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AP Macroeconomics Formulas Flashcards

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6574523323Gross Domestic Product (expenditure approach)C + I + G + Xn0
6574523325Nominal GDPQuantity Goods Produced x Current Prices1
6574523326GDP Deflator(Nominal GDP/GDP Deflator) x 1002
6574523327Nominal to Realnominal - inflation3
6574523328% Inflation Increase (w/o Base Year)(2nd year CPI - 1st year CPI)/1st year CPI x 1004
6574523329Marginal Propensity to ConsumeΔ Consumption / Δ Disposable Income5
6574523330Marginal Propensity to SaveΔ Savings/Δ Disposable Income6
6574523331Expenditure Multiplier1/MPS 1/(1 - MPC) Δ GDP / Δ Spending7
6574523332Tax MultiplierMPC / MPS ΔGDP / ΔTaxes8
6574523333Change in GDP (as a result of Fiscal Policy)Expenditures (Spending) × Spending Multiplier Δ Expenditures (Taxes) × Tax Multiplier9
6574523334Rule of 70 (years to double price)70 / interest10
6574523335Money Multiplier1/required reserve ratio11
6574552255Unemployment rateLooking for work/Labor Fore * 10012
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