Econ 114 Formulas

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Anonymous
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146409
Filename:
Econ 114 Formulas
Updated:
2012-04-08 15:49:10
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Econ 114 Formulas
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Econ 114 Formulas
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  1. GDP Deflator
    Measure of the overall level of prices. Measures current level relative to prices in the base year.

    GDP Deflator = nominal GDP/Read GDP x 100
  2. Unemployment Rate
    Unemployment Rate = unemployed/labour force x 100
  3. CPI
    CPI = cost of basket in current year/cost of basket in base year x 100
  4. INFLATION RATE
    inflation rate = CPI this year - CPI last year/CPI last year x 100
  5. Savings
    • Savings = Disposable Income - Consumption
    • S = DI - C
  6. APC
    APC = Consumption/Income
  7. APS
    APS = Savings/Income
  8. MPC
    Change in Consumption/Change in Income
  9. MPS
    MPS = Change in Saving/Change in Income
  10. Interest Rate
    i = nominal rate - rate of inflation
  11. Multiplier
    • Relationship between change in GDP and change in expenditure
    • Multiplier = Change in GDP/Change in Spending or Expenditure

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