Ch 16 Elps 1-12

Front 1

Economic Freedom

Back 1

the freedom to own property, to make a profit, and to make choices about what to produce, buy, and sell.

Front 2

Trust

Back 2

agroup of several companies organized to benfit from the high prices they all agree to charge.

Front 3

Monopoly

Back 3

sigle business with monopoly power is often called a

Front 4

Business Cycle

Back 4

a repeated series of ups of growth and downs of recession

Front 5

Monetary Poicy

Back 5

Regulation of the money supply by the Federal Reserve System is called

Front 6

Fiscal Policy

Back 6

A goverment's deciisions about the amount of money it spends and the amount it collect in taxes are called it's

Front 7

Inflation

Back 7

is a general rise in the price level of goods and services

Front 8

Gross Domestic Product

Back 8

is the total doller value of all final goods and services produced within the country in a year

Front 9

Federal Budget

Back 9

is the goverment's plan for how it will raise and spend money

Front 10

Deficit

Back 10

is the amount in a year by which goverment spending is greater than government income

Front 11

Surplus

Back 11

is the amount in a year by which goverment income is greater than goverment spending

Front 12

National Debt

Back 12

the total amount of money the goverment owes to leader is called