传神翻译-山口诚
MBA
A
专业术语汇总
Ability-to-pay prin ciple
能力纳税原则
The idea
that taxes should be levied on a pers on accord
ing to how well that pers on can shoulder the
burde n
Absolute adva ntage
绝对优势
The comparis
on among producers of a good accord ing to their
productivity
Aggregate-dema nd curve
A curve that shows the
总需求曲线
quantity of
goods and services that households, firms, and
the
gover nment want to buy
at any price level
Aggregate-supply
curve
总供给曲线
A
curve that shows the qua ntity of goods and
services that firms choose to produce and sell at
any level
Appreciati on
升值
An in crease
in the value of a curre ncy as measured by the
amount of foreig n curre ncy it can buy
Automatic stabilizers
自动稳定器
Chan ges in
fiscal policy that stimulate aggregate dema nd whe
n the economy goes into a recessi on without
policymakers havi ng to take any
deliberate acti on
Average fixed cost
平均固定成本
Fixed
costs divided by the qua ntity of output
Average revenue
平均收益
Total
revenue divided by the qua ntity sold
Average tax rate
平均税率
Total taxes
paid divided by total in come
Average
total cost
平均总成本
Total cost divided by the qua ntity of
output
Average variable cost
平均可变成本
Variables
costs divided by the qua ntity of output
Accelerator
加速数
the effect on GDP of the in crease in
in vestme nt that results from an in crease in
output. For in sta nee, the
greater
output leads a firm to believe that the dema nd
for its products will rise in the future; the
result ing
in
crease in in vestme nt leads to growth in output
and still further in creases in in vestme nt,
accelerati ng
the expa nsion of the
economy
Acquired en dowme nts
后天禀赋
resources a
country builds for itself, like a n etwork of
roads or an educated populati on
Adaptive expectati ons
适应性预期
expectati
ons based on the extrapolati on of eve nts in the
recent past into the future
aggregate
expe nditures schedule
总支出曲线
a curve that traces out the relati on
ship betwee n expe nditures--the sum of con sumpti
on,
in vestme nt, gover nment expe
nditures, and net exports--a nd the n ati onal in
come, at a fixed price level
an titrust
laws
反托拉斯法
laws
that discourage monopoly and restrictive practices
and encourage greater competiti on
arbitrage
套禾
U
the process by which
assets with comparable risk, liquidity, and tax
treatment are priced to yield comparable
expected retur ns
adverse
selecti on
逆向选择
prin ciple that says that those who
most want to buy in sura nee tend to be those most
at risk, but charg ing a
high price for
in sura nce (to cover the high risk)will
discourage those at less risk from buying in sura
nce at
all
asset
资产
any item that
is Ion g-lived, purchased for the service it ren
ders over its life and for what
one
will receive whe n one sells it
assista
nce in kind
实物援助
public assista nce that provides
particular goods and services, like food or
medical care, rather tha n cash
asymmetric in formati on
信息不对称
a situation
in which the parties to a transaction have
different information, as when the
seller or a used car has more in
formati on about its quality the n the buyer
aut onom ous con sumpti on
自主消费
that part of
con sumpti on that does not depe nd on in come
average costs
平均成本
the total
costs divided by the total output
average productivity
平均产量
total qua
ntity divided by the total qua ntity of input
B
Ben efits prin ciple
受益原贝
U
The idea that people should pay taxes
based on the ben efits they receive from gover
nment services
Bo
nd
债券
A
certificate of in debted ness
Budget
con stra int
预算约束
The limit on the con sumpti on bun dles
that a con sumer can afford
Budget
deficit
预算赤字
An
excess of gover nment spe nding over gover nment
receipts
Budget surplus
预算盈余
An excess of
gover nment receipts over gover nment spe ndin
barriers to entry
进入障碍
factors that
preve nt firms from en teri ng a market, such as
gover nment rules or pate nts
basic
competitive model
基本竞争模型
the model of the economy that pulls
together the assumptions of self-interested con
sumers, profit maximiz ing
firms, and
perfectly competitive markets
bequest
savi ngs motive
储蓄的遗产动机
people save so that they can leave an
