Summaries of the economic lecture ----Cathy

The national economy measuring national income and the relationship between injections and withdrawals. Although the links between them, however,planned injections may not equal planned withdrawals.

Now, I will talk about GDP (Gross Domestic Product) ,it has three ways of meaning:
The first of all ─ The product method
● the problem of double counting● the measuring of value added
● gross value added (GVA)● some qualification
Next ─ The income method● adding factor earnings● some qualification
● stock appreciation
● transfer payments
● direct taxes,taxes and subsidies on products
Last ─ The expenditure method
● gross national income (CNY)
● Net national income (NNY)
● ─Y=C+G+I+X─M

Besides the above mentioned content, still need to pay attention to take account of inflation population and purchasing power (PPP measures) .

Finally, the ational income statistics meaning suitable measures of living standards.it is included that items are excluded (non-marked items and the underground economy) and Production (exteralities,the production of “regrettables” and distribution of income) .