Unemployment rate National income accounting Stocks and flows Value added Imputed value Nominal versus real GDP GDP deflator National income accounts identity Consumption Investment Net exports Labor force Labor-force participation rate Okun's law 3.问题与应用（能力要求） 1ross domestic product (GDP)measures both the incm of everyoe in the economy and the services. 2)Nominal GDp values goods and services at current prices.Real GDp values goods and services at constant prices.Real GDP rises only when the amon of os and has increased,where nomi al gde can rise pu as reased or because prices have inc ased 3)GDP is the sum of four categories of expenditure:consumption, investment,government purchases,and net exports. 4)The consumer price index(CPI)measures the price of a fixed basket of urchased by a t er.Like the GDP deflator th atio typical consu of nominal GDP to real GDP,the CPI measures the overal level of prices 5)The unemployment rate shows what fraction of those who would like to work do not have a job.When the unemployment rate rises,real GDP typically grows slower than its normal rate and may even fall. (三)思考与实践 Consider an economy that produces and consumes bread and automobiles.In the following table are data fortwo different years. Year 2000 2010 Price of an automobile $50000 $60.000 Price ofa loaf of bread $10 $20 Number of automobiles Produced 100 120 500.000 400,000 4 4 Unemployment rate National income accounting Stocks and flows Value added Imputed value Nominal versus real GDP GDP deflator National income accounts identity Consumption Investment Government purchases Net exports Labor force Labor-force participation rate Okun’s law 3. 问题与应用（能力要求） 1）Gross domestic product (GDP) measures both the income of everyone in the economy and the total expenditure on the economy’s output of goods and services. 2）Nominal GDP values goods and services at current prices. Real GDP values goods and services at constant prices. Real GDP rises only when the amount of goods and services has increased, whereas nominal GDP can rise either because output has increased or because prices have increased. 3 ） GDP is the sum of four categories of expenditure: consumption, investment, government purchases, and net exports. 4）The consumer price index (CPI) measures the price of a fixed basket of goods and services purchased by a typical consumer. Like the GDP deflator, which is the ratio of nominal GDP to real GDP, the CPI measures the overall level of prices. 5）The unemployment rate shows what fraction of those who would like to work do not have a job. When the unemployment rate rises, real GDP typically grows slower than its normal rate and may even fall. （三）思考与实践 Consider an economy that produces and consumes bread and automobiles. In the following table are data for two different years. Year Year 2000 2010 Price of an automobile $50,000 $60,000 Price of a loaf of bread $10 $20 Number of automobiles Produced 100 120 Number of loaves of bread produced 500,000 400,000