butterball经济学名词解释(英文)

2021年1月19日发(作者：agree的过去式)
Accounting profit
会计利润
: Total revenue minus total explicit cost
Ability-to-pay principle
能力支付原则
: The idea that taxes should be levied
on a person according to how well that person can shoulder the burden
Absolute advantage
绝对优势
: The comparison among producers of a good
according to their productivity
Adverse
selection
逆向选择
:
The
tendency
for
the
mix
of
unobserved
attributes
to
become
undesirable
from
the
standpoint
of
an
uninformed
party
Agent
代理人
: A person who is performing an act for another person, called
the principal
Aggregate- demand
curve:
a
curve
that
shows
the
quantity
of
goods
and
services
that
households,
firms,
and
the
government
want
to
buy
at
each
price level
Aggregate risk: risk that affects all economic actors at once
Aggregate-supply
curve:
a
curve
that
shows
the
quantity
of
goods
and
services that firms choose to produce and sell at each price level
Appreciation:
an
increase
in
the
value
of
a
currency
as
measured
by
the
amount of foreign currency it can buy
Arrow
’
s
impossibility
theorem
阿罗不可能定理
:
A
mathematical
result
showing
that,
under
certain
assumed
conditions,
there
is
no
scheme
for
aggregating individual preferences into a valid set of social preferences
Average
fixed
cost
平均固定成本
:
Fixed
costs
divided
by
the
quantity
of
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output
Average revenue
平均收益
: Total revenue divided by the quantity sold
Average tax rate
平均税率
: Total taxes paid divided by total income
Average total cost
平均总成本
: Total cost divided by the quantity of output
Average variable cost
平均可变成本
: Variable costs divided by the quantity
of output
Automatic
stabilizers:
changes
in
fiscal
policy
that
stimulate
aggregate
demand
when
the
economy
goes
into
a
recession
without
policymakers
having to take any deliberate action
Balance trade: a situation in which exports equal imports
Benefits principle
受益原则
: The idea that people should pay taxes based on
the benefits they receive from government services
Bond: a certificate of indebtedness
Budget
constraint
预算约束
:
The
limit
on
the
consumption
bundles
that
a
consumer can afford
Budget
deficit
预
算
赤
字
:
An
excess
of
government
spending
over
government receipts
Budget
surplus
预
算
盈
余
:
An
excess
of
government
receipts
over
government spending
Business
cycle
经
济
周
期
:
Fluctuations
in
economic
activity,
such
as
employment and production
Capital
资产
:
The
equipment
and
structures
used
to
produce
goods
and
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services
Capital flight: a large and sudden reduction in the demand for assets located
in a country
Cartel
卡特尔
: A group of firms acting in unison
Catch-up effect: the property whereby countries that start off poor tend to
grow more rapidly that countries that start off rich
Central
bank:
an
institution
designed
to
oversee
the
banking
system
and
regulate the quantity of money in the economy
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
Closed economy: an economy that does not interact with other economies
in the world
Collective
bargaining:
the
process
by
which
unions
and
firms
agree
on
the
terms of employment
Commodity money: money that takes the form of a commodity with intrinsic
value
Coase theorem
科斯定理
: The proposition that if private parties can bargain
without cost over the allocation of resources, they can solve the problem of
externalities on their own
Collusion
共谋
: An agreement among firms in a market about quantities to
produce or prices to charge
Common resources
共同资源
: Goods that are rival but not excludable
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Comparative
advantage
比较优势
:
The
comparison
among
producers
of
a
good according to their opportunity cost
Compensating
differential
补偿性工资差别
:
A
difference
in
wages
that
arises to offset the nonmonetary characteristics of different jobs
Competitive
market
竞争性市场
:
A
market
with
many
buyers
and
sellers
trading identical products so that each buyer and seller is a price taker
Complements
互补性商品
: Two goods for which an increase in the price of
one leads to a decrease in the demand for the other
Condorcet
paradox:
the
failure
of
majority
rule
to
produce
transitive
preferences for society
Compounding: the accumulation of a sum of money in, say, a bank account,
where the interest earned remains in the account to earn additional interest
in the future
Constant
returns
to
scale
规模报酬不变
:
The
property
whereby
long-run
average total cost stays the same as the quantity of output
Consumer price index (CPI): a measure of the overall cost of the goods and
services bought by a typical consumer
