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Across 1. Exports - Imports = _____ _____ 4. A decrease in private sector borrowing because of an increase in government borrowing 6. Total GDP / total population = GDP ______ 8. _________ economics primary objectives are: to shift aggregate supply curve; emphasis production side; a return to Classical Theory & restating Say’s Law 11. Person associated with comparative advantage 12. Comparative advantage is the ability to produce a good at a lower ___________ than its trading partners 13. Financial support given by the government to a particular industry

Down 2. The requirement of licenses to import or export certain products; issued in limited numbers 3. World output and the potential gains from trade, will be maximized when each country pursues its _________ advantage 5. Person associated with absolute advantage 7. _________ advantage is the ability of a country to produce a good with fewer resources (more efficiently) than other countries; Specialization 9. A limit on the quantity of a good that may be imported in a given time period 10. A tax imposed on imported goods