曼昆宏观经济学chapter23
宏观经济学(初级 第23章)
导言
什么是宏观经济学
宏观经济学内容分类及研究的主要问题
内容分类
宏观经济理论：包括国民收入决定理论、消费理论、投资理论、 货币理论、失业与通货膨胀理论、经济周期理论、经济增长理论、开 放经济理论等。
宏观经济政策：包括经济政策目标、经济政策工具、经济政策机制、 经济政策效应与运用。
宏观经济计量模型：用于理论验证、经济预测、政策制定，以及政 策效应检验。
4.所有的：新增的产品和劳务；存量GDP的衍生服务（如存 量住房服务的市场价值，国外更适合，因为租房住；写字楼GDP）
能够统计的有限的“所有”。家务劳动、黑市交易、非法交 易等在实际中都没有办法统计进入GDP。
家庭生产中雇主跟雇员的婚姻：减少GDP。经济活动从市场 交易变成家务劳动。
2014-5-28
2014-5-28
税收
拉弗曲线
税率
导言
什么是宏观经济学
宏观经济学主要流派及观点
5. 理性预期学派
代表人物：卢卡斯、萨金特、华莱士、巴罗、泰勒和普雷斯科特等。 理论特征：在引入理性预期假说的基础上，全面恢复新古典经济学的 传统反对凯恩斯主义的宏观经济理论和政策主张。 基本理论观点：理性预期假说：理性预期是有效利用一切信息而进行 的预期；自然率假说：任何一个社会都存在一个自然失业率，长期而言， 经济总是趋向于自然失业率，尽管短期内，经济政策能够使得实际失业率 不同于自然失业率；李嘉图等价定理：举债与征税等价。 政策主张： 宏观经济政策无效论、政策目标单一论、信誉重于规则
导言
什么是宏观经济学
现代经济学两大分支之一
经济学的两个分支：微观经济学和宏观经济学。
微观经济学（Microeconomics）(“微观”是希腊文 “ μικρο ”的意译，原意是“小")又称个体经济学，小经济学， 主要以单个经济单位（单个生产者、单个消费者、单个市场经 济活动）作为研究对象的一门学科。价格分析是微观经济学的 核心，故微观经济学又被称为价格理论。
曼昆经济学原理宏观部分二十三章
Households
16
The Circular-Flow Diagram
Revenue (=GDP)
G&S sold
Markets for Goods & Services
Spending (=GDP) G&S bought
Firms
Factors of production Wages, rent, profit (=GDP)
example:
Inflation and unemployment in election years
The Science of Macroeconomics
Copyright © 2004 South-Western
CHAPTER 1
slide 11
Outline of this book
Copyright © 2004 South-Western
14
The Circular-Flow Diagram
• a simple depiction of the macroeconomy • illustrates GDP as spending, revenue, factor payments, and income • Preliminaries:
CHAPTER 1
The Science of Macroeconomics
Copyright © 2004 South-Western
Important issues in macroeconomics
Macroeconomics, the study of the economy as a whole, addresses many topical issues:
曼昆经济学chapter23
• ― . . . Within a Country . . .‖
– It measures the value of production within the geographic confines of a country.
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
THE ECONOMY’S INCOME AND EXPENDITURE
• For 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.
Discussion
• Which contributes more to GDP——the production of an economy car or the production of a luxury car? Why? • A farmer sells wheat to a baker for $2. The baker uses the wheat to make bread, which is sold for $3. what is the total contribution of these transaction to GDP?
THE COMPONENTS OF GDP
• GDP (Y) is the sum of the following:
– Consumption (C) – Investment (I) – Government Purchases (G) – Net Exports (NX)
曼昆《经济学原理》（宏观）第五版测试题库（23）
曼昆《经济学原理》（宏观）第五版测试题库（23）Chapter 23Measuring a Nation's IncomeTRUE/FALSE1. In years of economic contraction, firms throughout the economy increase their production of goods and services, employment rises, and jobs are easy to find.ANS: F DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Economic expansion MSC: Definitional2. Macroeconomic statistics include GDP, the inflation rate, the unemployment rate, retail sales, and the trade deficit.ANS: T DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Macroeconomics MSC: Definitional3. Macroeconomic statistics tell us about a particular household, firm, or market.ANS: F DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Macroeconomics MSC: Definitional4. Macroeconomics is the study of the economy as a whole.ANS: T DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Macroeconomics MSC: Definitional5. The goal of macroeconomics is to explain the economic changes that affect many households, firms, and markets simultaneously.ANS: T DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Macroeconomics MSC: Definitional6. Microeconomics and macroeconomics are closely linked.ANS: T DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Microeconomics | Macroeconomics MSC: Definitional7. The basic tools of supply and demand are as central to macroeconomic analysis as they are to microeconomic analysis.TOP: Demand | Supply MSC: Definitional8. GDP is the most closely watched economic statistic because it is thought to be the best single measure of asociety’s economic well-being.ANS: T DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Definitional9. GDP can measure either the total income of everyone in the economy or the total expenditure on theeconomy’s output of goods and services, but GDP cannot measure both at the same time.ANS: F DIF: 2 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Interpretive10. For an economy as a whole, income must exceed expenditure.ANS: F DIF: 1 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economics11. An economy’s income is the same as its expenditure because every transaction has a buyer and a seller. ANS: T DIF: 1 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Income | Expenditure MSC: Definitional12. GDP is the market value of all final goods and services produced by a country’s citizens in a given period oftime.ANS: F DIF: 1 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Definitional13. GDP adds together many different kinds of products into a single measure of the value of economic activity byusing market prices.ANS: T DIF: 1 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Definitional14. U.S. GDP includes the market value of rental housing, but not the market value of owner-occupied housing. ANS: F DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Interpretive15. U.S. GDP excludes the production of most illegal goods.ANS: T DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economics16. U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance.ANS: F DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Applicative17. GDP includes only the value of final goods because the value of intermediate goods is already included in the prices of the final goods.ANS: T DIF: 1 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP | Intermediate goods MSC: Definitional18. Additions to inventory subtract from GDP, and when the goods in inventory are later used or sold, the reductions in inventory add to GDP.ANS: F DIF: 1 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP | Inventory MSC: Definitional19. While GDP includes tangible goods such as books and bug spray, it excludes intangible services such as the services provided by teachers and exterminators.ANS: F DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Applicative20. At a rummage sale, you buy two old books and an old rocking chair; your spending on these items is not included in current GDP.ANS: T DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Applicative21. When an American doctor opens a practice in Bermuda, his production there is part of U.S. GDP.ANS: F DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economics1560 Chapter 23 /Measuring a Nation's Income22. If the U.S. government reports that GDP in the third quarter was $12 trillion at an annual rate, then the amount of income and expenditure during quarter three was $3 trillion.ANS: T DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Applicativedifferent stories about overall economic conditions.ANS: F DIF: 2 REF: 23-2NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP | Income MSC: Interpretive24. Expenditures by households on education are included in the consumption component of GDP.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Consumption MSC: Interpretive25. Most goods whose purchases are included in the investment component of GDP are used to produce other goods.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Investment MSC: Interpretive26. New home construction is included in the consumption component of GDP.ANS: F DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Investment MSC: Interpretive27. Changes in inventory are included in the investment component of GDP.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Investment MSC: Interpretive28. The investment component of GDP refers to financial investment in stocks and bonds.ANS: F DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Investment MSC: Interpretive29. The government purchases component of GDP includes salaries paid to soldiers but not Social Security benefits paid to the elderly.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Government purchases MSC: Interpretive30. If the value of an economy’s imports exceeds the value of that economy’s exports, then net exports is a negative number.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economics31. If someone in the United States buys a surfboard produced in Australia, then that purchase is included in both the consumption component of U.S. GDP and the net exports component of U.S. GDP.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Consumption | Net exports MSC: Applicative32. If consumption is $4000, exports are $300, government purchases are $1000, imports are $400, and investment is $800, then GDP is $5700.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economics33. If exports are $500, GDP is $8000, government purchases are $1200, imports are $700, and investment is $800, then consumption is $6200.ANS: T DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Consumption MSC: Applicative34. If consumption is $1800, GDP is $4300, government purchases are $1000, imports are $700, and investment i s $1200, then exports are $300.ANS: F DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Exports MSC: Applicative35. U.S. GDP was almost $14 billion in 2007.ANS: F DIF: 1 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Definitional36. In 2007, government purchases was the largest component of U.S. GDP.ANS: F DIF: 2 REF: 23-3NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Interpretive37. If total spending rises from one year to the next, then the economy must be producing a larger output of goods and services.ANS: F DIF: 2 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Interpretive38. An increase in nominal U.S. GDP necessarily implies that the United States is producing a larger output of goods and services.TOP: Nominal GDP MSC: Interpretive39. Nominal GDP uses constant base-year prices to place a value on the economy’s production of goods a nd services, while real GDP uses current prices to place a value on the economy’s production of goods and services.ANS: F DIF: 1 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Nominal GDP | Real GDP MSC: Definitional40. Real GDP evaluates current production using prices that are fixed at past levels and therefore shows how the economy’s overall production of goods and services changes over time.ANS: T DIF: 1 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Real GDP MSC: Definitional41. The term real GDP refers to a country’s actual GDP as opposed to its estimated GDP.ANS: F DIF: 2 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Real GDP MSC: Interpretive42. Changes in real GDP reflect only changes in the amounts being produced.ANS: T DIF: 1 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Real GDP MSC: Definitional43. Real GDP is a better gauge of economic well-being than is nominal GDP.ANS: T DIF: 1 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economics1562 Chapter 23 /Measuring a Nation's Income44. Changes in the GDP deflator reflect only changes in the prices of goods and services.ANS: T DIF: 2 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP deflator MSC: Interpretive45. If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125.ANS: T DIF: 2 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP deflator MSC: Applicative46. If nominal GDP is $12,000 and the GDP deflator is 80, then real GDP is $15,000.TOP: Real GDP MSC: Applicative47. Economists use the term inflation to describe a situation in whic h the economy’s overall production level isrising.ANS: F DIF: 1 REF: 23-4NAT: Analytic LOC: Unemployment and inflation TOP: InflationMSC: Definitional48. If the GDP deflator in 2006 was 160 and the GDP deflator in 2007 was 180, then the inflation rate in 2007 was12.5%.ANS: T DIF: 2 REF: 23-4NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative49. If the GDP deflator in 2004 was 150 and the GDP deflator in 2005 was 120, then the inflation rate in 2005 was25%.ANS: F DIF: 2 REF: 23-4NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative50. The GDP deflator can be used to take inflation out of nominal GDP.ANS: T DIF: 1 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP deflator MSC: Definitional51. In 2004, the level of U.S. real GDP was close to four times its 1965 l evel.ANS: T DIF: 1 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Real GDP MSC: Definitional52. The output of goods and services produced in the United States has grown on average 3.2 percent per year. ANS: T DIF: 1 REF: 23-4NAT: Analytic LOC: Productivity and growthTOP: GrowthMSC: Definitional53. Periods during which real GDP rises are called recessions.ANS: F DIF: 1 REF: 23-4NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Recessions MSC: Definitional54. Recessions are associated with lower incomes, rising unemployment, and falling profits.TOP: Recessions MSC: Definitional55. If real GDP is higher in one country than in another, then we can be sure that the standard of living is higher inthe country with the higher real GDP.ANS: F DIF: 2 REF: 23-5NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Real GDP | Standard of living MSC: Interpretive56. Real GDP per person tells us the income and expenditure of the average person in the economy.ANS: T DIF: 1 REF: 23-5NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Real GDP per person MSC: Definitional57. GDP does not directly measure those things that make life worthwhile, but it does measure our ability toobtain many of the inputs into a worthwhile life.ANS: T DIF: 1 REF: 23-5NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Definitional58. GDP does not make adjustments for leisure time, environmental quality, or volunteer work.ANS: T DIF: 2 REF: 23-5NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Interpretive59. Other things equal, in countries with higher levels of real GDP per person, life expectancy and literacy ratesare higher than in countries with lower levels of real GDP per person.ANS: T DIF: 2 REF: 23-5NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: InterpretiveSHORT ANSWER1. GDP is defined as the market value of all final goods and services produced within a country in a given periodof time. In spite of this