Across
- 4. Factors of production being over utilized means that there is a positive output gap, having ___ in the economy.
- 7. There may also be risks of ___ if Aggregate Demand is falling too much. (1 word)
- 8. Positive output gap can only be achieved in? (1 word)
- 9. What do economists think about the concept of the output gaps that's difficult to measure for the purpose of economics? (2 words)
- 10. Trend rate of growth is the long-run average rate of growth of the ___ in an economy over time. (2 words)
- 11. The path of actual economic growth tends to ___ around the long-run real GDP growth path. (1 word)
- 13. The difference between the actual level of real GDP and its estimated long-term value at a point in time is called? (2 words)
- 16. What can increase maximum output? (2words)
- 17. When house prices rise too high and there is a sudden collapse in demand for housing, thus, the fall in house pricing will result in a decrease in ___. (2 words)
- 19. One of the examples of demand-side shock is that the central bank may raise interest rates to combat ___. (2 words)
- 20. When high stock market crash, what will it reduce? (2 words)
Down
- 1. The output gap is an economic measure of the difference between the actual output of an economy and its ___. (2 words)
- 2. In a positive output gap, the main problem are rising demand-pull and ___. (2 words)
- 3. What can demand sided shock do to the world economy? (1 word)
- 5. In a negative output gap, what happens if aggregate demand is falling too much? (2 words)
- 6. What economic factor can cause sudden demand changes? (2 words)
- 12. A negative output means there is ___ in the economy due to weak aggregate demand. (2 words)
- 14. A positive output gap means that the economy is operating beyond ___. (2 words)
- 15. What problem arises from estimating potential output? (1 word)
- 18. A sharp fall in oil and other commodity prices will ___ the SRAS curve. (1 word)