Macro Chapter 6-7 Formulas

(personal consumption expenditures)+(gross private domestic investment)+(government purchases)+(net exports)

Exports - Imports

GDP - depreciation

Personal income - taxes

Numbers of goods sold x price per good

(nominal GDP) / (price index/100)

(price of market basket in a specific year) / (price of same basket in base year) x 100

(new - old) / (old) x 100

(price of most recent market basket in particular year) / (price of same market basket in 1982-1984) x 100

GDP / (size of population)

(70) / (annual percentage rate of growth)

(total input cost) / (number of units of output)

(unemployed) / (labor force) x 100

(nominal income) / (price index/100)

(% change in nominal income) - (% change in price level)