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Econ 203 Exam 1 Equations Detailed Questions And Expert Answers 2024
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Econ 203 Exam 1 Equations Detailed Questions And Expert Answers 2024
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Econ 203 Exam 1 Equations Detailed QuestionsAnd Expert Answers 2024
GDP (open economy) - ANS Y = C + I + G + NX
Nominal GDP - ANS ('22 real GDP - '21 Real GDP / '21 Real GDP) x 100
Real GDP - ANS (Nominal GDP / GDP Deflator) x100
GDP Deflator - ANS (Nominal GDP year t / Real GDP year t) x100
CPI '22 - ANS (Cost of Basket '22 / Cost of Basket in '21) x100
2022 Inflation Rate - ANS (CPI '22 - CPI'21 / CPI '21) x100
GDP (closed economy) - ANS Y = C + I + G
What does Saving (S) = in closed economy? - ANS Investment
National Saving (S) - ANS I = Y - G - C
Private Saving - ANS Y - C - T
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