宏观经济学 第2章 宏观经济学的数据.pptVIP

* * Be sure to point out that the data are the percentage changes, not the levels, of the CPI and the GDP deflator. In 1980, the CPI increased much faster than the GDP deflator. Ask students if they can offer a possible explanation. In 1955, the CPI showed slightly negative inflation, while the GDP deflator showed positive inflation. Ask students for possible explanations. (For possible answers, just refer to previous slide.) * * * * * If you teach the stocks vs. flows concepts, this is a good example of the difference. * * Transfer payments are included in “government outlays,” but not in government spending. People who receive transfer payments use these funds to pay for their consumption. Thus, we avoid double-counting by excluding transfer payments from G. * source: FRED Database, The Federal Reserve Bank of St. Louis, /fred/ Before showing the data graph, the following explanation might be helpful: Remember, GDP is the value of spending on our country’s output of goods services. Exports represent foreign spending on our country’s output, so we include exports. Imports represent the portion of domestic spending (C, I, and G) that goes to foreign goods and services, so we subtract off imports. NX, therefore, equals net spending by the foreign sector on domestically produced goods services. * A few slides ago, we defined GDP as the total expenditure on the economy’s output of goods and services (as well as total income). We can also define GDP as (the value of) aggregate output, not just spending on output. An identity is an equation that always holds because of the way the variables are defined. * source: Bureau of Economic Analysis, U.S. Department of Commerce * source: Bureau of Economic Analysis, U.S. Department of Commerce * source: Bureau of Economic Analysis, U.S. Department of Commerce * If you do not wish to pose this as a question, you can “hide” this slide and “unhide” the next one, which simply