Across
- 2. A combination of recession and inflation is called _____.
- 4. The money _____ is the ratio of the change in the quantity of money to the change in monetary base.
- 9. The cross _____ of demand is a measure of the responsiveness of the demand for a good to a change in the price of a substitute or complement, other things remaining the same.
- 10. The _____ point is the output and price at which the firm just covers its total variable costs.
- 11. The unemployment that arises when changes in technology or international competition change the skills needed to perform jobs or change the locations of jobs is _____.
Down
- 1. A firm _____ costs when it forgoes an alternative action but does not make a payment.
- 3. A _____ is a good that can be used in place of another good.
- 5. A cost or benefit that arises from production and falls on someone other than the producer, or a cost or benefit that arises from consumption and falls on someone other than the consumer is called an ____.
- 6. When potential GDP exceeds real GDP, the output gap is also called a _____ gap.
- 7. A _____ matrix is a table that shows the _____ for every possible action by each player for every possible action by each other player.
- 8. The _____ wedge is the accumulated loss of output that results from a slowdown in the growth rate of real GDP per person.