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Last updated 5:55 PM on 8/20/24
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9 Terms
1
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GDP (Y)
C+I+G+X_n
2
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Unemployment Rate (UR)
(unemployed/the labor force)*100
3
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Labor Force Participation Rate (LFPR)
(labor force/popul. age 16 and above)*100
4
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Natural Rate of Unemployment (NRU)
(fictional + structural)
5
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Inflation Rate (IR)
((price in y2-price in y1)/price in y1)*100
6
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Consumer Price Index (CPI)
(total cost of basket currently/(total cost of basket in base yr.)*100
7
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MPC (Marginal Propensity to Consume) and MPS (Marginal Propensity to Save)
MPC+MPS=1
8
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The Tax Multiplier
=-(MPC/MPS)
9
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The Spending Multiplier
=1/MPS
Note 
Flashcards (52)