🗊Презентация The data of macroeconomics

Категория: Экономика и Финансы
Нажмите для полного просмотра!
The data of macroeconomics, слайд №1The data of macroeconomics, слайд №2The data of macroeconomics, слайд №3The data of macroeconomics, слайд №4The data of macroeconomics, слайд №5The data of macroeconomics, слайд №6The data of macroeconomics, слайд №7The data of macroeconomics, слайд №8The data of macroeconomics, слайд №9The data of macroeconomics, слайд №10The data of macroeconomics, слайд №11The data of macroeconomics, слайд №12The data of macroeconomics, слайд №13The data of macroeconomics, слайд №14The data of macroeconomics, слайд №15The data of macroeconomics, слайд №16The data of macroeconomics, слайд №17The data of macroeconomics, слайд №18The data of macroeconomics, слайд №19The data of macroeconomics, слайд №20The data of macroeconomics, слайд №21The data of macroeconomics, слайд №22The data of macroeconomics, слайд №23The data of macroeconomics, слайд №24The data of macroeconomics, слайд №25The data of macroeconomics, слайд №26The data of macroeconomics, слайд №27The data of macroeconomics, слайд №28The data of macroeconomics, слайд №29The data of macroeconomics, слайд №30The data of macroeconomics, слайд №31The data of macroeconomics, слайд №32The data of macroeconomics, слайд №33The data of macroeconomics, слайд №34The data of macroeconomics, слайд №35The data of macroeconomics, слайд №36The data of macroeconomics, слайд №37The data of macroeconomics, слайд №38The data of macroeconomics, слайд №39The data of macroeconomics, слайд №40The data of macroeconomics, слайд №41The data of macroeconomics, слайд №42The data of macroeconomics, слайд №43The data of macroeconomics, слайд №44The data of macroeconomics, слайд №45The data of macroeconomics, слайд №46The data of macroeconomics, слайд №47The data of macroeconomics, слайд №48The data of macroeconomics, слайд №49The data of macroeconomics, слайд №50The data of macroeconomics, слайд №51The data of macroeconomics, слайд №52The data of macroeconomics, слайд №53The data of macroeconomics, слайд №54The data of macroeconomics, слайд №55The data of macroeconomics, слайд №56The data of macroeconomics, слайд №57The data of macroeconomics, слайд №58The data of macroeconomics, слайд №59The data of macroeconomics, слайд №60
Скачать

Содержание ▲

Вы можете ознакомиться и скачать презентацию на тему The data of macroeconomics. Доклад-сообщение содержит 60 слайдов. Презентации для любого класса можно скачать бесплатно. Если материал и наш сайт презентаций Mypresentation Вам понравились – поделитесь им с друзьями с помощью социальных кнопок и добавьте в закладки в своем браузере.

Слайды и текст этой презентации

Слайд 1


The Data of Macroeconomics
Описание слайда:
The Data of Macroeconomics

Слайд 2


In this chapter, you will learn… …the meaning and measurement of the most important macroeconomic statistics: Gross Domestic Product (GDP) The Consumer Price Index (CPI) The unemployment rate
Описание слайда:
In this chapter, you will learn… …the meaning and measurement of the most important macroeconomic statistics: Gross Domestic Product (GDP) The Consumer Price Index (CPI) The unemployment rate

Слайд 3


Gross Domestic Product: Expenditure and Income Two definitions: Total expenditure on domestically-produced final goods and services. Total income earned by domestically-located factors of production.
Описание слайда:
Gross Domestic Product: Expenditure and Income Two definitions: Total expenditure on domestically-produced final goods and services. Total income earned by domestically-located factors of production.

Слайд 4


The Circular Flow
Описание слайда:
The Circular Flow

Слайд 5


Value added definition: A firm’s value added is the value of its output minus the value of the intermediate goods the firm used to produce that output.
Описание слайда:
Value added definition: A firm’s value added is the value of its output minus the value of the intermediate goods the firm used to produce that output.

