ECON 112 Formulas

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16 Terms

1
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GDP

Y = C + I + G + NX

2
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GDP Deflator

(Nominal GDP / Real GDP) x 100

3
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CPI

(Basket of current year / Basket of base year) x 100

4
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Inflation rate

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

5
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Compounding rate

A (1 + r)^t

6
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$ today

$ year t x (CPI today / CPI year t)

7
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Real interest rate

Nominal rate - inflation rate

8
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EV

PA x A

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Variance

(A - EV)² x PA

10
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Standard deviation

Square root of variance

11
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MPL

Change in Q / Change in L

12
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VMPL

MPL x P

13
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U-rate

(# unemployed / Labour force) x 100

14
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LFPR

(Labour force / Adult population) x 100

15
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Private saving

Y - T - C

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Public saving

T - G