in herita nee to their childre n
Bertra
nd competiti on
伯特兰竞争
an oligopoly in which each firm
believes that its rivals are committed to keeping
their prices fixed and that
customers
can be lured away by offeri ng lower prices
bilateral trade
双边贸易
trade betwee
n two parties
boom
繁荣
a period of
time when resources are being fully used and GDP
is growing steadily
C
Capital
资本
The equipme nt and structures used to
produce goods and services
Capital
flight
资本外流
A large and sudde n reducti
on in the dema nd for assets located in a country
Cartel
卡特尔
A group of firms act ing in unison
Catch-up effect
追赶效应
The property
that coun tries that start off poor tend to grow
more rapidly tha n coun tries that start off rich
Central bank
中央银行
An in stituti on desig ned to oversee
the banking system and regulate the qua ntity of
money in the economy
Ceteris paribus
其它条件相同
A Latin
phrase, translated as 'other things being equal,'
used as a reminder that all variables other tha n
the
ones being studied are assumed to
be con sta nt
Circular-flow diagram
循环流向图
A visual
model of the economy that shows how dollars flow
through markets among households and firms
Classical dichotomy
古典二分法
The
theoretical separation of nominal and real
variables
Closed economy
圭寸闭经济
An economy
that does not in teract with other econo mies in
the world
Coase theorem
科斯定理
The
propositi on that if private parties can barga in
without cost over the allocati on of resources,
they can
solve the problem of exter
nalities on their own
Collective barga
ining
集体谈判
The
process by which unions and firms agree on the
terms of employme nt
Collusi on
勾结
An agreement
among firms in a market about quantities to
produce or prices to charge
Commodity
money
商品货币
Money
that takes the form of a commodity with intrin sic
value
Common resources
共有资源
Goods that
are rival but not excludable
Comparable
worth
同工同酬
A
doctri ne accord ing to which jobs deemed
comparable should be paid the same wage
Comparative adva ntage
比较优势
The comparis on among producers of a
good accord ing to their opport un ity cost
Compe nsati ng wage differe ntial
补偿性工资差另
U
A differe nee in wages that arises to
offset the nonmon etary characteristics of differe
nt jobs
Competitive market
竞争市场
A market
with many buyers and sellers trad ing ide ntical
products so that each buyer and
seller
is a price taker
Compleme nts
互补品
Two goods for
which an in crease in the price of one good leads
to a decrease in the
dema nd for the
other good
Con sta nt returns to scale
规模收益不变
The
property that long-run average total cost stays
the same as the quantity of output changes
Con sumer price in dex
消费物价指数
A measure
of the overall cost of the goods and services
bought by a typical con sumer
Con sumer
surplus
消费者剩余
A
buyer's willi ngn ess to pay minus the amount the
buyer actually pays
Con sumptio n
消费
Spending by
households on goods and services, with the excepti
on of purchases of new
hous ing
Cost
成本
The value of everyth ing a seller must
give up to produce a good
Cost-be nefit
an alysis
成本一收益分析
A study that compares the costs and ben
efits to society of providi ng a public good
Crowdi ng-out
expansionary
spe nding
effect
挤出效应
The offset
in
aggregate
rate and
dema nd that results whe n
thereby
reduces investment
fiscal
policy raises the
interest
Currency
通货
The paper
bills and coins in the hands of the public
Cyclical un employme nt
周期性失业
The
deviatio n of un employme nt from its n atural
rate
capital gain
资本增值
the in
crease in the value of an asset betwee n the time
it is purchased and the time it is
sold
capital
market
资本市场
the
market in which savi ngs are made available to in
vestors
categorical assista nee
分类帮助
public
assista nee aimed at a particular category of
people, like the elderly or the disabled
causati on
因果关系
relati on ship that results whe n an
cha nge in one variable is not only correlated
with but actually causes the
cha nge in
ano ther one
cen tral pla nning
中央计戈
U
the system in which cen tral gover
nment bureaucrats (as opposed to private en trepre
neurs or even local gover
nment
bureaucrats) determ ine what will be produced an
