Economics

123456789101112131415
Across
  1. 5. The next best opportunity forgone
  2. 8. A payment made to firms or consumers to encourage an increase in output
  3. 12. A good where an increase in income leads to a decrease in demand
  4. 15. Negative growth in Real GDP for two or more fiscal quarters.
Down
  1. 1. The cost of borrowing money.
  2. 2. Few barriers to international trade between countries without the intervention of import tariffs, quotas, and other forms of import controls.
  3. 3. The difference between the actual level of national output and its potential level.
  4. 4. Government expenditure exceeds total tax revenue
  5. 6. The difference between the minimum price accepted by the producer for a good and the actual price of the good
  6. 7. Consumers' expenditure on goods and services. Component of AD
  7. 9. The amount producers are willing and able to sell at a given price over a given period of time
  8. 10. The amount that consumers are willing and able to buy at a given price over a given period of time
  9. 11. Goods that deliver consumption services over an extended period of time.
  10. 13. Goods/services sold abroad.
  11. 14. GDP measured taking inflation into account