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Formulas

Average Tax Rate (15,582) The total amount of taxes paid divided by the taxpayer's income
Budget Deficit (2,38) Government outlays minus government receipts
Budget Surplus (2,38) Government receipts minus government outlays
Absorption (5,178) C + I + G
Average Labor Productivity (1,3) The amount of output produced per unit of labor input (per worker or per hour of work)
Debt-GDP Ratio (15,586) The quantity of government debt outstanding divided by GDP
Currency-Deposit Ratio (14,535) The ratio of the currency held by the public to the public's deposits in banks
Expected After-Tax Real Interest Rate (4,113) The nominal after-tax rate of return (= nominal interest rate x 1 - tax rate) minus the expected rate of inflation; equals the expected increase in the real value of an asset after payment of taxes on interest income
Expected Real Interest Rate (2,52) The nominal interest rate minus the expected rate of inflation; equals the expected increase in the real value of an asset
Employment Ratio (3,87) The fraction of the adult population that is employed
Capital-Labor Ratio (6,215) The amount of capital per worker = Capital Stock / Number of Workers
GDP Deflator (2,43) A measure of the price level, calculated as the ratio of current nominal GDP to current real GDP
Government Saving / Budget Surplus (2,37) Net govt income minus govt purchases; equivalently, the govt's tax receipts minus its outlays
Financial Account Balance (5,170) Equals the value of financial inflows (credit items) minus the value of financial outflows (debit items)
Net Government Income (2,36) It equals taxes paid by the private sector minus payments from the govt to the private sector (transfers and interest payments on govt debt)
Net National Product (NNP) (2,35) GNP - Depreciation
Primary Government Budget Deficit (15,577) Equal to govt purchases of goods and services plus transfers minus tax revenues
Real Interest Rate (2,51) Equal to the nominal interest rate minus the rate of inflation
Real Balances (7,254) Measured as the nominal amount of money divided by the price level
User Cost of Capital (4,122) Equal to the depreciation cost plus the interest cost
Velocity (7,257) Calculated as nominal GDP divided by the nominal money supply
National Income (2,33) = GDP + Net Factor Payments - Depreciation - Statistical Discrepancy
Net Foreign Assets (2,40) A country's foreign assets (ex: foreign stocks, bonds, and factories owned by domestic residents) minus its foreign liabilities (domestic physical and financial assets owned by foreigners)
Marginal Product of Capital (MPK) (3,64) The amount of output produced per unit of additional capital
Marginal Product of Labor (MPN) (3,69) The amount of output produced per unit of additional labor
Net Exports (2,32) Exports of goods and services minus imports of goods and services
Net Investment (4,161) Equal to gross investment minus depreciation of existing capital
Real Wage (3,70) Equal to the nominal (dollar) wage divided by the price level
Participation Rate (3,88) The fraction of adults who are in the labor force
Private Saving (2,37) Equal to private disposable income minus consumption
Private Disposable Income (2,35) The income of the private sector (households and businesses taken together) after payment of taxes and receipt of transfer payments and interest from the govt
Unemployment Rate (3,87) The fraction of the labor force that is unemployed
Unanticipated Inflation (12,444) The actual rate of inflation minus the rate of inflation that was expected to occur
Wealth / Net Worth (2,36) The assets minus the liabilities of an individual, firm, or country
Reserve-Deposit Ratio (14,527) The ratio of reserves held by the bank to the public's deposits in banks
Trade Deficit (1,7) A nation's excess of imports over exports
Trade Surplus (1,7) A nation's excess of exports over imports
Tax-Adjusted User Cost of Capital (4,125) The (unadjusted) user cost of capital divided by 1 minus the effective tax rate
Created by: tcritter28
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