传神翻译mba专业术语汇总

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