Chapter 13 Review Round 3

A

1

statistics that point to what will happen in the economy

leading indicators

2

total quantity of goods and services in the entire economy that all citizens will demand at any single time

aggregate demand

3

real domestic output of producers based on the rise and fall of the price level

aggregate supply

B

1

total income that individuals receive before personal taxes have been paid

personal income

2

measurement of the national economy's performance

national income accounting

C

1

indicators that seem to change after changes in overall business activity

lagging indicators

2

indicators that usually change at the same time as changes in overall business activity

coincident indicators

D

1

major slowdown of economic activity

depression

2

part of the business cycle in which economic activity increases

expansion

E

1

irregular changes in the level of total output measured by real GDP

business cycle, business fluctuations

2

inventions and new production techniques

innovations