Слайд 6


Exercise: (Problem 2, p. 40) A farmer grows a bushel of wheat and sells it to a miller for $1.00. The miller turns the wheat into flour and sells it to a baker for $3.00. The baker uses the flour to make a loaf of bread and sells it to an engineer for $6.00. The engineer eats the bread. Compute & compare value added at each stage of production and GDP
Описание слайда:
Exercise: (Problem 2, p. 40) A farmer grows a bushel of wheat and sells it to a miller for $1.00. The miller turns the wheat into flour and sells it to a baker for $3.00. The baker uses the flour to make a loaf of bread and sells it to an engineer for $6.00. The engineer eats the bread. Compute & compare value added at each stage of production and GDP

Слайд 7


Final goods, value added, and GDP GDP = value of final goods produced = sum of value added at all stages of production. The value of the final goods already includes the value of the intermediate goods, so including intermediate and final goods in GDP would be double-counting.
Описание слайда:
Final goods, value added, and GDP GDP = value of final goods produced = sum of value added at all stages of production. The value of the final goods already includes the value of the intermediate goods, so including intermediate and final goods in GDP would be double-counting.

Слайд 8


The expenditure components of GDP consumption investment government spending net exports
Описание слайда:
The expenditure components of GDP consumption investment government spending net exports

Слайд 9


Consumption (C) durable goods last a long time ex: cars, home appliances nondurable goods last a short time ex: food, clothing services work done for consumers ex: dry cleaning, air travel.
Описание слайда:
Consumption (C) durable goods last a long time ex: cars, home appliances nondurable goods last a short time ex: food, clothing services work done for consumers ex: dry cleaning, air travel.

Слайд 10


U.S. consumption, 2005
Описание слайда:
U.S. consumption, 2005

Слайд 11


Investment (I) Definition 1: Spending on [the factor of production] capital. Definition 2: Spending on goods bought for future use Includes: business fixed investment Spending on plant and equipment that firms will use to produce other goods & services. residential fixed investment Spending on housing units by consumers and landlords. inventory investment The change in the value of all firms’ inventories.
Описание слайда:
Investment (I) Definition 1: Spending on [the factor of production] capital. Definition 2: Spending on goods bought for future use Includes: business fixed investment Spending on plant and equipment that firms will use to produce other goods & services. residential fixed investment Spending on housing units by consumers and landlords. inventory investment The change in the value of all firms’ inventories.

Слайд 12


U.S. investment, 2005
Описание слайда:
U.S. investment, 2005

Слайд 13


Investment vs. Capital Note: Investment is spending on new capital. Example (assumes no depreciation): 1/1/2006: economy has $500b worth of capital during 2006: investment = $60b 1/1/2007: economy will have $560b worth of capital
Описание слайда:
Investment vs. Capital Note: Investment is spending on new capital. Example (assumes no depreciation): 1/1/2006: economy has $500b worth of capital during 2006: investment = $60b 1/1/2007: economy will have $560b worth of capital

Слайд 14


Stocks vs. Flows A flow is a quantity measured per unit of time. E.g., “U.S. investment was $2.5 trillion during 2006.”
Описание слайда:
Stocks vs. Flows A flow is a quantity measured per unit of time. E.g., “U.S. investment was $2.5 trillion during 2006.”

Слайд 15


Stocks vs. Flows - examples
Описание слайда:
Stocks vs. Flows - examples

Слайд 16


Now you try: Stock or flow? the balance on your credit card statement how much you study economics outside of class the size of your compact disc collection the inflation rate the unemployment rate
Описание слайда:
Now you try: Stock or flow? the balance on your credit card statement how much you study economics outside of class the size of your compact disc collection the inflation rate the unemployment rate

Слайд 17


Government spending (G) G includes all government spending on goods and services.. G excludes transfer payments (e.g., unemployment insurance payments), because they do not represent spending on goods and services.
Описание слайда:
Government spending (G) G includes all government spending on goods and services.. G excludes transfer payments (e.g., unemployment insurance payments), because they do not represent spending on goods and services.

