Help Eco Formulas (1 Viewer)

[lilman]

Hey
does anyone have all the formulas for the topics of
The global economy and Australias place in the Global Economy.
Please help!!!

 

[hello_world]

*Real GDP =
Money GDP x

current CPI
----------------
base CPI

*Real GDP per capita =
real GDP
-----------
population

*Economic growth =
This year's real GDP - Last year's real GDP
------------------------------------------------------
Last year's real GDP

*Terms of Trade =
Export Price Index
----------------------
Import Price Index

*Net Foreign Liabilities = Total Foreign Liabilities - Total Foreign Assets

*Net Foreign Debt = Total Foreign Debt Liabilities - Total Foreign Debt Assets

*Gini co-efficient and Lorenz curve
Gini=
Area A
------------------
Area A + Area B

perfect equality = 0 (Area A wouldn't exist)
perfect inequality = 1

*Current Account = Net goods (exports- imports) + Net services
+ Net incomes + Net current transfers

*Capital and Financial Acccount = Net capital transfers
+ Net direct investment + Net portfolio investment
+ Net other investment + Reserve Assets

*Balance of Payments = Current Account + capital and financial account + net errors and emissions

You should also know how to work out absolute and comparative advantage

 

[lilman]

Awesome, Thankyou SO MUCH

 

[Riviet]

One more to add:

Participation rate =

total no. of persons in workforce
total working population

 

[FranzFerdinand]

*goes straight to the back of my book*
thanks guys =D

 

[robmeister]

I love you guys and hey chris!