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Macro Midterm 1
Formulas and Main points
13
Economics
Undergraduate 2
09/24/2009
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Term
inflation rate
 Definition
(price index new-price index old / price index old) x 100
Term
GDP Deflator
 Definition
N.GDP / R. GDP x 100
Term
CPI
 Definition
CB current year/CB base year X 100
Term
3 ways of finding GDP
 Definition
Value of G/S produced, total factor income, sum of value addded
Term
total expenditures
 Definition
wages + rent + interest + profits + intermediate goods
Term
GDP (aggregate spending)
 Definition
C + I + G + (NX)
Term
Investment (closed economy)
 Definition
GDP-C-G
Term
Private Savings
 Definition
GDP + TR - T - C
Term
Government Saving
 Definition
T - TR - G
Term
National Savings
 Definition
GDP - C - G (Spriv + Sgov)
Term
KI (capital inflow)
 Definition
-NX (-(X-IM))
Term
nominal interest rate
 Definition
amount paid at end of yr-amount borrowed/ amount borrowed
Term
rate of return
 Definition
revenue of project-cost of project/ cost of project
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