Across
- 4. A total amount that is not adjusted for inflation
- 7. A tax that is a flat percentage of income earned, regardless of level of income
- 9. Federal ___________ rate is the interest rate at which one bank lends funds to another bank overnight
- 10. The ___________ bank is an institution that conducts a nation’s monetary policy and regulates its banking system
- 11. Any amount or debt that a firm or an individual owes
- 14. A fiscal policy the government passes to enact a new law that explicitly changes overall tax or spending levels with the intent of influencing the level of overall economic activity
- 16. Policies are intended to stimulate economic activity
- 18. Medium of ___________: whatever is widely accepted as a method of payment
- 21. The ___________ rate is the interest rate charged by the central bank on the loans that it gives to other commercial banks
- 24. Inflation ___________ is a rule that the central bank is required to focus only on keeping inflation low
- 25. Policies aim to reduce economic activity
- 28. Literally, trading one good or service for another, without using money
- 29. ___________ deposit: checkable deposit in banks that is available by making a cash withdrawal or writing a check
Down
- 1. The rate at which the general level of prices for goods and services in an economy rises over a period of time
- 2. ___________ Theory of Money: MV=PY
- 3. When governments receive more in taxes than they spend
- 5. Funds that a bank keeps on hand and that it does not loan out or invest in bonds
- 6. When governments spend more than they receive in taxes
- 8. A financial ___________ is an institution that operates between a saver with financial assets to invest and an entity who will borrow those assets and pay a rate of return
- 12. Something widely accepted in transactions for goods and services
- 13. Declared official by a government entity
- 15. Item of value that a firm or an individual owns
- 17. A tax in which people with higher incomes pay a smaller share of their income in tax
- 19. Unit of ___________: the common way in which we measure market values in an economy
- 20. Quantitative ___________ is the purchase of long term government and private mortgage-backed securities by central banks to make credit available in hopes of stimulating aggregate demand
- 22. The speed with which money circulates through the economy; calculated as the nominal GDP divided by the money supply
- 23. The budget when governments receive the same amount in taxes as they spend
- 24. ___________ deficits occur when a country is running both a trade and a budget deficit
- 26. A total amount that is adjusted for inflation
- 27. Store of ___________: something that serves as a way of preserving economic value that one can spend or consume in the future