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Economics - Unit 4

Teacher: Mr. Carpenter
A declining economic period for at least 6 months.
The power of government to take an individual's property for public use.
The establishment, by the government, of rules aimed at influencing the behavior of firms and individuals.
The market value of all final goods and services a country produces.
A tax that takes a smaller share of income as income increases.
Unemployment resulting from advances in technology.
A tax on property that a person leaves behind after death.
A tax that takes the same share of income at all levels.
The combination of two or more firms into a single firm.
Unemployment when a business closes for part of the year.
An increase in the overall price level of goods and services.
Unemployment when someone is in-between jobs.
When costs to taxpayers of paying a tax exceed the revenues gained by the government.
Occurs when prices go down over time.
The process of removing government restrictions.
The more you make, the more they take.
Inflation that occurs normally as time goes by.
A tax on certain items, like luxury items or alcohol and cigarettes.