Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

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Macro Midterm Review

Transcript of Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

Page 1: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

Macro Midterm Review

Page 2: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What are the formulas for the spending multiplier

• 1/MPS• 1/1-MPC

Page 3: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the equation for MPC

• MPC = Change in consumption/change in income

Page 4: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula for MPS

• MPS = Change in savings/change in income

Page 5: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula for the GDP Deflator?

• GDP Deflator = current year prices x quantity of current year basket/base year prices x quantity of current year basket

Page 6: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What are the formulas for Nominal and Real GDP?

• Nominal = quantity of goods/services x price• Real = Nominal GDP/ Price index

Page 7: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula for the tax multiplier?

• Tax Multiplier = -MPC/MPS

Page 8: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula for the money multiplier?

• MM = 1/reserve ratio

Page 9: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula to compute the maximum money a bank can loan out and the entire

banking system?• Individual Bank = ER• Banking system = ER x money multiplier

Page 10: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula for the unemployment rate?

• Unemployment rate = # unemployed/ Labor Force

Page 11: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula for the CPI?

• CPI = Base year quantities x current year prices/ base year quantities x base year prices

Page 12: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What are the determinants of GDP?

• C + I + G + Xn

Page 13: Macro Midterm Review. What are the formulas for the spending multiplier 1/MPS 1/1-MPC.

What is the formula for the equation of exchange?

• MV = PQ


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