曼昆宏观经济学第七版讲义(2).pptVIP

* * This is why economists often use the terms income, output, expenditure, and GDP interchangeably. * Emphasize that the difference b/w GDP and GNP boils down to two things: location of the economic activity, and ownership (domestic vs. foreign) of the factors of production. From the perspective of the U.S., factor payments from abroad includes things like wages earned by U.S. citizens working abroad profits earned by U.S.-owned businesses located abroad income (interest, dividends, rent, etc) generated from the foreign assets owned by U.S. citizens Factor payments to abroad includes