Ch. 11 Economics Crossword

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Across
  1. 2. Metric used to measure inflation.
  2. 4. ⁠When does deflation occurs in the average price level of goods/services in an economy?
  3. 8. The total demand for goods and services at a given price level (a, b) is called ________ demand.
  4. 9. What model is strongly influenced by economists like Milton Friedman?
  5. 11. economic growth can occur in _________or long-run and each is explained differently.
  6. 12. Demand-side growth can be illustrated by using the production _________ curves model.
  7. 14. Economic growth occurs when there is an ________ in the productive potential of an economy.
Down
  1. 1. When the average price level increases but at a decreasing rate than before is called ___________.
  2. 3. If the Central Bank lowers the base rate, there is likely to be increased ___________ by firms and consumers.
  3. 5. Type of inflation caused by rising production costs.
  4. 6. A change to the _______ / quality of the factors of production has increased potential output of the economy.
  5. 7. Decrease in purchasing power⁠ __________
  6. 10. An ________ shift in a LRAS demonstrates long-term economic growth.
  7. 13. The value of all final goods and services produced in an economy, adjusted for inflation is called ______ GDP.