Ib Economics Hl Formula Booklet Repack ((link))

Profit=TR−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

GDP=C+I+G+(X−M)cap G cap D cap P equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren

The IB awards partial marks for correct methods, even if you make a simple calculation error at the end. Write down the raw formula before plugging in numbers. ib economics hl formula booklet repack

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:

Unemployment Rate=Number of Unemployed PeopleTotal Labor Force×100Unemployment Rate equals the fraction with numerator Number of Unemployed People and denominator Total Labor Force end-fraction cross 100 3. The Keynesian Multiplier (HL Only) The Keynesian Multiplier (HL Only) the fraction with

the fraction with numerator cap delta cap T cap C and denominator cap delta cap Q end-fraction Profit Maximization : Occurs where 2. Key Macroeconomics Formulas

At the bottom of each topic sheet, list 3-5 past paper questions that use those formulas, with their markscheme reference numbers. This turns your repack into a targeted practice tool. [ \textReal Interest Rate \approx \textNominal Interest Rate

[ \textReal Interest Rate \approx \textNominal Interest Rate - \textExpected Inflation ] This is vital for evaluating central bank policies.

ΔMΔYthe fraction with numerator cap delta cap M and denominator cap delta cap Y end-fraction