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Across 1. is the total dollar value of all goods and services produced within a nation in one year. 5. a decrease in the amount of available money and credit 6. changes in the level of total output measured in Real GNP 14. a measure of the total income earned by everyone in the economy. It equals NNP minus indirect business taxes a business must pay as a cost of doing business. 16. the GNP minus depreciation 18. measured in constant dollars, which are adjusted to offset the affects of inflation 19. phase in the business cycle in which Real GNP continues to rise

Down 1. the total dollar value of all goods and services produced in one year by a nation 2. measures the change in the average price of a representative sample of approximately 400 goods and services purchased by a typical wage earner 3. a severe decline in business, accompanied by increasing unemployment & falling pricing. 4. portion of the business cycle in which economic activity is at its highest point 7. – portion of business cycle in which economic activity is declining 8. – the total amount of income going to households before taxes are subtracted 9. economic set back in commercial and industrial activity 10. an index which measures the average change in prices of farm products, processed foods and feeds, and industrial commodities. 11. the combination of inflation and a stagnating economy marked by high unemployment 12. measure of efficiency, the way in which inputs are combined to produce outputs 13. a measure of the actual dollar value of goods and services produced 15. an increase in the volume of money 17. the lowest point in the business cycle