question
GDP =
answer
C + I + G + NX
question
The c in C+I+G+NX refers to
answer
Consumption
question
The I in C+I+G+NX refers to
answer
Investment
question
The G in C+I+G+NX refers to
answer
Government spending
question
The NX in C+I+G+NX refers to
answer
Net Exports
question
Net Exports =
answer
Exports - Imports
question
GDP per Capita =
answer
GDP / Population
question
Nominal GDP =
answer
P * Q
question
Real GDP =
answer
(Nominal GDP / Price Level) * 100
question
GDP Deflator =
answer
(Nominal GDP / Real GDP) x 100
question
%△ =
answer
(Value - Value(t-1) / Value(t-1)) * 100
question
Inflation Rate =
answer
((New GDP Deflator - Old GDP Deflator) / Old GDP Deflator) * 100
question
%△ Nominal GDP =
answer
%△ Real GDP + %△ Price Level
question
Unemployment Rate =
answer
(Unemployed / Labor Force) * 100
question
Labor Force Participation Rate =
answer
(Labor Force / Adults) * 100
question
Work Eligible Population =
answer
Labor Force + Not in Labor Force
question
Employed =
answer
Labor Force - Unemployed
question
Labor Force =
answer
(Employment / Unemployment Rate) * 100
question
Not in Labor Force =
answer
(Labor Force / Labor Force Participation Rate) * 100
question
CPI of Base Year =
answer
100
question
CPI =
answer
((Consumer Basket Year Price) / Consumer Basket Base Price)) * 100
question
Inflation Rate =
answer
((New CPI - Old CPI) / Old CPI) * 100
question
Price Inflation =
answer
Previous Price * (New CPI / Old CPI)
question
Price Deflation =
answer
Higher Price * (Old CPI / New CPI)
question
Equation of Exchange =
answer
M V = P Y
question
The M in M V = P Y refers to
answer
Quantity of Money
question
The V in M V = P Y refers to
answer
Velocity of Money
question
The P in M V = P Y refers to
answer
Price Level
question
The Y in M V = P Y refers to
answer
Real GDP
question
Equation of Exchange Growth =
answer
%△M + %△V = %△P + %△Y
question
Labor Force =
answer
Employed + Unemployed
question
Real GDP =
answer
(New Quantity * Base Price) + (Repeat)
question
Nominal GDP increases with
answer
Price
question
Real GDP increases with
answer
Quantity
question
GDP does not account for
answer
Nonmarket goods, Underground economy, Environmental economy and leisure
question
Unemployment due to a change in lifestyle
answer
Frictional
question
Unemployment due to changes in products or demand
answer
Structural
question
Unemployment due to serious negative changes in the economy
answer
Cyclical
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