AP Econ Unit 2 Formulas

I formatted the formulas based on (roughly) how you'd input them into a regular graphing calculator X = multiply x = variable

% Change in GDP

% Change in GDP

[(Y2-Y1)/ Y1] X 100

GDP (Expenditures Approach)

C+I+G+(x-m)

Real GDP Per Capita

RGDP/Total population

Unemployment Rate

(Unemployed/in labor force) X 100

Nominal GDP

Price X Quantity

Real GDP

Base year price X Quantity

Real Interest Rate

Interest-Inflation

CPI (Consumer Price Index)

(Price of market basket/price of market basket in base year) X 100

Inflation Rate

[(CPI2-CPI1)/CPI1] X 100

GDP Deflator

(NGDP/RGDP) X 100

Nominal GDP (using GDP deflator)

(Deflator X RGDP)/100

Real GDP (using GDP deflator)

(NGDP/Deflator) X 100