《国际货币与金融经济学 Daniels》ch10.pptVIP

Daniels and VanHoose An Open Economy Framework An Open Economy Framework Gross Domestic Product Economist track the overall or aggregate amount of economic activity using gross domestic product GDP GDP is the market value of all final goods and services produced within an economy during a given time period. Nominal versus Real Nominal GDP measures the current market value of all final goods and services produced within an economy during a given time period. Real GDP, in contrast, in a price-adjusted measure of aggregate output. Real GDP is calculated by dividing nominal GDP by the GDP price deflator. Price Measures The GDP price deflator is a measure of the overall price level of an economy. The consumer price index CPI is a weighted sum of prices of goods and services that the government determines a typical consumer purchases each year. The producer price index PPI is a weighted average of the prices of goods and services that the government determines a typical business receives from selling its products during a given year. The Circular Flow of Expenditures Saving, Imports and Consumption Changes in Desired Investment Government Spending and Net Taxes Exports Two Approaches to Determining Equilibrium Real Income The Derivation of the IS Schedule The Money Demand Schedule Attaining Equilibrium in the Market for Real Money Balances The Derivation of the L-M Schedule Changes in the Real Money Supply IS-LM Equilibrium and Disequilibrium The BP Schedule IS-LM Equilibrium and the BP Schedule * * Deriving the Aggregate Expenditures Schedule * * *