曼昆经济学原理宏观经济学分册英文原版.pptx
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1、 2007 Thomson South-Western 2007 Thomson South-WesternMeasuring a Nations IncomeMicroeconomics is the study of how individual households and firms make decisions and how they interact with one another in markets.Macroeconomics is the study of the economy as a whole.Its goal is to explain the economi
2、c changes that affect many households,firms,and markets at once.2007 Thomson South-WesternMeasuring a Nations IncomeMacroeconomics answers questions like the following:Why is average income high in some countries and low in others?Why do prices rise rapidly in some time periods while they are more s
3、table in others?Why do production and employment expand in some years and contract in others?2007 Thomson South-WesternTHE ECONOMYS INCOME AND EXPENDITUREWhen judging whether the economy is doing well or poorly,it is natural to look at the total income that everyone in the economy is earning.2007 Th
4、omson South-WesternTHE ECONOMYS INCOME AND EXPENDITUREFor an economy as a whole,income must equal expenditure because:Every transaction has a buyer and a seller.Every dollar of spending by some buyer is a dollar of income for some seller.2007 Thomson South-WesternFigure 1 The Circular-Flow DiagramSp
5、endingGoods andservicesboughtRevenueGoodsand servicessoldLabor,land,and capitalIncome=Flow of inputs and outputs=Flow of dollarsFactors ofproductionWages,rent,and profit FIRMSProduce and sellgoods and servicesHire and use factorsof production Buy and consumegoods and servicesOwn and sell factorsof p
6、roductionHOUSEHOLDS Households sellFirms buyMARKETSFORFACTORS OF PRODUCTION Firms sellHouseholds buyMARKETSFORGOODS AND SERVICES 2007 Thomson South-WesternTHE MEASUREMENT OF GROSS DOMESTIC PRODUCTGross domestic product(GDP)is a measure of the income and expenditures of an economy.GDP is the total ma
7、rket value of all final goods and services produced within a country in a given period of time.2007 Thomson South-WesternTHE MEASUREMENT OF GROSS DOMESTIC PRODUCTThe equality of income and expenditure can be illustrated with the circular-flow diagram.2007 Thomson South-WesternTHE MEASUREMENT OF GROS
8、S DOMESTIC PRODUCT“GDP is the Market Value.”Output is valued at market prices.“.Of All.”Includes all items produced in the economy and legally sold in markets“.Final.”It records only the value of final goods,not intermediate goods(the value is counted only once).“.Goods and Services.”It includes bot
9、h tangible goods(food,clothing,cars)and intangible services(haircuts,housecleaning,doctor visits).2007 Thomson South-WesternTHE MEASUREMENT OF GROSS DOMESTIC PRODUCT“.Produced.”It includes goods and services currently produced,not transactions involving goods produced in the past.“.Within a Country.
10、”It measures the value of production within the geographic confines of a country.“.In a Given Period of Time.”It measures the value of production that takes place within a specific interval of time,usually a year or a quarter(three months).2007 Thomson South-WesternTHE COMPONENTS OF GDP GDP includes
11、 all items produced in the economy and sold legally in markets.What Is Not Counted in GDP?GDP excludes most items that are produced and consumed at home and that never enter the marketplace.It excludes items produced and sold illicitly,such as illegal drugs.2007 Thomson South-WesternTHE COMPONENTS O
12、F GDPGDP(Y)is the sum of the following:Consumption(C)Investment(I)Government Purchases(G)Net Exports(NX)Y=C+I+G+NX 2007 Thomson South-WesternTHE COMPONENTS OF GDPConsumption(C):The spending by households on goods and services,with the exception of purchases of new housing.Investment(I):The spending
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