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18 terms

Macro Economics Formulas

STUDY
PLAY
Nominal GDP (Expenditure Approach)
C+I+G+Net X
Real GDP
Nominal GDP/GDP Deflator
% Change of Nominal GDP
(GDP later year - GDP earlier year/GDP earlier year) X 100
% Change of Real GDP
% Change of Nominal GDP - Rate of Inflation
CPI
(value of basket in current year/value of basket in base year) X 100
Inflation Rate
Change in CPI/Initial CPI
Nominal Interest Rate
real interest+inflation
Real Interest Rate
nominal interest rate-inflation
Wages in Earlier Year
Wages in current year X (CPI earlier/CPI current year)
Wages in Current Year
Wages in earlier year X (CPI current year/CPI earlier year)
GDP Deflator
Nominal GDP/Real GDP
Nominal GDP (Income Approach)
wages+rent+interest+profits
GNP (Gross National Product)
GDP+earnings of US Citizens abroad-earnings of foreigners in US
Labor Force
Employed+Unemployed
Labor Force Participation Rate
# in labor force/population over 16
Unemployment Rate
# unemployed/# in labor force
Employment Rate
(# employed/population over 16) X 100
Unemployment Rate
(# unemployed/population over 16) X 100