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  • How do you measure the size of an entire economy?

    你如何衡量一整個經濟體的規模?

  • Let's say I buy a coffee here in London for £3.

    舉個例子,我在倫敦花了 3 英榜買了一杯咖啡

  • Those £3 are factored into the United Kingdom's GDP.

    這 3 英榜就會算到英國的 GDP 裡

  • And so is this barista's salary.

    這位咖啡師的薪資也是

  • And this espresso machine.

    濃縮咖啡機也不例外

  • In fact, most of what's around you is part of GDP.

    事實上,在你身邊大部分的東西都是 GDP 的一部分

  • GDP is an important gauge of the overall health of an economy. It stands for:

    GDP 是用來估算經濟體整體健康的重要量表。它代表:

  • Gross Domestic Product

    國內生產總值

  • Simply put, GDP measures the total value of all goods and services in a country.

    簡單來說,GDP 衡量一國所有貨品和服務的總價值

  • That means it measures a lot of stuff worth a lot of money.

    那意味著它計算許多高價值的東西

  • Here in the U.K., GDP is around two-and-a-half trillion dollars per year.

    在英國,每年 GDP 約有 2.5 兆

  • In the United States, the world's biggest economy, it's around $19 trillion every year.

    在美國,世界上最大的經濟體,GDP 每年約有 19 兆

  • How do you get to these numbers?

    這些數字從何而來?

  • Well, you can calculate GDP in a few different ways, but the most commonly used equation goes like this:

    你可以用一些不同的方式計算 GDP,但以下這個公式是最常用的:

  • consumption plus investment plus government spending plus net exports equals GDP.

    消費 + 投資 + 政府開銷 + 淨出口 = GDP

  • Let's break that down.

    我們一個個來看

  • Consumption is another way of saying consumer spending.

    消費就是指消費者花費

  • It's the money you or I spend on physical goods, like coffee, and on services, like a haircut.

    那是你我花在有形貨品和服務上的錢,比如咖啡或是理髮

  • In many developed economies like the U.K. or the U.S.,

    在許多已開發國家中,像是英國或美國

  • consumer spending makes up more than half of a country's GDP.

    消費者花費占了一國的 GDP 總額一半以上

  • The second part of the GDP equation is investment.

    GDP 公式的第二部分是投資

  • This measures how much businesses spend on things like buildings, land and equipment.

    它計算企業在建築、土地和設備上花了多少

  • It also includes a major consumer investment - buying a home.

    它也包含了一項主要的消費者投資 - 購房

  • Investment can take a hit when the economy is suffering.

    當景氣低時,投資會大受打擊

  • You can see that in this chart domestic business investment

    在這張表中,你可以看到在金融景氣期間

  • plummeted in the U.S. during the financial crisis.

    美國的國內企業投資驟降

  • That's because companies were trying to save money instead of

    那是因為公司在想辦法省錢

  • putting it toward things like factories, machinery and equipment.

    而非投錢到工廠、機器和設備上

  • Okay, now we get to government spending.

    好,現在我們來到政府開銷

  • This is the money local, state and national governments spend on things like roads, schools and defense.

    這些是當地、州和國家政府花在道路、學校和防衛上的錢

  • Government spending varies a lot depending on each country's approach to public goods and services.

    依據不同的公共建設和服務方針,各國的政府開銷會非常不同

  • Take for example France, where government spending amounts to roughly 56% of GDP.

    舉例來說,法國的政府開銷就占了約 56 % 的 GDP

  • That's compared to 41% in the U.K. and 38% in the U.S.

    相比之下,英國 41 %,美國的則是 38 %

  • That brings us to the final part of the GDP calculation: net exports, or exports minus imports.

    我們聊到 GDP 公式的最後一部分:淨出口,或說是出口減去進口

  • A lot of countries have negative net exports, meaning they bring in more products than they send out.

    許多國家都有貿易逆差,意味著他們帶進來的貨物比寄出的要多

  • For example, the U.K. imports around $1 billion worth of coffee every year

    舉例來說,英國每年進口價值約 10 億的咖啡

  • but only exports around $315 million, meaning its net exports of coffee are negative.

    但是只有出口約 3 億 1500 萬,代表她的咖啡淨出口為負

  • Countries around the world collect data on consumption, investment, government spending and net exports.

    世界各地的國家搜集消費、投資、政府開銷和淨出口的數據

  • This makes GDP a universal measurement and a way for countries to stack up against one another.

    這使得 GDP 成為一個全球性的度量衡,也是國家彼此較勁的方式

  • But it's not just the sum of the equation people look at.

    但是人們並不只是看公式的總額

  • You'll often hear about the GDP growth rate, or the percentage change in GDP over time.

    你常常會聽到 GDP 成長率,或是期間內的 GDP 變化百分比

  • Generally, if an economy is healthy, GDP growth expands.

    普遍來說,一個健康的經濟體會有成長的 GDP

  • If an economy is in bad shape, GDP growth contracts.

    如果一個經濟體狀況不好,GDP 會收縮

  • Two consecutive quarters of negative GDP growth are referred to as a recession.

    連續兩季 GDP 負成長就會被稱作不景氣

  • But GDP doesn't always give a full picture of the economy.

    但是 GDP 並不總是能反映出一個經濟體的全貌

  • Critics say the equation puts too much weight on production and manufacturing,

    評論家指出,這個公式著重太多在生產和製造上

  • and not enough on services and the digital economy.

    在服務和虛擬經濟上則不夠

  • Just think of Spotify. For $10 a month you can listen to unlimited music from a huge range of artists.

    想想 Spotify。每個月花個 10 美金,你就能收聽許多藝術家的無限量音樂

  • In the past, you would have had to buy all of those albums separately, with each one contributing to GDP.

    在過去,你會需要個別購買這些專輯,每一個都會貢獻給 GDP

  • It's hard to factor a digital service like Spotify into the GDP equation

    要將像是 Spotify 的虛擬服務算進 GDP 公式有難度

  • which is used to measuring physical goods.

    因為該公式是用來計算有形商品

  • GDP also doesn't measure economic equality and well-being.

    GDP 同樣無法計算出經濟平等和健全性

  • So even if a country is really rich according to GDP, wealth may be spread unevenly.

    所以即使一國的 GDP 很高,財富也未必平均分配

  • Plus, GDP excludes unpaid work like volunteering for charity or child care.

    再者,GDP 排除了不支薪的工作,像是慈善基金會或是小孩照護的志工

  • And it doesn't factor in costs like pollution or illegal activity.

    而且它也不計算像是污染和非法行動的耗資

  • Some experts have come up with alternative measures to GDP

    一些專家得出了幾種 GDP 的替換估算方式

  • that measure overall happiness and quality of life.

    可以計算整體幸福指數和生活平等

  • But so far, none of these have stuck.

    但是目前為止還沒有任何一個受廣泛使用

  • Maybe it's just too hard to put an economic value on that first sip of morning joe.

    或許要計算出每早第一口咖啡的經濟價值就已經是太難了

  • Hey everyone, Elizabeth here. Thanks so much for watching our video.

    大家好,我是 Elizabeth。謝謝收看我們的影片

  • Be sure to check out more of your CNBC Explains over here.

    務必來這裡看看更多的 CNBC Explains

  • And leave us any other ideas in the comments section.

    在留言欄留給我們其他的想法吧

  • Talk to you later!

    再會!

How do you measure the size of an entire economy?

你如何衡量一整個經濟體的規模?

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