Econ Exam
Termini in questo insieme (13)
GDP deflator=
Nominal GDP/ Real GDP X 100
Inflation Rate=
(Deflator this year - Deflator last year) x 100
Real Growth Rate=
(Real GDP this year - real GDP last year) / Real GDP last year
Nominal GDP=
Real GDP x Deflator/ 100
Real GDP=
Nominal GDP/ deflator x 100
Deflator This Year =
Deflator last year x (inflation rate +1)
Demand Factors
T - Tastes and Preferences
R - Related Goods
I - Income
B - Buyers
E - Expectations
Supply Factors
Input Prices, Technology, Taxes and Subsidies, number of sellers, Expectations, Related Goods
Define Nominal GDP
Measuring GDP at current prices
Define Real GDP
Measuring Real GDP at constant, base year prices. It only changes if the output changes.
Frictional
Short-term job search
Structural
Skills don't match
Cyclical
In between jobs