Across
- 8. Which output gap is the ideal output gap?(1 words)
- 10. What is being affected by the presence of the demand-side shock?( 2 words)
- 11. What term describes the irregular changes in economic activity over time?(2 words)
- 13. Stock market may crash if the stock markets rise__?(2 words)
- 16. An economic ___ indicates how effectively an economy is expanding in terms of its size and productivity over a certain period of time. (2 words)
- 17. The trend rate of growth is assumed to be an approximation of the average of growth of? __(1 words)
- 18. What measures the productive capacity over time?(2 words)
- 19. What does the government do to close a negative output gap?(2 words)
- 21. What can a positive output gap cause?(1 word)
Down
- 1. Potential growth is measured by the change in ___(2 words)
- 2. What happened to the production factors when there’s a negative output gap? (1 words)
- 3. What is the main difficulty of measuring output gaps?(2 words)
- 4. What is an example of demand side-shocks?(2 words)
- 5. A positive output gap can only be achieved in the(2 words)
- 6. When there is a sharp rise in the value of a currency against other currencies, it reduces the competitiveness in the economy, leading to a fall in exports and imports, lowering the AD. This is an example of __ (2 words)
- 7. What term describes a rise in aggregate demand driven by external sales?(2 words)
- 9. What effect might a natural disaster have on economic production?(2 words)
- 12. Economists also refer to potential output as (2 words)
- 14. The difference between the actual level of real GDP and its estimated long-term value at a point in time is known as the __?(2 words)
- 15. All negative output shocks that could move the economy into a __output gap?(1 words)
- 20. A negative output gap means there is a __?(2 words)