P
Perfectcomplements完全互补品
Twogoodswithright-angleindifferencecurves
Perfectsubstitutes完全替代品
Twogoodswithstraight-lineindifferencecurves
Permanentincome持久收入
Aperson'snormalincome
Phillipscurve菲利普斯曲线
Acurvethatshowstheshort-runtradeoffbetweeninflationandunemployment
Physicalcapital物质资本
Thestockofequipmentandstructuresthatareusedtoproducegoodsandservices
Pigoviantax庇古税
Ataxenactedtocorrecttheeffectsofanegativeexternality
Positivestatements实证表述
Claimsthatattempttodescribetheworldasitis
Povertyline贫困线
Anabsolutelevelofincomesetbythefederalgovernmentforeachfamilysizebelowwhichafamilyisdeemedtobeinpoverty
Povertyrate贫困率
Thepercentageofthepopulationwhosefamilyincomefallsbelowanabsolutelevelcalledthepovertyline
Priceceiling价格上限
Alegalmaximumonthepriceatwhichagoodcanbesold
Pricediscrimination价格歧视
Thebusinesspracticeofsellingthesamegoodatdifferentpricestodifferentcustomers
Priceelasticityofdemand需求价格弹性
Ameasureofhowmuchthequantitydemandedofagoodrespondstoachangeinthepriceofthatgood,computedasapercentagechangeinquantitydemandeddividedbythepercentagechangeinprice
Priceelasticityofsupply供给价格弹性
Ameasureofhowmuchthequantitysuppliedofagoodrespondstoachangeinthepriceofthatgood,computedasthepercentagechangeinquantitysupplieddividedbythepercentagechangeinprice
Pricefloor价格下限
Alegalminimumonthepriceatwhichagoodcanbesold
Prisoners'dilemma囚犯的两难处境
Aparticular'game'betweentwocapturedprisonersthatillustrateswhycooperationisdifficulttomaintainevenwhenitismutuallybeneficial
Privategoods私人物品
Goodsthatarebothexcludableandrival
Privatesaving私人储蓄
Theincomethathouseholdshaveleftafterpayingfortaxesandconsumption
Producerpriceindex生产物价指数
Ameasureofthecostofabasketofgoodsandservicesboughtbyfirms
Producersurplus生产者剩余
Theamountasellerispaidforagoodminustheseller'scost
Productionfunction生产函数
Therelationshipbetweenquantityofinputsusedtomakeagoodandthequantityofoutputofthatgood
Productionpossibilitiesfrontier生产可能性边界
Agraphthatshowsthevariouscombinationsofoutputthattheeconomycanpossiblyproducegiventheavailablefactorsofproductionandtheavailableproductiontechnology
Productivity生产率
Theamountofgoodsandservicesproducedfromeachhourofaworker'stime;Thequantityofgoodsandservicesproducedfromeachhourofaworker'stime
Profit利润
Totalrevenueminustotalcost
Progressivetax累进税
Ataxforwhichhigh-incometaxpayerspayalargerfractionoftheirincomethandolow-incometaxpayers
Proportionaltax比例税
Ataxforwhichhigh-incomeandlow-incometaxpayerspaythesamefractionofincome
Publicgoods公共物品
Goodsthatareneitherexcludablenorrival
Publicsaving公共储蓄
Thetaxrevenuethatthegovernmenthasleftafterpayingforitsspending
Pareto-efficientallocations帕雷托有效配置
resourceallocations,thatcannotmakeapersonbetteroffwithoutmakingsomeoneelseworseoff
partialequilibriumanalysis局部均衡分析
ananalysisthatfocusesononlyoneorafewmarketsatatime
partnership合伙制
abusinessownedbytwoormoreindividuals,whosharetheprofitsandarejointlyliableforanylosses
patent专利
agovernmentdecreegivinganinventortheexclusiverighttoproduce,use,orsellaninvention
paternalism父爱主义
themakingofjudgmentsbygovernmentaboutwhatisgoodforpeopletohave,ratherthanlettingpeoplechooseontheirown
payrolltax工薪税
ataxbasedonpayroll(wages)thatisusedtofinancetheSocialSecurityandMedicareprograms
perfectcompetition完全竞争
situationinwhicheachfirmisapricetaker--itcannotinfluencethemarketprice;atthemarketpricethefirmcansellasmuchasitwishes,butifitraisesitsprice,itlosesallsales
