Worried About Passing for You

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Last updated 7:02 AM on 8/12/26
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17 Terms

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Nominal GDP

(Current year prices x current year quantities)

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Unemployment Rate

(unemployed/labor force)x100

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Labor Force Participation Rate

(labor force/working age, noninstitutionalized population)x100

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Natural Rate of Unemployment

frictional+structural

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Real GDP

(Base year prices x current year quantities)

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CPI (Consumer Price Index)

(MBGY/MBBY)x100

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Inflation Rate

((Y2-Y1)/Y1)x100

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GDP Deflator

(Nominal GDP/Real GDP)x100 

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Aggregate Demand

C + I + G + (X - IM)

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Market Basket Given Year

(Current year prices x base year quantities)

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Marginal Propensity to Consume (MPC)

Change in consumption/change in disposable income

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Marginal Propensity to Save (MPS)

Change in savings/change in disposable income

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Spending Multiplier

 1/MPS or 1/(1-MPC)

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Tax Multiplier

-MPC/MPS

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Money Multiplier

1/rrr

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Quantity Theory of Money

M(V)=P(Y)

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GDP Expenditure Equation

C+I+G+(X-M)