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16 Cards in this Set

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nGDP=
(money)(velocity)= nGDP= (price)(real output)
currency spread
% spread= ((ask price- bid price)/ask price)*100
marginal propensity to consume (MPC)
additional consumption/additional income
marginal utility divided by price must be equal
Marginal utility of product X divided by the price of product X must equal marginal utility of product Y divided by the price of product Y
forward discount
forward discount= forward rate- spot rate= negative number
rGDP (current period)
nGDP<cp> * (GDP deflator<baseyear>/GDP deflator<cp>)

<>= time period not multiplier
price elasticity of demand
% change in quantity demanded/ % change of price
income elasticity of demand
% change in quantity demanded/% change in income
inflation rate (i)
(this year's price index- last year's price index)/last year's price index
income elasticity of demand
% change in quantity demanded/% change in income
unemployment rate
(# of unemployed)/(# in labor force)
expenditures multiplier (M)
1/ (1-MPC)

MPC= marginal propensity to consume
marginal revenue (MR)
marginal cost (MC)

MR=MC
forward premium
forward premium= forward rate- spot rate= positive number
rGDP
planned C + I + G + NX

C= consumer
I= investment
G= government
NX= net export
balance of payments
current account + capital account + official reserve account = 0