Economics Vocabulary ListedListed belowbelow are vocabulary wordswords that, upon completion of theofunit instruction, should be familiar to are vocabulary that, upon completion theofunit of instruction, students. These words are introduced in the student text. Some of these words will usedofin the should be familiar to students. These words are introduced in the student text. be Some CRT’s. Every effort make the readability ofbeen eachmade CRT to appropriate these words willhas be been used made in the to CRT’s. Every effort has make the for the grade level at which the assessment was written. If needed, teachers are allowed to assist studentswas with reading and readability of each CRT appropriate for the grade level at which the assessment comprehending or are phrases theytomay encounter the CRT assessment. The written. Ifdifficult needed, words teachers allowed assist studentsduring with reading and following are guidelines for providing assistance. comprehending difficult words or phrases they may encounter during the CRT assessment. The following are guidelines for providing assistance. Any may be pronounced to a student as necessary. word(s) Any word(s) may be pronounced to a student as necessary. Additional assistance may be given for words that do notdoappear on theonlist thebelow list Additional assistance may be given for words that not appear (defining words, providing context clues, giving examples, etc.). below (defining words, providing context clues, giving examples, etc.). Do clues clues that may figurefigure out the answer. not Doprovide not provide that help may students help students outcorrect the correct answer absolute advantage annual percentage rate authoritarian socialism bankruptcy bear market bull market business cycle capital good capital resource capitalism command economy common stock communism comparative advantage conglomerate combination consumer contraction corporations credit rating customs duty cyclical unemployment deflation demand side economics democratic socialism depression differentiate discount rate diversification easy-money policy economics embargo EU (European Union) excise tax expansion externality factor of production financial investment fiscal policy fixed expense flexible expense franchise free trade frictional unemployment Gross Domestic Product Gross National Product horizontal combination human resource hyperinflation import quota incentive inflation rate interest law of demand law of supply leading indicators liquidity macroeconomics market economy maturity merger microeconomics mixed economy monetary policy monopolistic competition Printed 10/5/2006 monopoly municipal bonds NAFTA (North American Free Trade Agreement) natural resource nonprice competition oligopoly partnerships peak perfect competition preferred stock prime rate principal producer progressive tax proportional tax protectionism public good real investment recession regressive tax resource savings rate seasonal unemployment sole proprietorship stock structural unemployment subsidiary supply side economics tax rate tight-money policy time deposit trade barrier traditional economy unemployment rate vertical combination Printed 10/5/2006 Printed 10/5/2006