Chapter 9 & 10

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Across
  1. 4. the various resources in an economy including both physical resources and such human resources as ingenuity and management skills
  2. 5. higher price levels increase the interest rate which in turn causes businesses and consumers to reduce desired spending due to the higher cost of borrowning
  3. 7. the total of all planned expenditures in the entire economy
  4. 9. total real domestic output divided by the number of workers
  5. 12. the study of factors that contribute to the economic growth or a country
  6. 15. a persistent decline in prices resulting from economic growth in the presence of stable aggregate demand
  7. 17. the change in expenditures resulting from a change in the real value of money balances when the price level changes
Down
  1. 1. a theory of economic growth that examines the factors that determine why technology, research, innovation, and the like are undertaken and how they interact
  2. 2. a curve showing planned purchase rates for all final goods and services in the economy at various price levels, all other things held constant
  3. 3. that which is not consumed
  4. 6. a rule stating that the approximate number of years required for per capita real GDP to double is equal to 70 divided by the average rate of economic growth
  5. 8. the total of all planned production for the economy
  6. 10. transforming an invention into something that is useful to humans
  7. 11. increases in per capita real GDP measured by its rate of change per year
  8. 13. a vertical line representing the real output of goods and services after full adjustment has occured
  9. 14. a higher price level induces foreign residents to buy fewer U.S. made goods and U.S. residents to buy more foreign-made goods, thereby reducing net exports and decreasing the amount of real goods and services purchased in the U.S.
  10. 16. a government protection that gives an inventor the exclusive right to make, use or sell an invention for a limited period of time