宏观经济学的数据.ppt

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

2、onsumerpriceindex(CPI)measuresthelevelofprices.Theunemploymentratetellsusthefractionofworkerswhoareunemployed.2TwowaysofviewingGDPTotalincomeofeveryoneintheeconomyTotalexpenditureontheeconomy’soutputofgoodsandservicesHouseholdsFirmsIncome$LaborGoodsExpenditure$Forthe

3、economyasawhole,incomemustequalexpenditure.GDPmeasurestheflowofdollarsintheeconomy.Income,Expenditure,AndtheCircularFlow3RulesforComputingGDP1)Tocomputethetotalvalueofdifferentgoodsandservices,thenationalincomeaccountsusemarketprices.Thus,if$0.50$1.00GDP=(Priceofappl

4、esQuantityofapples)+(PriceoforangesQuantityoforanges)=($0.504)+($1.003)GDP=$5.002)UsedgoodsarenotincludedinthecalculationofGDP.3)Thetreatmentofinventoriesdependsonifthegoodsarestoredoriftheyspoil.Ifthegoodsarestored,theirvalueisincludedinGDP.Iftheyspoil,GDPremain

5、sunchanged.Whenthegoodsarefinallysoldoutofinventory,theyareconsideredusedgoods(andarenotcounted).4MoreRulesforComputingGDP4)IntermediategoodsarenotcountedinGDP–onlythevalueoffinalgoods.Reason:thevalueofintermediategoodsisalreadyincludedinthemarketprice.Valueaddedofaf

6、irmequalsthevalueofthefirm’soutputlessthevalueoftheintermediategoodsthefirmpurchases.5)Somegoodsarenotsoldinthemarketplaceandthereforedon’thavemarketprices.Wemustusetheirimputedvalueasanestimateoftheirvalue.Forexample,homeownershipandgovernmentservices.5Realvs.Nomina

7、lGDPThevalueoffinalgoodsandservicesmeasuredatcurrentpricesiscallednominalGDP.Itcanchangeovertime,eitherbecausethereisachangeintheamount(realvalue)ofgoodsandservicesorachangeinthepricesofthosegoodsandservices.Hence,nominalGDPY=Py,wherePisthepricelevelandyisrealoutput

8、—andrememberweuseoutputandGDPinterchangeably.RealGDPor,y=YPisthevalueofgoodsandservicesmeasuredusingaconstantsetofprices.Thisdisti