Ap Macroeconomics Cheat Sheet Page 2
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2
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4Key to Macroeconomic Symbols
•
GDP
– Real GDP (Output)
•
MS – Money Supply
R
•
C – Consumption
•
MD – Money Demand
•
I
– Gross Private Investment
•
ER – Excess Reserves
G
•
G – Government Spending
•
i% - nominal interest rate
•
X
– Net Exports (Exports – Imports)
N
•
DR – discount rate
•
w- wages (primary cost of production)
•
RR – reserve ratio
•
OMO – open market operations (buying
•
T – taxes
and selling gov’t bonds)
•
DI – disposable income
•
FOREX – foreign exchange market
•
X – Exports
•
D
- demand for dollars in FOREX
•
M – Imports
$
•
S
- supply of dollars in FOREX
$
•
AD – aggregate demand
•
$ - value of dollar in FOREX
•
SRAS – short-run aggregate supply
•
LRAS – long-run aggregate supply
•
↑ - increase
•
PL – Price Level
•
↓ - decrease
•
→ - shift right (increase)
•
SRPC – short-run Phillips curve
•
← - shift left (decrease)
•
LRPC – long-run Phillips curve
•
.: - therefore
•
u% - unemployment rate
•
Δ - change
•
π% - inflation rate
•
S
– Supply of loanable funds
LF
•
D
– Demand for loanable funds
LF
•
r% - real interest rate
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