perfectlymobilecapita具有完全流动性的资本
capitalthatrespondsquicklytochangesinreturnsindifferentcountries
permanent-incomehypothesis永久收入假说
thetheorythatindividualsbasetheircurrentconsumptionlevelsontheirpermanent(long-runaverage)income
permanent-incomesavingsmotive永久收入储蓄动机
peoplesaveingoodyears,totidethemoverinbadyears;theychoosetheirpatternofsavingsandspendingyearbyyeartoaverageorsmooththeirconsumptionovergoodyearsandbad
piece-ratesystem计件工资制度
acompensationsysteminwhichworkersarepaidspecificallyforeachitemproduced
plannedorunplannedinventories计划或无计划库存
plannedinventoriesarethosefirmschoosetohaveonhandbecausetheymakebusinessmoreefficient;unplannedinventoriesresultwhencannotsellwhattheyproduce
policyineffectiveness政策无效性命题
thepropositionthatgovernmentpoliciesareineffective--policiesaimedatstimulatingaggregatedemandatmostchangethepricelevel
plannedeconomy计划经济
aneconomyinwhichmostdecisionsaboutresourceallocationaremadebythegovernment
portfoliotheories资产组合理论
theoriesthatarguethatmonetarypolicyaffectsoutputthroughitseffectonpricesofvariousassets,inparticularthepricesofstocks
portfolio资产组合
aninvestor'sentirecollectionofassetsandliabilities
potentialGDP潜在GDP
ameasureofwhatthevalueofGDPwouldbeiftheeconomy'sresourceswerefullyemployed
potentialoutput潜在产出
thelevelofoutputthatwouldprevailiflaborwerefullyemployed(outputmayexceedthatlevelifworkersworkmorethanthenormallevelofovertime)
precautionarysavingsmotive谨慎储蓄动机
peoplesavetoguardagainstthechanceofanunexpectedillnessoraccident
predatorypricing掠夺性定价
thepracticeofcuttingpricesbelowthemarginalcostsofproductiontodriveoutanewfirm(ortodeterfutureentry),atwhichpointpricescanberaisedagain
presentdiscountedvalue现期贴现值
howmuchanamountofmoneytobereceivedinthefutureisworthrightnow
priceindex价格指数
ameasureofthelevelofpricesfoundbycomparingthecostofacertainbasketofgoodsinoneyearwiththatcostinabaseyear
principal本金
theoriginalamountasaverdepositsinabankoraborrowerborrows
principal-agentproblem所有者—代理人问题
anysituationinwhichoneparty(theprincipal)needstodelegateactionstoanotherparty(theagent),andthuswishestoprovidetheagentwithincentivestoworkhardandmakedecisionsaboutriskthatreflectstheinterestsoftheprincipal
privatemarginalcost私人边际成本
themarginalcostofproductionbornebytheproducerofagood;whenthereisanegativeexternality,suchasairpollution,privatemarginalcostislessthansocialmarginalcost
privatization私有化
theprocesswherebyfunctionsthatwereformallyrunbythegovernmentaredelegatedinsteadtotheprivatesector
productdifferentiation产品差异
thefactthatsimilarproducts(likebreakfastcerealsorsoftdrinks)areperceivedtodifferfromoneanotherandthusareimperfectsubstitutes
productmarket产品市场
themarketinwhichgoodsandservicesareboughtandsold
product-mixefficiency产品组合效应
theconditioninwhichthemixofgoodsproducedbytheeconomyreflectsthepreferencesofconsumers
productionefficiency生产效率
theconditioninwhichfirmscannotproducemoreofsomegoodswithoutproducinglessofothergoods
productivity(GDPperhour)生产率/平均每人时的GDP
howmuchanaverageworkerproducesperhour,calculatedbydividingrealGDPbyhoursworkedintheeconomy
proprietorship独资企业
abusinessownedbyasingleperson,usuallyasmallbusiness
protectionism保护主义
apolicyofprotectingdomesticindustriesfromforeign-madecompetition
pureprofit(monopolyrents)纯利润或垄断租金
theprofitearnedbyamonopolistthatresultsfromitsreducingoutputandincreasingthepricefromthelevelatwhichpriceequalsmarginalcost