Consumer
surplus
消费者剩余
:
A
buyer
’
s
willingness
to
pay
minus
the
amount the buyer actually pays
Consumption:
spending
by
households
on
goods
and
services,
with
the
exception of purchases of new housing
Cost
成本
: The value of everything a seller must give up producing a good
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Cost- benefit
analysis
成本收益分析
:
A
study
that
compares
the
costs
and
benefits to society of providing a public good
Crowding
out:
a
decrease
in
investment
that
results
from
government
borrowing
Crowding-out
effect:
the
offset
in
aggregate
demand
that
results
when
expansionary
fiscal
policy
raise
the
interest
rate
and
thereby
reduces
investment spending
Cross-price
elasticity
of
demand
需求的交叉价格弹性
:
A
measure
of
how
much the quantity demanded of one good responds to a change in the price
of another good, computed as the percentage change in quantity demanded
of the first good divided by the percentage change in the price of the second
good
Currency: the paper bills and coins in the hands of the public
Cyclical
unemployment:
the
deviation
of
unemployment
from
a
market
distortion, such as a tax
Deadweight
loss
无谓损失
:
The
fall
in
total
surplus
that
results
from
a
market distortion, such as a tax
Demand curve
需求曲线
: A graph of the relationship between the price of a
good and the quantity demanded
Demand deposits: balances in bank accounts that depositors can access on
demand by writing a check
Demand schedule
需求表
: A table that shows the relationship between the
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price of a good and the quantity demanded
Depreciation:
a
decrease
in
the
value
of
a
currency
as
measured
by
the
amount of foreigh currency it can buy
Depression: a severe recession
Diminishing
marginal
product
边际产品递减
:
The
property
whereby
the
marginal product of an input declines as the quantity of the input increases
Discrimination
歧视
:
The
offering
of
different
opportunities
to
similar
individuals who differ only by race, ethnic group, sex, age, or other personal
characteristics
Diseconomies of scale
规模不经济
: The property whereby long-run average
total cost rises as the quantity of output increases
Discount rate: the interest rate on the loans that the Fed makes to banks
Discouraged workers: individuals who would like to work but have given up
looking for job
Diversification: the reduction of risk achieved by replacing a single risk with a
large number of smaller unrelated risks
Dominant strategy
占优策略
: A strategy that is best for a player in a game
regardless of the strategies chosen by the other players

Economic
profit
经济利润
:
Total
revenue
minus
total
cost,
including
both
explicit and implicit costs
Economics
经济学
: The study of how society manages its scarce resources
Economies of scale
规模经济
: The property whereby long- run average total
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cost falls as the quantity of output increases
Efficiency
效率
:
The
property
of
society
getting
the
most
it
can
from
its
scarce resources
Efficiency wages
效率工资
: Above- equilibrium wages paid by firms in order
to increase worker productivity
Efficient scale: the quantity of output that minimizes average total cost
Elasticity:
a
measure
of
the
responsiveness
of
quantity
demanded
or
quantity supplied to one of its determinants
Equilibrium:
a
situation
in
which
the
price
has
reached
the
level
where
quantity supplied equals quantity demanded
Equilibrium
price:
the
price
that
balances
quantity
supplied
and
quantity
demanded
Equilibrium
quantity:
the
quantity
supplied
and
the
quantity
demanded
at
the equilibrium price
Equity:
the
property
of
distributing
economic
prosperity
fairly
among
the
members of society
Excludability:
the
property
of
a
good
whereby
a
person
can
be
prevented
from using it
Explicit costs: input costs that require an outlay of money by the firm
Export: goods produced domestically and sold abroad
Externality:
the
uncompensated
impact
of
one
person
’
s
actions
on
the
wellbeing of a bystander
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Factors of production: the inputs used to produce goods and services
Federal reserve (Fed) : the central bank of the united states
Fiat money: money without intrinsic value that is used as money because of
government decree
Finance:
the
field
that
studies
how
people
make
decisions
regarding
the
allocation of resources over time and the handling of risk
Financial
intermediaries:
financial
institutions
through
which
savers
can
indirectly provide funds to borrowers
Financial
markets:
financial
institutions
through
which
savers
can
directly
provide funds to borrowers
