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GDP=C+I+G+(X−M)GDP equals C plus I plus G plus open paren X minus M close paren Where:
Current Account=Balance of Trade in Goods+Balance of Trade in Services+Net Primary Income+Net Secondary IncomeCurrent Account equals Balance of Trade in Goods plus Balance of Trade in Services plus Net Primary Income plus Net Secondary Income Exchange Rates
Unlike IB Math or Physics, the International Baccalaureate does not provide an official formula booklet for IB Economics HL exams
Real GDP=Nominal GDPGDP Deflator×100Real GDP equals the fraction with numerator Nominal GDP and denominator GDP Deflator end-fraction cross 100
the fraction with numerator cap T cap C and denominator cap Q end-fraction Marginal Cost (MC):
(Gross National Income): GDP + Net Property Income from Abroad Real GDP : (Nominal GDP / GDP Deflator) × 100 Inflation and Unemployment
(Consumer Price Index): (Value of basket in specific year / Value of basket in base year) × 100 Inflation Rate : [(New CPI - Old CPI) / Old CPI] × 100 Unemployment Rate : (Unemployed / Labor Force) × 100 🤝 International and Development Formulas Focus on trade balances and exchange rates.
You will frequently be asked to find the exact monetary value of market welfare from a diagram.
You will need to calculate the changes in consumer expenditure, domestic producer revenue, government tariff revenue, and deadweight loss using basic geometric formulas ( for rectangles; for triangles) superimposed on demand and supply diagrams. Exchange Rates Currency Conversion:
To change Currency A into Currency B, multiply by the exchange rate ( Value of A in terms of BValue of A in terms of B
(Note: Total Labor Force = Employed + Unemployed looking for work). Keynesian Multiplier
CPI=Cost of Market Basket in Current YearCost of Market Basket in Base Year×100CPI equals the fraction with numerator Cost of Market Basket in Current Year and denominator Cost of Market Basket in Base Year end-fraction cross 100
%ΔQdA%ΔPBthe fraction with numerator % cap delta cap Q sub d cap A end-sub and denominator % cap delta cap P sub cap B end-fraction :
Practice using the digital booklet in class, but the week before the exam, switch to the physical booklet. Tab it with sticky notes (if allowed) so you can flip to Costs or Macro instantly.
This public link is valid for 7 days and shares a thread, including any personal information you added. This link or copies made by others cannot be deleted. If you share with third parties, their policies apply. Can’t copy the link right now. Try again later.
GDP=C+I+G+(X−M)GDP equals C plus I plus G plus open paren X minus M close paren Where:
Current Account=Balance of Trade in Goods+Balance of Trade in Services+Net Primary Income+Net Secondary IncomeCurrent Account equals Balance of Trade in Goods plus Balance of Trade in Services plus Net Primary Income plus Net Secondary Income Exchange Rates
Unlike IB Math or Physics, the International Baccalaureate does not provide an official formula booklet for IB Economics HL exams ib economics hl formula booklet
Real GDP=Nominal GDPGDP Deflator×100Real GDP equals the fraction with numerator Nominal GDP and denominator GDP Deflator end-fraction cross 100
the fraction with numerator cap T cap C and denominator cap Q end-fraction Marginal Cost (MC):
(Gross National Income): GDP + Net Property Income from Abroad Real GDP : (Nominal GDP / GDP Deflator) × 100 Inflation and Unemployment This public link is valid for 7 days
(Consumer Price Index): (Value of basket in specific year / Value of basket in base year) × 100 Inflation Rate : [(New CPI - Old CPI) / Old CPI] × 100 Unemployment Rate : (Unemployed / Labor Force) × 100 🤝 International and Development Formulas Focus on trade balances and exchange rates.
You will frequently be asked to find the exact monetary value of market welfare from a diagram.
You will need to calculate the changes in consumer expenditure, domestic producer revenue, government tariff revenue, and deadweight loss using basic geometric formulas ( for rectangles; for triangles) superimposed on demand and supply diagrams. Exchange Rates Currency Conversion: Can’t copy the link right now
To change Currency A into Currency B, multiply by the exchange rate ( Value of A in terms of BValue of A in terms of B
(Note: Total Labor Force = Employed + Unemployed looking for work). Keynesian Multiplier
CPI=Cost of Market Basket in Current YearCost of Market Basket in Base Year×100CPI equals the fraction with numerator Cost of Market Basket in Current Year and denominator Cost of Market Basket in Base Year end-fraction cross 100
%ΔQdA%ΔPBthe fraction with numerator % cap delta cap Q sub d cap A end-sub and denominator % cap delta cap P sub cap B end-fraction :
Practice using the digital booklet in class, but the week before the exam, switch to the physical booklet. Tab it with sticky notes (if allowed) so you can flip to Costs or Macro instantly.
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