Macroeconomics

2. this refers to those persons that have become unemployed due to a downturn in the business cycle.
7. unemployment that occurs when workers skills do not match the jobs that are available.
9. total supply or output of goods and services in an economy.
10. increase in the total output of an economy. Occurs when a society acquires new resources or when it learns to produce more using existing resources.
11. two or more consecutive quarters of decline in GDP depression: a severe, continued downturn in the economy where sales and prices drop, manufacturing decreases, businesses close, banks fail, and people lose their jobs.
12. people looking for work, but who are without jobs.
14. falling prices.
16. measure of the value of economic output adjusted for inflation
17. unemployment that is expected to occur at certain parts of the year.

1. the movement of the economy from one condition to another and back again(shows ups and downs of the economy).
3. measure of change in price over time of a specific group of goods and services used by average household.
4. total demand for goods and services in an economy.
5. study of the economy as a whole (national, global).
6. a rise in the general level of prices.
8. the dollar amount of all final goods and services produced within a country's borders in a year.
13. a nation's exports minus the value of its imports; also called trade balance.
15. unemployment caused by people changing jobs