Ib Economics Hl Formula Booklet | Repack

GDP=C+I+G+(Xв€’M)GDP equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren

Profit=TRв€’Economic Costs (Explicit + Implicit costs)Profit equals TR minus Economic Costs (Explicit + Implicit costs) Critical Market Structure Benchmarks: Revenue Maximization Rule: Allocative Efficiency: Productive Efficiency: Section 2: Macroeconomics Formulas

Given: ( QD = a - bP ), ( QS = c + dP )

The PPF curve illustrates scarcity, choice, and opportunity cost. While the concept is often visual, Paper 3 can require you to calculate precise trade-offs.

When the government steps into the market, it changes consumer and producer outcomes. ib economics hl formula booklet repack

Measures how the demand for Good X changes when the price of Good Y changes.

11в€’MPCthe fraction with numerator 1 and denominator 1 minus MPC end-fraction GDP=C+I+G+(Xв€’M)GDP equals cap C plus cap I plus

Unemployment Rate=Number of UnemployedTotal Labour ForceГ—100Unemployment Rate equals the fraction with numerator Number of Unemployed and denominator Total Labour Force end-fraction cross 100 The Keynesian Multiplier (HL Only)

The multiplier shows how an initial injection of spending leads to a larger final increase in national income. Measures how the demand for Good X changes

Read from the domestic supply curve at the world price + tariff. Imports: Tariff Revenue: Exchange Rates

Gini Coefficient and the construction of the Lorenz Curve. Critical HL Additions IB Economics HL Formula Booklet | PDF - Scribd