宏观经济学的数据

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1、®CHAPTER2TheDataofMacroeconomicsMANKIW'SMACROECONOMICSMODULESAPowerPointTutorialToAccompanyMACROECONOMICS,6th.ed.N.GregoryMankiw1GDP,CPI,andUemploymentGrossDomesticProduct(GDP)isthedollarvalueofallfinalgoodsandservicesproducedwithinaneconomyinagivenperiodoft

2、ime.Theconsumerpriceindex(CPI)measuresthelevelofprices.Theunemploymentratetellsusthefractionofworkerswhoareunemployed.2TwowaysofviewingGDPTotalincomeofeveryoneintheeconomyTotalexpenditureontheeconomy’soutputofgoodsandservicesHouseholdsFirmsIncome$LaborGoodsEx

3、penditure$Fortheeconomyasawhole,incomemustequalexpenditure.GDPmeasurestheflowofdollarsintheeconomy.Income,Expenditure,AndtheCircularFlow3RulesforComputingGDP1)Tocomputethetotalvalueofdifferentgoodsandservices,thenationalincomeaccountsusemarketprices.Thus,if$0

4、.50$1.00GDP=(PriceofapplesQuantityofapples)+(PriceoforangesQuantityoforanges)=($0.504)+($1.003)GDP=$5.002)UsedgoodsarenotincludedinthecalculationofGDP.3)Thetreatmentofinventoriesdependsonifthegoodsarestoredoriftheyspoil.Ifthegoodsarestored,theirvalueisinc

5、ludedinGDP.Iftheyspoil,GDPremainsunchanged.Whenthegoodsarefinallysoldoutofinventory,theyareconsideredusedgoods(andarenotcounted).4MoreRulesforComputingGDP4)IntermediategoodsarenotcountedinGDP–onlythevalueoffinalgoods.Reason:thevalueofintermediategoodsisalread

6、yincludedinthemarketprice.Valueaddedofafirmequalsthevalueofthefirm’soutputlessthevalueoftheintermediategoodsthefirmpurchases.5)Somegoodsarenotsoldinthemarketplaceandthereforedon’thavemarketprices.Wemustusetheirimputedvalueasanestimateoftheirvalue.Forexample,h

7、omeownershipandgovernmentservices.5Realvs.NominalGDPThevalueoffinalgoodsandservicesmeasuredatcurrentpricesiscallednominalGDP.Itcanchangeovertime,eitherbecausethereisachangeintheamount(realvalue)ofgoodsandservicesorachangeinthepricesofthosegoodsandservices.Hen

8、ce,nominalGDPY=Py,wherePisthepricelevelandyisrealoutput—andrememberweuseoutputandGDPinterchangeably.RealGDPor,y=YPisthevalueofgoodsandservicesmeasuredusingaconstantsetofprices.Thisdisti