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Measuring a Nation’s Income 23 In this chapter, look for the answers to these questions: What is Gross Domestic Product (GDP)? How is GDP related to a nation’s total income and spending? What are the components of GDP? How is GDP corrected for inflation? Does GDP measure society’s well-being? 什么是国内生产总值（GDP）？ GDP与一国的总收入与总支出有什么联系？ GDP由哪几部分组成？ GDP怎么进行通货膨胀的校正？ GDP是衡量经济福利的好指标吗？ Micro vs. Macro Microeconomics: The study of how individual households and firms make decisions, interact with one another in markets. Macroeconomics: The study of the economy as a whole. We begin our study of macroeconomics with the country’s total income and expenditure. 微观经济学: 研究家庭和企业如何做出决策，以及它们如何在市场上相互交易 宏观经济学： 研究整体经济现象 我们从国家的总收入和总支出开始学习宏观经济学 Income and Expenditure Gross Domestic Product (GDP) measures total income of everyone in the economy. GDP also measures total expenditure on the economy’s output of gs. 国内生产总值 (GDP) 衡量经济中所有人的总收入 GDP也衡量用于经济中物品与劳务生产的总支出 The Circular-Flow Diagram 循环流量图 a simple depiction of the macroeconomy illustrates GDP as spending, revenue, factor payments, and income Preliminaries: Factors of production are inputs like labor, land, capital, and natural resources. Factor payments are payments to the factors of production (e.g., wages, rent). 宏观经济的一个简单描述 用支出，收益，要素支付和收入来说明GDP 预备知识： 生产要素：诸如劳动，土地，资本，自然资源等投入 要素支付：支付给生产要素的报酬（例如，工资，租金） What This Diagram Omits The government collects taxes, buys gs The financial system matches savers’ supply of funds with borrowers’ demand for loans The foreign sector trades gs, financial assets, and currencies with the country’s residents 政府 征税，购买物品与劳务 金融体系 在储蓄者资金的供给和借款者贷款的需求之间达成均衡 外国部门 物品与劳务贸易，金融资产，外国居民的货币 The Components of GDP Recall: GDP is total spending. Four components: Consumption (C) Investment (I) Government Purchases (G) Net Exports (NX) These components add up to GDP (denoted Y): GDP 是总支出 四个组成部分： 消费 （C） 投资 （I） 政府购买 （G） 净出口（NX） 这四个组成部分的总和等于GDP（用Y表示）： Consumption 消费(C) is total spending by households on g