Unit 6 Vocab

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Across
  1. 5. an increase in the average price of all goods
  2. 7. (GDP) the total dollar value of the final goods and services produced in a country each year
  3. 8. a type of unemployment that occurs when people are between jobs or are looking for their first jobs
  4. 10. a decrease in the average price of all goods and services
  5. 13. the kind of inflation caused by the rising cost of resources such as labor or oil
  6. 15. programs that provide income, housing, and health insurance to the individuals and families who cannot work
  7. 17. programs meant to prevent poverty, typically worker pay into these programs while they are employed
  8. 21. a long lasting and severe recession
  9. 22. alternating time periods of expanding and contracting economic activity
  10. 23. a regular payment to a retired person by his or her former employer
  11. 24. the minimum yearly income that a family must have in order to meet its basic needs
Down
  1. 1. incomes that do not change
  2. 2. a type of unemployment that occurs when people are out of work because of a downturn in the business cycle
  3. 3. a type of unemployment that occurs when people are out of work because they lack the skills or education necessary for available jobs
  4. 4. the kind of inflation caused when consumer spending is greater than the amount of goods and services available
  5. 6. a raise in income to keep wages even with inflation
  6. 9. a time period when GDP is increasing
  7. 11. the lowest point in the business cycle
  8. 12. the highest point in the business cycle
  9. 14. a type of unemployment that occurs when people are out of work for a part of the year because of the seasonal nature of their jobs
  10. 16. the percentage of people in the labor force who are looking for work but have not found jobs
  11. 18. a time period when the GDP is decreasing
  12. 19. statistic used to measure inflation
  13. 20. a time period in which the GDP decreases