I.Fill in the blank

1.While the study of economic activities of individuals, households, and businesses at the sub-national level is the concern of __________________, the study of economic activities at the national and global level is the concern of __________________.

2.When producers change their level of output, rather than price, in response to higher or lower sales, this is called _____________________.

3.The increase in the level of production in a country or region is called _______________ growth while improvements in diet, housing, medical attention, education, working conditions, access to care, transportation, communication, entertainment, etc. is called growth.

4.The process of moving from a situation of poverty and deprivation to a situation of increased production and plenty is referred to as _____________.

5.The fluctuations in the level of production, including recessions on the one hand and booms on the other hand, is called _____________.

6._____________ takes the form of a commodity with intrinsic value.

7._____________ is used as money because of government decree.

8.Currency (notes and coins) issued by the Central Bank are called _____________.

9.The _____________ is the minimum fraction of deposits that banks are required to keep as reserves.

10._____________ is conducted when the government controls the money supply.