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Unit 5: Economic Performances and Challenges

Horizontales
the portion of an employee's wages that is not included in their paycheck but is instead remitted directly to the federal, state, or local tax authorities.
major plan for a federal government 's estimated future revenues and spending for the coming fiscal year.
a macroeconomic theory which states that governments can foster economic stability by targeting the growth rate of the money supply.
documentation filed with a tax authority that reports income, expenses, and other relevant financial information
the total monetary value of goods and services produced and offered within a country for a specific year.
a situation when a person who is actively searching for employment is unable to find work.
an increase in the amount of goods and services produced per head of the population over a period of time:
a consumption tax imposed by the government on the sale of goods and services.
a low turning point or a local minimum of a business cycle.
stagnant economic growth plus high inflation and high unemployment
the use of government spending and tax policies to influence economic conditions, especially macroeconomic conditions, including aggregate demand for goods and services, employment, inflation, and economic growth.
Verticales
net accumulation of the federal government's annual budget deficits.
when a nation’s economy experiences negative gross domestic product (GDP), rising levels of unemployment, falling retail sales, and contracting measures of income and manufacturing for an extended period of time.
when a government's expenditures exceed its revenues during a fiscal period, causing it to run a budget deficit
an extreme recession that lasts three or more years or which leads to a decline in real gross domestic product (GDP) of at least 10 percent.
current expenses exceed the amount of income received through standard operations.
study of how the allocation of resources and goods affects social welfare.
tax revenue is greater than government spending
an increase in the money supply and demand-pull inflation.