2. It is the inability to obtain a job when one is willing and able to work
  2. 5. The total value of goods and services produced in an economy over a period of time, usually a year
  3. 8. The purchase of capital goods, to help in the production of other goods and services. For example, a pot that is used to boil channa in the production of doubles
  4. 11. The total value of goods and services produced by locally owned resources whether they are located domestically or abroad, usually over a year
  5. 12. Also called a less developed or underdeveloped economy, it is a nation with an underdeveloped industrial base, and a low Human Development Index relative to other countries
  6. 14. The portion of income that is not spent
  7. 15. The use of money supply and interest rates to influence the level of aggregate demand in the economy and control variables such as unemployment and inflation
  8. 16. An increase in the real GDP or real output of goods and services produced from one year to the next, usually expressed as a percentage
  9. 17. The income a person has to take home, after income taxes have been paid to the government
  10. 18. A summary of the government’s planned revenue and expenditure for the year
Down
  1. 1. The use of taxes and government spending to influence the level of aggregate demand in the economy and control variables such as unemployment and inflation
  2. 3. Those who are actively engaged in the labour force, that is, they possess a job which earns them money
  3. 4. A record of a country’s transactions with the rest of the world, usually over a year
  4. 6. The reduction in the general level of prices in the economy
  5. 7. A sustained increase in the general price level from one year to the next. It does not mean that all prices are rising but on average they are
  6. 9. The total value of goods and services produced within the geographical borders of a country by locally or foreign owned resources usually over a year
  7. 10. Not the same as economic growth. This measures the increase in standard of living or welfare of citizens in an economy
  8. 12. Also called an industrialized or more economically developed country, it is a state with a highly developed economy and advanced technological infrastructure
  9. 13. The total amount of money a government owes internally to citizens and externally to foreign institutions