Financial
system:
the
group
of
institutions
in
the
economy
that
help
to
match one person
’
s saving with another person
’
s investment
Fisher effect: the one-for-one adjustment of the nominal interest rate to the
inflation rate
Fractional- reserve
banking:
a
banking
system
in
which
banks
hold
only
a
fraction of deposits as reserves
Frictional unemployment: unemployment that results because it takes time
for workers to search for the jobs that best suit their tastes and skills
Fundamental analysis: the study of a company
’
s accounting statements and
future prospects to determine its value
Future value: the amount of money in the future that an amount of money
today will yield, given prevailing interest rates
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Fixed costs: costs that do not vary with the quantity of output produced
Free rider: a person who receives the benefit of a good but avoids paying for
it
Game theory: the study of how people behave in strategic situations
GDP deflator: a measure of the price level calculated as the ratio of nominal
GDP to real GDP times 100
Government
purchases:

spending
on
goods
and
services
by
local,
state,
and federal governments
Gross domestic product GDP: the market value of all final goods and services
produced within a country in a given period of time
Horizontal equity: the idea that taxpayers with similar abilities to pay taxes
should pay the same amount
Human capital: the accumulation of investment in people, such as education
and on-the-job training
Idiosyncratic risk: risk that affects only a single economic actor
Implicit costs: input costs that do not require an outlay of money by the firm
Import quota: a limit on the quantity of a good that can be produced abroad
and sold domestically
Imports: goods produced abroad and sold domestically
Income effect: the change in consumption that results when a price change
moves the consumer to a higher or lower indifference curve
Income
elasticity
of
demand:
a
measure
of
how
much
the
quantity
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demanded of a good responds to a change in consumers
’
income, computed
as the percentage change in quantity demanded divided by the percentage
change in income
Indexation:
the
automatic
correction
of
a
dollar
amount
for
the
effects
of
inflation by law or contract
Indifference
curve:
a
curve
that
shows
consumption
bundles
that
give
the
consumer the same level of satisfaction
Inferior good: a good for which, other things equal, an increase in income
leads to a decrease in demand
Inflation: an increase in the overall level of prices in the economy
Inflation rate: the percentage change in the price index from the preceding
period
Inflation tax: the revenue the government raises by creating money
Informationally efficient: reflecting all available information in a rational way
In- kind
transfers:
transfers
to
the
poor
given
in
the
form
of
goods
and
services rather than cash
Internalizing an externality: altering incentives so that people take account
of the external effects of their actions
Investment:
spending
on
capital
equipment,
inventories,
and
structures,
including household purchases of new housing
Job search: the process by which workers find appropriate jobs given their
tastes and skills
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labor force: the total number of workers, including both the employed and
the unemployed
Labor-force participation rate: the percentage of the adult population that is
in the labor force
Law of demand: the claim that, other things equal, the quantity demanded
of a good falls when the price of the good rises
Law of supply: the claim that, other things equal, the quantity supplied of a
good rises when the price of the good rises
Law of supply and demand: the claim that the price of any good adjusts to
bring the quantity supplied and the quantity demanded for that good into
balance
Liberalism:
the
political
philosophy
according
to
which
the
government
should
choose
policies
deemed
to
be
just,
as
evaluated
by
an
impartial
observe behind a
“
veil of ignorance
”

Libertarianism: the political philosophy according to which the government
should punish crimes and enforce voluntary agreements but not redistribute
income
Life cycle: the regular pattern of income variation over a person
’
s life
Liquidity: the ease with which an asset can be converted into the economy
’
s
medium of exchange
Lump-sum tax: a tax that is the same amount for every person
Macroeconomics:
the
study
of
economy-wide
phenomena,
including
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