Economics

3. any physical property or financial claim that is owned
5. a decline in total production lasting at least two consecutive quarters
6. workers are overqualified for their jobs or work fewer hours than they would prefer
10. the European common currency
11. household purchases of final goods and services
14. a written order instructing the bank to pay someone from money on deposit
15. an amount owed

1. firms in the same industry or in related industries that group together in a region
2. compares total output to a specific measure of input; usually reflects an average, such as bushels of grain per acre of farmland
4. an increase in the economy's price level
7. the value of the capital stock that is used up or becomes obsolete in producing GDP during the year
8. the phase of economic activity during which the economy's total output increases
9. the narrow definition of the money supply; consists of currency (including coins) held by the nonbanking public, checkable deposits, ans traveler's checks
10. the structure of economic activity in a locality, a region, a country, a group of countries, or the world
12. a decline, or stagnation, of a nation's output accompanied by a rise, or inflation, in the price level
13. a broader definition of the money supply consisting of M1 plus savings deposits, and money market mutual fund accounts owned by households
16. government agencies charged with implementing legislation and financed through legislative bodies