Macroeconomics Formula List

nominal GDP from sets of national income data, using the expenditure approach

C+I+G+(X-M)

nominal GNI from data

GNI = GDP - net income from abroad

real GDP

(nominal GDP/GDP deflator) x100

real GNI

(nominal GNI/GDP deflator) x100

Real GDP/GNI per capita

Real (GDP or GNI)/population

unemployment rate

(no. of unemployed people/labour force) x 100%

=(no. of unemployed people/no. of unemployed people + no. of employed people) x 100

rate of economic growth

(rGDP y2 - rGDP y1)/(rGDP y1) x100

inflation rate

percentage change in CPI (CPI difference/original CPI)x100

weighted price index (HL only)

Gini coefficient (measure of degree of income inequality)

A/(A+B)
A being area of inequality, B being the rest