definition, some production is left out of GDP. Explain why some final goods and services are not included.ANS:GDP excludes some products because they are so difficult to measure. These products include services performed by individuals for themselves and their families, and most goods that are produced and consumed at home and, therefore, never enter the marketplace. In addition, illegal products are not included in GDP even if they can be measured because, by society's definition, they are bads, not goods.DIF: 2 REF: 23-2 NAT: AnalyticLOC: The study of economics and definitions of economics TOP: GDPMSC: Interpretiveincluded directly as part of GDP, but the value of intermediate goods produced and not sold is includeddirectly as part of GDP.ANS:Intermediate goods produced and sold during the year are not included separately as part of GDP because the value of those goods is included in the value of the final goods produced from them. If the intermediate good is produced but not sold during the year, its value is included as inventory investment for the year in which it was produced. If inventory investment was not included as part of GDP, true production would be underestimated for the year the intermediate good went into inventory, and overestimated for the year the intermediate good is used or sold.DIF: 2 REF: 23-2 NAT: AnalyticLOC: The study of economics and definitions of economics TOP: GDP | Intermediate goods MSC: Interpretive1564 Chapter 23 /Measuring a Nation's Income3. Since it is counted as investment, why doesn't the purchase of earthmoving equipment from China by a U.S.corporation increase U.S. GDP?ANS:The purchase of foreign equipment is counted as investment, but GDP measures only the value of production within the geographic borders of the United States. In order to avoid including the value of the imported equipment, imports are subtracted from GDP. Hence, the value of the equipment in investment is canceled by subtracting its value as an import.DIF: 2 REF: 23-3 NAT: AnalyticLOC: The study of economics and definitions of economics TOP: GDP | Investment | Imports MSC: Applicative4. Identify the immediate effect of each of the following events on U.S. GDP and its components.a. James receives a Social Security check.b. John buys an Italian sports car.c. Henry buys domestically produced tools for his construction company.ANS:a. Since this is a transfer payment, there is no change to GDP or to any of its components.b. Consumption and imports will rise and cancel each other out so that there is no change in U.S. G DP.c. This increases the investment component of GDP and so increases GDP.DIF: 2 REF: 23-3 NAT: AnalyticLOC: The study of economics and definitions of economicsTOP: GDP | Transfer payments | Net exports | Investment MSC: Applicative5. Between 1929 and 1933, NNP measured in current prices fell from $96 billion to $48 billion. Over the sameperiod, the relevant price index fell from 100 to 75.a. What was the percentage decline in nominal NNP from 1929 to1933?b. What was the percentage decline in real NNP from 1929 to 1933? Show your work.ANS:a. NNP measured in current prices is nominal NNP. Nominal NNP fell from $96 billion to $48 billion, adecline of 50 percent.($96 b/100) 100 = $96 b. Real NNP in 1933 was ($48 b/75) 100 = $64 b. Real NNP fell from$96 billion to $64 billion, a decline of 33 percent.DIF: 2 REF: 23-4 NAT: AnalyticLOC: The study of economics and definitions of economics TOP: Nominal NNP | Real NNP MSC: Applicative6. You find that your paycheck for the year is higher this year than last. Does that mean that your real incomehas increased? Explain carefully.ANS:Real income is nominal income adjusted for general increase in prices. I f my paycheck is higher this year than last, my nominal income has increased. Whether my real income has increased or not depends on what has happened since last year to the level of prices of things I buy with my income. If the percentage increase in prices is less than the percentage increase in my nominal income, then my real income h as increased. Otherwise, my real income has not increased.DIF: 2 REF: 23-4 NAT: AnalyticLOC: The study of economics and definitions of economicsTOP: Nominal income | Real income MSC: Interpretive7. U.S. real GDP is substantially higher today than it was 60 years ago. What does this tell us, and what does itnot tell us, about the well-being of U.S. residents?ANS:Since this is in real terms, it tells us that the U.S. is able to make a lot more stuff than in the past. Some of the increase in real GDP is probably due to an increase in population, so we could say more if we knew what had happened to real GDP per person. Supposing that there was also an increase in real GDP per person, we can say that the standard of living has risen. Material things are an important part of well-being. Having sufficient amounts of things such as food, shelter, and clothing are fundamental to well-being. Other things such as security, a safe environment, access to safe water, access to medical care, justice, and freedom also matter. However, many of these things are more easily obtained by being able to produce more using fewer resources. Countries with higher real GDP per person tend to have longer life spans, less discrimination towards women, less child labor, and a higher rate of literacy.DIF: 2 REF: 23-5 NAT: AnalyticLOC: The study of economics and definitions of economicsTOP: Real GDP | Economic welfare MSC: InterpretiveSec00 - Measuring a Nation's IncomeMULTIPLE CHOICE1. Statistics that are of particular interest to macroeconomistsa. are largely ignored by the media.b. are widely reported by the media.c. include the equilibrium prices of individual goods and services.d. tell us about a particular household, firm, or market.ANS: B DIF: 2 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Macroeconomics MSC: Interpretiveb. the interaction between households and firms.c. economy-wide phenomena.d. regulations on firms and unions.ANS: C DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Macroeconomics MSC: Definitional3. Which of the following newspaper headlines is more closely related to what microeconomists study than to what macroeconomists study?a. Unemployment rate rises from 5 percent to 5.5 percent.b. Real GDP grows by 3.1 percent in the third quarter.c. Retail sales at stores show large gains.d. The price of oranges rises after an early frost.ANS: D DIF: 2 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Microeconomics | Macroeconomics MSC: Interpretive4. Which of the following questions is more likely to be studied by a microeconomist than a macroeconomist?a. Why do prices in general rise by more in some countries than in others?b. Why do wages differ across industries?c. Why do production and income increase in some periods and not in others?d. How rapidly is GDP currently increasing?ANS: B DIF: 2 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Microeconomics | Macroeconomics MSC: Interpretive1566 Chapter 23 /Measuring a Nation's Income5. Which of the following topics are more likely to be studied by a macroeconomist than by a microeconomist?a. the effect of taxes on the prices of airline tickets, the profitability of automobile-manufacturingfirms, and employment trends in the food-service industryb. the price of beef, wage differences between genders, and antitrust lawsc. how consumers maximize utility, and how prices are established in markets for agriculturalproductsd. the percentage of the labor force that is out of work, and differences in average income fromcountry to countryANS: D DIF: 2 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Microeconomics | Macroeconomics MSC: Interpretive6. We would expect a macroeconomist, as opposed to a microeconomist, to be particularly interested ina. explaining how economic changes affect prices of particular goods.b. devising policies to deal with market failures such as externalities and market power.c. devising policies to promote low inflation.d. identifying those markets that are competitive and those that are not competitive.ANS: C DIF: 2 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Microeconomics | Macroeconomics MSC: Interpretive7. Which of the following is not a question that macroeconomists address?a. Why is average income high in some countries while it is low in others?b. Why does the price of oil rise when war erupts in the Middle East?c. Why do production and employment expand in some years and contract in others?d. Why do prices rise rapidly in some periods of time while they are more stable in other periods? ANS: B DIF: 2 REF: 23-0 NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Macroeconomics MSC: Interpretive8. The basic tools of supply and demand area. useful only in the analysis of economic behavior in individual markets.b. useful in analyzing the overall economy, but not in analyzing individual markets.c. central to microeconomic analysis, but seldom used in macroeconomic analysis.d. central to macroeconomic analysis as well as to microeconomic analysis.ANS: D DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Demand | Supply MSC: Definitional9. Which of the following statistic is usually regarded as the best single measure of a society’s economic well-being?a. the unemployment rateb. the inflation ratec. gross domestic productd. the trade deficitANS: C DIF: 1 REF: 23-0NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: DefinitionalSec01 - Measuring a Nation's Income - The Economy's Income and Expenditure MULTIPLE CHOICE1. Which of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate of the economy’s labor force.b. Money continuously flows from households to government and then back to households, and GDP measures this flow of money.c. GDP is to a nation’s economy as household income is to a household.d. All of the above are correct.ANS: C DIF: 2 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Interpretive2. Gross domestic product measures two things at once:a. the total spending of everyone in the economy and the total saving of everyone in the economy.b. the total income of everyone in the economy and the total expenditure on the economy's output of goods and services.c. the value of the economy's output of goods and services for domestic citizens and the value of the economy's output of goods and services for the rest of the world.d. the total income of households in the economy and the total profit of firms in the economy. ANS: B DIF: 1 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: GDP MSC: Definitional3. For an economy as a whole,a. wages must equal profit.b. consumption must equal saving.c. income must equal expenditure.d. the number of buyers must equal the number of sellers.ANS: C DIF: 2 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Income | Expenditure MSC: Interpretive4. For an economy as a whole, income must equal expenditure becausea. the number of firms is equal to the number of households in an economy.b. international law requires that income equal expenditure.c. every dollar of spending by some buyer is a dollar of income for some seller.d. every dollar of saving by some consumer is a dollar of spending by some other consumer. ANS: C DIF: 2 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economicsTOP: Income | Expenditure MSC: Interpretive5. If an economy’s GDP rises, then it must be the case that the economy’sa. income rises and saving falls.b. income and saving both rise.c. income rises and expenditure falls.d. income and expenditure both rise.ANS: D DIF: 2 REF: 23-1NAT: Analytic LOC: The study of economics and definitions of economics TOP: Income | Expenditure MSC: Interpretive。
经济学原理 曼昆(宏观部分答案)
经济学原理曼昆(宏观部分答案)第八篇宏观经济学的数据第二十三章一国收入的衡量复习题 1 ．解释为什么一个经济的收入必定等于其支出? 答：对一个整体经济而言，收入必定等于支出。
因为每一次交易都有两方：买者和卖者。
一个买者的1 美元支出是另一个卖者的1 美元收入。
因此，交易对经济的收入和支出作出了相同的贡献。
由于GDP 既衡量总收入 135 又衡量总支出，因而无论作为总收入来衡量还是作为总支出来衡量，GDP 都相等. 2 ．生产一辆经济型轿车或生产一辆豪华型轿车，哪一个对GDP 的贡献更大？为什么? 答：生产一辆豪华型轿车对GDP 的贡献大。
因为GDP 是在某一既定时期一个国家内生产的所有最终物品与劳务的市场价值。
由于市场价格衡量人们愿意为各种不同物品支付的量，所以市场价格反映了这些物品的市场价值。
由于一辆豪华型轿车的市场价格高于一辆经济型轿车的市场价格，所以一辆豪华型轿车的市场价值高于一辆经济型轿车的市场价值，因而生产一辆豪华型轿车对GDP 的贡献更大.3 ．农民以2 美元的价格把小麦卖给面包师。
面包师用小麦制成面包，以3 美元的价格出售。
这些交易对 GDP 的贡献是多少呢? 答：对GDP 的贡献是3 美元。
GDP 只包括最终物品的价值，因为中间物品的价值已经包括在最终物品的价格中了.4 ．许多年以前，Peggy 为了收集唱片而花了500 美元。
今天她在旧货销售中把她收集的物品卖了100 美元.这种销售如何影响现期GDP? 答：现期GDP 只包括现期生产的物品与劳务，不包括涉及过去生产的东西的交易。
因而这种销售不影响现期GDP.5 ．列出GDP 的四个组成部分。
各举一个例子.答：GDP 等于消费(C)+投资(I)+政府购买(G)+净出口(NX) 消费是家庭用于物品与劳务的支出，如汤姆一家人在麦当劳吃午餐.投资是资本设备、存货、新住房和建筑物的购买，如通用汽车公司建立一个汽车厂.政府购买包括地方政府、州政府和联邦政府用于物品与劳务的支出，如海军购买了一艘潜艇.净出口等于外国人购买国内生产的物品(出口)减国内购买的外国物品(进口)。
宏观经济学笔记整理
宏观经济学笔记整理(曼昆三版)第23章一国收入的衡量（一）名词解释(1)微观经济学(microeconomics):研究家庭和企业如何做出决策，以及它们如何在市场上相互交易。
(2)宏观经济学(macroeconomics):研究整体经济现象，包括通货膨胀、失业和经济增长。
(3)国内生产总值(gross domestic product):在某一个既定时期内一个国家内生产的所有最终物品与劳务的市场价值。
(4)消费(consumption):家庭除购买新住房之外用于物品和劳务的支出。
(5)投资(investment):用于资本设备、存货和建筑物的支出，包括家庭用于购买新住房的支出。
(6)政府购买(government purchase):包括地方、州和联邦政府用于物品和劳务的支出。
(7)净出口(net export):外国人对国内生产的物品的支出(出口)减国内居民对外国物品的支出(进口)。
(8)名义GDP(nominal GDP):按现期价格评价的物品与劳务的生产。
(9)真实GDP(real GDP):按不变价格评价的物品与劳务的生产。
(10)G DP平减指数(GDP deflator):用名义GDP与真实GDP的比率乘以100计算的物价水平衡量指标。
(11)国民生产总值(gross national product):一国永久居民所赚到的总收入。
(12)国民生产净值(net national product):一国居民的总收入减折旧。
(13)国民收入(national income):一国居民在物品和劳务生产中赚到的总收入。
(14)个人收入(personal income):家庭和非公司制企业得到的收入。
(15)个人可支配收入(disposable personal income):家庭和非公司制企业在完成他们对政府的义务后剩下的收入。
第24章生活费用的衡量（一）名词解释(1)消费物价指数(consumer price index, CPI):普通消费者所购买的物品与劳务的总费用的衡量指标。
《经济学原理·曼昆·第三版》第23章
补充：GDP的测算法
现在通常采用三种测算法：生产法，收入法，支出法，
1.生产法：GDP=∑各产业部门的总产出－∑各产业部门的中间 消耗 2.收入法：GDP＝∑各产业部门劳动者报酬＋∑各产业部门固 定资产折旧＋∑各产业部门生产税净额＋∑各产业部门营业利 润 或：GDP=工资+利息+利润+租金+间接税+企业转移支付+折 旧+误差
chapter23measuringanationsincomechapter23measuringanationsincome考虑为什么一个经济的总收入等于其总支出考虑为什么一个经济的总收入等于其总支出了解如何定义和计算国内生产总值gdp了解实际考虑gdp了解如何定义和计算国内生产总值了解实际gdp考虑是不是经济福利良好的衡量指标gdpgdp与名义gdp是不是经济福利良好的衡量指标与名义gdpgdp之间的区别之间的区别说明为什么收入等于支出等于产量说明为什么收入等于支出等于产量解释gdp定义消费定义消费投资投资用基期和当年价格计算实际gdp列出许多中并不包括解释gdp定义中的关键词汇和短语政府购买和净出口政府购买和净出口定义中的关键词汇和短语用基期和当年价格计算实际列出许多gdpgdp和名义但能提高福利的活动但能提高福利的活动和名义gdpgdpgdp中并不包括prologueasyoumayrecallfromchapter2economicsisdividedintotwobranches
23.2.1 “GDP是市场价值…” “GDP Is the Market Value . . .”