how it will be produced
cen tralizatio
n
集权
organizational structure in which
decision making is concentrated at the top
cen trally pla nned economy
中央计划经济
an economy
in which most decisi ons about resource allocati
on are made by the cen tral gover nment
certificate of deposit (CD)
存单
account in
which money is deposited for a preset length of
time, that must yield a slightly higher retur n to
compe nsate for the reduced liquidity
circular flow
循环流程
how funds
move through the capital, labor, and product
markets between households, firms, the gover
nment, and
the foreig n sector
classical econo mists
econo
mists
古典经济学家
before the Great Depressi on who
believed that the basic
did
prevale nt
competitive model
provided a good description of the economy and
that if short periods of unemployment
occur, market forces would quickly
restore the economy to full
employme nt
classical un employme nt
古典失业
un employme
nt that results from too-high real wages; it
occurs in the supply con stra ined equilibrium, so
that
rightwards shifts in aggregate
supply reduce the level of un employme nt
competitive equilibrium price
竞争性均衡价格
the price
at which the quantity supplied and the quantity
demanded are equal to each other
con
sumer protect ion legislati on
消费者保护法
laws aimed at protect ing
con sumers, for in sta nee by assuri ng that con
sumers have more complete in formatio
n
about items they are con sideri ng buying
con sumer sovereig nty
消费者权益
the prin
ciple that holds that each in dividual is the best
judge of what makes him better off
con
sumpti on function
消费函数
the relatio nship betwee n disposable
in come and con sumpti on
con ti ngency
clauses
应变条款
stateme nts within a con tract that
make the level of payme nt or the work to be
performed
con diti onal upon various
factors
corporate in come tax
公司所得税
a tax based
on the in come, or profit, received by a
corporatio n
correlati on
相关
relati on ship
that results whe n a cha nge in one variable is
con siste ntly associated with a cha nge in ano
ther one
cost-push in flatio
n
成本推动型通货膨胀
in
flati on whose in itial cause is a rise in product
ion costs
Cournot competiti on
古诺竞争
an oligopoly
in which each firm believes that its rivals are
committed to a certain level of product ion and
that rivals will reduce their prices as
n eeded to sell that amount
crede
ntials competiti on
文凭竞争
MBAliome
Say
仙
L
口
TO Tour Future
the trend in
which prospective workers acquire higher
educational credentials, not so much because of
anything
they actually learn in the
process but to convince potential employers to
hire them by signaling that they will
be more productive employees than those
with weaker crede ntials
credit
constraint effect
信贷约束效应
whe n prices fall, firms' revenues also
fall, but the money they owe creditors rema ins un
cha nged; as a
result, firms have fewer
funds of their own to in vest. Because of credit
rati oning, firms cannot make up the
differe nee; accord in gly, in vestme
nt decreases
credit rati oning
信贷配给
credit is
rationed when no lender is willing to make a loan
to a borrower or the amount lenders are willing to
lend to borrowers is limited, even if
the borrower is willing to pay more tha n other
borrowers of comparable
risk who are
gett ing loa ns
cross subsidizati on
交叉补贝占
the
practice of charging higher prices to one group of
consumers in order to subsidize lower prices for
ano
ther group
D
Deadweight loss
无谓损失
The reduct
ion in total surplus that results from a tax
Dema nd curve
需求曲线
A graph of
the relati on ship betwee n the price of a good
and the qua ntity dema nded
Dema nd
deposits
活期存款
Bala nces in bank acco unts that
depositors can access on dema nd by writ ing a
check
Dema nd schedule
需求表
A table that
shows the relati on ship betwee n the price of a
good and the qua ntity dema nded
Depreciati on
贬值
A decrease in the value of a curre ncy
as measured by the amount of foreig n curre ncy it
can buy
Depressio n
萧条
A severe
recessi on
Dimi nishi ng marginal
product
边际产量递减
The property whereby the marginal
product of an in put decli nes as the qua ntity of
the in put in creases
