西方经济学(宏观)课件CHAPter02.ppt

CHAPTER 2 TRACKING THE MACROECONOMY What You Will Learn in this Chapter: The Circular-Flow Diagram An Expanded Circular-Flow Diagram: The Flows of Money Through the Economy The National Accounts Almost all countries calculate a set of numbers known as the national income and product accounts The national income and product accounts, or national accounts, keep track of the flows of money between different parts of the economy The National Accounts Households earn income via the factor markets from wages, interest on bonds, dividends on stocks, and rent on land In addition, they receive government transfers from the government Disposable income, total household income minus taxes, is either expended as consumer spending (C) or goes into private savings The National Accounts Via the financial markets, private savings is channelled to firms for investment spending (I) Government purchases of goods and services (G) is paid for by tax receipts as well as by government borrowing Exports (X) generate an inflow of funds into the country from the rest of the world, while imports (IM) lead to an outflow of funds to the rest of the world Foreigners can also buy stocks and bonds in the Canadian financial market, and Canadians can buy stocks and bonds in foreign financial markets Gross Domestic Product Gross domestic product, or GDP, measures the value of all final goods and services produced in the economy It does not include the value of intermediate goods Calculating Gross Domestic Product GDP can be calculated three ways: Adding up the value added of all producers Adding up all spending on domestically produced final goods and services, leading to the equation GDP = C + I + G + X ? IM Adding up all the income paid to factors of production Calculating GDP Pitfalls: GDP: WHAT’S IN AND WHAT’S OUT Included Domestically produced final goods and services (including capital goods) New construction of structures Changes to inventories Not Included Intermediate goods and services I