formulas- all Flashcards by Amira L

Q

real gdp

A

nominal gdp x (price index of base year/ price index of current year)

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Q

gdp per capita

A

real gdp/ population

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Q

rate of unemployment

A

(unemployment/ WAP or LF) x 100

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Q

real interest rate

A

nominal interest rate- inflationary rate

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Q

labour force (econ active)

A

employed + unemployed

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Q

employment rate

A

(employment/ WAP or LF) x 100

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Q

labour force participation rate

A

(econ active/ WAP or LF) x 100

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Q

ad

A

c + i + g + (x-m)

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Q

apc

A

consumer spending/ disposable income

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Q

aps

A

saving out of income/ income

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Q

mps

A

change in savings/ change in income

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Q

mpc

A

change in spending/ change in disposable income

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Q

mpt

A

change in tax/change in income

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Q

tax burden

A

total tax rev/ real gdp

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Q

disposable income

A

gross income- direct taxes

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Q

multiplier

A

1/ (mpt+mpm+mps)

Q

current account

A

tig+tis+pi+si

Q

trade balance

A

TIG+TIS

Q

gini coefficient

A

section A/section A+B