AP Econ Unit 2 Formulas

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

Macroeconomics

AP Macroeconomics

Unit 2: Economic Indicators and the Business Cycle

12 Terms

1
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% Change in GDP

[(Y2-Y1)/ Y1] X 100

2
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GDP (Expenditures Approach)

C+I+G+(x-m)

3
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Real GDP Per Capita

RGDP/Total population

4
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Unemployment Rate

(Unemployed/in labor force) X 100

5
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Nominal GDP

Price X Quantity

6
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Real GDP

Base year price X Quantity

7
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Real Interest Rate

Interest-Inflation

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CPI (Consumer Price Index)

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

9
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Inflation Rate

[(CPI2-CPI1)/CPI1] X 100

10
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GDP Deflator

(NGDP/RGDP) X 100

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Nominal GDP (using GDP deflator)

(Deflator X RGDP)/100

12
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Real GDP (using GDP deflator)

(NGDP/Deflator) X 100