经济学原理2.ppt

Chapter2,MeasuringNationalIncome,1.Outlineofmeasuringnationalincome,Finalgoodsandservices,households,Buyingforgoodsandservices,Productiveservices,businesses,Income(=GDP),Wages,rents,profits,(=GDP),Income(=GDP),Sellingforgoodsandservices,2.Twomeasuresofnationaloutput,1)Flow-of-productApproach(goodsflow)2)EarningsorcostApproach(earningsflow)3)Equivalenceofthetwoapproaches,1)Flow-of-productApproach,Inthismeasure,weonlycalculatethefinalproducts,notintermediategoods(avoidingdoublecounting).Ifweaddalltheconsumptionspentonthefinalgoodsandservices,wellgetthetwo-part-modesGDP.(asthefigure:theupperloop),2)Earningsorcostsapproach,Thebusinessesmustpayfortheproductiveinputs:wage,rent,profit,etc.Thesewecallthecostthebusinessmustexpend.Thecostarealsotheearningsthehouseholdsreceivefromthebusiness.AddallthecostwellgetthetotalGDP.(asthefigure:thelowerloop),3)Equivalenceofthetwoapproach,Theresultsbythetwoapproachesareequal.Why?*Nationalaccountsderivedfrombusinessaccounts.(P.392),3.Aboutthe“DoubleCounting”,Finalgoods:theproductthatisproducedandsoldforconsumptionorinvestment.Intermediategoods:goodsthatareuseduptoproduceothergoods.Valueadded:thedifferencebetweenafirmssalesanditspurchasesofmaterialsandservicesfromotherfirms.,Finalgoodsandintermediategoods,Breadreceipts,Costs,andValueadded,4.Detailsofthenationalaccount,1)RealGDP&NominalGDPNominalGDP:GDPmeasuredinactualmarketprices.RealGDP:GDPmeasuredinconstantorinvariantprices.GDPDeflator:NominalGDP/RealGDP,Q=realGDP=NominalGDP/GDPDeflator,Example:P395,396,Example,Iftheeconomyonlyincludesthehotdogandhamburgerproductionandconsumption,pleasecalculatethenominalandrealGDP(basedonyear2001),andtheGDPdeflator.,2)Investmentandcapitalformation,Investment:theadditionstothenationscapitalstockofbuildings,equipmentandinventoriesduringayear.GrossInvestment:theinvestmentincludesallinvestmentgoodsproduced.(includesdepreciationwhichistheamountofcapitalthathasbeenusedupinayear)NetInvestment=GrossInvestment-Depreciation,3)Government,TransferPaymentGovernmentPurchases&theOfficialGovernmentBudgettheofficialgovernmentbudgetincludesgovernmentpurchasesandthetransferpayment.,4)Taxes,DirecttaxesIndirecttaxesWhenwecalculateGDPintheflow-ofcostway,wemustaddtheindirecttaxintotheGDP.,5)NetExports,Netexports:thedifferencebetweenexportsandimportsofgoodsandservices.Exportsmeansthenationprovidesthegoodsandservicestoothernations.Importsmeanstheforeigncountriesprovidegoodsandservicestothenation.,6)Totalnationalinvestment,Totalnationalinvestment:I+XTotalnetnationalinvestmentNetforeigninvestment(netexports),7)GDP,NDP,GNP,GDP:GrossDomesticProduct,themarketvalueofallfinalproductsandservicesproducedinanationduringoneyear.Itincludesgrossinvestment.NDP:NetDomesticProduct.(GDP-Depreciation)GNP:GrossNationalProduct.,conclusion,GoodsFlow(upperloop):GDP=C+I+G+XEarningsFlow(lowerloop):GDP=Wageorotherincome+Interest,Rentorotherpropertyincome+indirecttaxes+depreciation+profitTheresultbythetwowaysisequal.,SomeExamples,8)FromGDPtoDI,GDP=totalincomesbydifferentfactors+indirecttaxes+depreciationNI(nationalincome)=GDP-indirecttaxes-depreciationDI(disposableincome)=NI-directtaxes-netbusinesssaving+transferpayment,FromGDPtoNItoDI,Example:GDPbyincomeside,Wagesandothers10,363Rents233Firmsprofits1,281Otherincome880Netinterest884NI13641Firmstransferpayment81Firmsindirecttax1505Statisticaldiscrepancy47NNP15274Depreciation1790GNP17064Earningsfromtheforeigninputs32GDP17096,9)Theidentityofmeasuredsavingandinvestment,Thisisanidentityofnationalincomeaccountingbydefinition.Investmentmeanstheadditionstothenationscapitalstockofbuilding,equipmentandinventoriesduringayear.Fromthefigure,theinvestmentisthepartofupper-loopoutputwhichisnotconsuming.Thesavingmeansthepartofthelower-loopdisposableincome(orGDP)thatisnotspentonconsumption.(assume:two-part-economy),Tosummarize:I=product-approachGDPminusCS=earnings-approachGDPminusCTheamountGDPmeasuredbythetwowaysissame.So,I=S:theidentitybetweenmeasuredsavingandinvestment.,Open-economy,I+X=PS+GS,I=SIT=I+XS=PS+GS,Domesticinvestmentplusnetexportsequalsprivatesavingsplusgovernmentsurplus,conclusion,Nationalsavingalwaysequalsnationalinvestment.Thecomponentsofinvestmentaredomesticinvestmentinplant,equipmentandinventoriesandforeigninvestmentornetexports.Thesourceofsavingincludesprivatesaving(byhouseholdandbusiness)andgovernmentsaving(thegovernmentbudgetsurplus).,10)Otherdetailsaboutnationalincomeaccount,PriceindexandinflationCommentonthecalculateofGDP,Priceindexandinflation,DefinitionPriceindex:ameasureoftheaveragelevelofpriceInflation:ariseinthegenerallevelofprice(rateofinflation)Deflation:afallinginthegenerallevelofprice,Priceindex