现代经济学宏观部分课件经济活动的衡量第二章(448KB).pptVIP

* The “net” in “net exports” refers to the fact that we are subtracting imports from exports. This subtraction is important, because imports are also counted in the other components of GDP; failing to subtract them would cause GDP to measure not just the value of goods produced domestically, but also goods produced abroad and imported. For example, if a consumer spends $100 on a DVD player imported from Japan, that $100 counts in “consumption,” even though the player was not produced domestically. We subtract off that $100 import so that GDP ends up including the value of only domestically-produced goods and services. * Notes: 1. The text in the first bullet point is NOT the formal textbook definition of GDP. The formal definition is given and discussed in detail immediately after the Circular-Flow Diagram. 2. “gs” = goods and services A good way to judge how well someone is doing economically is to look at his or her income. We can judge how well a country is doing economically by looking at the total income that everyone in the economy is earning. GDP is our measure of the economy’s total income, often called “national income.” GDP also measures total expenditure on the goods and services produced in the economy, and the value of the economy’s output (production) of goods and services. Thus, GDP is also referred to as “output.” The equality of income and expenditure is an accounting identity (not, for example, an equilibrium condition): it must be true that income equals expenditure. * Much of what Robert Kennedy said about GDP is correct. * Then why do we care about GDP? Because a large GDP does in fact help us to lead a good life. GDP does not measure the health of our children, but nations with larger GDP can afford better health care for their children. GDP does not measure the beauty of our poetry, but nations with larger GDP can afford to teach more of their citizens to read and enjoy poetry. GDP does not take account of ou