exam 2 formula sheet

exam 2 formula sheet - ECON 210 Formula Sheet for Exam #2...

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ECON 210 Formula Sheet for Exam #2 Chapter 7 Price elasticity of demand ( d ε )= P Q d % % Price elasticity of supply ( s )= P Q s % % Income elasticity= Income Q d % % Cross-price elasticity= y d x P Q % % Chapter 14 GDP = C + I + G + (X – Z) Net exports = exports – imports Gross Investment = Net Investment + Consumption of Fixed Capital Real GDP = current output evaluated at base year prices Percentage change in real GDP = 100 x (new GDP – old GDP)/(old GDP) CPI = 100 x (current cost of base-period basket of goods)/(base period cost of base-period basket of goods) GDP deflator = 100 x (nominal GDP/real GDP)
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This note was uploaded on 02/26/2012 for the course ECON 210 taught by Professor Staff during the Fall '08 term at Purdue.

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exam 2 formula sheet - ECON 210 Formula Sheet for Exam #2...

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