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IB Economics SL new syllabus > Unit 8.3 > Flashcards

Unit 8.3 Flashcards

1
Q

How to calculate nominal GDP (formula)

A

C+I+G+(X-M)

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2
Q

How to calculate GNI

A

GDP+ (Income from abroad-income sent abroad)

Or

GDP+Net income from abroad

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3
Q

How to calculate GDP deflator

A

nominal gdp/real gdp x100

(answer should be around one hundred)

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4
Q

How to calculate real GDP (equation)

A

nominal/gdp deflator x100

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IB Economics SL new syllabus (34 decks)

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