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Across 4. a tax, in which people with lower incomes pay more than people with higher incomes 10. a sustained increase in the average price level 11. a sustained decrease in the average price level 12. the ability to produce more of a good with fewer resources than another country 15. a decline in real GDP that lasts 6 months or more 16. a tax, in which people with higher incomes pay a higher percentage rate than people with lower incomes 17. an extremely high rate of inflation 18. a tax, in which everyone pays the same percentage rate 19. a ____ budget occurs when government revenue and expenditures are equal

Down 1. a budget ____ occurs when government expenditures exceed revenue 2. the ability to produce a good at a lower opportunity cost than another country 3. growth of real GDP over time 5. the price at which quantity supplied equals quantity demanded 6. quantity demanded exceeds quantity supplied at a certain price 7. a decrease in the rate of inflation 8. the lowest point of real GDP in a business cycle 9. decline in real GDP over time 13. a budget _____ occurs when government revenue exceeds expenditures 14. quantity supplied exceeds quantity demanded at a certain price 18. the highest point of real GDP in a business cycle