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AP Macroeconomics Formulas & Equations Exam Questions and Answers
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AP Macroeconomics Formulas & Equations Exam Questions and Answers
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AP Macroeconomics Formulas &Equations Exam Questions and Answers
Calculate iinominal iiGDP iiwith ii- iiAnswers ii-current iiyear iiprices
Calculate iireal iiGDP iiwith ii- iiAnswers ii-base iiyear iiprices
GDP ii= ii- iiAnswers ii-C ii+ iiI ii+ iiG ii+ ii(X ii− iiM)
GDP iiDeflator ii(percentage) ii= ii- iiAnswers ii-((nominal iiGDP) ii/ ii(real iiGDP)) ii× ii100
Percent iiChange iiin iiWhatever ii= ii- iiAnswers ii-((Year ii2 ii− iiYear ii1)/(Year ii1)) ii× ii100
Unemployment iirate ii= ii- iiAnswers ii-((number iiof iiunemployed) ii/ ii(labor iiforce)) ii× ii100
Labor iiforce iiparticipation iirate ii= ii- iiAnswers ii-((labor iiforce) ii/ ii(adult iipopulation)) ii× ii100
Consumer iiPrice iiIndex ii= ii- iiAnswers ii-((cost iiof iimarket iibasket iiin iicurrent iiyear) ii/
ii(cost iiof iimarket iibasket iiin iibase iiyear)) ii× ii100
Inflation iirate ii= ii- iiAnswers ii-((CPI iithis iiyear ii− iiCPI iilast iiyear)) ii× ii100
Amount iiin iitoday's iidollars ii= ii- iiAnswers ii-(amount iiin iiyear iiT iidollars) ii× ii((price iilevel
iitoday) ii/ ii(price iilevel iiin iiyear iiT))
Real iiWage ii= ii- iiAnswers ii-(Wage ii/ iiunit iiof iitime) ii/ ii(Price ii/ iiunit iiof iioutput)
Quantity iiequation: ii- iiAnswers ii-(Money iisupply ii× iiVelocity iiof iimoney) ii= ii(Price ii× iireal
iiGDP)
Velocity iiof iiMoney ii= ii- iiAnswers ii-(Price ii× iireal iiGDP) ii/ ii(Money iisupply)
Fisher iiEffect: ii- iiAnswers ii-(nominal iiinterest iirate) ii= ii(inflation iirate) ii+ ii(real iiinterest
iirate)
Wealth iiEffect: ii- iiAnswers ii-When iithe iiprice iilevel iirises, iiconsumer iispending
iidecreases.
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