The property that the marginal product
of an in put decli nes as the qua ntity of the in
put
in creases
Dimi nishi ng
returns
收益递减
The
property that the ben efit from an extra unit of
an in put decli nes as the qua ntity of the
in put in creases
Discou nt
rate
贴现率
The
interest rate on the loans that the Fed makes to
banks
Discouraged workers
丧失信心的工人
In
dividuals who would like to work but have give n
up look ing for a job
Discrimi natio n
歧视
The offeri ng
of differe nt opport un ities to similar in
dividuals who differ only by race, eth nic
group, sex, age, or other personal
characteristics
Disec ono mies of scale
规模不经济
The
property that l ong-run average total cost rises
as the qua ntity of output in creases
Domi nant strategy
优势战略
A strategy
that is best for a player in a game regardless of
the strategies chose n by the other players
debt
债务
capital, such as bonds and bank loans,
supplied to a firm by lenders; the firm promises
to
repay the amount borrowed with in
terest
dece ntralizati on
分权化
orga ni zati
onal structure in which many in dividuals or sub
un its can make decisi ons
decisi on
tree
决策树
a device
for structured decision making that spells out the
choices and possible con seque nces of alter
native
acti ons
deficit spe
nding
赤字支出
the
situati on that exists whe n gover nment expe
nditures are greater tha n revenues
deflation
通货紧缩
a persiste nt decrease in the gen eral
level of prices
dema nd-c on stra ined
equilibrium
受需求约束的平衡
the equilibrium that occurs when prices
are stuck at a level above that at which aggregate
dema nd equals aggregate supply at the
curre nt price level
dema nd-pull in
flati on
需求拉动型通货膨胀
in flati on
whose in itial cause is aggregate dema nd exceed
ing aggregate supply at the curre nt price level
demographic effects
人口效应
effects that
arise from cha nges in characteristics of the
populati on such as age, birthrates,
and locati on
deregulati on
放松管制
the lift ing
of gover nment regulati ons to allow the market to
function more freely
devaluati on
贬值
a reduct ion
in the rate of excha nge betwee n one curre ncy
and other curre ncies un der a
fixed
excha nge rate system
developed coun
tries
发达国家或工业化国家
the wealthiest n ati ons in the world,
in cludi ng Wester n Europe, the Un ited States,
Can ada,
Japa n, Australia, and New
Zeala nd
dimi nish ing margi nal
utility
边际效用递减
the prin ciple that says that as an in
dividual con sumes more and more of a good, each
successive unit in creases her utility,
or enjoyme nt, less and less
divide nds
股息
that porti on
of corporate profits paid out to shareholders
dow nward rigidity of wages
工资下降刚性
the
situation that exists when wages do not fall
quickly in response to a shift in the dema nd or
supply curve
for labor, result ing in
an excess supply of labor
dual economy
二元经济
the
separatio n in many LDCs betwee n an impoverished
rural sector and an urba n sector
that
has higher wages and more adva need tech no logy
duopoly
双头垄断
an in dustry with only two firms
durable goods
耐用品
goods that provide a service over a nu
mber of years, such as cars, major applia nces,
and furniture
dyn amic con siste ncy
动态一致性
a policy is
said to have dyn amic con siste ncy whe n gover
nment announces a course of
MBAliome
Say
仙
L
口
TO Tour Future
action and
the n has the incen tives to actually carry out
that policy
E
Economics
经济学
The study of
how society man ages its scarce resources
Econo mies of scale
规模经济
The property
that l ong-run average total cost falls as the qua
ntity of output in creases
Efficie ncy
效率
The property
of a resource allocation of maximizing the total
surplus received by all members of society; The
property of society getting the most it
can from its scarce resources
Efficie
ncy wages
效率工资
Above-equilibrium wages paid by firms
in order to in crease worker productivity
Efficie nt scale
有效规模
The qua
ntity of output that mini mizes average total cost
Elasticity
弹性
A measure of the responsiveness of
quantity demanded or quantity supplied to one of
its determi nants
Equilibrium
均衡
A situati on
in which supply and dema nd have bee n brought
into bala nee
Equilibrium price
