Ch 4 · Business Cycles & National Income

5 concept points · 5 formulas · 4 exam-critical points.

🧮 Formula sheet

1. GDP = C + I + G + (X − M) [Expenditure method]
2. NDP = GDP − Depreciation
3. GNP = GDP + NFIA
4. Per Capita Income = National Income / Population
5. Real GDP = (Nominal GDP / Deflator) × 100