经济学英文术语解释重点.docx

经济学英文术语解释重点.docx

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经济学英文术语解释重点

absoluteadvantage

anadvantagederivedfromonecountryhavingalowerabsoluteinputcostofproducingaparticulargoodthananothercountry（35

accountingmeasureofcosts

thedirectcoststhatcanbemeasured（23

accountingprofit

totalrevenuelesstotalcostsexceptfortheopportunitycostifcapital（23

adaptiveexpectation

anexpectationformedonthebasisofinformationcollectedinthepast（15

addingvalue

creatingoutputthatismorevaluablethantheresourcesusedtocreatetheoutput（23

adverseselection

thesituationthatoccurswhenhigher-qualityconsumersorproducersaredrivenoutofthemarketbecauseunobservablequalitiesaremisvalued（26

age-earningsprofile

therelationshipbetweenaworker'searningsandage（29

age-productivityprofile

therelationshipbetweenaworker'sproductivityandage（29

aggregatedemandcurve

acurvethatshowsthedifferentequilibriumlevelsofexpendituresatdifferentpricelevels（9

aggregatesupplycurve

acurvethatshowstheamountofproductionatdifferentpricelevels（9

annualreturn

thedividendplusthecapitalgainperyear（31

antitrustpolicy

governmentpoliciesandprogramsdesignedtocontrolthegrowthofmonopolyandenhancecompetition（27

antitrustpolicy

findingapplicationsforbasicresearchresults（31

appreciate

toincreasethevalueofacurrencyunderfloatingexchangerates--thatis,exchangeratesdeterminedbysupplyanddemand（37

arbitrage

buyinginamarketwherethepriceislowandsellinginamarketwherethepriceishightoprofitfromthepricedifferential（17

arcelasticity

thepriceelasticityofdemandmeasuredoverapricerangeusingthemidpoint,oraverage,asthebase（20

associationascausation

themistakenassumptionthatbecausetwoeventsseemtooccurtogether,onecausestheother（1

assumptions

statementsthataretakenforgrantedwithoutjustification（1

automaticstabilizer

anelementoffiscalpolicythatchangesautomaticallyasincomechanges（12

autonomousconsumption

consumptionthatisindependentofincome（10

averagefixedcost（AFC

totalfixedcostsdividedbythequantityproduced（22

averagephysicalproduct（APP

outputperunitofresource（22

averagepropensitytoconsume（APC

theproportionofdisposableincomespentforconsumption（10

averagepropensitytosave（APS

theproportionofdisposableincomesaved（10

averagetotalcost（ATC

totalcostsdividedbythetotaloutput（22

averagevariablecost（AVC

totalvariablecostsdividedbythequantityproduced（22

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backward-bendinglaborsupplycurve

alaborsupplycurveindicatingthatapersoniswillingandabletoworkmorehoursasthewagerateincreasesuntil,atsomesufficientlyhighwagerate,thepersonchoosestoworkfewerhours（29

balanceofpayments

arecordofacountry'stradeingoods,services,andfinancialassetswiththerestoftheworld（7

balanceoftrade

thebalanceonthemerchandiseaccountintheU.S.balanceofpayments（7

balanced-budgetmultiplier

ameasureofhowmuchequilibriumincomechangesifgovernmentspendingandtaxesbothincreaseordecreasebythesameamount（12App.

barriertoentry

anythingthatimpedestheabilityoffirmstobeginanewbusinessinanindustryinwhichexistingfirmsareearningpositiveeconomicprofits（25

barter

thedirectexchangeofgoodsandserviceswithouttheuseofmoney（3

baseyear

theyearagainstwhichotheryearsaremeasured（6

basicresearch

creationofnewknowledge（31

bilateralaid

foreignaidthatflowsfromonecountrytoanother（19

bilateralmonopoly

amarketinwhichamonopsonisticbuyerofresourcesfacesamonopolysellerofresources（30

break-evenanalysis

determiningthequantityofunitsthatmustbesoldtojustcovercosts（27

break-evenprice

thepricethatisequaltotheminimumpointoftheaveragetotal-costcurve（24

budgetdeficit

theshortagethatresultswhengovernmentspendingisgreaterthanrevenue（5

budgetline

alineshowingallthecombinationsofgoodsthatcanbepurchasedwithagivenlevelofincome（21App.

