Macroeconomics

4. An excess in total spending results in a rise in the general price level
5. A domino effect occurring when an increased nominal wage rate pass on in higher prices which push up the wage rates etc.
8. This occurs when people's skill sets do not match the required skills for existing jobs
13. Also known as money, anything from coins to paper money
14. The stock value of assets owned at a point in time
16. Also known as recovery; a rise in real GDP or business cycle
17. Definition of money which is the sum of currency, checkable deposits, and near monies
18. Economic variables that can predict changes in real GDP, but economists are cautious of
19. People without a job who cause the unemployment rate to be understated

1. All people 16 years or older with or searching for a job, excluding the armed forces, homemakers etc.
2. The twelve banks that serve other banks and financial institutions
3. The ability of money to measure the relative value of different goods and services
6. The economic growth and decay; measured by changes in real GDP
7. An exchange of one good for another rather than using money
9. This is when the actual amount of dollars received is adjusted for changes in the CPI
10. The chart of changes of the average prices of consumer goods and services
11. Any object that can act as a medium of exchange, unit of account, and store of value
12. The rate of interest without adjustment for the inflation rate
15. Lawful money although it is not redeemable or have intrinsic value
20. This happens when the average cost of goods and services decreases