曼昆《经济学原理(宏观经济学分册)》(第6版)核心讲义(第23章--一国收入的衡量)
曼昆《经济学原理(宏观经济学分册)》(第6版)核心讲义(第23章--一国收入的衡量)第8篇宏观经济学的数据第23章一国收入的衡量跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等内容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验，从前辈中获得的经验对初学者来说是宝贵的财富，这或许能帮你少走弯路，躲开一些陷阱。
以下内容为跨考网独家整理，如您还需更多考研资料，可选择经济学一对一在线咨询进行咨询。
一、经济的收入与支出1．微观经济学与宏观经济学（1）微观经济学（microeconomics）研究家庭和企业如何做出决策，以及它们如何在市场上相互交易。
（2）宏观经济学（macroeconomics）研究整体经济现象，包括通货膨胀、失业和经济增长。
2．国内生产总值（1）含义国内生产总值简称GDP，它衡量的是一国的总收入，被认为是衡量社会经济福利最好的一个指标。
（2）对经济的衡量GDP同时衡量两件事：经济中所有人的总收入和用于经济中物品与劳务产出的总支出。
对一个整体经济而言，收入必定等于支出。
因为每一次交易都有两方：买者和卖者。
某个买者的1美元支出正是某个卖者的1美元收入。
因此，交易对经济的收入和支出做出了相同的贡献。
用图23-1所示的循环流量图也可以说明收入必定等于支出。
假设所有物品与劳务由家庭购买，而且家庭支出了他们的全部收入，这些支出通过物品与劳务市场流动；企业用销售得到的收入来支付工人的工资、地主的租金和企业所有者的利润，这些收入通过生产要素市场流动。
货币不断地从家庭流向企业，然后又流回家庭。
GDP等于家庭在市场上为物品和劳务支付的总额，也等于企业在市场上为生产要素支付的工资、租金和利润的总额。
图23-1 循环流量图现实经济比图23-1所说明的经济要复杂得多。
家庭并没有支出其全部收入，也并没有购买经济中生产的全部物品与劳务。
曼昆经济学原理(宏观分册)第23章课后习题答案(英文版)
Quick Quizzes:1. Gross domestic product measures two things at once: (1) the total income of everyone in theeconomy and (2) the total expenditure on the economy’s output of final goods and services.It can measure both of these things at once because all expenditure in the economy ends up assomeone’s income.2. The production of a pound of caviar contributes more to GDP than the production of a pound ofhamburger because the contribution to GDP is measured by market value and the price of apound of caviar is much higher than the price of a pound of hamburger.3. The four components of expenditure are: (1) consumption; (2) investment; (3) governmentpurchases; and (4) net exports. The largest component is consumption, which accounts formore than 70 percent of total expenditure.4. Real GDP is the production of goods and services valued at constant prices. Nominal GDP isthe production of goods and services valued at current prices. Real GDP is a better measure ofeconomic well-being because changes in real GDP reflect changes in the amount of outputbeing produced. Thus, a rise in real GDP means people have produced more goods andservices, but a rise in nominal GDP could occur either because of increased production orbecause of higher prices.5. Although GDP is not a perfect measure of well-being, policymakers should care about itbecause a larger GDP means that a nation can afford better healthcare, better educationalsystems, and more of the material necessities of life.Questions for Review:1. An economy's income must equal its expenditure, because every transaction has a buyer and aseller. Thus, expenditure by buyers must equal income by sellers.2. The production of a luxury car contributes more to GDP than the production of an economy carbecause the luxury car has a higher market value.3. The contribution to GDP is $3, the market value of the bread, which is the final good that issold.4. The sale of used records does not affect GDP at all because it involves no current production.5. The four components of GDP are consumption, such as the purchase of a DVD; investment,such as the purchase of a computer by a business; government purchases, such as an order formilitary aircraft; and net exports, such as the sale of American wheat to Russia. (Many otherexamples are possible.)6. Economists use real GDP rather than nominal GDP to gauge economic well-being because realGDP is not affected by changes in prices, so it reflects only changes in the amounts beingproduced. You cannot determine if a rise in nominal GDP has been caused by increasedproduction or higher prices.7.405The percentage change in nominal GDP is (600 – 200)/200 x 100% = 200%. The percentagechange in real GDP is (400 – 200)/200 x 100% = 100%. The percentage change in the deflator is (150 – 100)/100 x 100% = 50%.8. It is desirable for a country to have a large GDP because people could enjoy more goods andservices. But GDP is not the only important measure of well-being. For example, laws thatrestrict pollution cause GDP to be lower. If laws against pollution were eliminated, GDP wouldbe higher but the pollution might make us worse off. Or, for example, an earthquake wouldraise GDP, as expenditures on cleanup, repair, and rebuilding increase. But an earthquake is anundesirable event that lowers our welfare.Problems and Applications1. a. Consumption increases because a refrigerator is a good purchased by a household.b. Investment increases because a house is an investment good.c. Consumption increases because a car is a good purchased by a household, but investmentdecreases because the car in Ford’s inventory had been counted as an investment gooduntil it was sold.d. Consumption increases because pizza is a good purchased by a household.e. Government purchases increase because the government spent money to provide a goodto the public.f. Consumption increases because the bottle is a good purchased by a household, but netexports decrease because the bottle was imported.g. Investment increases because new structures and equipment were built.2. With transfer payments, nothing is produced, so there is no contribution to GDP.3. If GDP included goods that are resold, it would be counting output of that particular year, plussales of goods produced in a previous year. It would double-count goods that were sold morethan once and would count goods in GDP for several years if they were produced in one yearand resold in another.4. a. Calculating nominal GDP:2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) = $4002012: ($2 per qt. of milk ⨯ 200 qts. milk) + ($4 per qt. of honey ⨯ 100 qts. honey) = $800Calculating real GDP (base year 2010):2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) = $4002012: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) = $400 Calculating the GDP deflator:2010: ($200/$200) ⨯ 100 = 1002011: ($400/$400) ⨯ 100 = 1002012: ($800/$400) ⨯ 100 = 200b. Calculating the percentage change in nominal GDP:Percentage change in nominal GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in nominal GDP in 2012 = [($800 – $400)/$400] ⨯ 100% = 100%.Calculating the percentage change in real GDP:Percentage change in real GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in real GDP in 2012 = [($400 – $400)/$400] ⨯ 100% = 0%.Calculating the percentage change in GDP deflator:Percentage change in the GDP deflator in 2011 = [(100 – 100)/100] ⨯ 100% = 0%.Percentage change in the GDP deflator in 2012 = [(200 – 100)/100] ⨯ 100% = 100%.Prices did not change from 2010 to 2011. Thus, the percentage change in the GDP deflator is zero. Likewise, output levels did not change from 2011 to 2012. This means that thepercentage change in real GDP is zero.c. Economic well-being rose more in 2010 than in 2011, since real GDP rose in 2011 but not in2012. In 2011, real GDP rose but prices did not. In 2012, real GDP did not rise but prices did.5. a. C alculating Nominal GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $5) = $20Year 3: (5 bars ⨯ $6) = $30b. C alculating Real GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $4) = $16Year 3: (5 bars ⨯ $4) = $20c. Calculating the GDP delator:Year 1: $12/$12 ⨯ 100 = 100Year 2: $20/$16 ⨯ 100 = 125Year 3: $30/$20 ⨯ 100 = 150d. T he growth rate from Year 2 to Year 3 = (16 – 12)/12 ⨯ 100% = 4/12 ⨯ 100% = 33.3%e. The inflation rate from Year 2 to Year 3 = (150 – 125)/125 ⨯ 100% = 25/125 ⨯ 100% =20%.f. To calculate the growth rate of real GDP, we could simply calculate the percentage changein the quantity of bars. To calculate the inflation rate, we could measure the percentage change in the price of bars.6.a. The growth rate of nominal GDP = 100% ⨯ [($14,256/$9,353)0.10– 1] = 4.3%b. The growth rate of the deflator = 100% ⨯ [(109.886.8)0.10– 1] = 2.4%c. Real GDP in 1999 (in 2005 dollars) is $9,353/(86.8/100) = $10,775.35.d. Real GDP in 2009 (in 2005 dollars) is $14,256/(109.8/100) = $12,983.61.e. The growth rate of real GDP = 100% ⨯ [($12,983.61/$10,775.35)0.10– 1] = 1.9%f. The growth rate of nominal GDP is higher than the growth rate of real GDP because ofinflation.7. Many answers are possible.8. a. GDP is the market value of the final good sold, $180.b. Value added for the farmer: $100.Value added for the miller: $150 – $100 = $50.Value added for the baker: $180 – $150 = $30.c. Together, the value added for the three producers is $100 + $50 + $30 = $180. This is thevalue of GDP.9. In countries like India, people produce and consume a fair amount of food at home that is notincluded in GDP. So GDP per person in India and the United States will differ by more than their comparative economic well-being.10. a. The increased labor-force participation of women has increased GDP in the United States,because it means more people are working and production has increased.b. If our measure of well-being included time spent working in the home and taking leisure, itwould not rise as much as GDP, because the rise in women's labor-force participation has reduced time spent working in the home and taking leisure.c. Other aspects of well-being that are associated with the rise in women's increasedlabor-force participation include increased self-esteem and prestige for women in theworkforce, especially at managerial levels, but decreased quality time spent with children, whose parents have less time to spend with them. Such aspects would be quite difficult to measure.11. a. GDP equals the dollar amount Barry collects, which is $400.b. NNP = GDP – depreciation = $400 – $50 = $350.c. National income = NNP = $350.d. Personal income = national income – retained earnings – indirect business taxes = $350 –$100 – $30 = $220.e. Disposable personal income = personal income – personal income tax = $220 – $70 =$150.。
(完整版)《曼昆—宏观经济学》重点总结,推荐文档
第23章一国收入的衡量—GDP微观经济学(microeconomics)研究个别家庭和企业如何做出决策，以及它们如何在市场上相互交易。
宏观经济学(macroeconomics)研究整个经济，包括通货膨胀、失业率和经济增长。
一GDP1 定义：国内生产总值(gross domestic product，GDP) 是在某一既定时期一个国家内生产的所有最终物品与劳务的市场价值。
2 组成：GDP（用Y代表）被分为四个组成部分：消费（C）、投资（I）、政府购买（G）、净出口（NX）：Y = C ＋I ＋G ＋NX3 实际GDP与名义GDP：实际GDP=名义GDP-通货膨胀率，衡量的是生产的变动，而不是物价的变动。
4 GDP平减指数：，是经济学家用来检测经济平均物价水平，从而监测通货膨胀率的一个重要指标。
（GDP deflator）5 GDP与经济福利：•由于GDP用市场价格来评价物品与劳务，它就没有把几乎所有在市场之外进行的活动的价值包括进来，特别是，GDP漏掉了在家庭中生产的物品与劳务的价值。
•GDP没有包括的另一种东西是环境质量。
•GDP也没有涉及收入分配。
二衡量收入的其他指标：•国民生产总值(GNP)：是一国永久居民(称为国民)所赚到的总收入。
它与GDP的不同之处在于：它包括本国公民在国外赚到的收入，而不包括外国人在本国赚到的收入。
•国民生产净值(NNP)：是一国居民的总收入(GNP)减折旧的消耗。
•国民收入、个人收入、个人可支配收入第24章生活费用的衡量—CPI一CPI1 定义：消费物价指数(consumer price index，CPI) 是普通消费者所购买的物品与劳务的总费用的衡量标准2 计算：定义篮子→找出价格→计算费用→选择基年并计算指数→计算通货膨胀率消费者物价指数=*1003 衡量生活费用过程中存在的问题替代倾向新产品的引进无法衡量的质量变动。
4 GDP平减指数与消费者物价指数差别1：GDP平减指数反映了国内生产的所有物品与劳务的价格，而消费物价指数反交映了消费者购买的所有物品与劳务的价格。
曼昆宏观习题答案中文版
《经济学原理》宏观部分习题答案第23章《国民收入衡量》复习题：1．解释为什么一个经济的收入必定等于其指出？答：每宗交易都由卖方和买方，所以经济中支出必然等于收入。
2．生产一辆经济型轿车或生成一辆豪华型轿车，哪一个对GDP的贡献更大？为什么？答：豪华汽车市场价值高，所以对GDP贡献大。
（一对一比较）3．农民以2美元的价格把小麦卖给面包师。
面包师用小麦制成面包，以3美元的价格出售。
这些交易对GDP的贡献是多少呢？答：3元，即面包的市场价值，也即销售的最终产品。
4. 许多年以前，Peggy为了收集唱片而花了500美元。
今天她在旧货销售中把她收集的物品卖了100美元。
这种销售如何影响现期GDP？答：对现今GDP不产生影响，因为它不是现今生产出来的。
5. 列出GDP的四个组成部分。
各举一个例子。
答：消费-如购买CD。
投资-如公司购买一台电脑。
政府采购-如政府采购战机。
净出口-如美国卖小麦给俄罗斯。
6. 为什么经济学家在判断经济福利时用真实GDP，而不用名义GDP？答：因为实际GDP不受价格波动影响。
7. 在2005年，某个经济生产100个面包，每个以2美元的价格售出。
在2006年，这个经济生产200个面包，每个以3美元的价格售出。
计算每年的名义GDP、真实GDP和GDP 平减指数。
（用2005年做基年。
）从一年到下一年这三个统计数字的百分比分别提高了多少？答：名义GDP 实际GDP GDP平减指数 2001年 200元 200元 1002002年 600元400元 150增长% 200% 100% 50%8. 为何说一国有高的GDP是合意的？举出一个增加GDP但并不合意的例子。
答：GDP大，说明人们可以享有更多的产品和服务。
污染环境的生产，增加GDP，但是不合意。
地震过后，需要清理、重建，增加GDP，但是不合意。
应用题：1. 下列每一种交易会影响GDP的哪一部分（如果有影响的话）？解释之。
a. 家庭购买了一台新冰箱答：消费b. 姑妈买了一所新房子。
曼昆经济学原理宏观第23章 PPT
*
政府购买 （G）
▪ 是地方、州、和联邦政府用于物品与劳务的支出。 ▪ 政府购买不包括转移支付，比如社会保障补助或
失业保险补助 因为它们不是物品与劳务的购买
*
净出口 （NX）
▪ NX = 出口 – 进口 ▪ 出口代表外国对国内生产物品与劳务的支出 ▪ 进口是消费，投资和政府购买中对外国生产的物
大家有疑问的，可以询问和交流
这张图省略了什么
▪ 政府
▪ 征税，购买物品与劳务
▪ 金融体系 ▪ 在储蓄者资金的供给和借款者贷款的需求之间达 成均衡
▪ 外国部门 ▪ 物品与劳务贸易，金融资产，外国居民的货币
*
国内生产总值（GDP）：
在某一既定时期一个国家内生产的所 有最终物品与劳务的市场价值
物品用它们的市场价值来评价，那:
*
微观经济学与宏观经济学
▪ 微观经济学: 研究家庭和企业如何做出决策，以及它们如何在 市场上相互交易
▪ 宏观经济学： 研究整体经济现象
*
收入与支出
▪ 国内生产总值 (GDP) 衡量经济中所有人的总收入 ▪ GDP也衡量用于经济中物品与劳务生产的总支出
对一个整体经济而言， 收入等于支出
因为某个买者的1美元支出正是某个卖者的1 美元收入
GDP的计算
使用上述数据解决以下问题： A. 计算2011年的名义GDP. B. 计算2012年的真实GDP. C. 计算2013年的GDP平减指数.
