This is where the math gets "crunchy." Your repack should have these in a clear table: Costs: Profit Maximization: Revenue Maximization: Allocative Efficiency: Productive Efficiency: 3. Macroeconomic Calculations (Unit 3) The Multiplier:
The booklet shows: [ \textTax burden on consumer = \frac\textPES\textPED + PES \times \textTax ]
Finding the value of one currency in terms of another. ib economics hl formula booklet repack
Consolidating micro, macro, and global formulas.
CPI=Cost of Basket in Current YearCost of Basket in Base Year×100CPI equals the fraction with numerator Cost of Basket in Current Year and denominator Cost of Basket in Base Year end-fraction cross 100 This is where the math gets "crunchy
Remember that PED is inherently negative, but is written as a positive absolute value in your final evaluation. Conversely, a negative XED or YED must retain its negative sign to properly identify the relationship between goods.
XED=%ΔQd of Good X%ΔP of Good YXED equals the fraction with numerator % cap delta cap Q sub d of Good X and denominator % cap delta cap P of Good Y end-fraction (Positive): Substitutes (e.g., Pepsi and Coca-Cola) (Negative): Complements (e.g., Printers and Ink cartridges) : Unrelated goods Income Elasticity of Demand (YED) Formula: CPI=Cost of Basket in Current YearCost of Basket
Elasticities measure responsiveness. Always remember to use percentage changes, not absolute values.
TOT=Index of Export PricesIndex of Import Prices×100cap T cap O cap T equals the fraction with numerator Index of Export Prices and denominator Index of Import Prices end-fraction cross 100
Current Account Balance=Balance of Trade in Goods+Balance of Trade in Services+Net Income Flows+Net Current TransfersCurrent Account Balance equals Balance of Trade in Goods plus Balance of Trade in Services plus Net Income Flows plus Net Current Transfers Exchange Rates
To maximize your quantitative score, apply this structural protocol to every mathematical question: