Formulas chap 4-5-6 Flashcards
The formulas provided within chapters four, five and six.
1
Q
NDP=?
A
NDP=W+π+i+R+O+tf
2
Q
GDPy=?
A
GDPy=W+π+i+R+O+tf+tp+D
3
Q
GDPe=?
A
GDPe=C+Ig+G+(X-M)
4
Q
GDPy=?
A
GDPy=GDPe
5
Q
D=?
A
D=Ig-In
6
Q
Personal Income=?
A
Personal Income=Total income of individual from all sources before taxes are paid
7
Q
Disposable Income=?
A
Disposable Income=Consumption+Saving
8
Q
Real GDP=?
A
RGDP=(GDP/P)x100
9
Q
P=Price Index=GDP deflator=?
A
P=(NGDP/RGDP)x100
10
Q
NGDP=?
A
NGDP=(Pa x Qa)+(Pa x Qa)+(Pa x Qa)
11
Q
RGDP=?
A
RGDP= (Pa x Qb)+(Pa x Qb)+(Pa x Qb)
12
Q
RGDP/Capita=?
A
RGDP/capita=RGDP/Population
13
Q
BMEW (Better measure of economic well-being)=?
A
BMEW=GDP+Non marketed goods and services+ Under the table transactions-Environmental change
14
Q
LF=?
A
LF= Un+Em
15
Q
UR=?
A
UR= (UN/LF)x100
