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Across 2. Stable price growth is when CPI<___% 4. The rate of interest charged by the Federal Reserve banks for lending reserves to private banks 6. Objectives of Macroeconomic policy: Output. Jobs, Growth, Prices, & ______ 10. The Fed buys bonds to ______ bank reserves, and sells them to ______ reserves 11. Damaging type of unemployment; when there are not enough jobs to go around due to downturns in the business cycle; due to reduced output 12. The minimum amount of reserves a bank is required to hold by government regulation 15. Bank _____ are only a fraction of total transaction deposits 17. Measure of changes in the average price of consumer goods and services 21. C+I+G+(X-IM)= ___ 22. Potential problem with macro equilibrium; the price-output relationship may not satisfy our macroeconomic goals 23. _______ _______ is a short run concept; a time when many production costs can be taken as fixed. 26. Total GDP / total population; GDP ___ _____ 28. Healthy type of unemployment; A brief period, associated with a job search 29. The lowest rate of unemployment compatible with price stability 30. Potential problem with macro equilibrium; even if the designated macro equilibrium is optimal, it is likely to be displaced by macro disturbances 31. The interest rate banks charge each other for lending overnight reserves 32. The Federal ______ is the total amount of money the government owes

Down 1. The study of aggregate economic behavior, of the economy as a whole 3. The price of apples compared to other fruit 5. Effects of inflation: price, income, wealth, & ________ 7. _____ = # of people unemployed / # of people in the labor force 8. A banks reserves in excess of required reserves 9. M1; Currency held by the public, plus balances in transactions accounts 13. Shows the rise and fall of the economy as a whole 14. The annual rate of increase in the average price level 16. _________ economics primary objectives are: shift AS, emphasis on production side, a return to Classical Theory & restating Say’s Law 18. The lowest rate of unemployment compatible with price stability 19. Increase in the average level of prices, not a change in one specific price 20. A bank account that permits direct payments to a third party; _______ account 24. The Federal _______ is the amount of money the government spends in borrowed money, a year 25. Banks & Borrowers create _____ 27. AS slope is relatively ____ when there are low levels of output as capacity is underutilized