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曼昆宏观经济学 23章英文答案
405WHAT’S NEW IN THE SIXTH EDITION:There is a new In the News box on ―Beyond Gross Domestic Product.‖LEARNING OBJECTIVES:By the end of this chapter, students should understand:why an economy’s total income equ als its total expenditure.how gross domestic product (GDP) is defined and calculated.the breakdown of GDP into its four major components.the distinction between real GDP and nominal GDP.whether GDP is a good measure of economic well-being.CONTEXT AND PURPOSE:Chapter 10 is the first chapter in the macroeconomic section of the text. It is the first of a two-chapter sequence that introduces students to two vital statistics that economists use to monitor themacroeconomy —GDP and the consumer price index. Chapter 10 develops how economists measure production and income in the macroeconomy. The following chapter, Chapter 11, develops howeconomists measure the level of prices in the macroeconomy. Taken together, Chapter 10 concentrates on the quantity of output in the macroeconomy while Chapter 11 concentrates on the price of output in the macroeconomy.The purpose of this chapter is to provide students with an understanding of the measurement and the use of gross domestic product (GDP). GDP is the single most important measure of the health of the macroeconomy. Indeed, it is the most widely reported statistic in every developed economy.MEASURING A NATION’SINCOME406 ❖Chapter 23/Measuring a Nation’s IncomeKEY POINTS:∙ Because every transaction has a buyer and a seller, the total expenditure in the economy must equal the total income in the economy.∙ Gross domestic product (GDP) measures an economy’s total expenditure on newly produced goods and services and the total income earned from the production of these goods and services. More precisely, GDP is the market value of all final goods and services produced within a country in a given period of time.∙ GDP is divided among four components of expenditure: consumption, investment, government purchases, and net exports. Consumption includes spending on goods and services by households, with the exception of purchases of new housing. Investment includes spending on new equipment and structures, including households’ pur chases of new housing. Government purchases include spending on goods and services by local, state, and federal governments. Net exports equal the value of goods and services produced domestically and sold abroad (exports) minus the value of goods and services produced abroad and sold domestically (imports).∙ Nominal GDP uses current prices to value the economy’s production of goods and services. Real GDP uses constant base-year prices to value the economy’s production of goods and services. The GDP defla tor―calculated from the ratio of nominal to real GDP―measures the level of prices in theeconomy.∙ GDP is a good measure of economic well-being because people prefer higher incomes to lower incomes. But it is not a perfect measure of well-being. For example, GDP excludes the value ofleisure and the value of a clean environment.CHAPTER OUTLINE:I. Review of the Definitions of Microeconomics and MacroeconomicsA. Definition of microeconomics: the study of how households and firms make decisionsand how they interact in markets.B. Definition of macroeconomics: the study of economy-wide phenomena includinginflation, unemployment, and economic growth.II. The Economy’s Income and ExpenditureA. To judge whether or not an economy is doing well, it is useful to look at Gross Domestic Product(GDP).Chapter 23/Measuring a Natio n’s Income ❖ 4071. GDP measures the total income of everyone in the economy.2. GDP measures total expenditure on an economy’s output of goods and services.B. For an economy as a whole, total income must equal total expenditure.1. If someone pays someone else $100 to mow a lawn, the expenditure on the lawn service($100) is exactly equal to the income earned from the production of the lawn service ($100).2. We can also use the circular-flow diagram from Chapter 2 to show why total income and totalexpenditure must be equal.a. Households buy goods and services from firms; firms use this money to pay for resourcespurchased from households.b. In the simple economy described by this circular-flow diagram, calculating GDP could bedone by adding up the total purchases of households or summing total income earned by households.408 ❖ Chapter 23/Measuring a Nation’s Incomec. Note that this simple diagram is somewhat unrealistic as it omits saving, taxes,government purchases, and investment purchases by firms. However, because atransaction always has a buyer and a seller, total expenditure in the economy must be equal to total income.III. The Measurement of Gross Domestic ProductA. Definition of gross domestic product (GDP): the market value of all final goods andservices produced within a country in a given period of time .B. ―GDP Is the Market Value . . .‖ 1. To add together different items, market values are used. 2. Market values are calculated by using market prices.C. ―. . . Of All . . .‖1. GDP includes all items produced and sold legally in the economy.2. The value of housing services is somewhat difficult to measure.a. If housing is rented, the value of the rent is used to measure the value of the housingservices. b. For housing that is owned (or mortgaged), the government estimates the rental valueand uses this figure to value the housing services. 3. GDP does not include illegal goods or services or items that are not sold in markets. a. When you hire someone to mow your lawn, that production is included in GDP.b. If you mow your own lawn, that production is not included in GDP.D. ―. . . Final . . .‖ 2. The value of intermediate goods is already included as part of the value of the final good.Chapter 23/Measuring a Natio n’s Income❖4093. Goods that are placed into inventory are considered to be ―final‖ and included in GDP as afirm’s inventory investment.a. Goods that are sold out of inventory are counted as a decrease in inventory investment.b. The goal is to count the production when the good is finished, which is not necessarilythe same time that the product is sold.E. ―. . . Goods and Services . . .‖1. GDP includes both tangible goods and intangible services.F. ―. . . Produced . . .‖1. Only current production is counted.2. Used goods that are sold do not count as part of GDP.G. ―. . . Within a Country . . .‖1. GDP measures the production that takes place within the geographical boundaries of aparticular country.2. If a Canadian citizen works temporarily in the United States, the value of his output isincluded in GDP for the United States. If an American owns a factory in Haiti, the value of the production of that factory is not included in U.S. GDP.H. ―. . . in a Given Period of Time.‖1. The usual interval of time used to measure GDP is a quarter (three months).2. When the government reports GDP, the data are generally reported on an annual basis.3. In addition, data are generally adjusted for regular seasonal changes (such as Christmas).I. In addition to summing expenditure, the government also calculates GDP by adding up totalincome in the economy.1. The two ways of calculating GDP almost exactly give the same answer.2. The difference between the two calculations of GDP is called the statistical discrepancy.410 ❖ Chapter 23/Measuring a Nation’s IncomeJ. FYI: Other Measures of IncomeA. Gross National Product (GNP) is the total income earned by a nation’s permanent residents.1. GNP includes income that American citizens earn abroad.2. GNP excludes income that foreigners earn in the United States.B. Net National Product (NNP) is the total income of a nation’s residents (GNP) minus losses fromdepreciation (wear and tear on an economy’s stock of equipment and structures).C. Nati onal income is the total income earned by a nation’s residents in the production of goods andservices.1. National income differs from NNP by excluding indirect business taxes and including businesssubsidies.2. NNP and national income also differ due to ―statistical discrepancy.‖ D. Personal income is the income that households and noncorporate businesses receive.E. Disposable personal income is the income that households and noncorporate businesses have leftafter taxes and other obligations to the government.IV. The Components of GDPA. GDP (Y ) can be divided into four components: consumption (C ), investment (I ), governmentpurchases (G ), and net exports (NX ).B. Definition of consumption: spending by households on goods and services, with theexception of purchases of new housing . C. Definition of investment: spending on capital equipment, inventories, and structures,including household purchases of new housing .1. GDP accounting uses the word ―investment‖ differently from how w e use the term ineveryday conversation.2. When a student hears the word ―investment,‖ he or she thinks of financial instruments suchas stocks and bonds.Chapter 23/Measuring a Natio n’s Income ❖ 4113. In GDP accounting, investment means purchases of investment goods such as capitalequipment, inventories, or structures.D. Definition of government purchases: spending on goods and services by local, state,and federal governments .1. Salaries of government workers are counted as part of the government purchases componentof GDP. 2. Transfer payments are not included as part of the government purchases component of GDP.E. Definition of net exports: spending on domestically produced goods by foreigners(exports) minus spending on foreign goods by domestic residents (imports).F. Case Study: The Components of U.S. GDP1. Table 1 shows these four components of GDP for 2009.2. The data for GDP come from the Bureau of Economic Analysis, which is part of theDepartment of Commerce. V. Real Versus Nominal GDPA. There are two possible reasons for total spending to rise from one year to the next.1. The economy may be producing a larger output of goods and services.2. Goods and services could be selling at higher prices.B. When studying GDP over time, economists would like to know if output has changed (not prices).C. Thus, economists measure real GDP by valuing output using a fixed set of prices.D. A Numerical Example412 ❖ Chapter 23/Measuring a Nation’s Income1. Two goods are being produced: hot dogs and hamburgers.2. Definition of nominal GDP: the production of goods and services valued at currentprices .Nominal GDP for 2010 = ($1 × 100) + ($2 × 50) = $200. Nominal GDP for 2011 = ($2 × 150) + ($3 × 100) = $600. Nominal GDP for 2012 = ($3 × 200) + ($4 × 150) = $1,200.3. Definition of real GDP: the production of goods and services valued at constantprices .Let’s assume that the base year is 2008.Real GDP for 2010 = ($1 × 100) + ($2 × 50) = $200. Real GDP for 2011 = ($1 × 150) + ($2 × 100) = $350. Real GDP for 2012 = ($1 × 200) + ($2 × 150) = $500. E. Because real GDP is unaffected by changes in prices over time, changes in real GDP reflectchanges in the amount of goods and services produced.Chapter 23/Measuring a Natio n’s Income ❖ 413F. The GDP Deflator1. Definition of GDP deflator: a measure of the price level calculated as the ratio ofnominal GDP to real GDP times 100.2. Example CalculationsGDP Deflator for 2010 = ($200 / $200) × 100 = 100. GDP Deflator for 2011 = ($600 / $350) × 100 = 171. GDP Deflator for 2012 = ($1200 / $500) × 100 = 240.G. Case Study: Real GDP over Recent History1. Figure 2 shows quarterly data on real GDP for the United States since 1965.2. We can see that real GDP has increased over time.414 ❖ Chapter 23/Measuring a Nation’s Income3. We can also see that there are times when real GDP declines. These periods are calledrecessions. VI. Is GDP a Good Measure of Economic Well-Being?A. GDP measures both an economy’s total income and its total expenditure on goods and services.B. GDP per person tells us the income and expenditure level of the average person in the economy.C. GDP, however, may not be a very good measure of the economic well-being of an individual.1. GDP omits important factors in the quality of life including leisure, the quality of theenvironment, and the value of goods produced but not sold in formal markets.2. GDP also says nothing about the distribution of income.3. However, a higher GDP does help us achieve a good life. Nations with larger GDP generallyhave better education and better health care.D. In the News: The Underground Economy1. The measurement of GDP misses many transactions that take place in the undergroundeconomy.2. This article compares the underground economies of the United States and several othercountries.E. Case Study: International Differences in GDP and the Quality of Life1. Table 3 shows real GDP per person, life expectancy, adult literacy rates, and Internet usagefor 12 countries.2. In rich countries, life expectancy is higher and adult literacy and Internet usage rates arealso high. 3. In poor countries, people typically live only into their 50s, only about half of the adultpopulation is literate, and Internet usage is very rare.F. In the News: Beyond Gross Domestic Product1. Some economists wonder if we need a better measure of economic well-being.2. This is an article from The New York Times describing some criticisms of using GDP solely tomeasure economic well-being.SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes:1. Gross domestic product measures two things at once: (1) the total income of everyone inthe economy and (2) the total exp enditure on the economy’s output of final goods andservices. It can measure both of these things at once because all expenditure in theeconomy ends up as someone’s income.2. The production of a pound of caviar contributes more to GDP than the production of a poundof hamburger because the contribution to GDP is measured by market value and the price ofa pound of caviar is much higher than the price of a pound of hamburger.3. The four components of expenditure are: (1) consumption; (2) investment; (3) governmentpurchases; and (4) net exports. The largest component is consumption, which accounts formore than 70 percent of total expenditure.4. Real GDP is the production of goods and services valued at constant prices. Nominal GDP isthe production of goods and services valued at current prices. Real GDP is a better measureof economic well-being because changes in real GDP reflect changes in the amount of outputbeing produced. Thus, a rise in real GDP means people have produced more goods andservices, but a rise in nominal GDP could occur either because of increased production orbecause of higher prices.5. Although GDP is not a perfect measure of well-being, policymakers should care about itbecause a larger GDP means that a nation can afford better healthcare, better educationalsystems, and more of the material necessities of life.Questions for Review:1. An economy's income must equal its expenditure, because every transaction has a buyer anda seller. Thus, expenditure by buyers must equal income by sellers.2. The production of a luxury car contributes more to GDP than the production of an economycar because the luxury car has a higher market value.3. The contribution to GDP is $3, the market value of the bread, which is the final good that issold.4. The sale of used records does not affect GDP at all because it involves no current production.5. The four components of GDP are consumption, such as the purchase of a DVD; investment,such as the purchase of a computer by a business; government purchases, such as an orderfor military aircraft; and net exports, such as the sale of American wheat to Russia. (Manyother examples are possible.)6. Economists use real GDP rather than nominal GDP to gauge economic well-being becausereal GDP is not affected by changes in prices, so it reflects only changes in the amountsbeing produced. You cannot determine if a rise in nominal GDP has been caused byincreased production or higher prices.7.The percentage change in nominal GDP is (600 – 200)/200 x 100% = 200%. The percentagechange in real GDP is (400 – 200)/200 x 100% = 100%. The percentage change in the deflator is (150 – 100)/100 x 100% = 50%.8. It is desirable for a country to have a large GDP because people could enjoy more goods andservices. But GDP is not the only important measure of well-being. For