# Economics

• Aggregate Demand - Aggregate Demand represents the total spending on goods and services in an economy. It combines consumer, investment, government spending, and net exports.
• Baumol's Cost Disease - Baumol's Cost Disease explains the wage rise in non-productive sectors due to productivity-linked wage increases in other sectors. Learn how to calculate its effect.
• Beveridge Curve Unemployment and Vacancy Relationship - The Beveridge curve represents the relationship between unemployment and job vacancies. This calculator simplifies the relationship to illustrate the concept.
• Consumer Price Index (CPI) - The Consumer Price Index (CPI) measures the average change in prices of goods and services over time. This formula calculates the CPI percentage based on current and base costs.
• Consumer Price Index (CPI) - The Consumer Price Index (CPI) measures changes in the price level of a weighted market basket of consumer goods and services and is used to determine inflation.
• Engel's Law - Engel's Law describes the negative relationship between the proportion of income spent on food and household income. Calculate Engel's coefficient with this formula.
• Fisher Equation - The Fisher Equation relates nominal interest rates, real interest rates, and inflation, giving insights into the real earnings of investments.
• Gross Domestic Product (GDP) - The GDP represents the total monetary value of all goods and services produced within a country's borders in a specific time period. This calculator helps find the GDP.
• Harrod-Domar Growth Model - The Harrod-Domar growth model calculates an economy's growth rate based on its savings rate and capital output ratio. Utilized in economic growth and policy analysis.
• Heckscher-Ohlin Model - The Heckscher-Ohlin Model formula represents the production of a good taking into account capital, labor, and quantity produced.
• Keynesian Multiplier - The Keynesian multiplier measures the effect of increased income on economic growth through consumption. Calculate this to understand fiscal policy impacts.
• Kuznets Curve - The Kuznets Curve is a graphical representation of the relationship between economic development in a country and income inequality over time.
• Labor Force Participation Rate - The labor force participation rate is the percentage of the working-age population in the labor force. This calculator helps in determining the LFP.
• Laffer Curve - The Laffer Curve visualizes the relationship between tax rates and government revenue, indicating an optimal tax rate for maximizing revenue without overtaxing.
• Marginal Cost - The marginal cost (MC) is the change in the total cost resulting from a one-unit change in quantity. This calculator helps find the per-unit cost of producing additional units.
• Marginal Propensity to Consume (MPC) - The Marginal Propensity to Consume (MPC) measures the proportion of additional income that is spent on consumption. Learn how to calculate MPC and its economic significance.
• Marginal Propensity to Save (MPS) - The Marginal Propensity to Save (MPS) measures the fraction of extra income that households save. Use this calculator to determine the MPS from changes in savings and income.
• Net National Product (NNP) - Net National Product (NNP) is the Gross National Product (GNP) minus depreciation. It serves as an indicator of the economic performance of a country.
• Okun's Law - Okun's Law is an economic principle that relates changes in unemployment to changes in a country's GDP. Use this calculator to estimate the impact of unemployment on GDP.
• Opportunity Cost - This calculator provides a measure of the relative cost of choosing one option over another in terms of the benefits lost.
• Pareto Efficiency Checker - Check if a set of allocations is Pareto efficient with this simple formula. Applicable in economics and resource management.
• Purchasing Power Parity (PPP) - Purchasing Power Parity (PPP) calculates the relative value of different countries' currencies based on the ability to purchase the same basket of goods.
• Quantity Theory of Money - The Quantity Theory of Money relates the money supply and the velocity of money to the price level and quantity of output in an economy, guiding monetary policy and economic analysis.
• Wagner's Law - Wagner's Law describes the tendency for the public sector's share of national income to increase with economic growth.