Econ Formula and Graph Shifts

Formulas chapter 22 chapter 6 unemployment rate

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FORMULAS-Chapter 22 (Chapter 6) Unemployment rate = Number of people unemployed x 100 Labor force Labor force participation rate = Working-age population x 100 Labor force % Change = Original variable x 100 difference between two variables % Change = original/base # x 100 Current # - original/base #
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FORMULAS-Chapter 23 (Chapter 7) CPI in current year - CPI in previous year CPI in previous year x 100 Inflation rate = CPI = Cost of CPI basket at current period prices Cost of CPI basket at base period prices x 100 GDP deflator = (Nominal GDP ÷ Real GDP) × 100. Price of stamp in 2007 dollars = Price of stamp in 1907 dollars x CPI in 2007 CPI in 1907 Nominal wage rate in 2006 CPI in 2006 x 100 Real wage rate in 2006 = Real interest rate = Nominal interest rate – Inflation rate.
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FORMULAS-Chapter 24 (Chapter 8); Labor Supply/Demand Nominal Wage Rate Price Level RWR = LD LS2 RWR Labor LS1 LD2 LS RWR Labor LD1
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FORMULAS- Chapter 25 (Chapter 9) Growth of real GDP = Real GDP in current year Real GDP in previous year x 100 Real GDP in previous year Growth of real GDP = per Person Real GDP per Person in current year Real GDP in previous year x 100 Real GDP per Person in previous year Growth of real GDP per person Growth rate of real GDP Growth rate of population = Growth of Population = Population in current year Real GDP in previous year x 100 Population in previous year Labor Productivity = Real GDP Aggregate hours Years to Double = Annual % Growth Rate 70 Real GDP = quantity of labor (aggregate hours) x Labor productivity
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FORMULAS-Chapter 26 (Chapter 10); Loanable Funds Market DLF RIR = Qty DLF Exp. Profit = amt. invested = DLF Population = DLF Bus. Cycle Expansion = DLF Technology, successful new products =
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