Macroeconomic indexes in a SNC - 1 part - МАКРОЭКОНОМИКА/ ECONOMICS - лекции - Информационное обеспечение дистанционного обучения - Publisher - Азовское Отделение Академии ЭНиПД /AES&E
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Сокращенный курс макроэкономической теории с использованием фундаментальных работ Зиновия Григорьевича Ватаманюка, Виктора Дмитриевича Базилевича, Валерия Александровича Васильева, Кемпбелла Р. Макконелла и Стенли Л. Брю

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Macroeconomic indexes in a SNC - 1 part

A gross national product (GNP), basic index of the economic state of society, is a market value of all of eventual commodities and services, made during a year.

Under the finished goods are understood goods and services which are bought for the eventual use but not for resale or further treatment or processing. Transactions, including intermediate products, from other side, behave to the purchases of commodities and services for further treatment or processing or for resale. The sales of the finished goods join in GNP, but from its the sales of intermediate products are eliminated, because all of taking a place intermediate transactions are already included in the cost of the finished goods. The separate account of intermediate products would mean a double account and overextension of GNP.

We will suppose, for example, that the process of production of woolen suit, till it will get in the hands of eventual user, includes five stages (see table 2-1). On every stage a difference is meantime, that a firm paid for a product, and that it gets from its sale, paid as an ettlings, rent payments, percent and incomes in an exchange for resources, in-use this firm in the process of production and appeal of suit.

At the calculation of national income to avoid a double account, it is necessary carefully to watch, that an only value added, created every firm, joined in him.

A value added is market price of volume of products, by the made firm, instead of cost consumed raw material and materials, purchased by it for suppliers.

Laying down a value added, created all of five firms, in a table 2-1, it is possible exactly to count up the cost of suit. Just, counting up and adding up value addeds, created all of firms in an economy, it is possible to define GNP, that market value of general issue.

Intermediate commodities, unproductive transactions and sales of the used commodities, are eliminated at the count of GNP.

State and private manuals and subsidies the recipients of which do not bring in reply to these payments some contribution to creation of current production volume, and also transactions with securities, that purchase-sale of actions and bonds, behave to the unproductive transactions. GNP can be expected by addition of the combined charges, necessary for the production of all eventual goods, or by addition of profits, got from the production of this volume of products.

 

Table 2-1. Value added at a five-phasic production process (hypothetical information).

 

(1) Stages of production

(2) Selling price of materials or products (dol.)

(3) Value added (dol.)

Firm A, sheep-breeding farm

0

60

60 (= 60 --0)

 

Firm B, shersteperera-batyvayuschee enterprise

100

40 (- 100- 60)

Firm V, producer of suits

125

25 (=125- 100)

Firm G, wholesale salesman of clothes

175

50 (= 175- 125)

Firm D, retail salesman of clothes

250

75 ( = 250 - 175)

Total worth of sales

710

 

Value added (total revenue)

 

             250  

On charges GNP is determined as a sum of consumer charges on goods and services (С), gross investments of companies (Ig), public purchasing of commodities and services (G) and clean export (Xn);

The detailer analysis of constituents of GNP will be presented in it and subsequent chapters.

The personal consumer charges are included by the charges of households for the purpose consumption of the protracted use (cars, refrigerators, videotape recorders etc.), on the commodities of current consumption (bread, milk, beer, cigarettes, shirts, tooth-paste and pr.), and also consumer charges on services (lawyers, doctors, mechanics, hairdressers) .

The gross investments of companies are included by three basic components: 1) all of eventual purchases of machines, equipment and machine-tools by businessmen; 2) all of building and 3) change of supplies.

Gross investments are subdivided into an investment on substituting for leaving of capital (necessary for maintenance of the capital accumulated a country at existent level) and clean investments (clean increase of volume of the accumulated capital). Positive clean investments are characteristic for a growing economy, while negative clean investments - for an economy with going down business activity.

GNP on a profit, or on distributing, settles accounts as a sum of ettlings of the hired workers, rent payments, percent, profit from a property, income-tax from corporations, dividends, retained earnings of corporations and two unconnected with profits payments (deductions on consumed capital and indirect taxes indemnity from corporations).

GNP as one very important failing has a measuring device of gross production volume: in him a tendency is stopped up to embellishing of picture of current annual production. It takes a place because It does not foresee deduction of that part of annual production, which is needed in an order to substitute for investment commodities, utilized in a production in this year.

In the American system of drafting of national accounts the index of net national product (Net NP) is determined by deduction from GNP of deductions on the consumption of capital, which serve as the measuring device of volume of deputizing investments, or volume of capital, consumed during the production of as depreciation charges. So, a net national product (Net NP) is a gross national product (GNP), adjusted to the amount of depreciation decrees.

