macro formulas

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Last updated 2:50 AM on 10/9/26
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11 Terms

1
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GDP = C + I + G + (X-M)

gdp expenditure approach

2
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total national income + sales taxes + depreciation + net foreign factor income

income approach

3
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add up the dollar value added at each stage

value added approach

4
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(year 2 - year 1)/year 1 x 100

% change in gdp

5
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labor force/population x 100

labor force participation rate

6
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# of unemployed / labor force x 100

unemployment rate

7
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value of market basket in given year/value of market basket in base year x 100

CPI

8
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new cpi - old cpi/old cpi x 100

inflation rate

9
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nominal gdp/real gdp x 100

gdp deflator

10
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nominal gdp

deflator x real gdp/100

11
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real gdp

nominal gdp/price index x 100