Across
- 2. the study of factors that contribute to the economic growth of a country
- 4. a persistent decline in prices resulting from economic growth in the presence of stable aggregate demand.
- 6. the real domestic output divided by the number of workers
- 11. the various resources in an economy including both physical resources and such human resources as ingenuity and management skills
- 13. a goverment protection that gives an investor the exclusive right to make use or sell and invention for a period of 20 years
- 15. the total of all planned expenditures in the entire economy
- 16. the value of a current sum expressed in terms of prices in a base year
Down
- 1. transforming an invention into something that is useful to humans
- 3. a vertical line representing the real output of goods and services after full adjustment has occurred
- 5. increases in per capita real GDP measured by its rate of change per year.
- 7. the total of all planned production for the economy
- 8. the change in expenditures resulting from a change in the real value of money balances when the price level changes
- 9. a curve showing planned purchase rates for all final goods and services in the economy at various price levels all other things held constant
- 10. one of the reasons that the aggregate demand curve slopes downward. A higher price level induces foreign residents to buy fewer us made goods and us residents to buy more foreign made goods, thereby reducing net exports and decreasing the amount of real goods and services purchased in the United States.
- 12. a theory of economic growth that examines the factors that determine why technology research, innovation, and the like are undertaken and how they interact
- 14. one of the reasons that the aggregate demand curve slopes downward. Higher price levels increase the interest rate, which in turn causes businesses and consumers to reduce desired spending due to the higher cost of borrowing