经济学教学课件 23_4E.pptVIP

? 2007 Thomson South-Western;Measuring a Nation’s Income;Measuring a Nation’s Income;THE ECONOMY’S INCOME AND EXPENDITURE;THE ECONOMY’S INCOME AND EXPENDITURE;Figure 1 The Circular-Flow Diagram;THE MEASUREMENT OF GROSS DOMESTIC PRODUCT;THE MEASUREMENT OF GROSS DOMESTIC PRODUCT;THE MEASUREMENT OF GROSS DOMESTIC PRODUCT;THE MEASUREMENT OF GROSS DOMESTIC PRODUCT;THE COMPONENTS OF GDP ;THE COMPONENTS OF GDP;THE COMPONENTS OF GDP;THE COMPONENTS OF GDP;Table 1 GDP and Its Components;GDP and Its Components (2004);REAL VERSUS NOMINAL GDP;REAL VERSUS NOMINAL GDP;Table 2 Real and Nominal GDP;Table 2 Real and Nominal GDP;Table 2 Real and Nominal GDP;The GDP Deflator;The GDP Deflator;The GDP Deflator;;Figure 2 Real GDP in the United States;IS GDP A GOOD MEASURE OF ECONOMIC WELL-BEING?;GDP AND ECONOMIC WELL-BEING;Table 3 GDP and the Quality of Life ;Because every transaction has a buyer and a seller, the total expenditure in the economy must equal the total income in the economy. Gross domestic product (GDP) measures an economy???s total expenditure on newly produced goods and services and the total income earned from the production of these goods and services. ;GDP is the market value of all final goods and services produced within a country in a given period of time. GDP is divided among four components of expenditure: consumption, investment, government purchases, and net exports. ;Nominal GDP uses current prices to value the economy’s production. Real GDP uses constant base-year prices to value the economy’s production of goods and services. The GDP deflator—calculated from the ratio of nominal to real GDP—measures the level of prices in the economy. ;GDP is a good measure of economic well-being because people prefer higher to lower incomes. It is not a perfect measure of well-being because some things, such as leisure time and a clean environment, are not measured by GDP.