1-7 Inflation Bubbles & Tulips

1234567891011121314151617181920
Across
  1. 6. Price of fidget spinners rises a lot, because most people are making emotional decisions; this is a ___ .
  2. 7. Could be bidding up prices, or increased production costs, but inflation always means ___ ___ than goods.
  3. 8. Since supply/demand cannot explain the rise in home prices in 2008, the rise in home prices was a ____ .
  4. 11. A ___ in ___ is the same as a cut in wages, and vice versa, because your purchasing power decreased.
  5. 13. Gardens became a fad among wealthy merchants, driving up prices & creating a ___ ___ in the 1600s.
  6. 14. ____ means prices go up over time. You get a 2% raise, but prices rise 5%. That means you didn't get a raise.
  7. 15. When there isn’t enough oil to make gas, and gas prices rise quickly, this is called ___ ___ Inflation.
  8. 16. ___ ___ is a list of common items that most people buy. We use those prices to measure inflation.
  9. 17. If you ask your employer for a raise, make sure your increase in pay is ___ for inflation.
  10. 19. People believed they could sell their home at a higher price to someone else, but ran out of ___ ; The bubble burst.
  11. 20. Divide the basket cost of each year by the basket cost in the base year: this is the consumer ___ ___ .
Down
  1. 1. When the average price of goods and services drops over time, we called that ____ .
  2. 2. Consumer Price Index is used to calculate the ___ of ___ , or how quickly the price level is rising.
  3. 3. ___ ___ occur when everyone wants a certain product, but there’s not much of that product available.
  4. 4. Venezuela tried to keep the economy growing by ___ ___ money, but that resulted in soaring prices.
  5. 5. If the price for frosted flakes in 1972 is not adjusted for inflation, that price is ___ .
  6. 9. Being rich isn't about how much money you have. It's about ___ power. You can’t be rich without products to buy.
  7. 10. Venezuela has inflation. They have huge amounts of oil. But ___ ___ don't equal economic bliss.
  8. 12. When several rich people enter a bidding war over an item, driving up prices, this is ___ ___ inflation.
  9. 18. Another cause of inflation is the decrease of availability of a resource, like an oil ____ .