Midterm Equations Flashcards
1
Q
Nominal GDP
A
Quantity produced * Price (Price figure is on per-year basis)
2
Q
Real GDP
A
Quantity Produced * Price (Price is fixed on a given year)
3
Q
GDP Growth (%)
A
4
Q
Labour Force
A
5
Q
Unemployment rate
A
6
Q
GDP Deflator
A
7
Q
Rate of inflation
A
8
Q
Disposable Income
A
9
Q
Consumption
A
10
Q
Equilibrium Output
A
11
Q
Autonomous Spending
A
12
Q
Private Saving
A
13
Q
Public Saving
A
14
Q
IS relation
A
15
Q
Imports (related to exchange rates)
A
16
Q
Exports (related to exchange rate)
A
17
Q
Demand for domestic goods in an open economy
A
18
Q
Domestic demand for goods (domestic or foreign)
A
note that ‘r’ is interest rate
19
Q
Equilibrium condition for output (including X and IM)
A
note that ‘r’ is interest rate
20
Q
Demand for Money
A
21
Q
Interest rate on a bond
A
22
Q
Demand for money (with reserve ratio)
A
23
Q
Investment
A
24
Q
LM relation
A
