Economics: macro

4. unemployment caused by a business cycle recession
5. Reserve The central monetary authority of the US
9. The study of the economy as a whole
12. demand the total demand for goods and services in the economy
14. people who are temporarily between jobs (including those new to the work force)
15. A period in which real GDP, income, and employment rise

1. policy Use of government spending and revenue collection measures to influence the economy
2. an extended decline in business activity
3. unemployment when people lose their jobs predictably every year at the same time
6. unemployment resulting from a poor match of workers' abilities and skills with current requirements of employers
7. supply The total quantity of output producers are willing and able to supply at alternative price levels in a given time period.
8. a sharp reduction in an economy's total output accompanied by high unemployment lasting more than a year
10. policy policies that control the supply of money, the price of money and the availability of credit.
11. Rise in the general level of prices
13. requirement a percentage of commercial banks' checking and savings accounts that must be physically kept in the bank