MBA專業(yè)英語(yǔ)術(shù)語(yǔ)匯總(doc 42頁(yè)).doc

MBA專業(yè)術(shù)語(yǔ)匯總AAbility-to-pay principle 能力納稅原則The idea that taxes should be levied on a person according to how well that person can shoulder the burden Absolute advantage 絕對(duì)優(yōu)勢(shì)The comparison among producers of a good according to their productivity Aggregate-demand curve 總需求曲線A curve that shows the quantity of goods and services that households, firms, and the government want to buy at any price levelAggregate-supply curve 總供給曲線A curve that shows the quantity of goods and services that firms choose to produce and sell at any level Appreciation 升值A(chǔ)n increase in the value of a currency as measured by the amount of foreign currency it can buy Automatic stabilizers 自動(dòng)穩(wěn)定器Changes in fiscal policy that stimulate aggregate demand when the economy goes into a recession without policymakers having to take any deliberate action Average fixed cost 平均固定成本Fixed costs divided by the quantity of output Average revenue 平均收益Total revenue divided by the quantity sold Average tax rate 平均稅率Total taxes paid divided by total income Average total cost 平均總成本Total cost divided by the quantity of output Average variable cost 平均可變成本Variables costs divided by the quantity of output Accelerator 加速數(shù)the effect on GDP of the increase in investment that results from an increase in output. For instance, the greater output leads a firm to believe that the demand for its products will rise in the future; the resulting increase in investment leads to growth in output and still further increases in investment, accelerating the expansion of the economy Acquired endowments 后天稟賦 resources a country builds for itself, like a network of roads or an educated population Adaptive expectations 適應(yīng)性預(yù)期expectations based on the extrapolation of events in the recent past into the future aggregate expenditures schedule 總支出曲線a curve that traces out the relationship between expenditures-the sum of consumption, investment, government expenditures, and net exports-and the national income, at a fixed price level antitrust laws 反托拉斯法laws that discourage monopoly and restrictive practices and encourage greater competition arbitrage 套利the process by which assets with comparable risk, liquidity, and tax treatment are priced to yield comparable expected returns adverse selection 逆向選擇principle that says that those who most want to buy insurance tend to be those most at risk, but charging a high price for insurance (to cover the high risk)will discourage those at less risk from buying insurance at all asset 資產(chǎn)any item that is long-lived, purchased for the service it renders over its life and for what one will receive when one sells it assistance in kind 實(shí)物援助public assistance that provides particular goods and services, like food or medical care, rather than cash asymmetric information 信息不對(duì)稱a situation in which the parties to a transaction have different information, as when the seller or a used car has more information about its quality then the buyer autonomous consumption 自主消費(fèi)that part of consumption that does not depend on income average costs 平均成本the total costs divided by the total output average productivity 平均產(chǎn)量total quantity divided by the total quantity of input B Benefits principle 受益原則 The idea that people should pay taxes based on the benefits they receive from government services Bond 債券 A certificate of indebtedness Budget constraint 預(yù)算約束 The limit on the consumption bundles that a consumer can afford Budget deficit 預(yù)算赤字 An excess of government spending over government receipts Budget surplus 預(yù)算盈余 An excess of government receipts over government spendin barriers to entry 進(jìn)入障礙 factors that prevent firms from entering a market, such as government rules or patents basic competitive model 基本競(jìng)爭(zhēng)模型 the model of the economy that pulls together the assumptions of self-interested consumers, profit maximizing firms, and perfectly competitive markets bequest savings motive 儲(chǔ)蓄的遺產(chǎn)動(dòng)機(jī) people save so that they can leave an inheritance to their children Bertrand competition 伯特蘭競(jìng)爭(zhēng) 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 offering lower prices bilateral trade 雙邊貿(mào)易 trade between two parties boom 繁榮 a period of time when resources are being fully used and GDP is growing steadily CCapital 資本The equipment and structures used to produce goods and services Capital flight 資本外流A large and sudden reduction in the demand for assets located in a country Cartel 卡特爾A group of firms acting in unison Catch-up effect 追趕效應(yīng)The property that countries that start off poor tend to grow more rapidly than countries that start off rich Central bank 中央銀行An institution designed to oversee the banking system and regulate the quantity of money in the economy Ceteris paribus 其它條件相同A Latin phrase, translated as other things being equal, used as a reminder that all variables other than the ones being studied are assumed to be constant Circular-flow diagram 循環(huán)流向圖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 封閉經(jīng)濟(jì)An economy that does not interact with other economies in the world 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 Collective bargaining 集體談判The process by which unions and firms agree on the terms of employment Collusion 勾結(jié)An agreement among firms in a market about quantities to produce or prices to charge Commodity money 商品貨幣Money that takes the form of a commodity with intrinsic value Common resources 共有資源Goods that are rival but not excludable Comparable worth 同工同酬A doctrine according to which jobs deemed comparable should be paid the same wage Comparative advantage 比較優(yōu)勢(shì)The comparison among producers of a good according to their opportunity cost Compensating wage differential 補(bǔ)償性工資差別A difference in wages that arises to offset the