The Total Labor Force only includes people who are employed or actively seeking employment. It excludes discouraged workers, students, and retirees. The Keynesian Multiplier
This section focuses on the economy as a whole. You'll use formulas to measure growth, unemployment, inflation, and the impact of policy. ib economics hl formula booklet repack
XED=%ΔQdx%ΔPyXED equals the fraction with numerator % cap delta cap Q sub d x end-sub and denominator % cap delta cap P sub y end-fraction Identifies relationships between two goods. Key Ranges: (Substitutes), (Complements), (Unrelated). Income Elasticity of Demand (YED) The Total Labor Force only includes people who