Слайд 18


U.S. government spending, 2005
Описание слайда:
U.S. government spending, 2005

Слайд 19


Net exports: NX = EX – IM def: The value of total exports (EX) minus the value of total imports (IM).
Описание слайда:
Net exports: NX = EX – IM def: The value of total exports (EX) minus the value of total imports (IM).

Слайд 20


An important identity Y = C + I + G + NX
Описание слайда:
An important identity Y = C + I + G + NX

Слайд 21


A question for you: Suppose a firm produces $10 million worth of final goods but only sells $9 million worth. Does this violate the expenditure = output identity?
Описание слайда:
A question for you: Suppose a firm produces $10 million worth of final goods but only sells $9 million worth. Does this violate the expenditure = output identity?

Слайд 22


Why output = expenditure Unsold output goes into inventory, and is counted as “inventory investment”… …whether or not the inventory buildup was intentional. In effect, we are assuming that firms purchase their unsold output.
Описание слайда:
Why output = expenditure Unsold output goes into inventory, and is counted as “inventory investment”… …whether or not the inventory buildup was intentional. In effect, we are assuming that firms purchase their unsold output.

Слайд 23


GDP: An important and versatile concept We have now seen that GDP measures total income total output total expenditure the sum of value-added at all stages in the production of final goods
Описание слайда:
GDP: An important and versatile concept We have now seen that GDP measures total income total output total expenditure the sum of value-added at all stages in the production of final goods

Слайд 24


GNP vs. GDP Gross National Product (GNP): Total income earned by the nation’s factors of production, regardless of where located. Gross Domestic Product (GDP): Total income earned by domestically-located factors of production, regardless of nationality. (GNP – GDP) = (factor payments from abroad) – (factor payments to abroad)
Описание слайда:
GNP vs. GDP Gross National Product (GNP): Total income earned by the nation’s factors of production, regardless of where located. Gross Domestic Product (GDP): Total income earned by domestically-located factors of production, regardless of nationality. (GNP – GDP) = (factor payments from abroad) – (factor payments to abroad)

Слайд 25


Discussion question: In your country, which would you want to be bigger, GDP, or GNP? Why?
Описание слайда:
Discussion question: In your country, which would you want to be bigger, GDP, or GNP? Why?

Слайд 26


(GNP – GDP) as a percentage of GDP selected countries, 2002
Описание слайда:
(GNP – GDP) as a percentage of GDP selected countries, 2002

Слайд 27


Real vs. nominal GDP GDP is the value of all final goods and services produced. nominal GDP measures these values using current prices. real GDP measure these values using the prices of a base year.
Описание слайда:
Real vs. nominal GDP GDP is the value of all final goods and services produced. nominal GDP measures these values using current prices. real GDP measure these values using the prices of a base year.

Слайд 28


Practice problem, part 1 Compute nominal GDP in each year. Compute real GDP in each year using 2006 as the base year.
Описание слайда:
Practice problem, part 1 Compute nominal GDP in each year. Compute real GDP in each year using 2006 as the base year.

Слайд 29


Answers to practice problem, part 1 nominal GDP multiply Ps & Qs from same year 2006: $46,200 = $30  900 + $100  192 2007: $51,400 2008: $58,300 real GDP multiply each year’s Qs by 2006 Ps 2006: $46,200 2007: $50,000 2008: $52,000 = $30  1050 + $100  205
Описание слайда:
Answers to practice problem, part 1 nominal GDP multiply Ps & Qs from same year 2006: $46,200 = $30  900 + $100  192 2007: $51,400 2008: $58,300 real GDP multiply each year’s Qs by 2006 Ps 2006: $46,200 2007: $50,000 2008: $52,000 = $30  1050 + $100  205

Слайд 30


Real GDP controls for inflation Changes in nominal GDP can be due to: changes in prices. changes in quantities of output produced. Changes in real GDP can only be due to changes in quantities, because real GDP is constructed using constant base-year prices.
Описание слайда:
Real GDP controls for inflation Changes in nominal GDP can be due to: changes in prices. changes in quantities of output produced. Changes in real GDP can only be due to changes in quantities, because real GDP is constructed using constant base-year prices.

