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Great Depression Terms Puzzle



2. A tool the Federal Reserve uses to implement monetary policy. Open market operations involve the selling or buying of Treasury securities on the open market.

4. When government expenditures exceed revenues.

6. The quantity of money available in an economy. The basic money supply in the United States consists of currency, coins and checking account (i.e., demand) deposits.

11. The relationship between how consumers feel about the economy and their spending and saving decisions.

12. When a bank’s liabilities (mainly deposits) exceed the value of its assets.

13. A tax on imported goods.

14. A general, sustained upward movement of prices for goods and services in an economy.

15. Earnings received as interest, rent, profit and wages or salaries.


1. The percentage of the labor force that is willing and able to work, does not currently have a job and is actively looking for employment.

3. The absence of inflation and the absence of deflation.

4. The sum of cash that banks hold in their vaults and the deposits they maintain with Federal Reserve banks.

5. When a bank run begins at one bank and spreads to others, causing people to lose confidence in banks.

7. A very severe recession; a period of severely declining economic activity spread across the economy (not limited to particular sectors or regions) normally visible in a decline in real GDP, real income, employment, industrial production, wholesale-retail credit and the loss of overall confidence in the economy.

8. A list or collection of financial assets that an individual or company holds.

9. A general downward movement of prices for goods and services in an economy.

10. The quality that makes an asset easily convertible into cash with relatively little loss of value in the conversion process.

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