gs_-24_--_National_Income_Accounts

gs_-24_--_National_Income_Accounts - ANNOUNCEMENTS (#1):...

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1 ANNOUNCEMENTS (#1): ± Test will be held at from 7:30 am to 9:00 am. ± SCHEDULE OF EXAMS: o TEST #1 – and TEST #2 -- DONE! o TEST #3 – March 10, 2010 (Wednesday) -- tentative o FINAL EXAM – To be announced – [FINAL EXAM WEEK] 2/24/2010 Econ 11 - Lecture #25 2 Lecture #24: NATIONAL INCOME ACCOUNTS ± MACROECONOMIC TOPICS ± NATIONAL INCOME CONCEPTS ± THE THREE MEASUREMENTS OF GDP ± COMPARING INCOME ACCOUNTS – Across Time, Countries 2/24/2010 Econ 11 - Lecture #25 3 .. 40 Mortality rate, under-5 (per 1,000) .. 70 Life expectancy at birth, total (years) People 3,730 2,490 GNI (GNP) per capita, PPP (current international $) 327.76 189.42 GNI (GNP), PPP (current international $) (billions) 142.62 80.32 GNI (GNP), (current US$) (billions) 87.89 76.21 Population, total (millions) World view 2007 2000 PHILIPPINE Data Profile -- From WORLD BANK DATA BASE
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2 .. 15.2 Revenue, excluding grants (% of GDP) 15 21 Gross capital formation (% of GDP) 44 53 Imports of goods and services (% of GDP) 39 55 Exports of goods and services (% of GDP) 55 52 Services, etc., value added (% of GDP) 31 32 Industry, value added (% of GDP) 14 16 Agriculture, value added (% of GDP) 2.7 6.3 Inflation, GDP deflator (annual %) 7.3 6.0 GDP growth (annual %) 144.13 75.91 GDP (current US$) (billions) Economy 2007 2000 PHILIPPINE Data Profile -- From WORLD BANK DATA BASE Source: World Development Indicators database, September 2008 16,860 6,212 Workers' remittances and compensation of employees, received (US$) (millions) .. 2,240 Foreign direct investment, net inflows (BoP, current US$) (millions) 75 101 Merchandise trade (% of GDP) Global links .. 73 High-technology exports (% of manufactured exports) 6.0 2.0 Internet users (per 100 people) .. 12 Fixed line and mobile phone subscribers (per 100 people) States and markets 2007 2000 PHILIPPINE Data Profile -- From WORLD BANK DATA BASE TOTALS ARE MACRO DATA 2/24/2010 Econ 11 - Lecture #25 6 MACROECONOMIC TOPICS ± Aggregate output and income ± Economic growth ± Consumption and saving (aggregates), investment ± Price level, money and banking ± Balance of payments (exports and imports) ± Exchange rates ± Budget deficits (total government spending, total taxes) ± Etc.
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3 2/24/2010 Econ 11 - Lecture #25 7 Stocks : Quantities measured at a point in time – Examples ± Philippine population in any year ± Level of water in La Mesa dam ± Your total savings in a bank ± Total enrollment of UP or of this class ± The books in the library 2/24/2010 Econ 11 - Lecture #25 8 Flows : Quantity movements per unit of time – Examples ± Population change per annum: births per year, deaths per year, labor force additions per year ± Amount of water serviced by MWSS in MetroManila per month, per year ± Amount of net savings per month that you put in your bank account ± Output per year; consumption per year 2/24/2010 Econ 11 - Lecture #25 9 National income or output ± Income and output concepts are flows ± There are many examples of national income concepts ± These concepts are interrelated by definition ± It is important to understand these definitions to have a grasp of many items in macroeconomics
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4 2/24/2010 Econ 11 - Lecture #25 10 PEOPLE OWNERS OF FACTOR SERVICES BUSINESS PRODUCERS OF GOODS HIRER OF FACTORS GOODS MARKET FACTOR MARKET VALUE OF GOODS = OUTPUT MEASURE ALL GOODS SALES
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gs_-24_--_National_Income_Accounts - ANNOUNCEMENTS (#1):...

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