Q
Quantitydemanded需求量
Theamountofagoodthatbuyersarewillingandabletopurchase
Quantityequation货币数量方程式
TheequationMxV=PxY,whichrelatesthequantityofmoney,thevelocityofmoneyandthedollarvalueoftheeconomy'soutputofgoodsandservices
Quantitysupplied供给量
Theamountofagoodthatsellersarewillingandabletosell
Quantitytheoryofmoney货币数量论
Atheorythatassertsthatthequantityofmoneyavailabledeterminesthepricelevelandthatthegrowthrateinthequantityofmoneyavailabledeterminestheinflationrate;Thetheorythatvelocityisconstant,sothatchangesinthemoneysupplyleadtoproportionalechangesinnominalincome(whichalsoequalsthevalueofoutput)
quotarents配额租金
profitsthataccruetofirmswhichareallocatedtherightstoimportagoodsubjecttoquotasthatresultfromtheartificiallycreatedscarcity
quotas配额
limitsontheamountofforeigngoodsthatcanbeimported
R
Rationalexpectations理性预期
Thetheoryaccordingtowhichpeopleoptimallyusealltheinformationtheyhave,includinginformationaboutgovernmentpolicies,whenforecastingthefuture
RealGDP实际GDP
Theproductionofgoodsandservicesvaluedatconstantprices
Realexchangerate实际汇率
Therateatwhichapersoncantradethegoodsandservicesofonecountryforthegoodsandservicesofanother
Realinterestrate实际利率
Theinterestratecorrectedfortheeffectsofinflation
Realvariables实际变量
Variablesmeasuredinphysicalunits
Recession衰退
Aperiodofdecliningrealincomesandrisingunemployment
Regressivetax累退税
Ataxforwhichhigh-incometaxpayerspayasmallerfractionoftheirincomethandolow-incometaxpayers
Reserveratio准备金率
Thefractionofdepositsthatbanksholdasreserves
Reserverequirements法定准备金
Regulationsontheminimumamountofreservesthatbanksmustholdagainstdeposits
Reserves准备金
Depositsthatbankshavereceivedbuthavenotlentout
Rivalness竞争性
Thepropertyofagoodthatoneperson'susediminishesotherpeople'suse
randomwalk随机行走
atermusedtodescribethewaypricesofstockmove,wherethenextmovementcannotbepredictedonthebasisofpreviousmovements
rationingsystems配给制
waysofdistributinggoodsthatdonotrelyonprices,suchasqueues,lotteries,andcoupons
realbalanceeffect实际余额效应
aspricesfall,therealvalueofpeople'smoneyholdingsincreases,andtheyconsumemore
realbusiness-cycletheorists实际经济周期理论家
aschoolofeconomistswhocontendthattheeconomy'sfluctuationshavenothingtodowithmonetarypolicybutaredeterminedbyrealforces
realincome实际收入
incomemeasuredbywhatitcanactuallybuy,ratherthanbytheamountofmoney
realproductwage实际产品工资
thewagedividedbythepriceofthegoodbeingproduced
regulatorycapture管制俘虏
atermusedtodescribeasituationinwhichregulatorsservetheinterestsoftheregulatedratherthantheinterestsofconsumers
relativeperformancecompensation相对表现补偿
pay(compensation)basedonperformanceonthejobrelativetootherswhohavesimilarresponsibilitiesandauthority
rentseeking寻租
thenamegiventobehaviorthatseekstoobtainbenefitsfromfavorablegovernmentdecisions,suchasprotectionfromforeigncompetition
revenuecurve收益曲线
therelationshipbetweenafirm'stotaloutputanditsrevenue
revenues收益
theamountafirmreceivesforsellingitsproducts,equaltothepricereceivedmultipliedbythequantitysold
right-to-worklaws工作权利法
lawsthatpreventunionmembershipfrombeingaconditionofemployment
riskaverse/loving/neutral厌恶风险/喜爱风险/中性风险
givenequalexpectedreturnsanddifferentrisksriskaversepeoplewillchooseassetswithlowerrisk,risklovingpeoplewillchooseassetswithhigherrisk,andrisk-neutralindividualswillnotcareaboutdifferencesinrisk
riskpremium风险收益
