Econ 114 Formulas
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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
Unemployment Rate = unemployed/labour force x 100
CPI = cost of basket in current year/cost of basket in base year x 100
inflation rate = CPI this year - CPI last year/CPI last year x 100
- Savings = Disposable Income - Consumption
- S = DI - C
APC = Consumption/Income
Change in Consumption/Change in Income
MPS = Change in Saving/Change in Income
i = nominal rate - rate of inflation
- Relationship between change in GDP and change in expenditure
- Multiplier = Change in GDP/Change in Spending or Expenditure
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