Macro Economics Unit

When a government controls the supply and demand in a country.

The monetary authority of US that sets monetary policy.

Government taxation and spending- aka the budget

The amount a country goes into debt each year.

Excess of trade exports over imports. Also amount if collected taxes are higher than spending

When government gives money to certain industries such as farmers.

A tax on exports and imports

A governments strategy in dealing with other nations.

Goods that enter a country.

When the government collects money to pay for government services.

Not allowing movement of merchant ships/products in and out of ports of trade

One specific person or firm that is the only supplier of a good/service in the market

Total market value of goods and services for all companies in a country in one year.

a small number of sellers of a good/service in the market

A monetary penalty on a foreign government.

Includes a mix between free markets (lassie faire) and command markets

Process by which government controls money supply to get economic growth.

The overall amount a group owes.

Monitoring and enforcement of laws established by a government

Official representative of a country

Goods that exit a country.