Social Formulas Flashcards
1
Q
What is the Labor Force formula?
A
Labor Force = Employed + Unemployed
LF = E + U
2
Q
What is the Labor Force Participation Rate formula?
A
Labor Force/Working Age Population
LFPR = LF/WAP
3
Q
What is the Unemployment Rate formula?
A
Unemployment Rate = Employed/Labor Rate
UR = E/LR
4
Q
GDP Income Approach Formula
A
GDP= (W + R + I + P) + (IBT + D)
5
Q
GDP Expenditure Approach Formula
A
GDP = Y= C + Inv + Gov + NX= AE
6
Q
GNI (Gross National Income) Formula
A
GNI = GDP + Net Foreign Factor Income