theadditionalinterestrequiredbylendersascompensationfortheriskthataborrowermaydefault;moregenerally,theextrareturnrequiredtocompensateaninvestor
S
Sacrificeratio牺牲率
Thenumberofpercentagepointsofannualoutputthatislostintheprocessofreducinginflationbyonepercentagepoint
Scarcity希缺性
Thelimitednatureofsociety'sresources
Shoeleathercosts皮鞋成本
Theresourceswastedwheninflationencouragespeopletoreducetheirmoneyholdings
Stagflation滞胀
Aperiodoffallingoutputandrisingprices
Stock股票
Aclaimtopartialownershipinafirm
Storeofvalue价值储藏
Anitemthatpeoplecanusetotransferpurchasingpowerfromthepresenttothefuture
Strike罢工
Theorganizedwithdrawaloflaborfromafirmbyaunion
Substitutes替代品
Twogoodsforwhichanincreaseinthepriceofonegoodleadstoanincreaseinthedemandfortheothergood
Substitutioneffect替代效应
Thechangeinconsumptionthatresultswhenapricechangemovestheconsumeralongagivenindifferencecurvetoapointwithanewmarginalrateofsubstitution
Supplycurve供给曲线
Agraphoftherelationshipbetweenthepriceofagoodandthequantitysupplied
Supplyschedule供给表
Atablethatshowstherelationshipbetweenthepriceofagoodandthequantitysupplied
screening筛选
theprocessofdifferentiatingamongjobcandidates,whenthereisincompleteinformation,todeterminewhowillbethemostproductive
shadowprice影子价格
thetruesocialvalueofaresource
signaling信号
conveyinginformation,forexamplebyearningacollege-degree,topersuadeanemployerthataprospectiveworkerhasdesirablecharacteristicsthatwillenhancehisproductivity
slope斜率
theamountbywhichthevaluealongtheverticalaxisincreasesasaresultofachangeinaunitalongthehorizontalaxis;theslopeiscalculatedbydividingthechangeintheverticalaxis(the"rise")bythechangeinthehorizontalaxis(the"run")
Smith's"invisiblehand"斯密“看不见的手”
theideathatifpeopleactintheirownself-interest,theywilloftenalsobeactinginabroadersocialinterest,asiftheyhadbeendirectedbyan"invisiblehand"
smoothingconsumption均匀消费
consumingsimilaramountsinthepresentandfuture,ratherthanlettingyear-to-yearincomedictateconsumption
socialmarginalcost社会边际成本
themarginalcostofproduction,includingthecostsofanynegativeexternality,suchasairpollution,bornebyindividualsintheeconomyotherthantheproducer
socialism社会主义
aneconomicsysteminwhichthemeansofproductionarecontrolledbythestate
softbudgetconstraints软预算约束
budgetconstraintsfacingafirminwhichthegovernmentsubsidizesanylosses
staticexpectations静态预期
thebeliefofindividualsthattoday'spricesandwagesarelikelytocontinueintothefuture
stickyprices粘性价格
pricesthatdonotadjustoronlyadjustslowlytowardanewequilibrium
stickywages粘性工资
wagesthatareslowtoadjustinresponsetoachangeinlabormarketconditions
stockstatistics存量统计
measurementsofthequantityofacertainitematacertainpointintime,suchascapitalstock,thetotalvalueofbuildingsandmachines
sunkcost沉没成本
acostthathasbeenincurredandcannotberecovered
supply-constrainedequilibrium供给约束的均衡
theequilibriumthatoccurswhenpricesarestuckatalevelbelowthatatwhichaggregatedemandequalsaggregatesupply;inasupply-constrainedequilibrium,outputisequaltoaggregatesupplybutlessthanaggregatedemand
surpluslabor剩余劳动
agreatdealofunemployedorunderemployedlabor,readilyavailabletopotentialemployers
T
Tariff关税
Ataxongoodsproducedabroadandsolddomestically
Taxincidence税收归宿
Thestudyofwhobearstheburdenoftaxation
Technologicalknowledge技术知识
Society'sunderstandingofthebestwaystoproducegoodsandservices
Theoryofliquiditypreference流动偏好理论
