AP Macro Semester 1 Review: Formulas
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10 Terms
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Labor participation rate
Employed + Seeking work
Working age, noninstitionalized population
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Unemployment rate
Unemployed
Labour force
3
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% Change in GDP
New GDP * 100
Old GDP
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Consumer Price Index
Cost in current year * 100
Cost in base year
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GDP Deflator
Nominal GDP * 100
Real GDP
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Expenditure Approach
C+I+G+Xn
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Income Approach
Wages + Rent + Interest + Profit
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MPS
1-MPC
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Spending Multiplier
1 1
MPS 1-MPC
10
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Tax Multiplier
Spending Multiplier - 1
Note 
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