Equations:

Budget Equation:

Government purchases of goods and services + government transfer payments - government tax and free collection


Trade:

Export - Imports


National Income:

2 equations:

1)  Compensation of employees + rental income + interest income + corporate profits + proprietors income

2) GDP - indirect business taxes - depreciation - net foreign factor payment


Disposable Personal Income ( DPI):

national income - personal household taxes + government transfer payments


National Domestic Product (NDP):

GDP- depreciation


Nat National Product (NNP): 

GNP - depreciation


Gross National Product:

GNP= GDP + net foreign factor payment

Budget:
+ = deficit
- = surplus 

Trade:
+ = surplus


**DEPRECATION = CONSUMPTION OF FIXED CAPITAL**
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Normal GDP: is the value of out put produced in current year prices ( quantity)
    -  can increase from year to year if either out put or prices increases


Real GDP: is the value of out put produced in constant or based year prices ( adjusted for inflation)
   - can increase from year to year only if quantity increases


******************** Economic growth use real GDP*********************


********Measure price increases (inflation) use Nominal GDP*********




Check out this link below for some great reference on how to calculate and different types of scenarios.

http://www.econport.org/content/handbook/NatIncAccount/CalculatingGDP/Examples.html