怎么计算GDP

Essay question #1
a.Example: During the year of 2010, Starbucks U.S. buys coffee beans from Kana
Company in Cuba for $300 and sugar from Atlantica Company in Brazil for $50.
Starbucks spends $50 on advertising from Ogilvy&Mather in New York.
Starbucks pays its employees $80. Starbucks sells coffee in U.S. for $500, making
a profit of $20.
Explanation: The net GDP impact is $500 of final consumption minus the $350 of
imports =$150. Starbucks purchases $300+$50+$50=$400 from 3rd parties and
adds value of $500-$400=$100, which is divided by the employees of $80 and
profit of $20.
b. 3 kinds of spending in the economy that are either excluded or deducted from
Calculating GDP:
1.)Purchases of existing houses: it is not part of the investment expenditure
because residential investment only refers to the purchase of new houses
and apartments. Existing houses were produced in earlier periods.
2.)Transfers paid by government: it is not part of the government spending
because they are not payments in exchange for currently produced goods
and services. Government payments for Social Security, Medicare, and
unemployment insurance benefits are transfers from one segment of society
- healthy, working people to another segment of society - the elderly, sick and
jobless.
3.)Interest payments on government debt: It is not part of the government
spending because the interest payments are not made in exchange for goods
and services.
c.Consumption is the total spending of currently produced consumer goods and
services. Consumption is by far the largest component of GDP and was 70.8% in
2009. It consists of 3 basic categories: consumer durable goods, nondurable
goods, and services. Investment is spending on currently produced capital goods
that are used to produce goods and services over an extended period of time.
Investment was 11.4% of GDP in 2009. It consists of 3 basic categories: fixed
income, inventory investment and residential investment. Government
purchases is spending by the government on currently produced goods and
services. Government purchases was 20.6% in 2009. Net exports are exports
minus imports, which is the value of currently produced goods and services
exported or sold to other countries minus the value of goods and services
imported of purchased from aboard. Net exports is -2.7% in 2009, in which
exports at 11.0% of GDP and imports at 13.7%at GDP. Y=C+I+G+NX, where
Y=GDP=the value of total output=supply of goods and services.
C+I+G+NX=aggregate expenditure=demand for goods and services. When people
do accounting calculation, unsold output goes into inventory, and it is counted as
inventory investment, no matter the change is intentional or not. In effect, we
are assuming that firms purchase their unsold output.
d.In every transaction, the buyer’s expenditure becomes the seller’s incom
e. Thus,
the sum of all expenditure equals the sum of all income. In the U.S. economy,
shares of income to labor is 67% and shares of owners of capital is 33%, and it is
quite stable over past 50 years near 70:30. In chapter 3, when we talk about the Cobb-Douglas production function, we use 0.3 and 0.7 in the formula because the shares of labor and capital income in the U.S. economy have remained constantly at about 70% labor and 30% capital.
#4
a. 1.) Without improving technology, living standards Y/L tend to settle down to a
stable level
2.) Improving Technology arises from devoting resources to “producing” it and
from the productivity of those resources, which is affected by managerial/entrepreneurial skills.
3.) Improving Technology raises living standards from the existing L and K.
4.) Greater output lead to more saving which leads to more investment through
investment via financial markets and interest rate adjustment.
5.) Improving technology also raises K/L, which amplifies the effect on Y/L.
b.。