AP Macroeconomics equations
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9 Terms
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GDP expenditure approach
C + I + G + (Ex. - Im.)
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GDP income approach
W + R + I + P
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GDP value added approach
(PQ1 ) + (PQ2 ) + (PQ3 ) ….
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GDP per capita
GDP / population
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Labor force participation rate (LFPR)
total LF / population of 16+ years of age x 100
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Unemployment rate
number of unemployed / labor force x 100
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CPI
given market basket value / market basket value from base year × 100
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Inflation rate
(current - previous) / previous x 100 (use GDP or CPI)
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GDP deflator
nominal GDP / Real GDP × 100
Note 
Flashcards (29)