Never write a raw number as an answer. Include currency symbols (e.g., $, €, £), million/billion markers, percentage signs, or explicit units (e.g., "units of output").
The tax reduces supply, shifting the curve vertically upward by the amount of Government Tax Revenue: ib economics hl formula booklet repack
Below is a "repack" of the essential formulas and quantitative concepts categorized by the IB syllabus units. 1. Microeconomics IB Economics HL Formula Booklet | PDF - Scribd Never write a raw number as an answer
GNI=GDP+Net Income from AbroadGNI equals GDP plus Net Income from Abroad Nominal vs. Real GDP GDP=C+I+G+(X−M)GDP equals cap C plus cap I plus
Substitute your variables clearly into the equation.
GDP=C+I+G+(X−M)GDP equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren : Private Consumption : Private Investment : Government Spending : Export revenues : Import expenditures Gross National Income (GNI) Formula: