hnd_经济学outcome_2讲课教案.ppt

Diagramofcircularflowofincome enterprise Injectionsandwithdraws Knowdefinitions examples andinfluenceonthecircularflowofincome Thereare3setsofinjectionsandwithdrawalswhichcanalterthecircularflowofincomeinaneconomy Injection J ismoneyenteringtheflow InjectionsincludeInvestment governmentspendingandExports Withdrawal W ismoneyleavingtheflow Withdrawalsincludesaving taxationandimports Investment Ineconomics investmentisbuyingandproducingcapitalgoodswhicharenotconsumedbutaretobeusedforfutureproduction Examplesincludetangibles suchasbuildingarailroadorfactory andintangibles suchasayearofschoolingoron the jobtraining etc Moreinvestmentmeansthatmoreproductionandmoreemployment andmoreincomecirculateandthuseconomicactivityisincreased Saving Ineconomics personalsavinghasbeendefinedaspersonaldisposableincomeminuspersonalconsumptionexpenditure Forexample householdsdepositmoneyintobanksorotherfinancialinstitutions orjustretainmoneyintreasuries Ifacountrysavestoomuchofitsincomethisiswithdrawnfromthecircularflowandtheflowwilldecrease Thismeansthatlessincomecirculatesandeconomicactivityisreduced GovernmentSpending G andTaxation T Governmenttaxesboththehouseholdandbusiness sothattaxes T arewithdraw Example directtax incometax andindirecttax salestaxes Indetail valueaddedtax VAT Capitalgainstax Corporationtax EnvironmentAffectingTax Inheritancetax Propertytax etc Increasingtaxeswilldecreasedisposableincome thuslessincomecirculatesandeconomicactivityisreduced Thegovernmentpurchasesgoodsandservicesfromthebusiness andgivestransferpayments sothatgovernmentspending G isinjection G includes investmentdirectlyintotheeconomyintheformofgrants businessallowances investmentinroads hospitals housing investmentinnationalisedindustries andtheWelfareState pensions unemploymentbenefitsandothertransferpayments TP Increasinginvestmentandspendingbygovernmentwillincreaseemploymentandproduction thusmoreincomecirculatesandeconomicactivitywillbeincreased Exports E andImports M Exports goodsandservicesareproducedinonecountryandsoldabroad Thepaymentforthemwillreturntothefirmsinthiscountry Thus itisaninjection Example Thisincreasesthecircularflowandcreatesmoreeconomicactivityintheeconomy Imports goodsandserviceswhichareboughtfromothercountriesandconstituteawithdrawfromthecircularflowofincomeandentertheflowofincomeofanothercountry Example Thisdecreasesthecircularflowandcauseslesseconomicactivityintheeconomy DifficultiesofmeasuringNationalIncome Arbitrarydefinitionofproduction whatshouldandshouldnotbemeasured Valueofservicerenderedbyconsumerdurablegoods InadequateInformation Dangerofdoublecounting Problemsinmakingcomparisonsovertimeandbetweencountries Arbitraryexclusion AnumberofitemsareexcludedinthemeasurementofNI eventhoughtheyoftendorepresentrealproductiveeffort UndergroundactivitiesIllegalactivitiesUnreported butlegal activitiesNon marketactivitiesServicesofhomemakersDIYproductionVolunteerservices OtherdifficultiesofmeasuringNI Notionalrent ofowner occupiedhousesiscountedinNIlikerealrentofpropertyforletting andhencepreventsGDPfalling Thereisdangerofdoublecountingsuchastaxes transferpayments stockappreciation andinputbyothers Inadequateinformation ThesourcesfromwhichdataareobtainedwerenotspecificallydesignedtoprovideinformationforNIcalculations Inaddition capitalconsumptionoffixedassetsisthemajorproblem becausethereisnoaccuratefigureforrealdepreciation Problemsinmakingcomparisonsovertimeandbetweencountries Howtocomparegrowthratesofdifferentcountries NIgrowthrate WeaknessesofNIasindicationofstandardofliving NIisthenearestindicationofwelfare ButNIcannotbeacceptedsolelyonitsfacevalue Thefollowingqualificationsmustbemade Theriseingenerallevelofprice inflation Populationlevelchanges Theproportionofconsumerandproducergoodsmaychange ChangeinNImaybeduetosurplusofexportsoverimports Unfairdistributionofthewealth Onlyasmallminorityofwealthypeopleconsumetheextragoods Paidservicesmaybecomemore Environmentalproblems TocompareStandardsofLivingofdifferentcountries Whenusedforinternationalcomparison GNPstatisticsaresubjecttoqualificationsinadditiontothosementionedabove Exchangeratesmaynotreflectaccuratelytheinternalpurchasingpowerofcurrencies Tastesandneedsvarybetweencountries TheproportionofGNPspentondefenseandsocialservicesvaries Countriesvaryinaverageworkingweek proportionofwomenworkers numberofjobsdonebythemselves accuracyoftaxreturns Multiplier AnychangeinthelevelofinjectionsorwithdrawalswillbringaboutachangeinthelevelofNationalIncome ThechangeinNationalIncomewillberelativelygreaterthantheinitialchange Thisisknownasthe Multiplier effect Anotherdefinition theadditionalshiftsinaggregatedemandthatresultwhenexpansionaryfiscalpolicyincreasesincomeandtherebyincreasesconsumerspending Marginalpropensitytoconsumeandsave MarginalPropensitytoConsume MPC ratioofthechangeinconsumptiontothecorrespondingchangeinincome Marginalpropensitytosave MPS ratioofthechangeinsavingtocorrespondingchangeinincome FormulaeofMPCandMPS Multiplierformula Achangeinaninjectioncanhaveamultipliereffect E g MPC 0 6andtheMPS 0 4 andthereisanincreaseininvestmentof 1million thevalueofthemultiplierwillbe 1millionx 1 0 4 2 5million meaningthat 1millioninvestmentincreasewillincreasenationalincomeby2 5times Anexampleformultipliereffect investment Ultimateinjection Explanationofmultipliereffect Incomeandemploymentisgenerated outputrises someofthemoneydisappearsasaleakage Theremainingmoneygoesroundthesystemagain generatingmoreincome employmentandoutput Again somemoremoneyleaksout Thisprocesscontinueswithincomeandemploymentbeinggeneratedandoutputincreasing Theamountsgoingroundthesystemgetsmallerandsmaller Graphofmultipliereffects Explainnominalandrealgrowthrate NIgrowthrate HowtoexplainnominalandrealNI NominalNIisthevalueofNIintermsofpricepre