AP Macroeconomics

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Last updated 7:14 PM on 8/9/26
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16 Terms

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Nominal GDP

c + i + g + (x - m)

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unemployment rate

(unemployed/labor force)*100

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labor force participation rate

(labor force/working age, noninstitutionalized population)*100

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natural rate of unemployment

frictional unemployment + structural unemployment

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CPI

(MBGY/MBBY)*100

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inflation rate

((Y2-Y1)/Y1)*100

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GDP deflator

(nominal GDP/real GDP)*100

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aggregate demand

c + i + g + (x - m)

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market basket given year

current year prices * base year quantities

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(Real) GDP

base year prices * current year quantities

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marginal propensity to consume

change in consumption / change in disposable income

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marginal propensity to save

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)