Economics Crossword

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Across
  1. 7. Fiscal policy that increases aggregate demand.
  2. 10. This shows the relationship between the aggregate price level and the quantity of aggregate output supplied that would exist if all prices, including nominal wages, were fully flexible.
  3. 12. Any asset that can easily be used to purchase goods and services
  4. 15. An economy in which decisions about production and consumption are made by individual producers and consumers.
  5. 16. The social science that studies the production, distribution, and consumption of goods and services.
  6. 17. The level of real GDP the economy would produce if all prices, including nominal wages, were fully flexible
  7. 20. When aggregate output is above potential output.
  8. 22. are rules set by the Federal Reserve that determine the minimum reserve ratio for banks
  9. 23. An event that shifts the short-run aggregate supply curve is a ___________
  10. 24. not enough of the resources are available to satisfy all the various ways a society wants to use them.
Down
  1. 1. A medium of exchange whose value derives entirely from its official status as a means of payment.
  2. 2. anything that offers rewards to people who change their behavior.
  3. 3. Nominal wages that are slow to fall even in the face of high unemployment and slow to rise even in the face of labor shortages.
  4. 4. Fiscal policy that reduces aggregate demand.
  5. 5. A phenomenon in which many of a bank’s depositors try to withdraw their funds due to fears of a bank failure.
  6. 6. A good used as a medium of exchange that has intrinsic value in other uses
  7. 8. Government spending and taxation rules that cause fiscal policy to be automatically expansionary when the economy contracts and automatically contractionary when the economy expands.
  8. 9. When aggregate output is below potential output.
  9. 11. Government debt held by individuals and institutions outside the government.
  10. 13. refers to the way in which the individual pursuit of self interest can lead to good results for society as a whole.
  11. 14. A medium of exchange with no intrinsic value whose ultimate value is guaranteed by a promise that it can be converted into valuable goods.
  12. 18. The combination of inflation and falling aggregate output.
  13. 19. An event that shifts the aggregate demand curve is a ______________.
  14. 21. The total value of financial assets in the economy that are considered money.