曼昆宏观英语ppt课件23章.pptx

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曼昆宏观英语ppt课件23章.pptx

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N. GREGORY MANKIWECON2010Lecture123PRINCIPLES OFFOURTHEDITIONMeasuringaNation’sIncome

Inthischapter,lookfortheanswerstothesequestions:1CHAPTER23MEASURINGANATION’SINCOMEWhatisGrossDomesticProduct(GDP)?HowisGDPrelatedtoanation’stotalincomeandspending?WhatarethecomponentsofGDP?HowisGDPcorrectedforinflation?DoesGDPmeasuresociety’swell-being?

2CHAPTER23MEASURINGANATION’SINCOMEMicrovs.MacroMicroeconomics:Thestudyofhowindividualhouseholdsandfirmsmakedecisions,interactwithoneanotherinmarkets.Macroeconomics:Thestudyoftheeconomyasawhole.Webeginourstudyofmacroeconomicswiththecountry’stotalincomeandexpenditure.

IncomeandExpenditureGrossDomesticProduct(GDP)measurestotalincomeofeveryoneintheeconomy.GDPalsomeasurestotalexpenditureontheeconomy’soutputofgs.Fortheeconomyasawhole,incomeequalsexpenditure,becauseeverydollarofexpenditurebyabuyerisadollarofincomefortheseller.3CHAPTER23MEASURINGANATION’SINCOME

4CHAPTER23MEASURINGANATION’SINCOMETheCircular-FlowDiagramisasimpledepictionofthemacroeconomy.illustratesGDPasspending,revenue,factorpayments,andincome.First,somepreliminaries:Factorsofproductionareinputslikelabor,land,capital,andnaturalresources.Factorpaymentsarepaymentstothefactorsofproduction. (e.g.,wages,rent)

FIGURE1: TheCircular-FlowDiagram5CHAPTER23MEASURINGANATION’SINCOMEHouseholds:ownthefactorsofproduction,sell/rentthemtofirmsforincomebuyandconsumegsHouseholdsFirms

FIGURE1: TheCircular-FlowDiagram6CHAPTER23MEASURINGANATION’SINCOMEHouseholdsFirmsFirms:buy/hirefactorsofproduction,usethemtoproducegssellgs

FIGURE1: TheCircular-FlowDiagramMarketsforFactorsofProductionHouseholdsFirmsIncome(=GDP)Wages,rent,profit(=GDP)FactorsofproductionLabor,land,capitalSpending(=GDP)GSboughtGSsoldRevenue(=GDP)MarketsforGoodsServ