macroeconomics formula sheet – Flashcards
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labor force participation rate
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(# of people in labor force/adult population) x 100
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unemployment
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(# of unemployed/labor force) x 100
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consumer price index
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(price of goods that year/price of goods in the base year) x 100
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inflation rate
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(year 2CPI - Year 1CPI/ year1CPI) x 100
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real income
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(nominal income/CPI) x 100
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% change in real income
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(percentage change in nominal income) -(the inflation rate)
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gross investment
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net investment + depreciation
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net exports (Xn)
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exports - imports
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annual % change in anything
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(year 2 value - year 1 value/year 1 value) x 100
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GDP price index
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(price of goods that year/price of goods in the base year) x 100
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GDP deflator
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(nominal GDP/real GDP) x 100
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Real GDP
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(nominal GDP/GDP price index) x 100
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Annual % Change in Real GDP
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(year 2 real gdp - year 1 real gdp/year 1 real gdp) x 100
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Real GDP per capita
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real GDP that year/ population that year
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Annual % change in real GDP per capita
answer
(year 2 real GDP per capita - year 1 real gdp per capita/year 1 real aGDP per capita) x 100
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doubling time formula
answer
70/annual percentage change in whatever you are looking at
