Macro Unit 3.1_3 CW: Vocabulary (Matching)

the total amount of goods and services  produced in the economy available at all possible price levels

the total amount of goods and services  demanded in the economy available at all possible price levels

the loss of the value of capital equipment that results from normal wear and tear

the dollar value of all final goods and services produced within a country's borders in a given year

key economic variables that economists use to predict a new phase of a business cycle

a system that collects macroeconomic statistics on production, income, investment, and savings

a prolonged economic contraction

a decline in GDP combined with a rise in the price level

an increase in efficiency gained by producing more output without using more inputs

the lowest point in an economic contraction, when real GDP stops falling