Studied by 3 peopleI formatted the formulas based on (roughly) how you'd input them into a regular graphing calculator X = multiply x = variable
% 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
Note
Flashcard