1.GDP 國(guó)內(nèi)生產(chǎn)總值

GDP(gross domestic product) is the market value of all final goods and services producted within a country in a given period of time. It measures the total income and the total expenditure at once. That's because for an economy as a whole, income must equal expenditure.

(1) market

GDP and the market is closely linked, and in a market, the smallest component is households and companies, thus, GDP adds together many diverse?prices of products into a single measure. GDP excludes things never enter the marketplace. For example, the wife mows the husband's lawn, or vegetables you grow in your private garden.

(2) final

Intermediate products refer to goods and services, such as raw materials and fuels, used for reprocessing or resale for the production of other products, which refers to final goods. GDP measures final goods, or it would be incorrect.

(3)produced in a given time and area

GDP measures the value of goods and services currently within the geographic confines of a country, and a specific interval of time.

The components of GDP

The GDP identity: ????????Y = C + I + G + NX

GDP = consumption + investment + government purchases + net exports

consumption: spending by households on goods and services, with the exception of purchases of new housing. Consumption is almost the largest part of GDP.

investment: the purchase of goods will be used in the future, spending on capital equipment,inventories and structures, including household purchases of new housing.

government? purchases: spending on goods and services by local, state, and federal governments, excluding transfer payments.

net exports: spending on domestically produced goods by foreigners(exports) minus spending on foreign goods by domestic residents(imports).?

Real versus Nominal GDP

The rise of GDP indicates two things: (1)the economy is producing a larger output. or (2) inflation. To obtain a measure of the amount produced that isn't affected by changes in prices, economists introduced read GDP, which means the production of goods and services valued at constant prices - by first designating one year as a?base year.

The GDP deflator GDP平減指數(shù)

A measure of the price level calculated as the ratio of nominal GDP to read GDP times 100. It reflects the change of prices of goods and services.

GDP flator = Nominal GDP/Real GDP * 100

The word inflation is used to describe a situation in which the overall price level is rising. The GDP deflator is one measure that economists use to monitor the average level of prices in the economy and thus rate of inflation.

2.GNP - Gross national product 國(guó)民生產(chǎn)總值

GNP is the total income earned by a nation's permanent nationals, also includes abroad earns, but excluding income that foreigners earn in the nation.

GDP and GNP are quite close.

3.NNP - Net national product 國(guó)民生產(chǎn)凈值

equals to GNP-depreciation