Economics

3. A steady rise in prices over time
9. The total production of all citizens of one country regardless of their location in the
11. The study of the economic decisions made by individuals, firms, and markets
12. Physical human energy used in production
14. An item used to produce a product or a service
16. Items that are not necessary for basic human survival
17. The study of the national economy
18. Inputs endowed by nature

1. A situation in which resources are lacking
2. Money that exists because the government says that is has value is called
4. When calculating GDP, the purchase of factories, equipment, and houses is included in
5. The total production of goods and services that occurs within the legal borders of a
6. Net exports are calculated as _________________________ minus
7. Inflation is most likely to benefit _________________________ and
8. Inputs created by humans
10. A measure of those individuals seeking jobs but not working
13. A decline in GDP for two or more quarters
15. Items necessary for basic human survival