Econ exam 2 formulas and examples Flashcards
1
Q
deltaY
A
Yyear2-Yyear1/Year1*100
2
Q
unemployment rate
A
Unemployed/labor force*100
3
Q
inflation rate
A
Pyear2-Pyear1/Pyear1 *100
4
Q
what formula is RGDP
A
delta Y
5
Q
aggregate demand
A
consumers+investors+governemt_ exp-imp)
6
Q
nominal GDP
A
Q1aP1a+Q1aQ1b
7
Q
RGDP
A
Q1aP1a+Q1aQ1b
P 1stays the same
8
Q
unemployment rate
A
unemployed/employed + unemployed *100
9
Q
labor fource particpation rate
A
labor fource/ adult population *100
10
Q
when does u rate increase
A
someone lost a job and starts looking for new one
11
Q
when does u rate decrease
A
discouraged worker
12
Q
when does u rate stay same
A
someone loses job and imidently starts looking for new one
13
Q
whats an unemployed person
A
someone looking for a job up to 4 wks