Keynes'theorythattheinterestrateadjuststobringmoneysupplyandmoneydemandintobalance
Totalcost总成本
Theamountafirmpaystobuytheinputsintoproduction
Totalrevenue总收益
Theamountafirmreceivesforthesaleofitsoutput;Theamountpaidbybuyersandreceivedbysellersofagood,computedasthepriceofthegoodtimesthequantitysold
Tradebalance贸易余额
Thevalueofanation'sexportsminusthevalueofitsimports,alsocallednetexports
Tradedeficit贸易赤字
Anexcessofimportsoverexports
Tradepolicy贸易政策
Agovernmentpolicythatdirectlyinfluencesthequantityofgoodsandservicesthatacountryimportsorexports
Tradesurplus贸易盈余
Anexcessofexportsoverimports
TragedyoftheCommons公用地悲剧
Aparablethatillustrateswhycommonresourcesgetusedmorethanisdesirablefromthestandpointofsocietyasawhole
Transactioncosts交易成本
Thecoststhatpartiesincurintheprocessofagreeingandfollowingthroughonabargain
tacitcollusion暗中勾结
collusivebehavioramongthefirmsofanoligpolybasedonanimplicitunderstandingthatitisineachfirm'sbestinterestnottocompetetoovigourously;theytacitlyunderstandthatitisundesirabletoundercuteachothers'prices,butthereisnoopendiscussionaboutpricefixing
takeover收购
whenonemanagementteam(onefirm)takesoverthecontrolofanother
targetsavingsmotive目标储蓄动机
peoplesaveforaparticulartarget,forexampletomakeadownpaymentonahouseortopaycollegetuition
taxexpenditures税收支出
therevenuelostfromataxsubsidy
tax-favoredassets
thereturnontheseassetsreceivesfavorabletaxtreatment,suchastax-exemptmunicipalbonds
taxsubsidies税收补贴
subsidiesprovidedthroughthetaxsystemtoparticularindustriesortoparticularexpenditures,intheformoffavorabletaxtreatment
technologicalrisks技术风险
risksfacingafirmassociatedwithtechnology,suchaswhetheranewtechnologywillworkorbereliable
theorem定理
alogicalpropositionthatfollowsfrombasicdefinitionsandassumptions
theory理论
asetofassumptionsandtheconclusionsderivedfromthoseassumptionsputforwardasanexplanationforsomephenomena
thinmarkets薄弱市场
marketswithrelativelyfewbuyersandsellers
tie-ins搭售
arestrictivepracticeinwhichacustomerwhobuysoneproductmustbuyanother
timeconstraints时间约束
thelimitationsonconsumptionofdifferentgoodsimposedbythefactthathouseholdshaveonlyalimitedamountoftimetospend(twenty-fourhoursaday).Thetimeconstraintdefinestheopportunitysetofindividualsiftheonlyconstraintthattheyfaceistime
timevalueofmoney货币的时间价值
thefactthatadollartodayisworthmorethanadollarinthefutureiscalledthetimevalueofmoney
totalfactorproductivityanalysis总生产要素分析
theanalysisoftherelationshipbetweenoutputandtheaggregateofallinputs;totalfactorproductivitygrowthiscalculatedasthedifferencebetweentherateofgrowthofoutputandtheweightedaveragerateofgrowthofinputs,wheretheweightassociatedwitheachinputisitsshareinGDP
tradecreation贸易创造
newtradethatisgeneratedasaresultofloweredtariffbarriers
tradediversion贸易多样化
tradethatisdivertedawayfromoutsidecountriesasaresultofloweringtariffsbetweenthemembersofatradingbloc
trade-offs交易
theamountofonegood(oronedesirableobjective)thatmustbegivenuptogetmoreofanothergood(ortoattainmoreofanotherdesirableobjective)
tradesecret商业秘密
aninnovationorknowledgeofaproductionprocessthatafirmdoesnotdisclosetoothers
tradingblocs商业集团
groupsofcountriesthatagreetolowertradeandothereconomicbarriersamongthemselves
traditionalmonetarytheory传统货币理论
thetheory(firstdevelopedbyJohnMaynardKeynes,andthereforesometimesreferredtoasKeynesianmonetarytheory)thatthenominalinterestrateistheopportunitycostofholdingmoney,thatthedemandformoneydecreasesastheinterestraterises,andthattheinterestrateisdeterminedtoequatethedemandandsupplyofmoney
