AP Macro Unit 2 Formulas
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unemployment rate
(# unemployed ÷ # in labor force) × 100
GDP Deflator
(Nominal GDP ÷ Real GDP) × 100
Consumer Price Index
(Price of Market Basket ÷ Price of Market Basket in base year) × 100
% Change in GDP (inflation rate)
(year 2 - year 1) ÷ year 1
Gross Domestic Product
C + I + G + Xn
M × V
P × Y
consumer surplus
buyer's maximum - price
Real GDP
current year production × base year price
producer surplus
price - seller's minimum
real GDp per capital
real GDP ÷ total population
Natural Rate of Unempoyment
structural + frictional