宏观经济学的数据.pptVIP

1?CHAPTER2TheDataofMacroeconomicsMANKIWSMACROECONOMICSMODULESAPowerPoint?TutorialToAccompanyMACROECONOMICS,6th.ed.N.GregoryMankiw

GDP,CPI,andUemploymentGrossDomesticProduct(GDP)isthedollarvalueofallfinalgoodsandservicesproducedwithinaneconomyinagivenperiodoftime.Theconsumerpriceindex(CPI)measuresthelevelofprices.Theunemploymentratetellsusthefractionofworkerswhoareunemployed.0102

3TwowaysofviewingGDPTotalincomeofeveryoneintheeconomyTotalexpenditureontheeconomy’soutputofgoodsandservicesHouseholdsFirmsIncome$LaborGoodsExpenditure$Fortheeconomyasawhole,incomemustequalexpenditure.GDPmeasurestheflowofdollarsintheeconomy.Income,Expenditure,AndtheCircularFlow

RulesforComputingGDP1)Tocomputethetotalvalueofdifferentgoodsandservices,thenationalincomeaccountsusemarketprices.Thus,if$0.50$1.00GDP=(Priceofapples?Quantityofapples) +(Priceoforanges?Quantityoforanges)=($0.50?4)+($1.00?3)GDP=$5.002)UsedgoodsarenotincludedinthecalculationofGDP.3)Thetreatmentofinventoriesdependsonifthegoodsarestoredoriftheyspoil.Ifthegoodsarestored,theirvalueisincludedinGDP.Iftheyspoil,GDPremainsunchanged.Whenthegoodsarefinallysoldoutofinventory,theyareconsideredusedgoods(andarenotcounted).

MoreRulesforComputingGDP4)IntermediategoodsarenotcountedinGDP–onlythevalueoffinalgoods.Reason:thevalueofintermediategoodsisalreadyincludedinthemarketprice.Valueaddedofafirmequalsthevalueofthefirm’soutputlessthevalueoftheintermediategoodsthefirmpurchases.5)Somegoodsarenotsoldinthemarketplaceandthereforedon’thavemarketprices.Wemustusetheirimputedvalueasanestimateoftheirvalue.Forexample,homeownershipandgovernmentservices.

6Realvs.NominalGDPThevalueoffinalgoodsandservicesmeasuredatcurrentpricesiscallednominal