transactionsdemandformoney货币的交易需求
thedemandformoneyarisingfromitsuseinbuyinggoodsandservices
transferprograms转移支付计划
programsdirectlyconcernedwithredistribution,suchasAFDCandMedicaid,thatmovemoneyfromonegroupinsocietytoanother
transplants移植
plantsconstructedinonecountrybyfirmsbasedinanother.U.S.factoriesproducingMazdasandToyotasareJapanesetransplants
Treasurybills(T-bills)短期国库券
billsthegovernmentsellsinreturnforapromisetopayacertainamountinashortperiod,usuallylessthan180days
trough波谷
thebottomofarecession
trusts信托公司
organizationsthatattemptedtocontrolcertainmarketsinthelatenineteenthcentury;theyweredesignedtoallowanindividualorgroupowningasmallfractionofthetotalindustrytoexercisecontrol
two-tierwagesystem双重工资系统
wagesystemsinwhichnewlyhiredworkersarepaidlowerwagesthanestablishedworkersarepaid
U
Unemploymentinsurance失业保险
Agovernmentprogramthatpartiallyprotectsworkers'incomeswhentheybecomeunemployed
Unemploymentrate失业率
Thepercentageofthelaborforcethatisnotemployed
Union工会
Aworkerassociationthatbargainswithemployersoverwagesandworkingconditions
Unitofaccount计价单位
Theyardstickwithwhichpeoplepostpricesandrecorddebts
Utilitarianism功利主义
Thepoliticalphilosophyaccordingtowhichthegovernmentshouldchoosepoliciestomaximizethetotalutilityofeveryoneinsociety
Utility效用
Ameasureofhappinessorsatisfaction
unionshops工会化企业
unionizedfirmsinwhichallworkersarerequiredtojointheunionasaconditionofemployment
utilitypossibilitiescurve效用可能性曲线
acurveshowingthemaximumlevelofutilitythatoneindividualcanattain,giventhelevelofutilityattainedbyothers
V
Valueofthemarginalproduct边际产量价值
Themarginalproductofaninputtimesthepriceoftheoutput
Variablecosts可变成本
Costthatdovarywiththequantityofoutputproduced
Velocityofmoney货币流通速度
Therateatwhichmoneychangeshands
Verticalequity纵向公平
Theideathattaxpayerswithagreaterabilitytopaytaxesshouldpaylargeramounts
variableinputs可变投入
inputsthatriseorfallwiththequantityofoutput
velocity流通速度
thespeedwithwhichmoneycirculatesintheeconomy,definedastheratioofincometothemoneysupply
verticalmerger纵向兼并
amergerbetweentwofirms,oneofwhichisasupplierordistributorfortheother
voluntaryunemployment自愿失业
asituationinwhichworkersvoluntarilydropoutofthelaborforcewhenthewagelevelfalls
votingparadox投票悖论
thefactthatundersomecircumstancestheremaybenodeterminateoutcomewithmajorityvoting:choiceAwinsamajorityoverB,BwinsoverC,andCwinsoverA
W
Welfareeconomics福利经济学
Thestudyofhowtheallocationofresourcesaffectseconomicwell-being
Willingnesstopay支付意愿
Themaximumamountthatabuyerwillpayforagood
Worldprice世界价格
Thepriceofagoodthatprevailsintheworldmarketforthatgood
wagediscrimination工资歧视
payinglowerwagestowomenorminorities
wage-productivitycurve工资—生产率曲线
thecurvethatdepictstherelationshipbetweenwagesandproductivity
wholesalepriceindex批发价格指数
apriceindexthatmeasurestheaveragelevelofwholesaleprices
worksharing工作分摊
reducingallemployees'hoursbyequalamountsratherthanfiringsomeworkers
WorldTradeOrganization(WTO)世界贸易组织
theorganizationestablishedin1995,asaresultoftheUruguayroundoftradenegotiations,replacingGATT,designedtoremovetradebarriersandsettletradedisputes
Z
zeroelasticity零弹性
ademand(orsupply)curvehaszeroelasticityifthequantitydemanded(orsupplied)doesnotchangeatallifpricechanges;thedemand(supply)curveisvertical