question
The expenditure approach to measuring GDP
answer
GDP = C + I + G + Xn:
question
The income approach to measuring GDP
answer
GDP = W + I + R + P
question
nominal gdp
answer
C+I+G+NX
question
Real GDP
answer
Real GDP = GDP on Nominal Terms / Deflator of GDP.
question
Consumer Price Index
answer
Cost of products and Services for the Given Year/Cost of Products and Services for the Determined Base Year.
question
real gdp per capita
answer
real gdp/population
question
real gdp
answer
multiply quantity of output in a given year by the prices from the base year
question
Labor force participation
answer
(Labor force/working age) * 100
question
unemployment rate
answer
(Unemployed/labor force) * 100
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