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Economic Vocabulary

Across
Common currency of most European Union member states.
Economic and political union of 28 European nations.
Converting one nation's money into an equivalent value/quantity of another's
Block all trade with another nation. An embargo may be employed for safety reasons, but is more frequently used to punish rogue states
2016 referendum whereupon majority of British citizens voted for the UK to withdraw from the EU
Down
The average annual income of a nation's citizens.
Place a limit on imported goods. This is done so that cheaper imports do not flood domestic markets and put domestic market producers out of business.
Place a tax on imported good. This id done artificially inflate the price of a cheaper foreign product so as to make the price domestic products more competitive.
(The abbreviation is used for this word) Focusing on a narrow range of products/services that can be produced most efficiently and cost efficiently.
The estimated total value of all the final goods and services produced in a nation in a year's time.