Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
How do you calculate GDP using the Product Approach? |
GDP = sum of value added in each sector. |
|
|
How do you calculate GDP using the Expenditure Approach. |
GDP = C + I + G + NX |
|
|
How do you calculate GDP using the Income Approach? |
GDP = Sum of all income received by economic agents contributing to production. |
|
|
How do you calculate the Nominal GDP of Year 1? |
Back (Definition) |
|
|
How do you calculate Nominal GDP of Year 2? |
Back (Definition) |
|
|
How do you calculate the percentage increase in Nominal GDP from Year 1 to Year 2? |
|
|
|
How do you calculate Real GDP in Year 1 using Year 1 as the Base Year? |
|
|
|
How do you calculate Real GDP in Year 2 using Year 1 as the Base Year? |
Back (Definition) |
|
|
How do you calculate the percentage increase in Real GDP from Year 1 to Year 2, using Year 1 as the Base Year? |
Back (Definition)
|
|
|
How do you calculate Real GDP in Year 1 with Year 2 as the Base Year? |
Back (Definition) |
|
|
How do you calculate Real GDP in Year 2 given that Year 2 is the Base Year? |
Back (Definition) |
|
|
How do you calculate the percentage increase in Real GDP from Year 1 to Year 2 given that Year 2 is the Base Year? |
Back (Definition) |
|
|
How do you calculate GDP using the Chain Weighted Method? |
Back (Definition) |
|
|
What is the formula for the Implicit GDP price deflator? |
Back (Definition) |
|
|
What is the formula for Current Year CPI? |
|