example, laws thatrestrict pollution cause GDP to be lower. If laws against pollution were eliminated, GDP wouldbe higher but the pollution might make us worse off. Or, for example, an earthquake wouldraise GDP, as expenditures on cleanup, repair, and rebuilding increase. But an earthquake isan undesirable event that lowers our welfare.Problems and Applications1. a. Consumption increases because a refrigerator is a good purchased by a household.b. Investment increases because a house is an investment good.c. Consumption increases because a car is a good purchased by a household, butinvestment decreases because the car in Ford’s inventory had been counted as aninvestment good until it was sold.d. Consumption increases because pizza is a good purchased by a household.e. Government purchases increase because the government spent money to provide a goodto the public.f. Consumption increases because the bottle is a good purchased by a household, but netexports decrease because the bottle was imported.g. Investment increases because new structures and equipment were built.2. With transfer payments, nothing is produced, so there is no contribution to GDP.3. If GDP included goods that are resold, it would be counting output of that particular year,plus sales of goods produced in a previous year. It would double-count goods that were soldmore than once and would count goods in GDP for several years if they were produced inone year and resold in another.4. a. Calculating nominal GDP:2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$4002012: ($2 per qt. of milk ⨯ 200 qts. milk) + ($4 per qt. of honey ⨯ 100 qts. honey) =$800Calculating real GDP (base year 2010):2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$4002012: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$400Calculating the GDP deflator:2010: ($200/$200) ⨯ 100 = 1002011: ($400/$400) ⨯ 100 = 1002012: ($800/$400) ⨯ 100 = 200b. Calculating the percentage change in nominal GDP:Percentage change in nominal GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in nominal GDP in 2012 = [($800 – $400)/$400] ⨯ 100% = 100%.Calculating the percentage change in real GDP:Percentage change in real GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in real GDP in 2012 = [($400 – $400)/$400] ⨯ 100% = 0%.Calculating the percentage change in GDP deflator:Percentage change in the GDP deflator in 2011 = [(100 – 100)/100] ⨯ 100% = 0%.Percentage change in the GDP deflator in 2012 = [(200 – 100)/100] ⨯ 100% = 100%.Prices did not change from 2010 to 2011. Thus, the percentage change in the GDPdeflator is zero. Likewise, output levels did not change from 2011 to 2012. This meansthat the percentage change in real GDP is zero.c. Economic well-being rose more in 2010 than in 2011, since real GDP rose in 2011 but notin 2012. In 2011, real GDP rose but prices did not. In 2012, real GDP did not rise butprices did.5. a. Calculating Nominal GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $5) = $20Year 3: (5 bars ⨯ $6) = $30b. Calculating Real GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $4) = $16Year 3: (5 bars ⨯ $4) = $20c. Calculating the GDP delator:Year 1: $12/$12 ⨯ 100 = 100Year 2: $20/$16 ⨯ 100 = 125Year 3: $30/$20 ⨯ 100 = 150d. The growth rate from Year 2 to Year 3 = (16 – 12)/12 ⨯ 100% = 4/12 ⨯ 100% = 33.3%e. The inflation rate from Year 2 to Year 3 = (150 – 125)/125 ⨯ 100% = 25/125 ⨯ 100% =20%.f. To calculate the growth rate of real GDP, we could simply calculate the percentagechange in the quantity of bars. To calculate the inflation rate, we could measure thepercentage change in the price of bars.6.a. The growth rate of nominal GDP = 100% ⨯ [($14,256/$9,353)0.10– 1] = 4.3%b. The growth rate of the deflator = 100% ⨯ [(109.886.8)0.10– 1] = 2.4%c. Real GDP in 1999 (in 2005 dollars) is $9,353/(86.8/100) = $10,775.35.d. Real GDP in 2009 (in 2005 dollars) is $14,256/(109.8/100) = $12,983.61.e. The growth rate of real GDP = 100% ⨯ [($12,983.61/$10,775.35)0.10– 1] = 1.9%f. The growth rate of nominal GDP is higher than the growth rate of real GDP because ofinflation.7. Many answers are possible.8. a. GDP is the market value of the final good sold, $180.b. Value added for the farmer: $100.Value added for the miller: $150 – $100 = $50.Value added for the baker: $180 – $150 = $30.c. Together, the value added for the three producers is $100 + $50 + $30 = $180. This isthe value of GDP.9. In countries like India, people produce and consume a fair amount of food at home that isnot included in GDP. So GDP per person in India and the United States will differ by more than their comparative economic well-being.10. a. The increased labor-force participation of women has increased GDP in the United States,because it means more people are working and production has increased.b. If our measure of well-being included time spent working in the home and taking leisure,it would not rise as much as GDP, because the rise in women's labor-force participationhas reduced time spent working in the home and taking leisure.c. Other aspects of well-being that are associated with the rise in women's increased labor-force participation include increased self-esteem and prestige for women in theworkforce, especially at managerial levels, but decreased quality time spent with children, whose parents have less time to spend with them. Such aspects would be quite difficultto measure.11. a. GDP equals the dollar amount Barry collects, which is $400.b. NNP = GDP – depreciation = $400 – $50 = $350.c. National income = NNP = $350.d. Personal income = national income – retained earnings – indirect business taxes = $350– $100 – $30 = $220.e. Disposable personal income = personal income – personal income tax = $220 – $70 =$150.。
曼昆宏观经济学英语课后题答案
CHAPTER 23: MEASURING A NATION’S INCOMETrue/FalseIndicate whether the statement is true or false.1. T he circular flow diagram describes all transactions between households and firms in a simpleeconomy and shows the equality of expenditures and income.ANSWER: TPOINTS: 0 / 12. G ross domestic product includes most items produced and sold illicitly.ANSWER: FPOINTS: 0 / 13. N et national product is the total in come of a nation’s residents minus losses from depreciation.ANSWER: TPOINTS: 0 / 14. D isposable personal income is the income that households and unincorporated business haveleft after satisfying all their obligations to the government. It equals personal income minuspersonal taxes and certain non-tax payments to government.ANSWER: TPOINTS: 0 / 15. T he purchase of new houses by households is included in the calculation of personalconsumption expenditures of GDP.ANSWER: FPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. W hen GDP falls,a. income and expenditure must both fall.b. income and expenditure can both rise.c. income must fall, but expenditure may rise or fall.d. expenditure must fall, but income may rise or fall.ANSWER: APOINTS: 0 / 12. I ncome equals expenditure becausea. firms always pay out all their revenue as income to someone.b. each time a sale is made, there is a buyer and a seller.c. households own the factors of production used to generate incomes.d. All of the above are correct.ANSWER: BPOINTS: 0 / 13. I f a province makes the production and sale of illicit drugs legal, then GDPa. must increase.b. must decrease.c. wouldn't change.d. may increase or decrease.ANSWER: APOINTS: 0 / 14. W hen a government provides subsidies to encourage growth of small businesses, the subsidieswoulda. be included in GDP because they are invested by businesses.b. be included in GDP because they are a form of government spending.c. not be included in GDP because they are transfer payments.d. may or may not be included in GDP, depending on how the funds are used.ANSWER: CPOINTS: 0 / 15. D iesel fuel isa. always considered a final good.b. counted as an intermediate good if a company uses it to provide transportation services.c. counted as a final good if a farmer uses it to run a tractor to grow crops.d. Both b and c are correct.ANSWER: BPOINTS: 0 / 16. G ross domestic producta. is the market value of all final goods and services produced within a country in a givenperiod (usually a year)b. is the income in the hands of individuals after deducting income taxes; income availableto households to spend and savec. is the value of goods and services purchased by all levels of government— federal,provincial, and local—in a given periodd. is the market value of all final goods and services produced by permanent residents of anation in a given time periodANSWER: APOINTS: 0 / 17. M acroeconomics is that branch of economics that studiesa. the conditions of individual marketsb. the influence of governments on individual marketsc. economy-wide phenomenad. only the private sector of the economyANSWER: CPOINTS: 0 / 18. S uppose that nominal GDP is $6,000 billion and real GDP is $3,000. What is the GDP pricedeflator?a. 125b. 150c. 200d. 250ANSWER: CPOINTS: 0 / 19. T he purchase of final goods and services by households is calleda. investmentb. public sector expenditurec. consumptiond. net exportsANSWER: CPOINTS: 0 / 110. I nvestment is the purchase of capital equipment, inventories, anda. structuresb. non-durable goodsc. depreciationd. import investmentANSWER: APOINTS: 0 / 111. T ransfer paymentsa. are included in GDP because they are forms of incomeb. are included in GDP because goods and services have been produced in the transferc. are NOT included in the GDP because goods and services have not been produced inthe transferd. are included in GDP because they represent the production of transfers of goods andservices to foreign countriesANSWER: CPOINTS: 0 / 112. W hich of the following would be considered consumption expenditure?a. The Smiths buy a home built in 1990.b. The federal government pays the salary of a captain in the Armed Forces.c. The Hostlers buy a new car that was manufactured in Germany.d. The government buys food for its armed forces.ANSWER: CPOINTS: 0 / 113. T he method that measures GDP in relationship to the size of the population is calleda. GNPb. worker GDPc. GDP per persond. capital GDPANSWER: CPOINTS: 0 / 114. T he components of GDP area. C + I + Gb. NX + G + Cc. C + G + NXd. C + I + G + NXANSWER: DPOINTS: 0 / 115. S uppose nominal GDP is $7700 and the GDP deflator is 110. Real GDP isa. $7700b. $7000c. $847,000d. $8470ANSWER: BPOINTS: 0 / 1Short Answer1. W hat are the components of gross domestic product (GDP)?RESPONSE:ANSWER: The components of GDP are: (1) consumption spending by households on goods and services, with the exception of purchases of new housing; (2) Investmentspending on capital equipment, inventories, and structures, including householdpurchases of new housing; (3) government purchases or spending on goods andservices by the local, provincial, and federal levels governments; and (4) netexports which is spending on domestically produced goods and services byforeigners (exports) minus spending on foreign goods and services by domesticresident (imports).POINTS: -- / 12. D ifferentiate between gross domestic product (GDP) and gross national product (GNP).RESPONSE:ANSWER: GDP is the value of all final goods and services produced within a country in a given year; while GNP is the total income earned by a nation’s permanent residents ornationals (that is, Canadians). GNP differs from GDP by including income thatcitizens of the nation (Canada) earned aboard, and excluding income thatforeigners earn in the particular country (E.g. in Canada).POINTS: -- / 13. D ifferentiate between real GDP and nominal GDP.RESPONSE:ANSWER: Nominal GDP is the value of all final goods and services produced within a country in a year and valued at current prices; and real GDP is the GDP valued at constantbase year prices. Real GDP is not affected by changes in the level of prices, so itreflects only changes in the amounts being produced.POINTS: -- / 14. E xplain why GDP is not considered a perfect measure of well- being?RESPONSE:ANSWER: GDP is not considered a perfect measure of well-being because some of thefactors that contribute to a good life are omitted. These would include: leisure time,the quality of the environment, the distribution of income, and the production ofgoods and services that did not pas through the market (for example, houseworkdone by the homemaker, and volunteer work)POINTS: -- / 15. H ow do economists measure economic growth?RESPONSE:ANSWER: Economists measure economic growth as the percentage change in real GDP from one period to another. This is because changes in real GDP reflect only changes inthe amounts being produced.POINTS: -- / 1CHAPTER 24: MEASURING THE COST OF LIVINGTrue/FalseIndicate whether the statement is true or false.1. T he GDP deflator reflects the prices of goods and services bought by consumers, and the consumerprice index reflects the price of all final goods and services produced domestically.ANSWER: FPOINTS: 0 / 12. T he consumer price index compares the price of a fixed basket of goods and services to the price ofthe basket in the base year. On the other hand, the GDP deflator compares the price of currently produced goods and services to the price of the same goods and services in the base years.ANSWER: TPOINTS: 0 / 13. I ndexation refers to the automatic correction of a dollar amount for the effects of inflation by law orcontract.ANSWER: TPOINTS: 0 / 14. L ong term contracts between firms and unions will sometimes include partial or complete indexationof the wage to the consumer price index. This is called a cost-of-living allowance clause.ANSWER: TPOINTS: 0 / 15. T he core inflation rate is the consumer price index with the exclusion of the most volatilecomponents such as energy and food.ANSWER: TPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. I n the CPI, goods and services are weighted according toa. how much a typical consumer buys of each item.b. whether the items are necessities or luxuries.c. how much of each item is produced in the domestic economy.d. how much is spent on them in the national income accounts.ANSWER: APOINTS: 0 / 12. B y not taking into account the possibility of consumer substitution, the CPIa. understates the standard of living.b. overstates the cost of living.c. neither overstates nor understates the cost of living.d. doesn't accurately reflect the cost of living, but it is unclear if it overstates or understates thecost of living.ANSWER: BPOINTS: 0 / 13. I f the prices of Brazilian-made shoes imported into Canada increases, thena. both Canada’s GDP deflator and it’s consumer price index will increase.b. neither Canada’s GDP deflator nor it’s consumer pri ce index will increase.c. Canada’s GDP deflator will increase but its CPI will not increase.d. Canada’s consumer price index will increase, but its GDP deflator won’t change.ANSWER: DPOINTS: 0 / 14. I f increases in the prices of Canadian car insurance causes the CPI to increase by 3 percent, theGDP deflator will likely increase bya. more than 3 percent.b. 3 percent.c. less than 3 percent.d. All of the above are correct.ANSWER: CPOINTS: 0 / 15. T he real interest rate tells youa. how quickly your savings account will grow.b. how quickly the purchasing power of your savings account will grow.c. the size of your savings account.d. the purchasing power of your savings account.ANSWER: BPOINTS: 0 / 16. I nflation refers toa. a temporary increase in the price level due to higher tax ratesb. a large increase in food and gasoline pricesc. a situation in which the economy's overall price level is risingd. an increase in the purchasing power of the dollarANSWER: CPOINTS: 0 / 17. I f nominal interest rates increase from 8 percent to 10 percent while inflation increases from 3percent to 12 percenta. the real interest rate falls from 5 percent to –2 percentb. the real interest rate rises from –2 percent to 5 percentc. the real interest rate falls from 8 percent to 12 percentd. the real interest rate rises from 8 percent to 12 percentANSWER: APOINTS: 0 / 18. I f the nominal rate of interest is 10 percent and the rate of inflation is 3 percent, what is the real rateof interest?a. 13 percentb. 7 percentc. 