宋利芳《经济学专业英语教程（精编版）（第二版）》Unit 5.pptVIP

Unit 5Text: Gross Domestic Product（国内生产总值） 1. Key words2. Calculating gross domestic product3. GDP and GNP4. GDP and NDP5. Real and nominal GDP6. Growth and GDP7. Problems of GDP measurement8. Questions GDPGNPNDPfinal goodsper capita GDPintermediate goodsdouble countingvalue addedmarket priceindirect taxesfactor costnational income accountsnominal GDPlabor forcefactor of productionenvironmental pollution and degradationadjusted GNP series1. Key words 2.1 Definition of gross domestic product2.2 Subtleties in the calculation of GDP2. Calculating gross domestic product Gross Domestic Product (GDP) is the value of all final goods and services produced in the country within a given period. The output of each of these is valued at its market price, and values are added together to get GDP.2.1 Definition of gross domestic product 2.2.1 Final goods and value added2.2.2 Current output2.2.3 Market prices2.2 Subtleties in the calculation of GDP GDP is the value of final goods and services produced. The insistence on final goods and services is simply to make sure that we do not double-count.In practice, double counting is avoided by working with value added. At each state of the manufacture of a good, only the value added to the good at that stage of manufacture is counted as part of GDP.2.2.1 Final goods and value added GDP consists of the value of output currently produced.2.2.2 Current output GDP values goods at market prices.Valuation at market prices is a principle that is not uniformly applied, because there are some components of GDP that are difficult to value. There2.2.3 Market prices GNP is the value of final goods and services produced by domestically owned factors of production within a given period. The difference between GDP and GNP arises because some of the output produced within a given country is made by factors of production owned abroad.The difference between GDP and GNP corresponds to the net income earned by foreigners. When GDP exceeds GNP,