Macroeconmics Crossword Puzzle

QUESTIONS LIST:

• aggregate demand: total demand in the economy (expenditure + exports + investment +government spending)
• aggregate supply: total supply in the economy.
• balanced budget: government income = government expenditure
• budget: government income & government expenditure for a l year period.
• budget deficit: government expenditure is greater than its income for that year.
• budget surplus: government income is greater than its expenditure for that year.
• circular: _ flow of income - model showing the flow of money, factors of production &goods/services in the economy.
• direct: _ taxes - taxation on income and wealth (income tax, corporation tax, inheritance tax, capital gains tax).
• fiscal policy: use of taxation and government spending to influence the economy.
• indirect: _ taxes - taxation on spending (vat, excise duties, import taxes)
• interest rates: cost of borrowing or reward for saving money. base rate set by the central bank. commercial bank rates generally follow base rate changes but at a higher total rate.
• monetary policy: use of interest rates or the money supply to influence the economy.
• progressive: _ taxes - usually implemented through direct taxes & take a higher % of income as tax from higher earners.
• regressive: _ taxes - usually associated with indirect taxes - taking a higher % of income from lower earners.
• taxation: form of income for the government through direct or indirect charges (taxes).