均衡价格
The price
that bala nces supply and dema nd
Equilibrium qua ntity
均衡数量
The quantity
supplied and the quantity demanded when the price
has adjusted to balance
supply and dema
nd
Equity
平等
The fairness of the distribution of
well-being among the various buyers and sellers;
The
property of distributi ng econo mic
prosperity fairly among the members of society
Excess dema nd
超额需求
A situati on
in which qua ntity dema nded is greater tha n qua
ntity supplied
Excess supply
超额供给
A situati on
in which qua ntity supplied is greater tha n qua
ntity dema nded
Excludability
排他性
The property of a good that a pers on
can be preve nted from using it
Exports
出口
Goods and
services that are produced domestically and sold
abroad; Goods produced
domestically and
sold abroad
Externality
外部性
The impact of
one pers on's actions on the well-be ing of a
bysta nder
econo mic rents
经济租金
payme nts
made to a factor that are in excess of what is
required to elicit the supply of that
factor
efficie ncy wage
theory
效率工资理论
the
theory that pay ing higher wages (up to a point)
lowers total product ion costs, for
in
sta nee by leadi ng to a more productive labor
force
econo mies of scope
范围经济
what exists
when it is less expe nsive to produce two products
together tha n it would be to
produce
each one separately
efficie nt markets
theory
有效市场理论
the
theory that all available information is reflected
in the current price of an asset
elasticity of labor supply
劳动供给弹性
the perce
ntage cha nge in labor supplied result ing from a
1% cha nge in wages
equity, shares,
stock
股票
terms
that in dicate part own ership of a firm, which
the firm sells in order to raise mon ey, or
capital
equity capital
股份资本
capital,
such as shares (or stock), supplied to a firm by
its owners(shareholders);
retur ns
received by the owners are not guara nteed but
depe nd on how well the firm does
excha
nge efficie ncy
交换的效率
the con diti on in which whatever the
economy produces is distributed among in dividuals
in
an efficie nt way
excha
nge rate
汇率
the
rate at which one currency (such as dollars) can
be exchanged for another(such as
marks,
yen, or poun ds)
the
excise tax
货物税
a tax on a
particular good or service
expected
return
预期收益
the
average retur n--a sin gle nu mber that comb ines
the various possible retur ns per dollar in vested
with
the cha nces that each of these
retur ns will actually be paid
export-
led growth
出口导向型增长
the strategy that government should
encourage exports in which the country has a
comparative adva ntage to
stimulate
growth
F
Factors of product
ion
生产要素
The in
puts used to produce goods and services
Federal Reserve (Fed)
联邦储备
The cen tral
bank of the Un ited States
Fiat money
法定货币
Money
without i ntrin sic value that is used as money
because of gover nment decree
Finan
cial in termediaries
金融中介机构
Finan cial in stituti ons through which
savers can in directly provide funds to borrowers
Finan cial markets
金融市场
Finan cial
in stituti ons through which savers can directly
provide funds to borrowers
Finan cial
system
金融体系
The
group of institutions in the economy that help to
match one person's saving with ano ther pers on's
in
vestme nt
Fisher effect
费雪效应
The on
e-for- one adjustme nt of the nominal in terest
rate to the in flati on rate
Fixed cost
固定成本
Costs that
do not vary with the qua ntity of output produced
Fraction al-reserve banking
部分准备金银行体系
A
banking system in which banks hold only a fracti
on of deposits as reserves
Free rider
搭便车者
A pers on
who receives the ben efit of a good but avoids pay
ing for it
factor dema nd
要素需求
the amount
of an in put dema nded by a firm, give n the price
of the in put and the qua ntity of
output being produced; an in put will
be dema nded up to the point where the value of
the
in put's marginal product equals
the price of the in put
federal gover
nment structure
联邦政府结构
a system in which gover nment activity
takes place at several levels--n ati on al, state,
coun ty, city, and
others
firm wealth effect
厂商的财富效应
lower
prices or lower dema nd cause firms' profits and
net worth to fall, and this makes
them
