formulas- all Flashcards
(27 cards)
real gdp
nominal gdp x (price index of base year/ price index of current year)
gdp per capita
real gdp/ population
rate of unemployment
(unemployment/ WAP or LF) x 100
real interest rate
nominal interest rate- inflationary rate
labour force (econ active)
employed + unemployed
employment rate
(employment/ WAP or LF) x 100
labour force participation rate
(econ active/ WAP or LF) x 100
ad
c + i + g + (x-m)
apc
consumer spending/ disposable income
aps
saving out of income/ income
mps
change in savings/ change in income
mpc
change in spending/ change in disposable income
mpt
change in tax/change in income
tax burden
total tax rev/ real gdp
disposable income
gross income- direct taxes
multiplier
1/ (mpt+mpm+mps)
current account
tig+tis+pi+si
trade balance
TIG+TIS
gini coefficient
section A/section A+B
terms of trade
Index of average export prices/ Index of average import prices X 100
consumer price index (2)
(price current year/ price base year) x 100
weights x price index
retail price index
(price of current year x weights/ price of base year x weights) x 100
money multiplier
1/Reserve Ratio
fisher equation
MV=PT