Слайд 31


U.S. Nominal and Real GDP, 1950–2006
Описание слайда:
U.S. Nominal and Real GDP, 1950–2006

Слайд 32


GDP Deflator The inflation rate is the percentage increase in the overall level of prices. One measure of the price level is the GDP deflator, defined as
Описание слайда:
GDP Deflator The inflation rate is the percentage increase in the overall level of prices. One measure of the price level is the GDP deflator, defined as

Слайд 33


Practice problem, part 2 Use your previous answers to compute the GDP deflator in each year. Use GDP deflator to compute the inflation rate from 2006 to 2007, and from 2007 to 2008.
Описание слайда:
Practice problem, part 2 Use your previous answers to compute the GDP deflator in each year. Use GDP deflator to compute the inflation rate from 2006 to 2007, and from 2007 to 2008.

Слайд 34


Answers to practice problem, part 2
Описание слайда:
Answers to practice problem, part 2

Слайд 35


Understanding the GDP deflator
Описание слайда:
Understanding the GDP deflator

Слайд 36


Understanding the GDP deflator
Описание слайда:
Understanding the GDP deflator

Слайд 37


Two arithmetic tricks for working with percentage changes EX: If your hourly wage rises 5% and you work 7% more hours, then your wage income rises approximately 12%.
Описание слайда:
Two arithmetic tricks for working with percentage changes EX: If your hourly wage rises 5% and you work 7% more hours, then your wage income rises approximately 12%.

Слайд 38


Two arithmetic tricks for working with percentage changes EX: GDP deflator = 100  NGDP/RGDP. If NGDP rises 9% and RGDP rises 4%, then the inflation rate is approximately 5%.
Описание слайда:
Two arithmetic tricks for working with percentage changes EX: GDP deflator = 100  NGDP/RGDP. If NGDP rises 9% and RGDP rises 4%, then the inflation rate is approximately 5%.

Слайд 39


Chain-Weighted Real GDP Over time, relative prices change, so the base year should be updated periodically. In essence, chain-weighted real GDP updates the base year every year, so it is more accurate than constant-price GDP. Your textbook usually uses constant-price real GDP, because: the two measures are highly correlated. constant-price real GDP is easier to compute.
Описание слайда:
Chain-Weighted Real GDP Over time, relative prices change, so the base year should be updated periodically. In essence, chain-weighted real GDP updates the base year every year, so it is more accurate than constant-price GDP. Your textbook usually uses constant-price real GDP, because: the two measures are highly correlated. constant-price real GDP is easier to compute.

Слайд 40


Consumer Price Index (CPI) A measure of the overall level of prices Published by the Bureau of Labor Statistics (BLS) Uses: tracks changes in the typical household’s cost of living adjusts many contracts for inflation (“COLAs”) allows comparisons of dollar amounts over time
Описание слайда:
Consumer Price Index (CPI) A measure of the overall level of prices Published by the Bureau of Labor Statistics (BLS) Uses: tracks changes in the typical household’s cost of living adjusts many contracts for inflation (“COLAs”) allows comparisons of dollar amounts over time

Слайд 41


How the BLS constructs the CPI 1. Survey consumers to determine composition of the typical consumer’s “basket” of goods. 2. Every month, collect data on prices of all items in the basket; compute cost of basket 3. CPI in any month equals
Описание слайда:
How the BLS constructs the CPI 1. Survey consumers to determine composition of the typical consumer’s “basket” of goods. 2. Every month, collect data on prices of all items in the basket; compute cost of basket 3. CPI in any month equals

Слайд 42


Exercise: Compute the CPI Basket contains 20 pizzas and 10 compact discs.
Описание слайда:
Exercise: Compute the CPI Basket contains 20 pizzas and 10 compact discs.

