AP Macro Econ Unit 2 Equations
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Last updated 1:09 AM on 1/14/25
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11 Terms
1
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% Change in GDP (inflation rate)
(year 2 - year 1) ÷ year 1
2
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Gross Domestic Product
C + I + G + Xn
3
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Real GDP
current year production × base year price
4
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real GDp per capital
real GDP ÷ total population
5
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consumer surplus
buyer's maximum - price
6
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producer surplus
price - seller's minimum
7
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unemployment rate
(# unemployed ÷ # in labor force) × 100
8
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Natural Rate of Unempoyment
structural + frictional
9
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Consumer Price Index
(Price of Market Basket ÷ Price of Market Basket in base year) × 100
10
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GDP Deflator
(Nominal GDP ÷ Real GDP) × 100
11
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M × V
P × Y