A national income is gross income, begun to work the suppliers of resources; It settles accounts by deduction from Net NP of indirect taxes on business.

The personal income is a gross income, paid individuals and families to payment of taxes from citizens.

Passing from a national income as measuring device of the begun to work profit to the personal income as index of profit, actually got, it is necessary to subtract from a national income such three types of profits which are begun to work, but not got (payments on social security, income taxes and the retained earnings of corporations corporations), and also to add profits, got, but not subsequent upon current labour activity (transfer payments).

Transfer payments consist of such types of payments, kak:1) payments on insurance to old-age and from accidents, and also doles, based on the social programs; 2) payments on to conditioning for existence; 3) various payments to the veterans, for example subsidies on education and manuals on disability; 4) payments of private pensions and doles and  conditioning for existence; 5) percent payments, paid a government and users.

An income after-tax is the personal income instead of taxes from citizens. By an income after-tax the size of profits of families and individuals, present in their order for a consumption and economies is measured.

Individual taxes consist of the personal income-taxes, taxes on private property and inheritance taxes among which a leading role belongs to the first type of tax. The results of the resulted analysis are presented in a table 2-2.

 

Table 2-2. Between’s   by a gross national product, by a national income, personal income and profit after payment of taxes in 1988 (milliard. Dollars)

 

A gross national product

4862

consumed capital Indemnity

-505

Net national product 

4357

the Indirect taxes from business

-393

National income

3964

Payments on social security

-445

Tax on the profits of corporations

-145

the Undistributed profits of corporations

- 79

Transfer payments

+768

The personal income

4063

the Individual taxes 

-590

Income after-tax

3473

 

A cost of production of different years (gross national products) volumes can be comparable only in case that the cost of monetary item does not change.

The standard of prices is expressed as an index. A price index is the measuring device of between by the combined cost of certain set of commodities and services, urgent a «market basket», for this temporal period and by the combined cost of identical or similar group of commodities and services in a base period. Indicated orienteer, or initial level, is named «By a base year».

In obedience to the accepted practice, the relation of costs of this year and base year is multiplied by 100.

A price of GNP index, or deflator of GNP, includes the costs of consumer goods and services not only, but also cost of investment commodities, commodities, bought a government, and also commodities and services, purchased and sold in the world market. On this reason deflator of GNP is a price index, related to adjustment money, or nominal, volume of GNP taking into case a price change. Nominal GNP is reflected by a production volume, shown in prices, existing in the moment of time, when this volume was made.

A price index for a base year will always be equal 100, as in this case «this year» and «base year» coincide.

For example, to expect a price of GNP index for 1950, it is necessary to define a production volume in 1950 and then count up, how many the analogical set of commodities and services would cost in the prices (costs) of base year.

We will accept 1982 year for base. For example, if prices on products 1950 in 1950-1982 grew in 4 times, the price proportion of market baskets will be equal 1/4 (0,25) and a price 1950 index will be equal 25 (0,25 x 100).

If price of GNP indexes settle accounts for every year from the row of years, it allows to conduct the comparative analysis of levels of the indicated indexes. First example. If price indexes 1990 and 1982 evened according to 128 and 100, we can say that the standard of prices for period between the indicated years was increased on 28% (/128 - 100/100). Second example. If, as follows from our previous example, a price index for 1950 is 25, it is possible to say that the standard of prices in 1950-1990 grew on 412% (/128 - 25/25). Third example. If a price index fallen down from 100 in 1982 to 98 in 1983, it talks that the standard of prices went down on 2% (/98 - 100/100).

By a price of GNP index it is possible to compare the cost of production of every this year volume to the cost of analogical production volume at prices in a base year. The set of price indexes for different years allows us to compare the standards of prices in different years. The increase of price of GNP index in this year as compared to a previous year specifies on inflation.

Inflation and deflation complicate the count of gross national product, as GNP is a money, temporal and quantitative index. For example, difficultly straight to answer on the question,  whether 4-percent growth of GNP is caused by an increase on 4% of production volume at a zero inflation, either its is caused 4-percent inflation at an unchanging production volume or some by other combination of changes of production and standard of prices volume (for example, by 2-percent growth of production and 2-percent inflation). A problem consists in that, to correct a money (temporal, quantitative) index so that it in exactness reflected the changes of physical volume, or amounts of units, products, but not price-wave.



Источник: http://kumpan-muller.ucoz.de/publ/makroehkonomicheskie_pokazateli_v_sisteme_nacionalnykh_schetov/7-
Категория: МАКРОЭКОНОМИКА/ ECONOMICS - лекции | Добавил: Vasiljev (2009-09-29) | Автор: Vasiljev Alexander
Просмотров: 441 | Теги: national income, income after-tax, personal income, Dr Valery Vasiljev, GNP | Рейтинг: 5.0/1 |
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