国际经济学第七课2011讲解学习
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National income is often defined to be the income earned by a nation’s factors of production.
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
Preview
• National income accounts
measures of national income measures of value of production measures of value of expenditure
• National saving, investment, and the current account
What are factors of production? Factors that are used to produce goods and services: workers (labor services), physical capital (like buildings and equipment), natural resources and others.
The value of final goods and services produced by US-owned factors of production are counted as US GNP.
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
Chapter 12
National Income Accounting and the Balance of Payments
Slides prepared by Thomas Bishop
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
Producers earn income from buyers who spend money on goods and services.
The amount of expenditure by buyers = the amount of income for sellers = the value of production.
• Balance of payments accounts
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
12-2
National Income Accounts
• Records the value of national income that results from production and expenditure.
12-3
National Income Accounts: GNP
• Gross national product (GNP) is the value of all final goods and services produced by a nation’s factors of production in a given time period.
12-4
Fig. 12-1: U.S. GNP and Its Components
Hale Waihona Puke Baidu
Source: U.S. Department of Commerce, Bureau of Economic Analysis
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
• Gross domestic product measures the final value of all goods and services that are produced within a country in a given time period.
• GDP = GNP – payments from foreign countries for factors of production + payments to foreign countries for factors of production
12-6
National Income Accounts
• GNP is one measure of national income, but a more precise measure of national income is GNP adjusted for following:
1. Depreciation of physical capital results in a loss of income to capital owners, so the amount of depreciation is subtracted from GNP.
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
2. Unilateral transfers to and from other countries can change national income: payments of expatriate workers sent to their home countries, foreign aid and pension payments sent to expatriate retirees
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
12-7
National Income Accounts (cont.)
• Another approximate measure of national income is gross domestic product (GDP):
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
Preview
• National income accounts
measures of national income measures of value of production measures of value of expenditure
• National saving, investment, and the current account
What are factors of production? Factors that are used to produce goods and services: workers (labor services), physical capital (like buildings and equipment), natural resources and others.
The value of final goods and services produced by US-owned factors of production are counted as US GNP.
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
Chapter 12
National Income Accounting and the Balance of Payments
Slides prepared by Thomas Bishop
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
Producers earn income from buyers who spend money on goods and services.
The amount of expenditure by buyers = the amount of income for sellers = the value of production.
• Balance of payments accounts
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
12-2
National Income Accounts
• Records the value of national income that results from production and expenditure.
12-3
National Income Accounts: GNP
• Gross national product (GNP) is the value of all final goods and services produced by a nation’s factors of production in a given time period.
12-4
Fig. 12-1: U.S. GNP and Its Components
Hale Waihona Puke Baidu
Source: U.S. Department of Commerce, Bureau of Economic Analysis
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
• Gross domestic product measures the final value of all goods and services that are produced within a country in a given time period.
• GDP = GNP – payments from foreign countries for factors of production + payments to foreign countries for factors of production
12-6
National Income Accounts
• GNP is one measure of national income, but a more precise measure of national income is GNP adjusted for following:
1. Depreciation of physical capital results in a loss of income to capital owners, so the amount of depreciation is subtracted from GNP.
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
2. Unilateral transfers to and from other countries can change national income: payments of expatriate workers sent to their home countries, foreign aid and pension payments sent to expatriate retirees
Copyright © 2009 Pearson Addison-Wesley. All rights reserved.
12-7
National Income Accounts (cont.)
• Another approximate measure of national income is gross domestic product (GDP):