3 percentd. –7 percentANSWER: BPOINTS: 0 / 19. T he consumer price index:a. measures price changes of raw materialsb. adjusts all prices of goods and services for five-year periodsc. measures the cost of goods and services bought by a typical consumerd. cannot measure price changes of intangible production such as servicesANSWER: CPOINTS: 0 / 110. I f the consumer price index (CPI) at the end of 1996 was 125 and the CPI at the end of 1997 was131, then the rate of inflation during 1997 wasa. zero – prices were stable during 1997b. 4.8 percentc. 6.0 percentd. 125 percentANSWER: BPOINTS: 0 / 111. F rank's nominal income in 1998 is $45,000. Suppose the CPI in 1998 is 150. What is Frank's realincome?a. $51,750b. $45,000c. $38,250d. $30,000ANSWER: DPOINTS: 0 / 112. A change in the price of imports bought by consumers will bea. reflected in the GDP deflatorb. reflected in GDPc. reflected in the CPId. reflected in net national incomeANSWER: CPOINTS: 0 / 113. A ll of the following but one are problems associated with the CPIa. substitution biasb. the introduction of new goods and servicesc. unmeasured quality changesd. The CPI is not based on a fixed basket of goods and servicesANSWER: DPOINTS: 0 / 114. W hich of the following is correct?a. The CPI is not based on a fixed basket of goods and services.b. The GDP deflator reflects the prices of all domestically produced goods and services.c. The GDP deflator is based on a fixed basket of goods and services.d. The GDP deflator is subject to substitution bias.ANSWER: BPOINTS: 0 / 115. T he inflation ratea. is a measure of the cost of a basket of goods and services bought by firmsb. is the absolute change in prices between yearsc. is the percentage change in the price index from the preceding periodd. measures changes in incomes from one year to the nextANSWER: CPOINTS: 0 / 1Short Answer1. W hat is the consumer price index (CPI)? What are the three major items included in the CPI?RESPONSE:ANSWER: The CPI is a measure of the overall cost of the goods and services bought by a typical consumer. The three major items included in the CPI are shelter, transportation andfood.POINTS: -- / 12. H ow is the CPI computed?RESPONSE:ANSWER: First the basket of goods and services must be determined and also the relative importance of the various items to be included in the basket. Then the prices of thevarious items in the basket are determined. The cost of the basket is then determinedusing the data on prices and quantity. The base year is chosen, and the index for thebase year is computed using the quantities in the basket and the base year prices.The index is calculated by taking the price of the basket in the each year and dividingthis by the price of the basket in the base year. This ratio is then multiplied by 100. POINTS: -- / 13. D ifferentiate between the nominal rate of interest and the real rate of interest.RESPONSE:ANSWER: The nominal interest rate is the interest rate as usually reported without a correction for the effects of inflation. The real interest rate is the interest rate corrected for theeffects of inflation. The real interest rate = nominal interest rate minus the inflationrate.POINTS: -- / 14. W hat is meant by the inflation rate? If the CPI in 1996 was 107.6 and in 1995 was 105.9, calculatethe inflation rate for 1996.RESPONSE:ANSWER: The inflation rate is the percentage change in the price index from the preceding period. The inflation rate for 1996 would be:POINTS: -- / 15. W hat are the problems associated with using the consumer price index to measure the cost ofliving?RESPONSE:ANSWER: The problems are: (1) Prices do not change proportionately. Consumers respond by buying less of the goods whose prices have risen by large amounts and by buyingmore of the goods whose price have risen by less, or even fallen. The index iscomputed using a fixed basket of items, so theses changes in quantity would not bereflected in the basket. This is referred to as the substitution bias. (2) The CPI isdeveloped using a fixed basket of goods and services, when new products areintroduced during the time period that a particular fixed basket is being used, thesenew products will not be included in calculation of the index. (3) The CPI does notmeasure quality changes. If the quality of a good deteriorates from one year to thenext, the value of the dollar falls, even if the price of the good stays the same.Likewise, if the quality of the good increases from one year to the next, the value of adollar also rises. Statistics Canada will try to adjust the price of the good to account forthe quality change, but it is very difficult to measure quality.POINTS: -- / 1CHAPTER 25: PRODUCTION AND GROWTHTrue/FalseIndicate whether the statement is true or false.1. O ne way to raise future productivity is to invest less current resources in the production of capital.ANSWER: FPOINTS: 0 / 12. D iminishing returns occur when the benefits from an extra unit of output declines as the quantityof output declines.ANSWER: FPOINTS: 0 / 13. M althusian theory states that an ever-increasing population would continually strain society’sability to provide for itself. This doomed human beings to forever live in poverty.ANSWER: TPOINTS: 0 / 14. P roductivity growth is measured by real output per worker.ANSWER: TPOINTS: 0 / 15. T he primary reason that living standards are higher today than they were a century ago is thattechnological knowledge has advanced.ANSWER: TPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. O f the following countries, which grew the slowest over the last 100 years?a. Brazil.b. Mexico.c. Singapore.d. United States.ANSWER: DPOINTS: 0 / 12. O n average, each year of schooling raises a person's wage in Canada by abouta. 3 percent.b. 10 percent.c. 15 percent.d. 25 percent.ANSWER: BPOINTS: 0 / 13. T he primary reason that Canadian living standards are higher today than they were a century agois thata. more productive natural resources have been discovered.b. physical capital per worker has increased.c. technological knowledge has increased.d. human capital has increased.ANSWER: CPOINTS: 0 / 14. M any countries in Africa have low growth rates. This is partly due toa. few natural resourcesb. high trade barriers.c. low incomes, making it very difficult for them to grow.d. All of the above are correct.ANSWER: BPOINTS: 0 / 15. A government can encourage growth and, in the long run, raise the economy’s standard of livingby encouraginga. population growth.b. consumption spending.c. saving and investment.d. trade restrictions.ANSWER: CPOINTS: 0 / 16. D iminishing returns is the notion thata. as the stock of capital ages, the extra output produced decreasesb. as the stock of capital is increased, the extra output produced from an additional unit ofcapital fallsc. as resources are used to produce capital goods, fewer additional capital goods can beproducedd. you always get what you pay forANSWER: BPOINTS: 0 / 17. C ompared with richer countries, poorer countries are generally characterized bya. high real GDP per personb. political stabilityc. rapid population growthd. strongly enforced property rightsANSWER: CPOINTS: 0 / 18. W hich one of the following countries would most likely be considered a poorer nation, using realGDP/person?a. Canadab. Germanyc. Japand. IndiaANSWER: DPOINTS: 0 / 19. W hich of the following factors would be most likely to encourage capital formation in a poorernation?a. the expectation of sustained high rates of inflation in the futureb. the expectation that property rights will remain securec. the expectation that a struggle between capitalist and socialist forces will lead to majorstructural change in the economyd. an increase in corporate taxes in order to finance an expanded government welfareprogramANSWER: BPOINTS: 0 / 110. W hich of the following is most likely to cause the productivity of labour to increase?a. higher money wage ratesb. a higher rate of investment in human and physical capitalc. more flexible working hours and improved retirement plansd. none of the aboveANSWER: BPOINTS: 0 / 111. S uppose that factory output rose from 50,000 units to 55,000 units while labour hours rose from1100 to 1200. Which of the following is true?a. Labour productivity remained unchanged.b. Labour productivity increased slightly.c. Labour productivity decreased slightly.d. Labour productivity increased sharply.ANSWER: BPOINTS: 0 / 112. W hich of the following would be most likely to cause the real income per person of poorercountries to rise?a. a more rapid population growthb. a rapid rate of inflationc. an international minimum-wage lawd. an increase in foreign investment that enhanced the productivity of the labour forceANSWER: DPOINTS: 0 / 113. I f a production function has constant returns to scale, then:a. doubling inputs will double output.b. doubling inputs will triple output.c. doubling inputs will cause output to increase, but the increase in output will be less thanthe increase in inputs.d. doubling inputs will decrease output.ANSWER: APOINTS: 0 / 114. T he most important source of rising living standards over time is:a. the increase in the size of the labour force.b. the increase in the labour force participation rate.c. the increase in productivity.d. the increase in human capital—the skills embodied in the work force.ANSWER: CPOINTS: 0 / 1Short Answer1. W hat is productivity and why is it important?RESPONSE:ANSWER: Productivity is the amount of goods and services produced from each hour of a worker’s time. It is the major determinant of the standard of livi ng of a country.POINTS: -- / 12. H ow is productivity determined?RESPONSE:ANSWER: Productivity is determined by a country’s physical capital, human capital, natural resources and technological knowledge.POINTS: -- / 13. W hat is the World Bank and what are its functions?RESPONSE:ANSWER: The World Bank is an international organization that among other thingsencourages the flow of capital to poor countries. It obtains funds from the world’sadvance counties and loans them to less developed countries so that they caninvest in capital infrastructure. The World Bank offers advice to developingcountries on how the funds might best be used.POINTS: -- / 14. W hat are property rights? What role does property rights play in economic growth?RESPONSE:ANSWER: Property rights refer to the ability of people to exercise authority over the resources they own. There must be an economy-wide respect for property rights for the pricesystem or the free market to work. Lack of respect for property rights or theenforcement of property rights would not only cause political instability but wouldalso discourage savings and investment. These are necessary for economicgrowth.POINTS: -- / 15. D ifferentiate between inward-oriented policies and outward-oriented policies.RESPONSE:ANSWER: Inward-oriented policies are aimed at raising productivity and living standards withina county by avoiding interaction with the rest of the world. This approach involvesthe protection of domestic industries to allow them to develop and grow withoutcompetition from foreign firms. Outward-oriented policies are designed to integratecountries into the world economy as international trade is considered to be a factorin generating economic growth.POINTS: -- / 1CHAPTER 26: SAVING, INVESTMENT, AND THE FINANCIAL SYSTEMTrue/FalseIndicate whether the statement is true or false.1. P rivate savings are the tax revenue that the government has left after paying for its spending; andpublic savings is the income that households have left after paying for taxes and consumption.ANSWER: FPOINTS: 0 / 12. A budget deficit is an excess of tax revenue over government spending; and a budget surplus is ashortfall of tax revenue from government spending.ANSWER: FPOINTS: 0 / 13. A budget surplus decreases the supply of loanable funds, increases the interest rate, andstimulates investment.ANSWER: FPOINTS: 0 / 14. T he financial system is the group of institutions in the economy that help to match one person’ssavings with another person’s investment.ANSWER: TPOINTS: 0 / 15. A mutual fund is an institution that sells shares to the public and uses the proceeds to buy aselection, or portfolio, of various types of stocks, bonds, or both stocks and bonds.ANSWER: TPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. W hich of the following is correct?a. Lenders buy bonds and borrowers sell them.b. Long-term bonds usually pay a lower interest rate than do short-term bonds becauselong-term bonds are riskier.c. Junk bonds refer to bonds that have been resold many times.d. None of the above are correct.ANSWER: APOINTS: 0 / 12. I n a closed economy, national saving equalsa. investment.b. income minus the sum of consumption and government expenditures.c. private saving plus public saving.d. All of the above are correct.ANSWER: DPOINTS: 0 / 13. I f the current market interest rate for loanable funds is below the equilibrium level, then there is aa. shortage of loanable funds and the interest rate will rise.b. surplus of loanable funds and the interest rate will rise.c. shortage of loanable funds and the interest rate will fall.d. surplus of loanable funds and the interest rate will fall.ANSWER: APOINTS: 0 / 14. S uppose that Parliament were to introduce a new investment tax credit. What would happen in themarket for loanable funds?a. The demand for loanable funds would shift left and interest rates fall.b. The demand for loanable funds would shift right and interest rates rise.c. The supply of loanable funds would shift left and interest rates rise.d. The supply of loanable funds would shift right and interest rates fall.ANSWER: BPOINTS: 0 / 15. I f Canada increases its budget deficit, it will reducea. private saving and so shift the supply of loanable funds left.b. investment and so shift the demand for loanable funds left.c. public saving and so shift the supply of loanable funds left.d. None of the above are correct.ANSWER: CPOINTS: 0 / 16. C rowding out refers toa. the increase in national saving that occurs when government runs a deficitb. the decrease in the real interest rates due to government borrowingc. a reduction in investment spending resulting from government borrowingd. a decrease in consumption spending resulting from government borrowingANSWER: CPOINTS: 0 / 17. F or a bank to be profitable, the loans it makes must _____ than the _____ obtaining funds.a. cost more; price ofb. pay less interest; total revenue fromc. make more interest; total cost ofd. be less profitable; total revenue fromANSWER: CPOINTS: 0 / 18. L arge budget deficits will likelya. increase the nation's pool of savingb. decrease the nation's pool of savingc. have no impact on the nation's pool of savingd. improve the nation's trade balanceANSWER: BPOINTS: 0 / 19. T he supply curve of loanable funds isa. upward-sloping, reflecting the fact that savers need a higher rate of interest to coax theminto lending moreb. downward-sloping, reflecting the fact that savers will increase their supply for loanablefunds at lower rates of interestc. upward-sloping, reflecting the fact that savers will increase their saving at lower rates ofinterestd. None of the aboveANSWER: APOINTS: 0 / 1。
宏观经济学学习笔记(曼昆经济学原理)23章节
《经济学原理_宏观经济学》第23章 一国收入的衡量一、重要名词解释国内生产总值GDP ：在某一既定时期一个国家内生产的所有最终物品与服务的市场价值。
消费：家庭除购买新住房之外用于物品与服务的支出。
投资：用于资本设备、存货和建筑物的支出，包括家庭用于购买新住房的支出。
（投资可以分为：重置投资、自发投资、引致投资。
重置投资指用于补偿在生产过程中损耗掉的资本设备的投资，亦即折旧。
自发投资与“引致投资”相对而言，又称“自主投资”，指不受国民收入水平或消费水平等经济情况影响和限制的投资。
引致投资与“自发投资”相对而言，是由经济中的内生变量引起的投资，即为适应某些现有产品或整个经济的开支的实际增加或预期增加而发生的投资。
） 政府购买：地方、州和联邦政府用于物品与服务的支出。
净出口：外国人对国内生产的物品的支出（出口）减国内居民对外国物品的支出（进口）。
名义GDP ：按现期价格评价的物品与服务的生产。
真实GDP ：按不变价格评价的物品与服务的生产。
GDP 平减指数：用名义GDP 与真实GDP 的比率乘以100计算的物价水平衡量指标，即：100GDP GDP GDP=⨯名义平减指数真实二、重要摘抄1.GDP 同时衡量两件事：经济中所有人的总收入和用于经济中物品与服务产出的总支出。
由于这两件事实际上是相同的，所以CDP 既衡量总收入又衡量总支出。
对一个整体经济而言，收入必定等于支出。
因为交易对经济的收入和支岀做出了相同的贡献。
GDP 衡量货币的流量。
我们可以用两种方法中的一种来计算这个经济的GDP ：加总家庭的总支出或加总企业支付的总收入（工资、租金和利润）。
2.关于GDP 计算的若干注意事项：(1).在GDP 的计算中，价值使用商品价格来量化；(2).政府通过估算租金价值而把自有房产的价值包括在GDP 中，相当于假设所有者将房屋租给自己；(3).GDP 不包括非法生产与销售的东西，如毒品；(4).GDP 不包括在家庭内生产和消费，没有进入市场的物品；(5).GDP 只包括最终物品的价值，这是因为中间物品的价值已经包括在最终物品的价格中了；如果中间物品没有被使用，而是被储存了，就将存货加到GDP 上，而当存货中的物品以后被使用或出售时，存货的减少再从GDP 中扣除；(6).GDP 包括有形的物品与无形的服务，比如演唱会票价，也是GDP 的一部分；(7).GDP 包括现期生产的物品与服务，它不包括涉及过去生产的东西的交易，因此二手车的交易不包括在GDP 内；(8).如果物品是在一国国内生产的，无论生产者的国籍如何，都包括在该国的GDP 之中。
曼昆宏观英语课件23章
CHAPTER 23
MEASURING A NATION’S INCOME
11
Gross Domestic Product (GDP) Is…
…the market value of all final goods & services produced within a country in a given period of time.
