Related Essays

  • Eco119 Final Reflection Paper

    Studant : Marcilene Macena Gomes Module Code: ECO119 Tutour: Shaun Bisheswar Semester 1 January 2018 Having being studding economy for the last four month...

  • Write A Paragraph Or 2 Explain How Economists Measure The Economy

    In order t find real GDP when only knowing GDP I would use the GDP price deflator. I would do this by removing the effects of inflation from GDP so the over...

  • Aggregate Demand

    Inflation, Unemployment and the Fed The real GDP is short for real gross domestic product, and the GDP is the toal value of all final goods and or services...

  • New Home Costs

    Sample size is 300. The Prime Rate, High and Low, was collected from a year-to-year basis from forecast-chart.com; GDP was collected quarterly from January 1...

  • Law Of Demand Essay

    On the left tab under Publications, go to the Interactive Data Tables. Select National Income and Product Accounts. From Table 1.1.6 and 1.1.7 examine all fo...

  • Economic Theories Of Economics: Friedman Vs. Keynes

    Macroeconomic also focuses on international trade, changes in unemployment, national

  • Quantity Theory Of Money And Interest Rate

    The labor market has continued to strengthen and growth as such economic activates such employment rate as increase. Interest Rate in the United States avera...

  • Chapter Summary: The Power Of Organized Interests

    The chapter 9 talks about how to “keep(ing) score” in economy. GDP is the total value of all goods and services produced and it explains inflation. GDP per c...

  • Us Economy Conditions

    As inflation continues to increase it can influence economic and financial choices for consumers. The real wage rate is the nominal wage rate while adjust...

  • Inflation And Real Interest Rate Regression Analysis

    4.3 Inflation and Real Interest Rates Inflation is defined as a sustained increase in the general level of prices for goods and services as shown in table 6...

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/8

Click to flip

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;

8 Cards in this Set

  • Front
  • Back

GDP Formula

C+I+G+NX[X-M]=Y

Nominal GDP Formula

P(Current) x Q(Current)

Real GDP Formula

P(Base Year) x Q(Current)

GDP Deflator Formula

100 x (Nominal GDP/Real GDP)

CPI Formula

100 x (Cost of basket in current year/Cost of basket in base year)

Inflation Rate Formula

(CPI this year - CPI last year/CPI last year) x 100

Correcting for Variables for Inflation Formula

Amount in year T x (Price level today/Price level in year T)

Real Interest Rate Formula

Nominal Interest Rate - Inflation Rate