An Introduction to National Income
国民收入导论
National income accounting measures the economic activity within a country and provides insights into how a country is performing
国民收入核算衡量一个国家内部的经济活动 ，并深入了解一个国家的表现
One of the main methods to determine economic activity is to measure the rate of change of output in an economy
确定经济活动的主要方法之一是衡量经济体产出的变化率
The output of an economy is called gross domestic product (GDP)
一个经济体的产出被称为国内生产总值（GDP）
Nominal GDP is the value of all goods/services produced in an economy in a one-year period
名义 GDP 是经济体在一年内生产的所有商品/服务的价值
The circular flow of income model is used to illustrate national income and the flow of money, resources and goods in an economy
收入循环流动模型用于说明国民收入以及经济中的货币、资源和商品的流动
The Circular Flow of Income Model
收入循环流动模型
Money can enter or leave the circular flow of income in an economy
货币可以进入或离开经济体的收入循环流
Injections add money to the circular flow of income and increase its size
注资将资金注入收入循环流，并扩大其规模
Increased government spending (G)
增加政府支出 （G）
Increased investment (I)
增加投资 （一）
Increased exports (X)
出口增加（X）
Leakages (withdrawals) remove money from the circular flow of income and reduce its size
泄漏 （提取）将资金从收入循环流中移除，并减少其规模
Increased savings by households (S)
家庭储蓄增加 （S）
Increased taxation by the government (T)
政府增加税收 （T）
Increased import purchases (M)
进口采购量增加（百万）
There are high levels of interdependence between households, firms, the government, the financial sector, and the foreign sector (foreign firms and households)
家庭、企业、政府、金融部门和外国部门（外国企业和家庭）之间存在高度相互依赖
A diagram that shows the injections and leakages that influence the relative size of the circular flow of income
图表显示了影响收入循环流相对规模的注入和泄漏
Diagram Analysis
图表分析
Government: Government spending (G) is an injection and taxation (T) is a leakage
政府： 政府支出（G）是注入，税收（T）是泄漏
Financial sector: Investment (I) is an injection and savings (S) is a leakage
金融领域： 投资（I）是注入，储蓄（S）是泄漏
Foreign sector: Exports (X) is an injection and imports (M) is a leakage
对外部门：出口（X）是注入，进口（M）是泄漏
The relative size of the injections and withdrawals impacts the size of the economy:
注入和提取的相对规模影响着经济规模：
Injections > withdrawals = economic growth and increase in national income
注入>提取=经济增长和国民收入增加
Withdrawals > injections = economic decline and a fall in national income
提款>注入=经济衰退和国民收入下降
Changes to any of the factors that influence government spending, investment, consumption and net exports will increase/decrease the relative size of the circular flow of income
影响政府支出、投资、消费和净出口的任何因素的变化都会增加/减少相对规模 收入循环流动
E.g. An increase in interest rates will increase savings (withdrawal), and reduce consumption and investment
例如， 利率上升将增加储蓄（提款），并减少消费和投资
Examiner Tips and Tricks
考官提示和技巧
Remember to consider the net effect and proportionality of the injections and withdrawals. For example if the size of the government spending is large, it is likely to completely outweigh the combined withdrawals of savings and imports.