GDP includes currently produced goods, not goods produced in the past.
Firms
Factors of production Wages, rent, profit (=GDP)
CHAPTER 23
Households
Labor, land, capital Income (=GDP)
7
Markets for Factors of Production
MEASURING A NATION’S INCOME
CHAPTER 23
MEASURING A NATION’S INCOME
3
The Circular-Flow Diagram
is a simple depiction of the macroeconomy. illustrates GDP as spending, revenue, factor payments, and income. First, some preliminaries:
北大出版社_曼昆_宏观经济学_第六版_全英试题库_有答案解析_23章
Chapter 23 Measuring a Nation's IncomeMULTIPLE CHOICE1、Macroeconomists studya、 the decisions of individual households and firms、b、 the interaction between households and firms、c、 economy-wide phenomena、d、 regulations imposed on firms and unions、ANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Definitional2、Which of the following newspaper headlines is more closely related to what mi-croeconomists study than to what macroeconomists study?a、 Unemployment rate rises from 5 percent to 5、5 percent、b、 Real GDP grows by 3、1 percent in the third quarter、c、 Retail sales at stores show large gains、d、 The price of oranges rises after an early frost、ANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive3、Which of the following questions is more likely to be studied by a microeconomistthan a macroeconomist?a、 Why do prices in general rise by more in some countries than in others?b、 Why do wages differ across industries?c、 Why do national production and income increase in some periods and not in others?d、 How rapidly is GDP currently increasing?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive4、Which of the following topics are more likely to be studied by a macroeconomist thanby a microeconomist?a、 the effect of taxes on the prices of airline tickets, and the profitability ofautomobile-manufacturing firmsb、 the price of beef, and wage differences between gendersc、 how consumers maximize utility, and how prices are established in markets foragricultural productsd、 the percentage of the labor force that is out of work, and differences in averageincome from country to countryANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive5、We would expect a macroeconomist, as opposed to a microeconomist, to be particularlyinterested ina、 explaining how economic changes affect prices of particular goods、b、 devising policies to deal with market failures such as externalities and marketpower、c、 devising policies to promote low inflation、d、 identifying those markets that are competitive and those that are not competitive、ANS: C DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive6、Which of the following is not a question that macroeconomists address?a、 Why is average income high in some countries while it is low in others?b、 Why does the price of oil rise when war erupts in the Middle East?c、 Why do production and employment expand in some years and contract in others?d、 Why do prices rise rapidly in some periods of time while they are more stable inother periods?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive7、The basic tools of supply and demand area、 useful only in the analysis of economic behavior in individual markets、b、 useful in analyzing the overall economy, but not in analyzing individual markets、c、 central to microeconomic analysis, but seldom used in macroeconomic analysis、d、 central to macroeconomic analysis as well as to microeconomic analysis、ANS: D DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Supply and demandMSC: Definitional8、Which of the following statistics is usually regarded as the best single measureof a society’s economic well-being?a、 the unemployment rateb、 the inflation ratec、 gross domestic productd、 the trade deficitANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional9、GDPa、 is used to monitor the performance of the overall economy but is not the singlebest measure of a society’s economic well-being、b、 is used to monitor the performance of the overall economy and is the single bestmeasure of a society’s economic well-being、c、 is not used to monitor the performance of the overall economy but is the singlebest measure of a society’s economic well-being、d、 is not used to monitor the performance of the overall economy and is not the singlebest measure of a society’s economic well-being、ANS: B DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: DefinitionalTHE ECONOMY'S INCOME AND EXPENDITURE1、Gross domestic product measuresa、 income and expenditures、b、 income but not expenditures、c、 expenditures but not income、d、 neither income nor expenditures、ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive2、Expenditures on a nation’s domestic productiona、 are less than its domestic production、b、 are equal to its domestic production、c、 are greater than its domestic production、d、 could be less than, equal to, or greater than its domestic production、ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional3、Income generated by a nation’s domestic productiona、 is less than its domestic production、b、 is equal to its domestic production、c、 is greater than its domestic production、d、 could be less than, equal to, or greater than its domestic production、ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional4、For an economy as a whole,a、 wages must equal profit、b、 consumption must equal saving、c、 income must equal expenditure、d、 the number of buyers must equal the number of sellers、ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive5、Which of the following statements about GDP is correct?a、 GDP measures two things at once: the total income of everyone in the economyand the total expenditure o n the economy’s output of goods and services、b、 Money continuously flows from households to firms and then back tohouseholds, and GDP measures this flow of money、c、GDP is generally regarded as the best single measure of a society’seconomic well-being、d、 All of the above are correct、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive6、Because every transaction has a buyer and a seller,a、 GDP is more closely associated with a n economy’s income than it is withan economy’s expenditure、b、every transaction contributes equally to an economy’s income and to itsexpenditure、c、 the number of firms must be equal to the number of households in a simplecircular-flow diagram、d、 f irms’ profits are necessarily zero in a simple circular-flow diagram、ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Interpretive7、For an economy as a whole, income must equal expenditure becausea、 the number of firms is equal to the number of households in an economy、b、 individuals can only spend what they earn each period、c、 every dollar of spending by some buyer is a dollar of income for someseller、d、 every dollar of saving by some consumer is a dollar of spending by someother consumer、ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Interpretive8、If an economy’s GDP falls, then it must be the case that the economy’sa、 income falls and saving rises、b、 income and saving both fall、c、 income falls and expenditure rises、d、 income and expenditure both fall、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive9、If an economy’s GDP rises, then it must be the case that the economy’sa、 income rises and saving falls、b、 income and saving both rise、c、 income rises and expenditure falls、d、 income and expenditure both rise、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive10、Which of the following statements about GDP is correct?a、 GDP measures two things at once: the total income of everyone in the economyand the unemployment rate of the economy’s labor force、b、 Money continuously flows from households to government and then back tohouseholds, and GDP measures this flow of money、c、GDP is to a nation’s economy as household income is to a household、d、 All of the above are correct、ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive11、In a simple circular-flow diagram, total income and total expenditure area、 never equal because total income always exceeds total expenditure、b、seldom equal because of the ongoing changes in an economy’s unemploymentrate、c、 equal only when the government purchases no goods or services、d、 always equal because every transaction has a buyer and a seller、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive12、In a simple circular-flow diagram,a、 households spend all of their income、b、 all goods and services are bought by households、c、 expenditures flow through the markets for goods and services, while incomeflows through the markets for the factors of production、d、 All of the above are correct、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive13、In a simple circular-flow diagram, firms use the money they get from a saletoa、 pay wages to workers、b、 pay rent to landlords、c、pay profit to the firms’ owners、d、 All of the above are correct、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional14、In a simple circular-flow diagram, households buy goods and services withthe income they get froma、 wages、b、 rents、c、 profits、d、 All of the above are correct、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional15、In the actual economy, householdsa、 spend all of their income、b、 divide their income among spending, taxes, and saving、c、 buy all goods and services produced in the economy、d、 Both (a) and (c) are correct、ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive16、Total income from the domestic production of final goods and services equalsa、 only household expenditures for these goods、b、 only household and business expenditures for these goods、c、 only household and government expenditures for these goods、d、 the expenditures for these goods whoever buys them、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Definitional17、In the actual economy, goods and services are purchased bya、 households, but not firms or the government、b、 households and firms, but not the government、c、 households and the government, but not firms、d、 households, firms, and the government、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive18、According to the circular-flow diagram GDPa、 can be computed as the total income paid by firms or as expenditures onfinal goods and services、b、 can be computed as the total income paid by firms, but not as expenditureson final goods and services、c、 can be computed as expenditures on final goods and services, but not asthe total income paid by firms、d、 cannot be computed as either total income paid by firms or expenditureson final goods and services、ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Definitional19、According to the circular-flow diagram GDPa、 can be computed as either the revenue firms receive from the sales of goodsand services or the payments they make to factors of production、b、 can be computed as the revenue firms receive from the sales of goods andservices but not as the payments they make to factors of production、c、 can be computed as payments firms make to factors of production but notas revenues they receive from the sales of goods and services、d、 cannot be computed as either the revenue firms receive or the payments theymake to factors of production、ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: DefinitionalTHE MEASUREMENT OF GROSS DOMESTIC PRODUCT1、GDP is defined as thea、 value of all goods and services produced within a country in a given periodof time、b、 value of all goods and services produced by the citizens of a country,regardless of where they are living, in a given period of time、c、 value of all final goods and services produced within a country in a givenperiod of time、d、 value of all final goods and services produced by the citizens of a country,regardless of where they are living, in a given period of time、ANS: C DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Domestic productionMSC: Definitional2、Which of the following is a way to compute GDP?a、 add up the wages paid to all workersb、 add up the quantities of all final goods and servicesc、 add up the market values of all final goods and servicesd、 add up the difference between the market values of all final goods andservices and then subtract the costs of producing those goods and services ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive3、In order to include many different goods and services in an aggregate measure,GDP is computed using, primarily,a、 values of goods and services based on surveys of consumers、b、 market prices、c、 quantities purchased by a typical urban household、d、 profits from producing goods and services、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive4、Gross domestic product adds together many different kinds of goods andservices into a single measure of the value of economic activity、 To do this, GDP makes use ofa、 market prices、b、 statistical estimates of the value of goods and services to consumers、c、 prices based on the assumption that producers make no profits、d、 the maximum amount consumers would be willing to pay、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive5、In computing GDP, market prices are used to value final goods and servicesbecausea、 market prices do not change much over time, so it is easy to make comparisonsbetween years、b、 market prices reflect the values of goods and services、c、 market prices reflect the quantity sold、d、 None of the above is correct; market prices are not used in computing GDP、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive6、If the price of a Blu-Ray Disc player is three times the price of an MP3 player,then a Blue-Ray Disc player contributesa、 more than three times as much to GDP as does a MP3 player、b、 less than three times as much to GDP as does a MP3 player、c、 exactly three times as much to GDP as does a MP3 player、d、 None of the above is necessarily correct、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative7、Suppose that an economy produces 40,000 units of good A which sells at $4a unit and 20,000 units of good B which sells at $5 per unit、 Productionof good A contributesa、 2 times as much to GDP as the production of good B、b、 8/5 times as much to GDP as the production of good B、c、 5/4 times as much to GDP as the production of good B、d、 4/5 times as much to GDP as production of good B、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative8、Suppose that an economy produces 30,000 units of good A which sells at $3a unit and 60,000 units of good B which sells at $2 per unit、 Productionof good A contributesa、 1/2 times as much to GDP as the production of good B、b、 3/2 times as much to GDP as the production of good B、c、 3/4 times as much to