gordnsym - Y N Real, natural income y Actual real GDP...

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SYLLABUS GORDON GUIDE TO SYMBOLS A Real autonomous expenditure c Marginal propensity to consume (c = 1 - s; 1 = c + s) C Real personal consumption expenditures e Real foreign exchange rate E Real expenditures (E = C + I + G + NX) G Real government purchases of goods and services i Nominal or market interest rate I Real gross private investment k Spending multiplier L Money demand function M Nominal money supply N Labor input, usually measured in person-hours NX Real net exports P Price index or price deflator p Inflation rate r Real, riskless interest rate s Marginal propensity to save (s = 1 - c; 1 = c + s) U Actual unemployment rate U N Natural unemployment rate W Nominal wage rate X Nominal GDP (X = PY) x Nominal GDP growth rate Y Real income, real output, real GDP
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Unformatted text preview: Y N Real, natural income y Actual real GDP growth rate y N Natural real GDP growth rate Frequently used Superscripts e Expected, as in expected rate of inflation (p e ) d Demand, as in demand for real balances (M/P) d f Foreign, as in foreign interest rate (r f ) N Natural, as in natural rate of unemployment (U N ), [sustainable long term with no pressure either to increase or to decrease the rate of inflation] s Supply, as in the nominal money supply (M s ) * Desired, as in desired capital stock (K*) Frequently used subscripts Initial situation prior to a change 1 New situation after a change p Planned, as in planned expenditures (E p )...
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