记住要考虑注资和提款的净效应和比例 。例如，如果政府支出规模较大，其金额很可能完全超过储蓄和进口提款的总和。
Three Approaches to the Calculation of National Income
计算国民收入的三种方法
With reference to the circular flow of income model, national income can be calculated using three possible approaches
参考收入循环流动模型，国民收入可以用三种可能的方法来计算
Expenditure, income and output can be illustrated in the circular flow of income model
支出、收入和产出可以用收入循环流动模型来说明
The expenditure approach
支出法
This approach adds up the value of all the expenditures in the economy in a year and includes consumption (C), government spending (G), investment (I) by firms and net exports (X - M)
这种方法将一年内经济中所有支出的价值加起来，包括消费（C）、政府支出（G）、企业投资（I）和净出口（X - M）
Nominal GDP = C + I + G + (X-M)
名义 GDP = C + I + G + (XM)
The income approach
收入法
This approach adds up the payments (rewards) for the factors of production in a year and includes the wages from labour (W), rent from land (R), interest from capital (I) and profit from entrepreneurship (P)
这种方法将一年中生产要素的支付（回报）加起来，包括劳动工资（W）、土地租金（R）、资本利息（I）和企业家利润（P）。
National Income = W + R + I + P
国民收入=W+R+I+P
The output approach
输出方法
This approach adds up the value of all finished goods/services produced within the economy each year (national output)
这种方法将每年经济中生产的所有成品/服务的价值加起来（国民产出）
All approaches should provide the same figure
所有方法都应提供相同的数字
One agent's expenditure is another agent's income
一个代理商的支出是另一个代理商的收入
The value of finished goods ready for sale is equal to the expenditure paid to acquire them
准备出售的制成品的价值等于购买该制成品所支付的费用
The value of GDP is different to the volume of GDP
GDP 的价值不同于 GDP 的数量
The value is the monetary worth
价值是货币价值
The volume is the physical number
体积是物理数字
Calculating Nominal GDP Using the Expenditure Approach
使用支出法计算名义 GDP
Nominal GDP can be calculated using the value of the expenditure in an economy
名义 GDP 可以通过一个经济体的支出价值来计算
GDP = Consumption (C) + Investment (I) + Government spending (G) + Exports (X) - Imports (M)
GDP = 消费 （C） + 投资 （I） + 政府支出 （G） + 出口 （X） - 进口 （M）
GDP = C + I + G + (X-M)
GDP = C + I + G + (XM)
If any of the components of GDP increase, then economic growth is likely to occur
如果 GDP 的任何一个组成部分增加，那么经济增长就有可能出现
The components
组件
Consumption is the total spending on goods/services by consumers (households) in an economy
消费是指一个经济体中消费者（家庭）在商品/服务上的总支出
Investment is the total spending on capital goods by firms
投资是企业在资本货物上的总支出
Government spending is the total spending by the government in the economy
政府支出是政府在经济中的总支出
Includes public sector salaries, payments for the provision of merit and public goods etc.
包括公共部门的工资、绩效工资和公共物品报酬等。
It does not include transfer payments
不包括转移支付
Net exports are the difference between the revenue gained from selling goods/services abroad and the expenditure on goods/services from abroad
净出口是指向国外销售商品/服务所获得的收入与从国外购买商品/服务的支出之间的差额
Worked Example
示例
The table provides national income data for Vietnam in 2019 - presented in US$. Calculate the nominal GDP using the expenditure method [2]
下表提供 2019 年越南国民收入数据（以美元计）。使用支出法计算名义 GDP [2]
Category | Value in US$ millions |
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Answer:
回答：
Step 1: Determine which of the data presented is relevant to the calculation
步骤 1：确定哪些数据与计算相关
GDP = C + I + G + (X-M)
GDP = C + I + G + (XM)
So income tax is not relevant (it is a leakage)
因此所得税与此无关（这是一种泄漏）
Step 2: Substitute the relevant values into the formula
步骤 2：将相关值代入公式
GDP = C + I + G + (X-M)
GDP = C + I + G + (XM)
GDP = 11255 + 8927 + 15697 + (8532 - 4957)
国内生产总值 = 11255 + 8927 + 15697 + (8532 - 4957)