GDP as the production of good B、d、 4/3 times as much to GDP as production of good B、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative9、Which of the following is included in GDP?a、 the market value of rental housing services, but not the market value ofowner-occupied housing services、b、 the market value of owner-occupied housing services, but not the marketvalue of rental housing servicesc、 both the market value of rental housing services and the market value ofowner-occupied housing servicesd、 neither the market value of owner-occupied housing services nor the marketvalue of rental housing services、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Definitional10、The value of the housing services provided by the economy's owner-occupiedhouses isa、 included in GDP, and the estimated rental values of the houses are usedto place a value on these housing services、b、 included in GDP, and the actual mortgage payments made on the houses areused to estimate the value of these rental services、c、 excluded from GDP since these services are not sold in any market、d、 excluded from GDP since the value of these housing services cannot beestimated with any degree of precision、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Definitional11、Suppose an apartment complex converts to a condominium, so that the formerrenters are now owners of their housing units、 Suppose further that a current estimate of the value of the condominium owners' housing services is the same as the rent they previously paid、 What happens to GDP as a result of this conversion?a、 GDP necessarily increases、b、 GDP necessarily decreases、c、 GDP is unaffected because neither the rent nor the estimate of the valueowner-occupied housing services is included in GDP、d、 GDP is unaffected because previously the rent payments were included inGDP and now the rent payments are replaced in GDP by the estimate of thevalue of owner occupied housing services、ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative12、James owns two houses、 He rents one house to the Johnson family for $10,000per year、 He lives in the other house、 If he were to rent the house in which he lives, he could earn $12,000 per year in rent、 How much do the housing services provided by the two houses contribute to GDP?a、 $0b、 $10,000c、 $12,000d、 $22,000ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative13、Ryan lives in an apartment where he pays $7,000 a year in rent、 Alexislives in a house that could be rented for $14,000 a year、 How much do these housing services contribute to GDP?a、 $21,000b、 $14,000c、 $7,000d、 $0ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative14、Most goods and services produced at homea、 and most goods and services produced illegally are included in GDP、b、 are included in GDP while most goods and services produced illegally areexcluded from GDP、c、 are excluded from GDP while most goods and services produced illegally areincluded in GDPd、 and most goods and services produced illegally are excluded from GDP、ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Household chores | Illegal goods MSC: Definitional15、GDP excludes most items that are produced and sold illegally and most itemsthat are produced and consumed at home becausea、 the quality of these items is not high enough to contribute value to GDP、b、 measuring them is so difficult、c、 the government wants to discourage the production and consumption of theseitems、d、 these items are not reported on income tax forms、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Interpretive16、Estimates of the values of which of the following non-market goods or servicesare included in GDP?a、 the value of unpaid houseworkb、 the value of services provided by major household appliances purchased ina previous periodc、 the estimated rental value of owner-occupied homesd、 All of the above are included in GDP、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Housing services | Household chores MSC: Applicative17、Over the last few decades, Americans have chosen to cook less at home andeat more at restaurants、 This change in behavior, by itself, hasa、 reduced measured GDP、b、 not affected measured GDP、c、 increased measured GDP by the value of the restaurant meals、d、increased measured GDP by the value added by the restaurant’s preparationand serving of the meals、ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative18、Over time, people have come to rely more on market-produced goods and servicesand less on goods and services they produce for themselves、 For example, busy people with high incomes, rather than cleaning their own houses, hire people to clean their houses、 By itself, this change hasa、 caused measured GDP to fall、b、 not caused any change in measured GDP、c、 caused measured GDP to rise、d、 probably changed measured GDP, but in an uncertain direction; the directionof the change depends on the difference in the quality of the cleaning thathas resulted、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative19、Ralph pays someone to mow his lawn, while Mike mows his own lawn、 Regardingthese two practices, which of the following statements is correct?a、Only Ralph’s payments are included in GDP、b、Ralph’s payments as well as the estimated value of Mike’s mowing servicesare included in GDP、c、Neither Ralph’s payments nor the estimated value of Mike's mowing servicesis included in GDP、d、Ralph’s payments are included in GDP, while the estimated value of Mike’smowing services is included in GDP only if Mike voluntarily provides hisestimate of that value to the government、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Interpretive20、Susan switches from going to Speedy Lube for an oil change to changing theoil in her car herself、 Which of the following is correct? The value of changing the oil isa、 included in GDP whether Susan pays Speedy Lube to change it or changes itherself、b、 included in GDP if Susan pays Speedy Lube to change it but not if she changesit herself、c、 included in GDP if Susan changes it herself, but not if she pays SpeedyLube to change it、d、 not included in GDP whether Susan pays Speedy lube to change it or shechanges it herself、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative21、Rachel babysits for her sister for no pay、 When she babysits for someoneelse she charges $8 an hour、When is Rachel’s babysitt ing included in GDP?a、 When she babysits for her sister and when she babysits for someone else、b、 When she babysits for her sister, but not when she babysits for someoneelse、c、 When she babysits for someone else, but not when she babysits for hersister、d、 Neither when she babysits for her sister nor for someone else、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive22、Which of the following is not included in GDP?a、 carrots grown in your garden and eaten by your familyb、carrots purchased at a farmer’s market and eaten by your familyc、 carrots purchased at a grocery store and eaten by your familyd、 None of the above are included in GDP、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative23、 A professional gambler moves from a state where gambling is illegal to a statewhere gambling is legal、 Most of his income was, and continues to be, from gambling、 His movea、 raises GDP、b、 decreases GDP、c、 doesn't change GDP because gambling is never included in GDP、d、 doesn't change GDP because in either case his income is included、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative24、If a state made a previously-illegal activity, such as gambling orprostitution, legal, then, other things equal, GDPa、 decreases、b、 increases、c、 doesn't change because both legal and illegal production are included inGDP、d、 doesn't change because these activities are never included in GDP、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative25、Which of the following is included in GDP?a、 medical marijuana purchased from a government-run pharmacy by a glaucomapatientb、 recreational marijuana purchased from a drug dealer by a college studentc、 recreational marijuana produced and consumed by a man in his atticd、 All of the above are included in GDP、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative26、Darin grows and sells marijuana to Jennifer、 Thomas is an organic farmerwho sells broccoli to Jennifer、 Marijuana is an illegal good and broccoli is a legal good、 Assume that if Jennifer marries either, they give her whatthey use to sell her、 Which of the following statements is consistent with the way GDP is computed?a、 GDP will fall if Jennifer marries either Darin or Thomas、、b、 GDP will fall if Jennifer marries Darin but not if she marries Thomas、c、 GDP will fall if Jennifer marries Thomas but not if she marries Darin、d、 GDP remains the same whether Jennifer marries Darin or Thomas、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative27、Spots, Inc、 produces ink and sells it to Write on Target, which makes pens、The ink produced by Spots, Inc、 is calleda、 an inventory good、b、 a transitory good、c、 a final good、d、 an intermediate good、ANS: D DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goodsMSC: Definitional28、The purchase of rice produced this period is included in GDP if the rice isa、 used in a meal a restaurant sells during the same period they buy the rice、b、 purchased by a family who uses it to make tuna casserole for its supper、c、 purchased by a frozen food company to increase its inventory、d、 B and C are correct、ANS: D DIF: 3 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goodsMSC: Interpretive29、 A farmer sells $50,000 of apples to individuals who take them home to eatand $75,000 of apples to a company that uses them all to produce cider、 How much of the farmer’s sales will be included as apples in GDP?a、 $0b、 $50,000c、 $75,000d、 $125,000ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goodsMSC: Applicative。
曼昆宏观第23章作业答案
2、一位农民收获了1蒲式耳小麦，并以$1.00将这些小麦卖给了面粉厂。
面粉厂将这些小麦磨成面粉，并以$3.00将这些面粉卖给了面包厂。
面包厂用这些面粉做成面包，并以$6.00将这些面包卖给了工程师。
工程师吃掉了这些面包。
计算：每一阶段上的价值增值；国内生产总值（GDP）解：每个人的增加值是商品的价值减去生产该产品所需材料的价值。
因此，农民的增加值是1美元；面粉厂的增加值是2美元；它以3美元的价格将免费卖给面包师，花1美元买小麦。
面包师的增加值是3美元；他以6美元的价格将面包卖给工程师而花了3美元买面粉。
GDP即为增加值的总和，即1+2+3=6美元3、假设一个妇女嫁给了其男管家，在他们结婚后，她丈夫像以前一样照顾她，而且她也继续像以前一样养活他。
结婚如何影响GDP。
答：从GDP衡量内容来看，妇女嫁给其男管家后，GDP下降的额度=男管家的工资，因为男管家的工资没了，总收入GDP随之下降。
这是因为GDP没有真正衡量所有产品和服务的价值。
如果GDP完美衡量所有经济中的产出，则其数值不变，因为经济活动的总量并没有发生变化。
然而真实的GDP只是经济活动的一个不完整指标，一些产品服务被遗漏。
一旦男管家的工作变成家务活，他的服务就不计入6、考虑一个生产并消费面包和汽车的经济。
下表中是两个不同年份的数据。
（1）以2000年作为基年，计算每年的名义GDP，实际GDP，GDP 平减指数以及像CPI这样的固定加权物价指数。
解：名义GDP2000=（P汽车2000*Q汽车2000）+（P面包2000*Q面包2000）=10，000，000名义GDP2010=（P汽车2010*Q汽车2010）+（P面包2010*Q面包2010）=15，200，000实际GDP2010=（P汽车2000*Q汽车2010）+（P面包2000*Q面包2010）=10，000，0002010年隐含的价格平减指数=名义GDP2010/实际GDP2010*100=152 CPI2010=[ P汽车2010*Q汽车2000）+（P面包2010*Q面包2000）]/[（P汽车2000*Q汽车2000）+（P面包2000*Q面包2000）]=1.6（2）在2000年到2010年之间，物价上涨了多少？比较拉斯拜尔指数和帕氏指数给出答案。
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THE COMPONENTS OF GDP
• GDP (Y) is the sum of the following:
– Consumption (C) – Investment (I) – Government Purchases (G) – Net Exports (NX)
Y = C + I + G + NX
• Macroeconomics
– Macroeconomics is the study of the economy as a whole. – Its goal is to explain the economic changes that affect many households, firms, and markets at once.
Labor, land, and capital Income = Flow of inputs and outputs
= Flow of dollars
Copyright © 2004 South-Western
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• GDP (gross domestic product) is the market
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• ―. . . Produced . . .‖
– It includes goods and services currently produced, not transactions involving goods produced in the past.
• ― . . . Within a Country . . .‖
– It measures the value of production within the geographic confines of a country.
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
– The spending on capital equipment, inventories, and structures, including new housing.
THE COMPONENTS OF GDP
• Government Purchases (G):
– The spending on goods and services by local, state, and federal governments. – Exclude transfer payments. why?
THE COMPONENTS OF GDP
• Consumption (C):
– The spending by households on goods and services, with the exception of purchases of new housing.
• Investment (I):
• ―. . . 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).
• 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. – Underground economy
Content
• The economy’s income and expenditure • The measurement of gross domestic product • The components of GDP • Real versus nominal GDP
• Is GDP a good measure of economic wellbeing?
about the definition of GDP, explain why
transfer payments are excluded.
Table 1 GDP and Its Components
Copyright©2004 South-Western
GDP and Its Components (2001)
• A real estate intermediary has sold an old house to a consumer, does this transaction have any contribute to GDP. Explain.
Other Measures of Income
• Gross national product (GNP)
THE ECONOMY’S INCOME AND EXPENDITURE
• For 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.
– Output is valued at market prices.
• ―. . . Of All Final . . .‖
– It records only the value of final goods, not intermediate goods (the value is counted only once).
• ―. . . Goods and Services . . . ‖
– It includes both tangible goods (food, clothing, cars) and intangible services (haircuts, housecleaning, doctor visits).
THE ECONOMY’S INCOME AND EXPENDITURE
• When 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.
• GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economy’s output of goods and services.
MARKETS FOR GOODS AND SERVICES •Firms sell Goods •Households buy and services sold Revenue
Spending Goods and services bought
FIRMS •Produce and sell goods and services •Hire and use factors of production
Discussion
• Which contributes more to GDP——the production of an economy car or the production of a luxury car? Why? • A farmer sells wheat to a baker for $2. The baker uses the wheat to make bread, which is sold for $3. what is the total contribution of these transaction to GDP?
• Net national product (NNP)
– GNP-Dis.
• National income (NI)
– NDP-tax
• Personal income (PI)
• Disposable personal income (DPI)
THE COMPONENTS OF GDP
• GDP includes all items produced in the economy and sold legally in markets. • What Is Not Counted in GDP?
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• The equality of income and expenditure can be
illustrated with the circular-flow diagram.
Figure 1 Thelue of all final goods and services produced within a country in a given period of time.
THE MEASUREMENT OF GROSS DOMESTIC PRODUCT
• ―GDP is the Market Value . . .‖