Ch10 Measuring a nations income - tài liệu tham khảo | Đài học Hoa Sen

Ch10 Measuring a nations income - tài liệu tham khảo | Đài học Hoa Sen và thông tin bổ ích giúp sinh viên tham khảo, ôn luyện và phục vụ nhu cầu học tập của mình cụ thể là có định hướng, ôn tập, nắm vững kiến thức môn học và làm bài tốt trong những bài kiểm tra, bài tiểu luận, bài tập kết thúc học phần, từ đó học tập tốt và có kết quả cao cũng như có thể vận dụng tốt những kiến thức mình đã học.

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Môn: Corporate Finance (CF2033)

Trường: Đại học Hoa Sen

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Profile Kim Oanh
Interactive PowerPoint Slides by:
V. Andreea Chiritescu
Eastern Illinois University
Measuring a Nation’s
Income
CHAPTER
NINTH EDITION
N. GREGORY MANKIW
PRINCIPLES OF
MACRO
ECONOMICS
1
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
• What is Gross Domestic Product ( )? GDP
• How is related to a nation’s total income GDP
and spending?
• What are the components of ? GDP
• How is corrected for inflation?GDP
• Does measure society’s well-being?GDP
IN THIS CHAPTER
2
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
Economics
• Microeconomics
– Study of how households and firms
• Make decisions
• Interact in markets
• Macroeconomics
– Study of economy-wide phenomena
• Including inflation, unemployment, and
economic growth
3
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
Income and Expenditure
• Gross Domestic Product ( ) GDP
– Measures total income of everyone in the
economy.
– Also measures total expenditure on the
economy’s output of goods and services.
• Income equals expenditure
– For the economy as a whole
– Because every dollar a buyer spends
is a dollar of income for the seller.
4
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
Active Learning 1: Income equals expenditure
• Nalah pays James $50 to mow her lawn.
A. What happens with total expenditure?
B. What happens with total income?
5
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
The Circular-Flow
• The Circular-Flow Diagram
– Simple depiction of the macroeconomy
– Illustrates as spending, revenue, GDP
factor payments, and income
• Preliminaries:
– Factors of production: inputs like labor,
land, capital, and natural resources.
– Factor payments: payments to the factors
of production (e.g., wages, rent).
6
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
The circular-flow diagram – 1
Households:
own the factors of production, sell or
rent them to firms for income
buy and consume goods & services
Households
Firms
Firms:
Buy or hire factors of production, use
them to produce goods and services
sell goods & services
7
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
The circular-flow diagram – 2
Markets for
Factors of
Production
Households
Firms
Income (=GDP)
Wages, rent, and
profit (=GDP)
Factors of
production
Labor, land,
capital
Spending (=GDP)
Goods and
services bought
Goods and
services sold
Revenue (=GDP)
Markets for
Goods &
Services
8
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
What This Diagram Omits
• The government
– Collects taxes, buys goods and services
• The financial system
– Matches savers’ supply of funds with
borrowers’ demand for loans
• The foreign sector
– Trades goods and services, financial
assets, and currencies with the country’s
residents
9
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
Gross Domestic Product ( ) Is… – 1 GDP
• …the market value of all final goods &
services produced within a country
in a given period of time.
• Goods are valued at their market prices, so:
– All goods measured in the same units
(e.g., dollars in the U.S.)
– Things that don’t have a market value are
excluded, e.g., housework you do for
yourself.
10
© 2021 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
®
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
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N. GREGORY MANKIW NINTH EDITION PRINCIPLES OF MACRO ECONOMICS CHAPTER Measuring a Nation’s Income
Interactive PowerPoint Slides by: V. Andreea Chiritescu Eastern Illinois University
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use. 1 IN THIS CHAPTER
• What is Gross Domestic Product (GDP)?
• How is GDP related to a nation’s total income and spending?
• What are the components of GDP?
• How is GDP corrected for inflation?
• Does GDP measure society’s well-being?
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 2
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use. Economics • Microeconomics
– Study of how households and firms • Make decisions • Interact in markets • Macroeconomics
– Study of economy-wide phenomena
• Including inflation, unemployment, and economic growth
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 3
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use. Income and Expenditure
• Gross Domestic Product (GDP)
– Measures total income of everyone in the economy.
– Also measures total expenditure on the
economy’s output of goods and services. • Income equals expenditure – For the economy as a whole
– Because every dollar a buyer spends
is a dollar of income for the seller.
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 4
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
Active Learning 1: Income equals expenditure
• Nalah pays James $50 to mow her lawn.
A. What happens with total expenditure?
B. What happens with total income?
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 5
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use. The Circular-Flow • The Circular-Flow Diagram
– Simple depiction of the macroeconomy
– Illustrates GDP as spending, revenue, factor payments, and income • Preliminaries:
– Factors of production: inputs like labor,
land, capital, and natural resources.
– Factor payments: payments to the factors
of production (e.g., wages, rent).
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 6
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
The circular-flow diagram – 1 Households:
own the factors of production, sell or rent them to firms for income
buy and consume goods & services Firms Households Firms:
Buy or hire factors of production, use
them to produce goods and services sell goods & services
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 7
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
The circular-flow diagram – 2 Revenue (=GDP) Spending (=GDP) Markets for Goods and Goods & Goods and services sold Services services bought Firms Households Factors of Labor, land, production Markets for capital Factors of Wages, rent, and Production Income (=GDP) profit (=GDP)
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 8
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use. What This Diagram Omits • The government
– Collects taxes, buys goods and services • The financial system
– Matches savers’ supply of funds with borrowers’ demand for loans • The foreign sector
– Trades goods and services, financial
assets, and currencies with the country’s residents
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 9
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.
Gross Domestic Product (GDP) Is… – 1
• …the market value of all final goods &
services produced within a country in a given period of time.
• Goods are valued at their market prices, so:
– All goods measured in the same units (e.g., dollars in the U.S.)
– Things that don’t have a market value are
excluded, e.g., housework you do for yourself.
© 2021 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a 10
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for classroom use.