Nominal GDP = 39,454 $m
名义 GDP = 39,454 百万美元
(Two marks for the correct answer or 1 mark for any correct work in the process)
（ 正确答案得 2 分 ， 过程中任何正确作业得 1 分 ）
Nominal Gross National Income (GNI)
名义国民总收入（GNI）
Nominal GDP measures the value of production within a country's borders
名义 GDP 衡量一个国家境内的生产价值
However, many countries host multi-national corporations whose profits are included in the GDP figures, even though they usually send their profits out of the country
然而，许多国家都有跨国公司，这些公司的利润被计入 GDP 数据，尽管它们通常将利润汇出
Likewise, citizens of a home nation make profits in other countries (included in their GDP statistics) and return these profits home (Remittances can be a significant income source for many developing nations)
同样，本国公民在其他国家赚取利润（计入其 GDP 统计数据）并将这些利润汇回国内（ 汇款可以成为许多发展中国家的重要收入来源）
Gross national income (GNI) is therefore a more relevant metric in that it measures the nominal GDP + the net factor income earned from abroad
因此， 国民总收入（GNI） 是一个更相关的指标，因为它衡量的是名义 GDP + 从国外赚取的净要素收入
Worked Example
示例
The table provides national income data for Vietnam in 2019 - presented in US$. Calculate the nominal GNI [3]
下表提供 2019 年越南国民收入数据（以美元计）。计算名义国民总收入 [3]
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Answer:
回答：
Step 1: Determine which of the data presented is relevant to the calculation
步骤 1：确定哪些数据与计算相关
GDP = C + I + G + (X-M)
GDP = C + I + G + (XM)
GNI = GDP + Net Income
国民总收入=国内生产总值+净收入
So income tax is not relevant (it is a leakage)
因此所得税与此无关（这是一种泄漏）
Step 2: Substitute the relevant values into the GDP formula
第二步：将相关值代入 GDP 公式
GDP = C + I + G + (X-M)
GDP = C + I + G + (XM)
GDP = 11255 + 8927 + 15697 + (8532 - 4957)
国内生产总值 = 11255 + 8927 + 15697 + (8532 - 4957)
Nominal GDP = $39,454 million
名义 GDP = 394.54 亿美元
Step 3: Substitute the relevant values into the GNI formula
步骤 3：将相关值代入 GNI 公式
GNI = GDP + Net Income
国民总收入=国内生产总值+净收入
GNI = 39,454 + 4349
国民总收入 = 39,454 + 4349
GNI = $43,803 million
国民总收入 = 438.03 亿美元
(3 Marks for the correct answer or two marks for the correct GDP or 1 mark for any correct working in the process)
（ 正确答案得 3 分 ，正确 GDP 得 2 分 ，过程中任何正确计算得 1 分）
Real GDP & GNI
实际 GDP 和国民总收入
In economics, the use of the word nominal refers to the fact that the metric has not been adjusted for inflation
在经济学中， “名义” 一词的使用指的是该指标尚未根据通货膨胀进行调整
Nominal GDP is the actual value of all goods/services produced in an economy in a one-year period
名义 GDP 是经济体在一年内生产的所有商品/服务的实际价值
There has been no adjustment to the amount based on the increase in price levels (inflation)
金额没有根据物价水平上涨 （通货膨胀） 进行调整
Real GDP and GNI is the value of all goods/services produced in an economy in a one-year period - and adjusted for inflation
实际 GDP 和 GNI 是指一个经济体在一年内生产的所有商品/服务的价值 ，并根据通货膨胀进行调整
For example, if nominal GDP is £100bn and inflation is 10% then real GDP is £90bn
例如，如果名义 GDP 为 1000 亿英镑， 通货膨胀率为 10% ，那么实际 GDP 为 900 亿英镑
Real GDP and GNI are often calculated using a price deflator known as the GDP deflator
实际 GDP 和 GNI 通常使用价格平减指数（即 GDP 平减指数） 来计算
The GDP deflator is used to convert nominal GDP/GNI from current prices to constant prices
GDP 平减指数用于将名义 GDP/GNI 从现行价格转换为不变价格
Real GNI = Real GDP + Net income from abroad
实际国民总收入=实际 GDP+来自国外的净收入
Worked Example
示例
Calculate the real GDP in 2020 and 2021 using the figures in the table below [4]
使用下表中的数字计算 2020 年和 2021 年的实际 GDP [4]
Year | Nominal GDP ($ Billion) | GDP deflator |
2020 | 114 | 102.7 |
2021 | 129 | 98.8 |
Answer:
回答：
Step 1: Substitute the values from 2020 into the equation