less willi ng to un dertake the risks in volved
with in vestme nt
fiscal policies
财政政策
policies
that affect the level of gover nment expe nditures
and taxes
fixed excha nge rate system
固定汇率体系
an excha
nge rate system in which the value of each curre
ncy is fixed in relati on ship to
other
curre ncies
flexible excha nge rate
system
浮动汇率体系
a
system in which exchange rates are determined by
market forces, the law of supply and
dema nd, without gover nment in terfere
nee
fixed or overhead in puts
不变投入或分摊投入
in puts
that do not cha nge depe nding on the qua ntity of
output, at least over the short term
flow statistics
流量统计
measurements
of a certain rate of quantity per
period of time, such as GDP, which
measures output per year
full-employme nt deficit
充分就业赤字
the budget
deficit that would have prevailed if the economy
were at full employme nt, thus
with
higher tax revenues and lower public assista nee
expe nditures
full-employme nt output/
pote ntial output
充分就业产出或潜在产出
the
level of output that would prevail if labor were
fully employed (output may exceed that level if
workers
work more tha n the no rmal
level of overtime)
G
GDP
deflator
平减指数
A measure of the price
level calculated as the ratio of nominal GDP to
real GDP times 100
Game theory
博弈理论
The study of
how people behave in strategic situati ons
Giffe n good
吉芬物品
A good for which an in crease in the
price raises the qua ntity dema nded
Gross domestic product (GDP)
国内生产总值
The market
value of all final goods and services produced
with in a country in a give n
period of
time
Gross natio nal product (GNP)
国名生产总值
The market
value of all final goods and services produced by
perma nent reside nts of a
n atio n
with in a give n period of time
gains
from trade
交易所得
the ben efits that each side enjoys
from a trade
GDP per capita
人均国内生产总值
the
value of all goods and services produced in the
economy divided by populati on
gen eral
equilibrium an alysis
一般均衡分析
a simulta neous an alysis of all
capital, product, and labor markets throughout the
economy
Gi ni coefficie nt
基尼系数
a measure of
in equality (equal to twice the area betwee n the
45 degree line and the
Lore nz curve)
gree n revolutio n
绿色革命
the
invention and dissemination of new seeds and
agricultural practices that led to vast
in creases in agricultural output in
LDCs duri ng the 1960's and 1970's
H
Horiz on tal equity
横向公平
The idea
that taxpayers with similar abilities to pay taxes
should pay the same amount
Human
capital
人力资本
The
knowledge
and skills that workers
acquire through education,
training,
and
experie nce;The accumulati on of in
vestme nts in people, such as educatio n and on-
the-job training
horiz on tai in tegratio n
横向一体化
the
integration of a firm with other firms producing
the same product (at the same level of product
ion)
horiz on tal merger
横向兼并
a merger
betwee n two firms that produce the same goods
horiz on tal restrict ions
横向约束
restrict
ions (such as an agreeme nt not to compete in
price or to en ter each others' markets) by
competing
firms (at the same level of
production, for instanee, among producers, or
among wholesalers, or among retailers)
hostile takeover
恶意收购
whe n one
man ageme nt team (one firm) takes over the con
trol of ano ther, aga inst the will
of
the sec ond firm
I
Import
quota
进口限额
A
limit on the quantity of a good that can be
produced abroad and sold domestically
Imports
进口
Goods and services that are produced
abroad and sold domestically
In-ki nd
tran sfers
实物转移支付
Tran sfers to the poor give n in the
form of goods and services rather tha n cash
In come effect
收入效应
The change
in consumption that results when a price change
moves the consumer to a higher or lower in differe
nee curve
In come elasticity
of dema nd
需求收入弹性
A measure of how much the quantity
demanded of a good responds to a change in con
sumers' in come, computed as
the perce
ntage cha nge in qua ntity dema nded divided by
the perce ntage cha nge in in come
In
dexati on
指数化
The
automatic correct ion of a dollar figure for the
effects of in flati on by law or con tract
In differe nee curves
无差异曲线
bundles
that give the consumer the same level of
