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Chapter 16
| Question | Answer |
|---|---|
| A group of several companies organized to benefit from the high prices they all agree to charge. | Trust |
| A single business that controls a market. | Monopoly |
| Regulation of the money supply by the Federal Reserve System. | Monetary Policy |
| A governemt's decisions about the amount of money it spends and the amount it collects in taxes. | Fiscal Policy |
| A slowdown in economic activity and production. | Recession |
| A repeated series of "ups" of growth and "downs" of recession. | Business Cycle |
| A time in the economy when there is almost no economic activity or production. | Depression |
| A general rise in the price level of goods and services. | Infation |
| The total dollar value of all final goods and services produced within the country in a year. | Gross Domestic Product |
| The government's plan for how it will raise and spend money. | Federal Budget |
| The total amount of money the government owes to lenders. | National Debt |
| The amount in a year by which government spending is greater than government income. | Deficit |
| A tax on what individuals and businesses earn. | Income Taxes |
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