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The amount by which government income is greater than spending.
A genral rise in the price level of goods and services
A single business with the power to control prices.
A repeated series of economics " ups and " downs.
Regulation of money supply by the Federal Reserve System.
The amount by which government spending is greater than income.
Companies that benefit from the high prices they all agree to charge.
Coins and paper bills used as money in an economy.
The total amount of money available for use as a meduim of exchange.
A slowdown in economic activity and production.
Money in checking account.
Exchanging goods and services for other goods and services.
An amount of money borrowed for a certain time period.
Increased production of goods and services nationally.
Game i which people buy tickets in hopes of winning a prize.
Affects higher-income earners at a greater rate han lower-income earners.
Tax paid by the person against whom it is levied.
Fee charged on certain types of goods.
Situation when anyone who wants to work can find work.
Provides benefits to people who by law must receive them.
A period of dropping prices.
National income accounting
Keeping track of national income and spending.
Scenario that occurs when planned spending is equal to income.
Tax added to goods and services when they are sold.
Tax that affects lower income earners at a higher rate than higher earners.
Tax based on wages or saleries.
Tax imposed at the same rate for people of all incomes.
A tax that is paid by someone other than the person against whom is is levied.
Certificate sold on the promise of laer repayment, with interest.
The government or a central authority makes basic economic decisions.
Factors of production
Resources for producing goods and services to satisfy people's wants.
An economy that is a combination of the three basic systems.
An economy in which basic decisions are made according to custom.
The buying or using of goods and services.
Use your money to help a business get started.
The practical application of science to commerce or industry.
People make their own choices about production and consumption.
Inderect payments for work.
Occupation you train for and pursue as a lifework.