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Unformatted text preview: trade surplus aggregate supply business cycles credit crisis unemployment rate mortgage backed securities depression international arbitrage recession global footprint labor force appreciation underemployment depreciation underground economy consumption types of unemployment investment GDP gap government spending natural rate of unemployment net exports potential (full employment) GDP capital consumption allowance inflation international arbitrage CPI classical model PPI labor market GDP price deflator production function GNP, NNP, NI, PI product market disposable personal income Says Law Purchasing power parity classical dichotomy Big Mac Index crowding out effect equations to remember: Ways of measuring GDP Purchasing Power Parity: P = P f x E chain-type growth rate: g = (Q 2 x P 1 ) x (Q 2 x P 2 ) (Q 1 x P 1 ) (Q 1 x P 2 ) price index = cost of market basket in current year x 100 cost of market basket in base year GDP = C + I + G + (X M) GNP = GDP + NFIA NNP = GNP CCA NI = NNP - SD NI = w + i + R + profits...
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This note was uploaded on 11/19/2010 for the course ECON 162 taught by Professor Christianson during the Spring '05 term at Binghamton University.
- Spring '05