Chapters 11-13, 18

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Across
  1. 2. reduction in the rate of inflation
  2. 4. also called recovery
  3. 6. the practice of a company having its work done by another company in another country
  4. 8. money accepted by law and not because of its redeemability or intrinsic value
  5. 11. variables that change at the same time that real GDP changes
  6. 12. contraction
  7. 13. government payment to individuals not in exchange for goods or services currently produced
  8. 15. serves as medium of exchange, unit of account, and store value
  9. 16. finished goods and services produced for the ultimate user
  10. 17. actual rate of interest without adjustment for the inflation rate
  11. 19. unemployment caused by the lack of jobs during a recession
  12. 20. rise in general price level resulting from an excess of total spending
  13. 21. having work for a company preformed by the company's employees located in another country
  14. 22. extremely rapid rise in general price level
  15. 23. decrease in general price level of goods and services
  16. 24. value of the stock of assets owned at some point in time
  17. 25. nominal rate of interest minus inflation rate
Down
  1. 1. variables that change after real GDP changes
  2. 3. the difference between actual real GDP and potential or full employment real GDP
  3. 5. actual number of dollars received over a period of time
  4. 7. goods and services used as inputs for the production of final goods
  5. 9. temporary unemployment caused by the time required of workers to move from one job to another
  6. 10. year chosen as a reference point for comparison with some earlier or later year
  7. 14. increase in general price level of goods and services
  8. 18. variables that changes before real GDP changes
  9. 19. model a diagram showing the exchange of money and resources between households and businesses
  10. 26. the value of all final goods produced during a given time period based on the prices existing in a selecting base year
  11. 27. ability of money to hold value over time