Chapter 2：Macroeconomics

 首先，这个chapter有学GDP,GNP和NNP，3个Approach

GDP 是国内生产总值（包括国外来我国工作的，不包括我国去别国工作的）

GNP是国民生产总值 （包括在外工作的）

NNP是GNP-depreciation

• Net National Product 有net就是净 所以用GNP-depreciation

Income Approach

用来找personal income, disposable personal income 和 per capita income

a) i. Personal Income= wages and salaries + Rent+ Interest +Profit +Dividends + Transfer payment +                                             Interest on government loan + Interest from consumer loan- EPF contributions -                                         taxes on corporate profit - undistributed corporate profit

    ii. Personal Income= National Income + Transfer payment +Interest on government loans +Interest on                                          consumer loans - taxes on corporate profit- undistributed corporate profit - EPF                                          contributions

b) Disposable personal income= Personal income - personal income tax

c) Per Capita income= National Income/ Total population

Expenditure Approach

4个sector

-personal consumption （C）

-investment (I)

-government spending (G)

-net exports(X-M) X  is export, M is import

C + I + G + X - M 会拿到GDP mp ＋ net factor income from abroad变 GNP fc + subsidies - indirect tax变GNP fc - depreciation = National Income

Product approach

加一堆开销变成GDP mp + net income= GNP mp -indirect tax + subsidy= GNP fc-depreciation=NI

The difficult in calculating National Income

1.Double counting

半成品算一次了，成品又算一次，所以算到两次

2.Accuracy of Information

得到的信息不准确

3. unpaid activities

家庭主妇没有给薪水，实际上请人是要付薪水的

4.Transfer payment

有些没有算在national income，拿到这些钱，人民会去花，但是没有算在national income

5. Activities that are illegal yet productive

gambling没有记录在NI, 实际上productive

6.Depreciation

不能准确预测贬值（estimate而已）

The difficult in compare national income

1. Concepts of national income 

exclude service

2. Different treatment of items

Malaysia非法活动没有算在NI, 泰国有算，难比较

3. Patterns of income distribution

NI不能代表standard of living，消费也高

4.patterns of expenditure

消费大

5. unpaid productive income

老婆帮忙做家务没有算在NI,but 佣人做有算在NI

6.general price index

用消费能力比较，不是钱的价值

Difficulties to compare NI between time periods

1.General price level

-价格高，general price也会提高，对比就会less accurate

2.Quality of goods and services

-时间越久，quality越高，价格越高

3.Population composition and total population

NI高，可能造成TP会高

4.patterns of income distribution

GNP increase 30%， 不代表生活水平提高30%

The uses of National Income Data

-to measure country's rate of economic growth

-to measure total contribution of economic sectors to total national production

-economic planning 

-to measure country's general standard of living

-to show or indicate the success or failure of government policies