Business Cycle Crossword

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Across
  1. 3. this officially occurs when real GDP falls for six consecutive months or two consecutive business quarters, often substituted for contraction
  2. 5. this is the label given to the x-axis of the business cycle
  3. 7. another term used to describe the boom phase
  4. 9. a phase of the business cycle characterized by declining real GDP, weak national demand, deflation, rising unemployment, and consumer and producer pessimism
  5. 11. the number of phases making up a complete cycle
  6. 12. describes the point at which real GDP reaches its maximum, before turning down again
  7. 13. the point at which real GDP reaches its minimum, before turning up again
  8. 14. describes the general shape of the ups and downs of the business cycle
  9. 15. GDP this is the label given to the y-axis of the business cycle
Down
  1. 1. a phase of the business cycle characterized by very strong national demand, inflation rates above the target level, production beyond normal capacity, and conspicuous consumption
  2. 2. this term is often given to describe a more severe, long-lasting recession
  3. 4. policy can be used by the government in an attempt to smoothen out the unpredictable swings in the business cycle
  4. 6. a phase of the business cycle characterized by rising real GDP, strong national demand, inflation, falling unemployment, and consumer and producer optimism
  5. 8. policy can be used by the nation's central bank to smoothen out the unpredictable swings in the business cycle
  6. 10. this term can be used in place of expansion