Economics

3. A good where an increase in income leads to a decrease in demand
7. The difference between the minimum price accepted by the producer for a good and the actual price of the good
8. Consumers' expenditure on goods and services. Component of AD
9. GDP measured taking inflation into account
10. Government expenditure exceeds total tax revenue
11. The cost of borrowing money.
13. The amount producers are willing and able to sell at a given price over a given period of time
14. A payment made to firms or consumers to encourage an increase in output

1. The difference between the actual level of national output and its potential level.
2. Negative growth in Real GDP for two or more fiscal quarters.
4. Few barriers to international trade between countries without the intervention of import tariffs, quotas, and other forms of import controls.
5. The next best opportunity forgone
6. Goods that deliver consumption services over an extended period of time.
12. Goods/services sold abroad.
15. The amount that consumers are willing and able to buy at a given price over a given period of time