GDP & Business Cycles

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Across
  1. 2. The idea that there is not enough resources to go around.
  2. 7. Moment when GDP reaches its lowest before a period of expansion.
  3. 11. When you are talking about dividing something by the total population.
  4. 12. Period of time that happens once an economic recovery has been completed.
  5. 14. Can be something that helps stimulate economic growth.
  6. 15. The point at which quantity demanded equals quantity supplied.
  7. 17. Period of time when GDP is increasing
  8. 18. Moment when GDP reaches its height before a period of contraction
  9. 19. The total amount of goods supplied and demanded in a given country.
  10. 21. Land Labor Capital and Entrepreneurship.
  11. 22. Indicators that happen at the same time as a change in GDP.
  12. 23. We study economics to help us become this.
  13. 24. Period after a trough that lasts until the previous cycles peak.
  14. 25. A long term recession that is coupled with very high unemployment.
  15. 26. The total dollar value of all final good and services produced within a nations borders within a given year.
  16. 27. Place where they thought high population plus high taxes would lead to economic growth.
Down
  1. 1. Indicators that happen before a change in the business cycle
  2. 3. Period of time when GDP is decreasing
  3. 4. Indicators that happen after a change in GDP has occurred.
  4. 5. The ratio between output to input.
  5. 6. GDP is NOT a measure of this, however real GDP per capita can be an indicator.
  6. 8. The idea that economic growth happens when your exports are greater than your imports.
  7. 9. Can be something that helps stimulate economic growth.
  8. 10. The highest valued thing given up when choosing between two tradeoffs.
  9. 13. Two consecutive quarters of declining GDP
  10. 16. These things are NOT included in GDP
  11. 20. The way a society uses its scarce resources to satisfy its peoples needs and wants.