budgetsurplus

theexcessthatresultswhengovernmentspendingislessthanrevenue（5

businesscycle

therecurrentpatternofrisingrealGDPfollowedbyfallingrealGDP（5,8

businessfirm

abusinessorganizationcontrolledbyasinglemanagement（4

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CoaseTheorem

whenbargainingiscostlessandpropertyrightscanbeassignedwithoutdifficulty,theamountofanexternality-generatingactivitywillnotdependonwhoisassignedthepropertyrights（32

capital

productssuchasmachineryandequipmentthatareusedinproduction（1

capitalaccount

therecordinthebalanceofpaymentsoftheflowoffinancialassetsintoandoutofacountry（7

capitalconsumptionallowance

theestimatedvalueofdepreciationplusthevalueofaccidentaldamagetocapitalstock（6

capitalcontrol

agovernment-imposedrestrictiononthefreemovementoffinancialassetsbetweennations（17

capitalgain

anincreaseinthepriceoffinancialcapital（31

capitalism

aneconomicsystemcharacterizedbyprivateownershipofmostresourcesandtheuseofmarketstoallocategoodsandservices（40

capitalizedvalue

thepresentvalueofanexpectedfutureincomestream（32

capturetheory

governmentactionsbenefitsomespecial-interestgroupthathascapturedcontrolofregulations,legislation,orgoverningauthority（27

cartel

anorganizationofindependentfirmswhosepurposeistocontrolandlimitproductionandmaintainorincreasepricesandprofits（26

cashtransfers

moneyallocatedawayfromonegroupinsocietytoanother（34

centrallyplannedeconomy

aneconomicsysteminwhichthegovernmentdetermineswhatgoodsandservicesareproducedandthepricesatwhichtheyaresold（5

ceterisparibus

otherthingsbeingequal,oreverythingelseheldconstant（1

chain-typerealGDPgrowth

thegeometricmeanofthegrowthratesfoundusingbeginningandendingyearprices（6

circularflowdiagram

amodelshowingtheflowofoutputandincomefromonesectoroftheeconomytoanother（4

classicaleconomics

aschoolofthoughtthatassumesthatrealnationalincomeisdeterminedbyaggregatesupply,whiletheequilibriumpricelevelisdeterminedbyaggregatedemand（16

closedshop

aworkplaceinwhichunionmembershipisaconditionofemployment（30

coincidentindicator

avariablethatchangesatthesametimethatrealoutputchanges（8

collectivebargaining

theprocessbywhichunionandmanagementnegotiatelaborcontracts（30

commercialbankloan

abankloanatmarketratesofinterest,ofteninvolvingabanksyndicate

（19

commercialpolicy

governmentpolicythatinfluencesinternationaltradeflows（36

comparableworth

theideathatpayoughttobedeterminedbyjobcharacteristicsratherthanbysupplyanddemandandthatjobswithcomparablerequirementsshouldreceivecomparablewages（30

comparativeadvantage

theabilitytoproduceagoodorserviceataloweropportunitycostthansomeoneelse（2,35

compensatingwagedifferentials

wagedifferencesthatmakeupforthehigherriskorpoorerworkingconditionsofonejoboveranother（29

complementarygoods

goodsthatareusedtogether（asthepriceofonerises,thedemandfortheotherfalls（3

compositecurrency

anartificialunitofaccountthatisanaverageofthevaluesofseveralnationalcurrencies（13

concentration

thedegreetowhichafewfirmscontroltheoutputandpricingdecisionsinamarket（27

constantreturnstoscale

unitcostsremainconstantasthequantityofproductionisincreasedandallresourcesarevariable（22

constant-costindustry

anindustrythatcanexpandorcontractwithoutaffectingthepricesoftheresourcesitpurchases（24

consumerequilibrium

thepointatwhichthemarginalutilitiesperdollarofexpenditureonthelastunitofeachgoodpurchasedareequal（21

consumerpriceindex（CPI

ameasureoftheaveragepriceofgoodsandservicespurchasedbythetypicalhousehold（6

consumersovereignty

thesupremeauthorityofconsumerstodetermine,bymeansoftheirpurchases,whatisproduced（4

consumersurplus

thedifferencebetweenwhattheconsumeriswillingtopayforaunitofagoodandthepricethattheconsumeractuallyhastopay（21

consumption

householdspending（4

consumptionfunction

therelationshipbetweendisposableincomeandconsumption（10

contractingout

hiringaprivatefirmtoprovideaproductorserviceforagovernmententity（27

corecompetency

theprimarybusinessafirmisinvolvedin（27

corporation

alegalentityownedbyshareholderswhoseliabilityforthefirm'slossesislimitedtothevalueofthestocktheyown（4

costoflivingadjustment（COLA

anincreaseinwagesthatisdesignedtomatchincreasesinpricesofitemspurchasedbythetypicalhousehold（6

cost-pluspricing/markuppricing

apricingpolicywherebyafirmcomputesitsaveragecostofproducingaproductandthensetsthepriceatsomepercentageabovethiscost（26

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