Слайд 43


Answers: Cost of Inflation basket CPI rate 2002 $350 100.0 n.a. 2003 370 105.7 5.7% 2004 400 114.3 8.1% 2005 410 117.1 2.5%
Описание слайда:
Answers: Cost of Inflation basket CPI rate 2002 $350 100.0 n.a. 2003 370 105.7 5.7% 2004 400 114.3 8.1% 2005 410 117.1 2.5%

Слайд 44


The composition of the CPI’s “basket”
Описание слайда:
The composition of the CPI’s “basket”

Слайд 45


Understanding the CPI
Описание слайда:
Understanding the CPI

Слайд 46


Understanding the CPI
Описание слайда:
Understanding the CPI

Слайд 47


Reasons why the CPI may overstate inflation Substitution bias: The CPI uses fixed weights, so it cannot reflect consumers’ ability to substitute toward goods whose relative prices have fallen. Introduction of new goods: The introduction of new goods makes consumers better off and, in effect, increases the real value of the dollar. But it does not reduce the CPI, because the CPI uses fixed weights. Unmeasured changes in quality: Quality improvements increase the value of the dollar, but are often not fully measured.
Описание слайда:
Reasons why the CPI may overstate inflation Substitution bias: The CPI uses fixed weights, so it cannot reflect consumers’ ability to substitute toward goods whose relative prices have fallen. Introduction of new goods: The introduction of new goods makes consumers better off and, in effect, increases the real value of the dollar. But it does not reduce the CPI, because the CPI uses fixed weights. Unmeasured changes in quality: Quality improvements increase the value of the dollar, but are often not fully measured.

Слайд 48


The size of the CPI’s bias In 1995, a Senate-appointed panel of experts estimated that the CPI overstates inflation by about 1.1% per year. So the BLS made adjustments to reduce the bias. Now, the CPI’s bias is probably under 1% per year.
Описание слайда:
The size of the CPI’s bias In 1995, a Senate-appointed panel of experts estimated that the CPI overstates inflation by about 1.1% per year. So the BLS made adjustments to reduce the bias. Now, the CPI’s bias is probably under 1% per year.

Слайд 49


Discussion questions: If your grandmother receives Social Security, how is she affected by the CPI’s bias? Where does the government get the money to pay COLAs to Social Security recipients? If you pay income and Social Security taxes, how does the CPI’s bias affect you? Is the government giving your grandmother too much of a COLA? How does your grandmother’s “basket” differ from the CPI’s?
Описание слайда:
Discussion questions: If your grandmother receives Social Security, how is she affected by the CPI’s bias? Where does the government get the money to pay COLAs to Social Security recipients? If you pay income and Social Security taxes, how does the CPI’s bias affect you? Is the government giving your grandmother too much of a COLA? How does your grandmother’s “basket” differ from the CPI’s?

Слайд 50


CPI vs. GDP Deflator prices of capital goods included in GDP deflator (if produced domestically) excluded from CPI prices of imported consumer goods included in CPI excluded from GDP deflator the basket of goods CPI: fixed GDP deflator: changes every year
Описание слайда:
CPI vs. GDP Deflator prices of capital goods included in GDP deflator (if produced domestically) excluded from CPI prices of imported consumer goods included in CPI excluded from GDP deflator the basket of goods CPI: fixed GDP deflator: changes every year

Слайд 51


Two measures of inflation in the U.S.
Описание слайда:
Two measures of inflation in the U.S.

