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37 Cards in this Set
- Front
- Back
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GDP |
Y = C+I+G+NX |
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CPI |
(cost of base yr g/s at current prices)/ (cost of base yr g/s at base yr prices) |
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Rate of Inflation |
(CPI b - CPI a)/ (CPI a) |
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Gov. Budget |
Taxes - (Transfers + G + Interest) |
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Real Wage |
Nominal/CPI |
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Real Income |
Nominal/CPI |
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Real Intersest |
Nominal - Interest |
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%change in wage |
(b-a)/a x 100 |
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Nominal Interest |
real + expected inflation |
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Employment progression |
(current unemployment - prerecession unemployment)/prerecession unemployment |
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Unemployment |
Unemployed/Labor Force |
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participation rate |
labor force/population 16+ |
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Net revenue |
revenue - production costs |
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antr |
net revenue - taxes |
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taxes for net revenue |
net revenue(tax rate) |
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saving |
Y - spending |
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saving rate |
saving/income |
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wealth |
assests - liabilities |
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flow |
2nd wealth - 1st wealth |
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change in stock of wealth |
savings + capital gains - capital losses |
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private saving |
Y - T - C |
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public saving |
T - G |
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national saving |
public + private |
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5 terms in GDP |
-market value -final g/s -produced -domestic production -time period |
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kinds of consumers |
-households -firms -government -foreign sector |
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define inflation |
change in average prices |
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define CPI |
rate of change of the rate of inflation |
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negatives of deflation |
-houses spend less -houses borrow less -layed off workers |
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define indexing |
adjusting for inflation |
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last jobless recovery |
2007 |
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marginal product |
gained after financial costs subtracted from financial benefit |
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capital gains |
increase in value of assestset |
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capital losses |
decrease in value of assets |
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net taxes |
Total taxes - transfer payments - government interest payments |
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total market production = |
spending on final g/s |
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components of expenditures |
-consumption -investment -government spending -net exports |
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gov. expenditures are on |
final g/s |
