Module Four Crossword Puzzle

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Across
  1. 2. The phase of the business cycle in which real GDP reaches its minimum after falling during a recession.
  2. 4. Money/ Money accepted by law and not because its redeemability or intrinsic.
  3. 7. Deposits/ The total of checking account balances in financial institutions convertible to currency "on demand" by writing a check without advance notice.
  4. 11. An extremely rapid rise in the general price level.
  5. 12. Personal Income/ The amount of income that households actually have to spend or save after payment of personal taxes.
  6. 14. Indicators/ Variables that change after the real GDP changes.
  7. 15. Price Index/ An index that measures changes in the average prices of consumer goods and services.
  8. 18. The practice of having work for a company performed by the company's employees located in another country.
  9. 19. Gap/ The difference between actual real GDP and potential or full-employment real GDP.
  10. 21. The value of the stock of assets owned at some point in time.
  11. 22. GDP/ The Value of all final goods produced during a given time period based on the prices existing in a selected base year.
Down
  1. 1. Flow Model/ A diagram showing the exchange of money and resources between households and businesses.
  2. 3. The phase of the business cycle in which real GDP reaches its maximum after rising during a recovery.
  3. 4. Goods/ Finished goods and services produced for the ultimate user.
  4. 5. GDP/ The value of all final goods based on the prices existing during the time period of production.
  5. 6. Income/ The total income received by households that is available for consumption, saving, and payment of personal taxes.
  6. 7. Money, including coins and paper money,
  7. 8. A decrease in the general (average) price level of goods and services in the economy.
  8. 9. Rate/ The percentage of people in the civilian labor force who are without jobs and are actively seeking jobs.
  9. 10. A reduction in the rate of inflation.
  10. 13. of Value/ The ability of money to hold value over time.
  11. 16. An Increase in the general (average) price level of goods and services in the economy.
  12. 17. Money/ Anything that serves as money while having market value in other uses.
  13. 20. The direct exchange of one good or service for another good or service for another good or service rather than for money.