mid1m11 - First challenge Eco 212, Summer 2011 The...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: First challenge Eco 212, Summer 2011 The Challenge is closed book. Good luck! The following formulas may be of use. Value added = Revenues- cost of goods = Income = wages + profits = spending = C + I + G + X- M CPI = p 1 ,t · q 1 ,b + ... + p n,t · q n,b p 1 ,b · q 1 ,b + ... + p n,b · q n,b · 100 , GDP Deflator = p 1 ,t · q 1 ,t + ... + p n,t · q n,t p 1 ,b · q 1 ,t + ... + p n,b · q n,t · 100 NGDP = p 1 ,t · q 1 ,t + ... + p n,t · q n,t , GDP = p 1 ,b · q 1 ,t + ... + p n,b · q n,t GDP = NGDP GDP Deflator 100 , Y t = Y c t + Y g t , Productivity = GDP N unemployment rate = unemployed labor force · 100 , participation rate = labor force working age pop. · 100 u 6 = unemployed + marginally attached + part time for econ reasons labor force + marginally attached · 100 S = ( Y- C- T ) + ( T- G ) = I + X- M , real rate = nominal rate- inflation rate 1 Short answer questions (1-2 sentences!) Question 1 (7 points)....
View Full Document

This note was uploaded on 01/08/2012 for the course ECO 212 taught by Professor Lorca,m during the Summer '08 term at University of Miami.

Page1 / 4

mid1m11 - First challenge Eco 212, Summer 2011 The...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online