Macro formulas are the most dangerous because they are easy to confuse. Your repack must separate the Keynesian from the Monetarist formulas.
GNI=GDP+Net Income from AbroadGNI equals GDP plus Net Income from Abroad
Set the linear demand equation equal to the linear supply equation ( ) and solve for to find the equilibrium price ( P*cap P raised to the * power ). Substitute P*cap P raised to the * power ib economics hl formula booklet repack
Reverse the terms of trade formula in your notes. Write: ToT > 1 (or 100) means you are winning. If ToT falls, your export revenue falls.
When governments step into the market, you must calculate the financial impacts. Macro formulas are the most dangerous because they
IB Economics HL Formula Booklet Repack a curated collection of essential equations and definitions designed primarily for
Supply Function: Qs=c+dPSupply Function: cap Q sub s equals c plus d cap P : Quantity demanded / Quantity supplied. : Price of the good. : Autonomous demand (quantity demanded when price is zero). −bnegative b : Slope of the demand curve ( : Autonomous supply (quantity supplied when price is zero). +dpositive d : Slope of the supply curve ( Market Equilibrium Substitute P*cap P raised to the * power
Real GDP=Nominal GDPGDP Deflator×100Real GDP equals the fraction with numerator Nominal GDP and denominator GDP Deflator end-fraction cross 100 Inflation and Unemployment
