Unit 3 SLO 3.1 Vocabulary

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Across
  1. 3. goods and services bought by consumers for their direct use
  2. 6. business purchase of tools, machines, buildings, and so on, used to produce other goods. Includes money spent on business inventories
  3. 9. total dollar value of all final goods and services produced in a nation in a single year
  4. 11. percentage of the civilian labor force that is unemployed but is actively looking for work
  5. 12. the difference between what a nation sells to other countries (exports) and what it buys from other countries (imports)
  6. 13. Unemployment caused by changes in the economy such as technological advances or discoveries of natural resources
  7. 14. the goods and services bought by the federal, state, and local governments from anything to paper clips to airplanes.
Down
  1. 1. Temporary unemployment between jobs because of firings, layoffs, voluntary searches for new jobs or retraining
  2. 2. prolonged rise in the general price level of goods and services
  3. 4. measure of the change in price over time (usually a month) of a specific group of goods and services used by the average household
  4. 5. Period of prosperity in a business cycle in which economic activity is at its highest point
  5. 7. part of the business cycle in which the downward spiral of the economy levels off
  6. 8. part of the business cycle in which economic activity slowly increases
  7. 10. part of the business cycle during which economic activity is slowing down
  8. 15. Unemployment caused by changes in the seasons or weather
  9. 16. Unemployment associated with up or down fluctuations in the business cycle