环游世界图美国2 of宏观济学5e ch5e.pptx

环游世界图美国2 of宏观济学5e ch5e.pptx

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2of18ATouroftheWorldTheUnitedStatesFigure1-1

3of181-1TheUnitedStatesWhenmacroeconomistsstudyaneconomy,theyfirstlookatthreevariables:OutputTheunemploymentrateTheinflationrate

4of181-1TheUnitedStatesTable1-1Growth,Unemployment,andInflationintheUnitedStatesSince2006(average)1996–2006(average)200620072008Outputgrowthrate3.1%3.4%3.3%2.1%2.5%Unemploymentrate6.25.0Inflationrate4.02.0Outputgrowthrate:annualrateofgrowthofoutput(GDP).Unemploymentrate:averageovertheyear.Inflationrate:annualrateofchangeofthepricelevel(GDPdeflator).Theperiod1996-2006wasoneofthebestdecadesinrecentmemory:Theaveragerateofgrowthwas3.4%peryear.Theaverageunemploymentratewas5.0%.Theaverageinflationratewas2.0%.

5of18Theaveragerateofgrowthofoutputperhourappearstohaveincreasedagainsincethemid-1990s.1-1TheUnitedStatesRateofGrowthofOutputperHourintheUnitedStatesSince1960.Figure1-2HastheUnitedStatesEnteredaNewEconomy?

6of181-1TheUnitedStatesShouldWeWorryAbouttheU.S.TradeDeficit?Thetradedeficitincreasedfromabout1%ofoutputin1990toabout6%ofoutputin2006.TheU.S.TradeDeficitSince1990Figure1-3

7of181-2TheEuropeanUnionTheEuropeanUnionFigure1-4

8of18Table1-2Growth,Unemployment,andInflationintheFiveMajorEuropeanCountriesSince2006(average)1996–2006(average)200620072008Outputgrowthrate2.3%2.0%2.7%2.6%2.2%Unemploymentrate7.06.7Inflationrate1.82.2Outputgrowthrate:annualrateofgrowthofoutput(GDP).Unemploymentrate:averageovertheyear.Inflationrate:annualrateofchangeofthepricelevel(GDPdeflator).1-2TheEuropeanUnion

9of18TheeconomicperformanceofthefivecountriesinTable1-2hasbeenfarlessimpressivethanthatoftheUnitedStatesoverthesameperiod:Averageannualoutputgrowthfrom1996to2006wasonly2.0%.Low-outputgrowthwaspaniedbypersistent

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