2nd Year Macroeconomics Chapter 2

Total GDP Product Approach

Σ(Total Value Final Goods - Total Value Intermediate Goods)

Total GDP Expenditure Approach

C + I + G + NX

Total GDP Income Approach

WI + ATP + II + Tpa

CPI

(Base Year Quantities @ New $) / (Base Year Quantities @ Base $)

Implicit Price Deflator

(Nominal GDP / Real GDP) * 100

Nominal Interest Rate

Real Interest Rate + Inflation

Private Disposable Income (Yd)

Y + NFP + INT - T + TR

Private Sector Saving (S^P) [1]

Y^d - C

Private Sector Saving (S^P) [2]

Y + NFP + TR + INT - T - C

Government Saving (-Government Deficit) (S^g)

T - TR - INT - G

National Saving (S) [1]

S^p + S^g

National Saving (S) [2]

Y + NFP - C - G

National Saving (S) [3]

I + NX + NFP

National Saving (S) [4]

I + CA

Unemployment Rate

# Unemployed / Labour Force

Participation Rate

Labour Force / Working Age Population

Employment Population Ratio

Employment / Working Age Population

Labour Force Equation

Employed + Unemployed