Macro Connections

BASE YEAR

C + I + G + (X − M)

CURRENT PRICES

(BASKET TODAY ÷ BASE YEAR BASKET) × 100

USED CAR SALE

FINAL GOODS PRODUCED BY A COUNTRY

FIXED MARKET BASKET

REAL GDP

ACTIVELY SEEKING WORK

DISCOURAGED WORKER (NOT UNEMPLOYED)

COMPARE THE SIZE OF ECONOMIES

GAUGING LABOR MARKET SLACK

GDP DEFLATOR

(UNEMPLOYED ÷ LABOR FORCE) × 100

CALCULATING THE INFLATION RATE

SAME QUANTITIES