ch12 National Income Accounting and the Balance of Payments 克鲁格曼国际经济学第六版英文教学课件.pptVIP

Chapter Organization Introduction The National Income Accounts National Income Accounting for an Open Economy The Balance of Payment Accounts Summary Introduction Microeconomics It studies the effective use of scarce resources from the perspective of individual firms and consumers. Macroeconomics It studies how economies’ overall levels of employment, production, and growth are determined. It emphasizes four aspects of economic life: Unemployment Saving Trade imbalances Money and the price level Introduction The national income accounts and the balance of payments accounts are essential tools for studying the macroeconomics of open, interdependent economies. National income accounting Records all the expenditures that contribute to a country’s income and output Balance of payments accounting Helps us keep track of both changes in a country’s indebtedness to foreigners and the fortunes of its export- and import-competing industries The National Income Accounts Gross national product (GNP) The value of all final goods and services produced by a country’s factors of production and sold on the market in a given time period It is the basic measure of a country’s output. The National Income Accounts GNP is calculated by adding up the market value of all expenditures on final output: Consumption The amount consumed by private domestic residents Investment The amount put aside by private firms to build new plant and equipment for future production Government purchases The amount used by the government Current account balance The amount of net exports of goods and services to foreigners The National Income Accounts The National Income Accounts National Product and National Income National Income It is earned over a period by its factors of production. It must equal the GNP a country generates over some period of time. One person’s spending is another’s income (i.e., total spending must equal total income). The National Income Accounts Capital Depreciation, Internatio