1. Several American companies would have gone bankrupt if the government hadn't .......... them out during the recession. The government made sure these companies would be able to survive by giving them money.

2. When the prices of goods fall on a national level because of a decrease in demand, .......... is occurring.

3. America was hit pretty hard by the recent .......... Many companies went out of business, lots of citizens lost their jobs, and housing prices fell in most areas.

4. If the buying power of money decreases because of rising prices on a national level, the country in which this situation is occurring is experiencing .......... .

5. America, England, Canada, and many other countries are .......... countries. This means that their economic system is based on private ownership of resources and goods and services are exchanged in a free market.

6. If someone is expected to make a payment on a loan and fails to do so, that person is said to have .......... on his or her payments.

7. During the recession, many .......... occurred. When people lost their jobs and couldn't pay their mortgages any longer, they lost their houses to the banks who owned them until the houses were paid-off in full.

8. A depression is one type of economic .......... . If any type occurs, a nation's government will step in to attempt to correct the situation and preserve economic stability.

9. Several companies during the recession were not able to pay their bills because they lacked the funds to do so. When a company is in this type of situation and petitions the courts to absolve the company of its debt, it is attempting to go .......... .

10. When a country's government takes ownership of an industry or asset from the private sector this is called