HSC Economics Formulas

HSC Economics Formulas Calculation of government revenue from tariff Tariff x level of imports (diagram) Calculation of a subsidy Vertical distance between initial equilibrium price and new supply curve (diagram) Balance of Payments CA + KAFA + Net Errors/Omissions Current Account BOGS + NPI + NSI Balance of Goods and Services Net goods + net services Financial Account Direct Investment; Portfolio Investment; Financial Derivatives; Other Assets; Reserve Assets Terms of Trade Export Price Index/Import Price Index x 100 Economic Growth Real GDP (cy) - Real GDP (py)/Real GDP (py) x 100 Real GDP Nominal GDP x 100/CPI Leakages T + S + M Injections G + I + X Aggregate Demand AD = C + I + G + (X-M) Aggregate Supply/Income (two sector model) Y = C + S Aggregate Supply/Income (three sector model) Y = C + S + T (three sector model)