Curves that show consumption
satisfact ion A good for which an in
crease in in come reduces the qua ntity dema nded
Inferior good
低档商品
A good for
which, other things being equal, an in crease in
in come leads to a decrease in qua ntity dema nded
In
flation
通货膨胀
An in
crease in the overall level of prices in the
economy
In flation rate
通货膨胀率
The perce
ntage cha nge in the price in dex from the precedi
ng period
Internalizing an externality
外部性的内在化
Alteri ng
incen tives so that people take acco unt of the
exter nal effects of their acti ons
In
vestme nt
投资
Spending on capital equipme nt,
purchases of new hous ing
inven tories,
and
structures, in cludi ng household
imperfect competiti on
不完全竞争
any market
structure in which there is some competitio n but
firms face dow nward-slop ing dema nd curves
implicit contract
隐含合同
an unwritten
understanding between two groups involved in an
exchange, such as an understanding between
employer
and employees that employees
will receive a stable wage throughout fluctuati ng
econo mic con diti ons
import fun ctio
n
进口函数
the
relatio nship betwee n imports and n ati onal in
come
in complete markets
不完全市场
situations
in which no market may exist for some good or for
some risk, or in which some
in
dividuals cannot borrow for some purposes
increasing, constant or diminishing
returns to scale
规模收益递增
/
不变
/
递减
whe n all in puts are in creased by a
certa in proporti on, output in creases by a
greater proport ion (also
known as
econo mies of scale)
in dex ing
指数化
the formal
linking of any payment to a price index
in dividual in come tax
个人所得税
a tax based
on the in come received by any in dividual or
household
infant in dustry argume nt
for protect ion
幼稚工业保护论
the argume nt that in dustries must be
protected from foreig n competiti on while they
are
MBAlicme
Say
仙
L
口
TO Tour Future
young, un til
they have a cha nee to acquire the skills to en
able them to compete on equal terms
infin ite elasticity of dema nd
无限需求弹性
the
situation that exists when any amount will be
demanded at a particular price, but nothing will
be demanded
if the price rises even a
small amount
infinite elasticity of
supply
无限供给弹性
situation that exists when any amount
will be supplied at a particular price, but
nothing will be supplied if
the price
falls even a small amount
in flation
tax
通货膨胀税
the
decrease in buying power (wealth) that in flati on
imposes on those who hold curre ncy
(and other assets, like bon ds, the
payme nts for which are fixed in terms of dollars)
in flatio nary spiral
通货膨胀螺旋
a self-
perpetuati ng system in which price in creases
lead to higher wages, which lead to further price
in
creases
in frastructure
基础设施
the roads,
ports, bridges, and legal system that provide the
n ecessary basis for a work ing economy
insider-outsider theory
局内人一局外人理论
the
theory that firms are reluctant to pay new workers
(outsiders) a lower wage than curre nt workers (in
siders), because curre nt workers will
fear bein greplaced by the
log-wage
workers and will not participate in cooperating
with and training them
new
interest
利息
the return a saver receives in addition
to the original amount she deposited, and the
amount that a borrower
must pay in
additi on to the origi nal amount she deposited
in terest rate effect
利率效应
the situati
on that exists whe n lower in terest rates (result
ing from an in crease in the money supply, or a
fall in the price level) in duce firms
to in vest more
in vestme nt schedule
投资曲线
the
relationship between the level of investment and
the (real) rate of interest
in vestme
nt tax credit (ITC)
投资税减免
a provision of the tax code in which
the government reduces a company's tax bill by an
amount equal to a perce
ntage of its
spe nding on in vestme nt
involuntary
un employme nt
非自愿失业
MBAlicme
Say
仙
L
口
TO Tour Future
the situati
on that occurs whe n the supply of those willi ng
to work at the going market wage exceeds the dema
nd for labor
J
Job search
寻找工作
The process by which workers find
appropriate jobs given their tastes and skills
K
Keyn esia n mon etary
theory
凯恩斯货币理论
凯恩斯失业
Keyn esia n
un employme nt
un employme nt that
