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Economics Terms
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Economics Terms
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25 Questions

1. Creeping inflation

2. Total taxes paid divided by the total taxable income

3. Law of supply

4. Black market

5. Adjustment of tax brackets to offset the effects of inflation

6. Storming

7. Market

8. Imperfect competition

9. Gross domestic product

10. Trade deficit

11. Labor union whose workers perform the same kind of work; same as craft union

12. Short run

13. Double taxation

14. Entrpreneur

15. Nonprice competition

16. Greatest period of economic decline in united states history - lasting from approximately 1929 to 1939

17. Production possibilities frontier

18. Economic equity

19. Tax on the transfer of property when a person dies

20. Net national product

21. Protest in the form of a refusal to buy - including attempts to convince others to join

22. Modified private enterprise economy

23. Institution that channels savings to investors; banks - insurance companies - savings and loan associations - credit unions

24. Workfare

25. Better business bureau

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