en CR Chapters 11, 12, 13 & 18 20 Nationalincome: Total income earned by households who own and supply resources. It is calculated as GDP minus depreciation. Personalincome: Is the total income received by households and is calculated as NI minus corporate taxes and social security taxes plus plus transfer payments and other income. Disposablepersonalincome: Is personal income minus personal taxes. DI is is the amount of income a household has available to consume or save. RealGDP: Measures all final goods and services produced in a given time period, valued at the prices existing in a base year. NominalGDP: Measures all final goods and services produced in a given time period, valued at the prices existing during the time period of production. Circularflowmodel: Is a diagram representing the flow of products and resources between businesses and households in exchange for money payments. FrictionalUnemployment: Results when workers are seeking new jobs that exist. StructuralUnemployment: Long-term unemployment caused by factors in the economy. ClicalUnemployment: Results from insufficient aggregate demand. LeadingIndicators: are economic variables the change before changes in real GDP. CoincidentIndicators: are economic variables the change at the same time as changes in real GDP. LaggingIndicators: Are economic variables the change after changes in real GDP. Inflation: Is an increase in the general (average) price level of goods and services in the economy. Deflation: Is a decrease in the general level of prices. During the early years of the Great Depression, the was deflation, and the CPI declined at about a double-digit rate. Disinflation: Is a reduction in the inflation rate. Between 1980 and 1986, there was disinflation. this does not mean that prices were falling, only that the inflation rate fell. NominalIncome: Is income measured in actual money amounts. RealIncome: Is nominal income adjusted for inflation. RealInterestRate: is the nominal interest rate adjusted for inflation. if real interest rates are negative, lenders incur losses. Money: 1.) a medium of exchange. 2.) a unit of account. 3.) a store of value. CreditCards: Not money. Credit cards represent a short-term loan and therefore fail as a store of value. M1: Is the narrowest definition of the money supply, which equals currency plus checkable deposits. M2: Is a broader definition of the money supply, which equals M1 plus near monies, such as savings deposits and small time deposits. StoreofValue: is the ability of money to hold its value over time. Money is said to be highly liquid, which means it is readily usable in exchange. UnitofAccount: Is another important function of money. Money is used to measure relative values by serving as a common yardstick for valuing goods.

Chapters 11, 12, 13 & 18

	1	2
3															4	5
												6			T
		7			8
					I								9	10
					11										C

									12
									I		13

													C

															N

								14				P			15


											D

															16
							17				A

				18						C

													19
			20			I

Across:

3.	Is a decrease in the general level of prices. During the early years of the Great Depression, the was deflation, and the CPI declined at about a double-digit rate.
6.	Is an increase in the general (average) price level of goods and services in the economy.
7.	Not money. Credit cards represent a short-term loan and therefore fail as a store of value.
11.	is the ability of money to hold its value over time. Money is said to be highly liquid, which means it is readily usable in exchange.
14.	Measures all final goods and services produced in a given time period, valued at the prices existing in a base year.
15.	Is the narrowest definition of the money supply, which equals currency plus checkable deposits.

16.	Is a broader definition of the money supply, which equals M1 plus near monies, such as savings deposits and small time deposits.
17.	Is the total income received by households and is calculated as NI minus corporate taxes and social security taxes plus plus transfer payments and other income.
18.	Is another important function of money. Money is used to measure relative values by serving as a common yardstick for valuing goods.
19.	1.) a medium of exchange. 2.) a unit of account. 3.) a store of value.
20.	Measures all final goods and services produced in a given time period, valued at the prices existing during the time period of production.

Down:

1.	is the nominal interest rate adjusted for inflation. if real interest rates are negative, lenders incur losses.
2.	Results from insufficient aggregate demand.
4.	Long-term unemployment caused by factors in the economy.
5.	Is income measured in actual money amounts.
8.	Is personal income minus personal taxes. DI is is the amount of income a household has available to consume or save.

9.	Is nominal income adjusted for inflation.
10.	Results when workers are seeking new jobs that exist.
12.	Is a reduction in the inflation rate. Between 1980 and 1986, there was disinflation. this does not mean that prices were falling, only that the inflation rate fell.
13.	are economic variables the change before changes in real GDP.

Chapters 11, 12, 13 & 18

Across:

3.	Is a decrease in the general level of prices. During the early years of the Great Depression, the was deflation, and the CPI declined at about a double-digit rate.
6.	Is an increase in the general (average) price level of goods and services in the economy.
7.	Not money. Credit cards represent a short-term loan and therefore fail as a store of value.
11.	is the ability of money to hold its value over time. Money is said to be highly liquid, which means it is readily usable in exchange.
14.	Measures all final goods and services produced in a given time period, valued at the prices existing in a base year.
15.	Is the narrowest definition of the money supply, which equals currency plus checkable deposits.

16.	Is a broader definition of the money supply, which equals M1 plus near monies, such as savings deposits and small time deposits.
17.	Is the total income received by households and is calculated as NI minus corporate taxes and social security taxes plus plus transfer payments and other income.
18.	Is another important function of money. Money is used to measure relative values by serving as a common yardstick for valuing goods.
19.	1.) a medium of exchange. 2.) a unit of account. 3.) a store of value.
20.	Measures all final goods and services produced in a given time period, valued at the prices existing during the time period of production.

Down:

1.	is the nominal interest rate adjusted for inflation. if real interest rates are negative, lenders incur losses.
2.	Results from insufficient aggregate demand.
4.	Long-term unemployment caused by factors in the economy.
5.	Is income measured in actual money amounts.
8.	Is personal income minus personal taxes. DI is is the amount of income a household has available to consume or save.

9.	Is nominal income adjusted for inflation.
10.	Results when workers are seeking new jobs that exist.
12.	Is a reduction in the inflation rate. Between 1980 and 1986, there was disinflation. this does not mean that prices were falling, only that the inflation rate fell.
13.	are economic variables the change before changes in real GDP.