1		______ refers to a situation where price lists have to be changed due to inflation. (9)
3		The practice of having one's pension automatically increase in step with inflation is called pension ______. (8)
5		Unemployment caused by technological change is classed as ______ unemployment. (10)
8		Individuals whose nominal income stays constant over time are referred to as a ______ income group. (5)
10		Unemployment caused by a decline in GDP is called ______ unemployment. (8)
11		When the inflation rate declines, interest rates will tend to ______. (7)
12		The price index that gauges the increase in prices of all goods and services in the GDP. (3,5,8)
19		The quantity of something that is measured at a point in time is called a ______ variable. (5)
20		______ law is used to estimate the total dollar cost of unemployment. (5)
22		In theory, during the trough phase of the cycle, the unemployment rate will tend to be at its _____ rate. (7)
23		The ______ year is the year that is chosen as the point of reference for comparison of prices in other years. (4)
24		The ______ rate of unemployment is another term for full employment. (7)
27		______ refers to a situation where the rate of increase in the average price level accelerates out of control. (14)
32		The _____ phase of the business cycle occurs when overall economic activity is rising. (9)
33		When individuals collecting welfare falsely report that they are actively seeking work, this tends to ______the true amount of unemployment. (12)
34		The inflation rate that the majority of individuals believe will occur is called ______. (11)
35		The unemployment rate equals the monthly unemployment divided by the _______. (6,5)
36		The situation in which the average price level is falling. (9)
37		The ______ price index is a weighted average of prices purchased by a typical urban household. (8)

2		The _____ phase of the business cycle is when overall economic activity is at its maximum. (4)
4		When the overall price level increases each year, this is called ______. (9)
6		Including part-time workers in the "employed" category implies that the unemployment rate measure ______the true degree of unemployment. (14)
7		The ______ rate equals the labour force divided by the labour force population. (13)
9		A common term used to describe a severe economic decline. (10)
13		A ______clause in wage contracts allows wage rates to automatically increase due to inflation. (4)
14		A quantity measured over a period of time is called a ______ variable. (4)
15		Economic ______ refers to the two problems of unemployment and inflation. (11)
16		The _____ phase of the business cycle occurs when economic activity is at its lowest level. (6)
17		During the great depression, ______ was the primary macroeconomic problem. (12)
18		Unemployment that reappears at the same time each year is called ______ unemployment. (8)
21		______ workers are individuals who want to work, but have given up looking for a job. (11)
25		The "Rule of 70" allows one to estimate the time it takes for prices to _____ based on the rate of inflation. (6)
26		This component of expenditure varies the most over the business cycle. (10)
28		The nominal rate of interest adjusted for inflation is called the ______ rate of interest. (4)
29		Skilled workers temporarily "in between jobs" would be classed as ______ unemployment. (10)
30		The _____ phase of the business cycle occurs when overall economic activity is declining. (9)
31		In theory, during the trough phase of the cycle, interest rates will tend to be at their _____ rate. (7)
33		The ______ gap refers to the difference between the current GDP level and the full employment GDP level. (6)