occurs as a result of in sufficie nt aggregate
dema nd; it arises in the dema nd-c on stra
ined equilibrium (where aggregate dema
nd is less tha n aggregate supply), so that
rightward shifts in
aggregate dema nd
reduce the level of un employme nt
kin
ked dema nd curve
有折点的需求曲线
the dema nd curve perceived by an
oligopolist who believes that rivals will match
any price cuts but will not
match price
in creases
L
Labor force
劳动力
The total nu
mber of workers, in cludi ng both the employed and
un employed
Labor-force participati on
rate
劳动力参工率
The
perce ntage of the populatio n that is in the
labor force
Law of dema nd
需求规律
The claim
that, other things being equal, the qua ntity dema
nded of a good falls whe n the price of the good
rises
Law of supply
供给规律
The claim
that, others things being equal, the quantity
supplied of a good rises when the price of the
good
rises
Law of supply and
dema nd
供求规律
The
claim that the price of any good adjusts to bring
the supply and dema nd for that good into bala nee
Life Cycle
生命周期
The regular pattern of in come variati
on over a pers on's life
Liquidity
流动性
The ease with which an asset can be con
verted into the econom y's medium of excha nge
Lump-sum tax
定额税
A tax that is the same amount for every
pers on
learning by doing
干中学
the in crease
in productivity that occurs as a firm gains
experie nee from produc ing, and that results in a
decrease in the firm's producti on
costs
learni ng curve
学习曲线;经验曲线
the
curve describ ing how costs of product ion decli
ne as cumulative output i ncreases over
time
less developed cou
ntries (LDCs)
发展中国家
the poorest nations of the world,
including much of Africa, Latin America, and Asia
life-cycle hypothesis
生命周期假说
the theory
that individuals typically save when they are
young and working and spend their savi ngs as they
age
and retire
life-cycle
sav ings motive
生命周期储蓄动机
people save during their working lives
so that they can consume more during retirement
limit pricing
限制性定价
the
practice of charging a lower price than
the level at which
marginal
revenue equals
marginal cost, as a way
of deterring entry by persuading potential
competitors that their profits from entering
are likely to be limited
Lorenz curve
洛伦兹曲线
a curve
that shows the cumulative proporti on of in come
that goes to each cumulative proport ion of the
populati on, start ing with the lowest
in come group
Luddites
卢德派分子
early nin etee nth-ce ntury workme n
who destroyed labor-savi ng mach inery rather tha
n see it tak ing over
their jobs
M
Macroec onomics
宏观经济学
phenomena,
including
inflation,
unemployment,
and
The study of economy-wide
econo mic growth
Marginal
cha nges
边际变动
Small in creme ntal
adjustme nts to a pla n of actio n
Margi nal cost
边际成本
The in
crease in total cost that arises from an extra un
it of product ion
Marginal product
边际产量
The in
crease in output that arises from an additi onal
un it of in put
Marginal product of
labor
劳动的边际产量
The
in crease in the amount of output from an additi
onal un it of labor
Margi nal rate of
substituti on
边际替代率
The rate at which a con sumer is willi
ng to trade one good for ano ther
Margi
nal revenue
边际收益
The cha nge in total reve nue from an
additi onal un it sold
Margi nal tax
rate
边际税率
The
extra taxes paid on an additi onal dollar of in
come
Market
市场
A group of buyers and sellers of a
particular good or service
Market
economy
市场经济
An
economy that allocates resources through the dece
ntralized decisi ons of many firms and households
as they
in teract in markets for goods
and services
Market failure
市场失灵
A situation
in which a market left on its own fails to
allocate resources efficiently
Market
for loa nable fu nds
可贷资金市场
The market i n which those who want to
save supply funds and those who want to borrow to
in vest dema nd funds
Market power
市场力量
The ability
of a si ngle econo mic factor (or small group of
factors) to have a substa ntial in flue nee on
market prices
Medium of
excha nge
交换媒介
An
item that buyers give to sellers whe n they want
to purchase goods and services
Menu
costs
菜单成本
The
costs of cha nging prices
Microec on
omics
微观经济学