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33 Cards in this Set
- Front
- Back
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Unemployment Rate
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# unemployed/ #in labor force
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Okun's Rule of Thumb
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+%1 change in unemployment --> -2% change in output
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Price Index
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Current Price/Base Price (100)
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% change in price index
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(Price Index(2) - Price Index (1))/
Price Index (1) (100) |
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% change in real output
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% change in nominal output - Inflation
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Real Interest Rate
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Nominal Interest - Inflation (or Expected Inflation Rate)
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Value Added
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Value of Sales - $ of Intermediate Goods
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NDP
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GDP - Depreciation
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GDP
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C + I + G + (X-M)
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GNP
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GDP + Net Foreign Factor Income
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Per Capita GDP
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GDP/tot. pop.
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Total Output
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Total Income
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Profits
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Total Output - Payments
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Real GDP
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Nominal GDP/GDP Deflator (100)
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% change in real GDP
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% change in nominal GDP - Inflation
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Rule of 72
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# years to double = 72/rate of growth
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% Per Capita Growth
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% change in output - % change in population
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Output
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A f(labor, capital, land)
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mpe
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change in expenditures/change in income
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Aggregate Expenditures
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AE* + mpeY
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Multiplier
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1/(1-mpe)
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Reserve Ratio
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1/r
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Money Multiplier
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(1+c)/(r+c)
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Present Value
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A/(1+i)^n
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Annuity Function
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X/i
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Fed Funds Rate
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2% + current inflation + 0.5(actual inflation) + 0.5(% deviation)
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Inflation
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Nominal Wage Increase - Productivity Growth
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MV
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PQ
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Actual Deficit
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Structural Deficit + Passive Deficit
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Passive Deficit
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Tax Rate (Potential Output - Actual Output)
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Real Deficit
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Nominal Deficit - (Inflation * Total Debt)
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Balance of Payments
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Current Account + Financial & Capital Account
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% change in real exchange rate
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% change in nominal exchange rate + (domestic inflation - foreign inflation)
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