宏观经济学CHAP02宏观经济学数据.pptVIP

* This slide and the next correspond to new material in the 6th edition on the Establishment Survey. See pp.38-39. The material on Okun’s Law, which formerly appeared at this point in Chapter 2, has been moved to Chapter 9, section 9-1. * Source: /fred2/ This graph shows the percentage change in total U.S. non-farm employment from 12 months earlier (based on monthly, seasonally-adjusted data from the Bureau of Labor Statistics), from two surveys: The household survey, which is used to generate the widely-known unemployment rate data, and the establishment survey. Pp.38-39 discusses the establishment survey in detail and contrasts it with the household survey to help explain the divergences. * * * This issue is subjective, and the question is intended to get students to think a little deeper about the difference between GNP and GDP. Of course, there is no single correct answer. Some students offer this response: It’s better to have GNP GDP, because it means our nation’s income is greater than the value of what we are producing domestically. If, instead, GDP GNP, then a portion of the income generated in our country is going to people in other countries, so there’s less income left over for us to enjoy. * How to interpret the numbers in this table: In Canada, GNP is 1.9% smaller than GDP. This sounds like a tiny number, but it means that about 2% of all the income generated in Canada is taken away and paid to foreigners. In Angola, about 14% of the value of domestic production is paid to foreigners. Kuwait’s GNP is 9.5% bigger than its GDP. This means that the income earned by the citizens of Kuwait is 9.5% larger than the value of production occurring within Kuwait’s borders. Teaching suggestion: Point out a few countries with positive numbers. Ask your students to take a moment to think of possible reasons why GNP might exceed GDP in a country, and write them down. Point out a few countries with negative numbers. Ask your students