巴罗 宏观经济学现代观点 第2章.pptx

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Nominal GDP
the dollar (or euro, etc.) value of all the goods and services that an economy produces during a specified period, such as a year.
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Nominal GDP
Flow variable - it measures the dollar amount of goods produced per unit of time, such as a year.
GDP in current dollars
Services by government: measured by costs
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Real GDP
Calculating Real GDP
GDP in constant dollars
Multiply each year’s quantity of output of each good by the price of the good in a base year.
Chain-weighted real GDP
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Calculations
(nominal GDP)/(implicit price level)
= real GDP
or
implicit price level
= (nominal GDP)/(real GDP)
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GDP as a Welfare Measure
GDP does not:
Consider change in e distribution
Include non-market goods.
Assign value to leisure.
Consider environmental damage.
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GDP by Expenditure
Personal Consumption Expenditures
Gross Private Domestic Investment
Government purchases of Goods and Services
Exports and Imports
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Measuring GDP by e
National e – e earned by factors of production.
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Relationship between GDP and National e