Inflation types

1234567
Across
  1. 3. A persistent decrease in average price levels in an economy over time
  2. 4. An increase in the cost of production causes a decrease in supply in the economy causing inflation and at the same time a decrease in real GDP and decrease in income, spending, jobs and the value of output
  3. 5. A decrease in AS causes not only an increase in price levels but also a decrease in real GDP and income, spending, value of output and jobs.
  4. 6. An increase in demand in the economy causes an increase in the AD curve and an increase in inflation. At the same time the real GDP will also increase as will income, jobs, value of output and spending.
  5. 7. A persistent increase in average price levels in an economy over time
Down
  1. 1. When there is a decrease in demand, there will be a decrease in price levels as firms try to attract customers to purchase goods. Real GDP will also decrease meaning less income, jobs, output and spending.
  2. 2. When there is an increase in supply, there will be a decrease in price levels as firms will be able to produce more efficiently. Real GDP will also increase meaning more income, jobs, output, spending