Business Cycle - Crossword

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Across
  1. 3. includes all income earned: wages, profits, rent, and profit income
  2. 5. includes what is produced domestically and what is produced by domestic labor and business abroad in a year
  3. 8. the process by which capital ages over time and therefore loses its value
  4. 10. a potential mistake to avoid in measuring GDP in which output is counted more than once as it travels through the stages of production
  5. 15. all elements that affect people’s happiness, whether people buy or sell these elements in the market or not
  6. 17. gdpdivided by the population
  7. 18. exists when a nation's exports exceed its imports and it calculates them as exports – imports
  8. 19. a significant decline in national output
  9. 20. output used directly for consumption, investment, government, and trade purposes; contrast with “intermediate good”
  10. 23. that has been produced, but not yet been sold
  11. 24. building used as residence, factory, office building, retail store, or for other purposes
  12. 26. the economic statistic actually announced at that time, not adjusted for inflation; contrast with real value
Down
  1. 1. the value of the output of all final goods and services produced within a country in a year
  2. 2. product which is intangible (in contrast to goods) such as entertainment, healthcare, or education
  3. 4. output provided to other businesses at an intermediate stage of production, not for final users; contrast with “final good and service”
  4. 6. short-lived good like food and clothing
  5. 7. an especially lengthy and deep decline in output
  6. 9. an economic statistic after it has been adjusted for inflation; contrast with nominal value
  7. 11. the economy's relatively short-term movement in and out of recession
  8. 12. the price of one currency in terms of another currency
  9. 13. during the business cycle the highest point of output before a recession begins
  10. 14. gap between exports and imports
  11. 16. long-lasting good like a car or a refrigerator
  12. 21. gdp minus depreciation
  13. 22. during the business cycle, the lowest point of output in a recession, before a recovery begins
  14. 25. exists when a nation's imports exceed its exports and it calculates them as imports –exports