1907 Ch11 National Income Accounting Economics ECONOMICS MANAGEMENT SCHOOL,TONGJI UNIVERSITY
Economics ECONOMICS & MANAGEMENT SCHOOL, TONGJI UNIVERSITY Ch11 National Income Accounting
13-2 0 例 Topics Economy's Income and Expenditure Gross Domestic Product Consumer Price Index(CPI) Economics ECONOMICS MANAGEMENT SCHOOL,TONGJI UNIVERSITY
Economics ECONOMICS & MANAGEMENT SCHOOL, TONGJI UNIVERSITY 13-2 Topics Economy’s Income and Expenditure Gross Domestic Product Consumer Price Index (CPI)
190 13-3 3树 11.1 ECONOMY'S INCOME AND EXPENDITURE For an economy as a whole,income must equal expenditure because: -Every transaction has a buyer and a seller. Every dollar of spending by some buyer is a dollar of income for some seller. Economics ECONOMICS MANAGEMENT SCHOOL,TONGJI UNIVERSITY
Economics ECONOMICS & MANAGEMENT SCHOOL, TONGJI UNIVERSITY 13-3 11.1 ECONOMY’S INCOME AND EXPENDITURE For an economy as a whole, income must equal expenditure because: – Every transaction has a buyer and a seller. – Every dollar of spending by some buyer is a dollar of income for some seller
13-4 0 11.2 GROSS DOMESTIC PRODUCT Gross domestic product (GDP)is a measure of the income and expenditures of an economy. It is the total market value of all final goods and services produced within a country in a given period of time. Economics ECONOMICS MANAGEMENT SCHOOL,TONGJI UNIVERSITY
Economics ECONOMICS & MANAGEMENT SCHOOL, TONGJI UNIVERSITY 13-4 11.2 GROSS DOMESTIC PRODUCT • Gross domestic product (GDP) is a measure of the income and expenditures of an economy. • It is the total market value of all final goods and services produced within a country in a given period of time
490 13-5 THE COMPONENTS OF GDP What Is Not Counted in GDP? -GDP excludes most items that are produced and consumed at home and that never enter the marketplace. -It excludes items produced and sold illicitly,such as illegal drugs. Economics ECONOMICS MANAGEMENT SCHOOL,TONGJI UNIVERSITY
Economics ECONOMICS & MANAGEMENT SCHOOL, TONGJI UNIVERSITY 13-5 THE COMPONENTS OF GDP • What Is Not Counted in GDP? – GDP excludes most items that are produced and consumed at home and that never enter the marketplace. – It excludes items produced and sold illicitly, such as illegal drugs