步骤 1：将 2020 年的值代入公式
(Two marks for the correct answer or 1 mark for any correct working in the process. Answer needs to be rounded to 2 decimal places where appropriate)
（ 正确答案得 2 分 ，过程中的任何正确运算得 1 分 。答案需四舍五入到小数点后 2 位）
Step 2: Substitute the values from 2021 into the equation
第 2 步：将 2021 年的值代入公式
(Two marks for the correct answer or 1 mark for any correct working in the process. Answer needs to be rounded to 2 decimal places where appropriate)
（ 正确答案得 2 分 ，过程中的任何正确运算得 1 分 。答案需四舍五入到小数点后 2 位）
Real GDP/Capita & GNI/Capita
实际人均 GDP 和人均国民总收入
Real GDP per capita = Real GDP / the population
人均实际 GDP=实际 GDP/人口
It shows the mean wealth of each citizen in a country based on the value of GDP
它显示了一个国家基于 GDP 价值的平均财富
This makes it easier to compare standards of living between countries
这使得比较各国的生活水平变得更加容易
E.g. Switzerland has a much higher Real GDP/capita than Burundi
例如，瑞士的人均实际 GDP 比布隆迪高得多
If a country has a real GDP value of $124 billion and its population is 42 million, we can calculate the real GDP/capita as follows
如果一个国家的实际 GDP 值为 1240 亿美元，人口为 4200 万，我们可以按以下方式计算其人均实际 GDP
Real GNI per capita = Real GNI / the population
人均实际国民总收入=实际国民总收入/人口
It shows the mean wealth of each citizen in a country based on the value of GNI
它显示了一个国家基于国民总收入的平均财富
It provides a better comparison of the standards of living between countries than real GDP/capita
它比实际人均 GDP 更能比较各国的生活水平
If a country has a real GNI value of $129 billion and its population is 42 million, we can calculate the real GNI/capita as follows
如果一个国家的实际国民总收入为 1290 亿美元，人口为 4200 万，我们可以按以下方式计算实际人均国民总收入
Real GDP/Capita & GNI/Capita at Purchasing Power Parity (PPP)
按购买力平价（PPP）计算的实际人均 GDP 和人均国民总收入
Purchasing power parity (PPP) is a conversion factor that can be applied to GDP and GNI
购买力平价（PPP） 是可以应用于 GDP 和 GNI 的转换因子
It calculates the relative purchasing power of different currencies
它计算不同货币的相对购买力
It shows the number of units of a country's currency that are required to buy a product in the local economy, as $1 would buy the same product in the USA
它显示了在当地经济中购买某种产品所需的一国货币单位数量 ，因为 1 美元可以在美国购买同样的产品
The aim of PPP is to help make a more accurate standard of living comparison between countries where goods/services cost different amounts
PPP 的目的是帮助对商品/服务价格不同的国家进行更准确的生活水平比较
If a basket of goods costs $150 in Vietnam (once the currency has been converted) and the same basket of goods costs $450 in the USA, the purchasing power parity would be 1:3
如果一篮子商品在越南的价格为 150 美元（货币兑换后），而同一篮子商品在美国的价格为 450 美元 ， 则购买力平价为 1:3
It seems like the cost of living is much higher in the USA
美国的生活成本似乎要高得多
However, if the USA's GNI/capita is more than three times higher than the GNI/capita of Vietnam, it could be argued the USA has better standards of living
然而，如果美国的人均国民总收入比越南高出三倍以上 ，那么可以说美国的生活水平更高
Conversely, if the GNI/capita in the USA was less than three times that of Vietnam, it could be argued that Vietnamese citizens enjoy a higher standard of living as they spend less income to acquire the same goods/services
相反，如果美国的人均国民总收入不到越南的三倍 ，那么可以说越南公民享有更高的生活水平 ，因为他们花费更少的收入来获得相同的商品/服务
Examiner Tips and Tricks
考官提示和技巧
When an exam question uses the phrase 'at constant prices' it is referring to real GDP. For example, a question may read, 'Explain what is meant by a rise in GDP at constant prices'. This requires you to define real GDP and then explain the rise.
当考试题目使用 “按不变价格计算” 时 ，指的是实际 GDP。 例如，题目可能是“解释按不变价格计算的 GDP 增长是什么意思” 。 这要求你定义实际 GDP ，然后解释其增长。
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