Quiz Economics Group D

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Across
  1. 1. and ___
  2. 4. rise What's the outcome of increased trade union activity?
  3. 5. Rate Rate In one year, the actual economic growth rate is likely to be above or below the___ ___
  4. 8. When sharp falls in grain commodities, what happens to SRAS?
  5. 10. A stock market crash reduces the wealth of individual who like to reduce their ____
  6. 12. When the actual GDP growth falls below the trend rate of growth, there is a ____output gap.
  7. 13. What does a negative output gap suggest about resources?
  8. 14. What happens to the inflation of a country if there is a negative output gap?
  9. 15. prices What triggers a housing market bubble burst?
  10. 16. Taxes to address rising inflation or balance it budget the government may start to ?
  11. 17. How does a negative output gap affect unemployment?
  12. 19. An increase in trade union activity could see large wage increases that will raise the price level substantially. What happened to aggregate supply?
Down
  1. 2. What is the output gap's significance?
  2. 3. How is the output gap addressed?
  3. 6. Gap The difference between the actual level of GDP and its estimated long-term value at a point in time is known as the___ ___
  4. 7. What output gap occurs if actual output is less than what an economy could produce at full capacity?
  5. 9. What do we call, if the positive output gap increases the cost?
  6. 11. what is the time period in trend of growth?
  7. 18. Either positive or negative output gap, if some factors of production in the economy are underutilized?
  8. 19. If the positive output gap persists, what happens to cost in the economy?