Слайд 52


Categories of the population employed working at a paid job unemployed not employed but looking for a job labor force the amount of labor available for producing goods and services; all employed plus unemployed persons not in the labor force not employed, not looking for work
Описание слайда:
Categories of the population employed working at a paid job unemployed not employed but looking for a job labor force the amount of labor available for producing goods and services; all employed plus unemployed persons not in the labor force not employed, not looking for work

Слайд 53


Two important labor force concepts unemployment rate percentage of the labor force that is unemployed labor force participation rate the fraction of the adult population that “participates” in the labor force
Описание слайда:
Two important labor force concepts unemployment rate percentage of the labor force that is unemployed labor force participation rate the fraction of the adult population that “participates” in the labor force

Слайд 54


Exercise: Compute labor force statistics U.S. adult population by group, June 2006 Number employed = 144.4 million Number unemployed = 7.0 million Adult population = 228.8 million
Описание слайда:
Exercise: Compute labor force statistics U.S. adult population by group, June 2006 Number employed = 144.4 million Number unemployed = 7.0 million Adult population = 228.8 million

Слайд 55


Answers: data: E = 144.4, U = 7.0, POP = 228.8 labor force L = E +U = 144.4 + 7 = 151.4 not in labor force NILF = POP – L = 228.8 – 151.4 = 77.4 unemployment rate U/L x 100% = (7/151.4) x 100% = 4.6% labor force participation rate L/POP x 100% = (151.4/228.8) x 100% = 66.2%
Описание слайда:
Answers: data: E = 144.4, U = 7.0, POP = 228.8 labor force L = E +U = 144.4 + 7 = 151.4 not in labor force NILF = POP – L = 228.8 – 151.4 = 77.4 unemployment rate U/L x 100% = (7/151.4) x 100% = 4.6% labor force participation rate L/POP x 100% = (151.4/228.8) x 100% = 66.2%

Слайд 56


Exercise: Compute percentage changes in labor force statistics Suppose population increases by 1% labor force increases by 3% number of unemployed persons increases by 2% Compute the percentage changes in the labor force participation rate: the unemployment rate:
Описание слайда:
Exercise: Compute percentage changes in labor force statistics Suppose population increases by 1% labor force increases by 3% number of unemployed persons increases by 2% Compute the percentage changes in the labor force participation rate: the unemployment rate:

Слайд 57


The establishment survey The BLS obtains a second measure of employment by surveying businesses, asking how many workers are on their payrolls. Neither measure is perfect, and they occasionally diverge due to: treatment of self-employed persons new firms not counted in establishment survey technical issues involving population inferences from sample data
Описание слайда:
The establishment survey The BLS obtains a second measure of employment by surveying businesses, asking how many workers are on their payrolls. Neither measure is perfect, and they occasionally diverge due to: treatment of self-employed persons new firms not counted in establishment survey technical issues involving population inferences from sample data

Слайд 58


Two measures of employment growth
Описание слайда:
Two measures of employment growth

Слайд 59


Chapter Summary 1. Gross Domestic Product (GDP) measures both total income and total expenditure on the economy’s output of goods & services. 2. Nominal GDP values output at current prices; real GDP values output at constant prices. Changes in output affect both measures, but changes in prices only affect nominal GDP. 3. GDP is the sum of consumption, investment, government purchases, and net exports.
Описание слайда:
Chapter Summary 1. Gross Domestic Product (GDP) measures both total income and total expenditure on the economy’s output of goods & services. 2. Nominal GDP values output at current prices; real GDP values output at constant prices. Changes in output affect both measures, but changes in prices only affect nominal GDP. 3. GDP is the sum of consumption, investment, government purchases, and net exports.

Слайд 60


Chapter Summary 4. The overall level of prices can be measured by either the Consumer Price Index (CPI), the price of a fixed basket of goods purchased by the typical consumer, or the GDP deflator, the ratio of nominal to real GDP 5. The unemployment rate is the fraction of the labor force that is not employed.
Описание слайда:
Chapter Summary 4. The overall level of prices can be measured by either the Consumer Price Index (CPI), the price of a fixed basket of goods purchased by the typical consumer, or the GDP deflator, the ratio of nominal to real GDP 5. The unemployment rate is the fraction of the labor force that is not employed.

Скачать

Похожие презентации
Mypresentation.ru
Загрузить презентацию