Formulas

Question 1

GDP Formula

Answer 1

GDP = C + I + G + (x-m)

Question 2

GNP Formula (Similar to GDP)

Answer 2

GDP = C + I + G + (x-m) + Net Income

Question 3

NNP Formula

Answer 3

GDP - Depreciation

Question 4

GNI Formula

Answer 4

GNI = GDP + NI - NE
NI = Net income
NE = Net earning

Question 5

GDP per capita

Answer 5

GDP / Population

Question 6

Unemployment rate

Answer 6

Unemployment rate = (unemployed / labor force) x 100

Question 7

Find Labor Force

Answer 7

Employed + unemployed

Question 8

Not in the labor force

Answer 8

All working population (16 years and older) / Unemployment + Employment (Total Labor Force)

Question 9

Labor force participation Rate

Answer 9

Participation Rate = (unemployment + employment / unemployment + employment + not in the labor force)

Question 10

CPI Formula

Answer 10

CPI = (Cost of current basket of current year / cost of basket of base year) x 100

Question 11

GDP Deflator Formula

Answer 11

GDP deflator = Nominal GDP / Real GDP

Question 12

Inflation rate formula GDP Deflator Formula.

Answer 12

Inflation rate = [(Deflator of current year / Deflator of base year) -1] x 100

Question 13

Price change formula Inflation Rate.

Answer 13

Inflation Rate = [(current price – base price) / by base price] x 100