Mcqs Flashcards
1
Q
How do you calculate real gdp
A
Real gdp = ngdp/price index x 10
2
Q
How do you calculate real gdp/capita
A
Real gdp per capita = (ngdp/price index x 100) / population
3
Q
How do you rock out index number
A
Index number = raw number/base year raw number x 100
4
Q
4 steps of weighted price index
A
- Convert prices into index form
- Multiply index number by their weight
- Add up the weighted points
- Divide by total number of weights
5
Q
How do you work out yield on gov bonds
A
Yield - coupon/market price x 100
If demand decrease - price of bond decrease - yield increase
6
Q
How to work out income tax paid
A
- Put income tax into bracket
2. Go backwards
7
Q
How to calculate MCl
A
MCl - dtcl/dql
8
Q
Where does loss occur
A
AR < ATC
9
Q
When does shutdown occur
A
AR < AVC
10
Q
Constant returns to scale
A
Constant returns to scale = % change in output = % change in input