nonmonetary characteristics of different jobs Competitive market 競(jìng)爭(zhēng)市場(chǎng)A market with many buyers and sellers trading identical products so that each buyer and seller is a price taker Complements 互補(bǔ)品Two goods for which an increase in the price of one good leads to a decrease in the demand for the other good Constant returns to scale 規(guī)模收益不變The property that long-run average total cost stays the same as the quantity of output changes Consumer price index 消費(fèi)物價(jià)指數(shù)A measure of the overall cost of the goods and services bought by a typical consumer Consumer surplus 消費(fèi)者剩余A buyers willingness to pay minus the amount the buyer actually pays Consumption 消費(fèi)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 to produce a good 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 effect 擠出效應(yīng)The offset in aggregate demand that results when expansionary fiscal policy raises the interest rate and thereby reduces investment spending Currency 通貨The paper bills and coins in the hands of the public Cyclical unemployment 周期性失業(yè)The deviation of unemployment from its natural rate capital gain 資本增值the increase in the value of an asset between the time it is purchased and the time it is sold capital market 資本市場(chǎng)the market in which savings are made available to investors categorical assistance 分類幫助public assistance aimed at a particular category of people, like the elderly or the disabled causation 因果關(guān)系relationship that results when an change in one variable is not only correlated with but actually causes the change in another one central planning 中央計(jì)劃the system in which central government bureaucrats (as opposed to private entrepreneurs or even local government bureaucrats) determine what will be produced an how it will be produced centralization 集權(quán)organizational structure in which decision making is concentrated at the top centrally planned economy 中央計(jì)劃經(jīng)濟(jì)an economy in which most decisions about resource allocation are made by the central government certificate of deposit (CD) 存單account in which money is deposited for a preset length of time, that must yield a slightly higher return to compensate for the reduced liquidity circular flow 循環(huán)流程how funds move through the capital, labor, and product markets between households, firms, the government, and the foreign sector classical economists 古典經(jīng)濟(jì)學(xué)家economists prevalent before the Great Depression who believed that the basic competitive model provided a good description of the economy and that if short periods of unemployment did occur, market forces would quickly restore the economy to full employment classical unemployment 古典失業(yè)unemployment that results from too-high real wages; it occurs in the supply constrained equilibrium, so that rightwards shifts in aggregate supply reduce the level of unemployment competitive equilibrium price 競(jìng)爭(zhēng)性均衡價(jià)格the price at which the quantity supplied and the quantity demanded are equal to each otherconsumer protection legislation 消費(fèi)者保護(hù)法laws aimed at protecting consumers, for instance by assuring that consumers have more complete information about items they are considering buying consumer sovereignty 消費(fèi)者權(quán)益the principle that holds that each individual is the best judge of what makes him better off consumption function 消費(fèi)函數(shù)the relationship between disposable income and consumption contingency clauses 應(yīng)變條款statements within a contract that make the level of payment or the work to be performed conditional upon various factors corporate income tax 公司所得稅a tax based on the income, or profit, received by a corporation correlation 相關(guān)relationship that results when a change in one variable is consistently associated with a change in another one cost-push inflation 成本推動(dòng)型通貨膨脹inflation whose initial cause is a rise in production costs Cournot competition 古諾競(jìng)爭(zhēng)an oligopoly in which each firm believes that its rivals are committed to a certain level of production and that rivals will reduce their prices as needed to sell that amount credentials competition 文憑競(jìng)爭(zhēng)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 credentials credit constraint effect 信貸約束效應(yīng)when prices fall, firms revenues also fall, but the money they owe creditors remains unchanged; as a result, firms have fewer funds of their own to invest. Because of credit rationing, firms cannot make up the difference; accordingly, investment decreases credit rationing 信貸配給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 than other borrowers of comparable risk who are getting loans cross subsidization 交叉補(bǔ)貼the practice of charging higher prices to one group of consumers in order to subsidize lower prices for another group DDeadweight loss 無(wú)謂損失The reduction in total surplus that results from a tax Demand curve 需求曲線A graph of the relationship between the price of a good and the quantity demanded Demand deposits 活期存款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 price of a good and the quantity demanded Depreciation 貶值A(chǔ) decrease in the value of a currency as measured by the amount of foreign currency it can buy Depression 蕭條A severe recession Diminishing marginal product 邊際產(chǎn)量遞減The property whereby the marginal product of an input declines as the quantity of the input increases The property that the marginal product of an input declines as the quantity of the input increases Diminishing returns 收益遞減The property that the benefit from an extra unit of an input declines as the quantity of the input increases Discount rate 貼現(xiàn)率The interest rate on the loans that the Fed makes to banks Discouraged workers 喪失信心的工人Individuals who would like to work but have given up looking for a job Discrimination 歧視The offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics Diseconomies of scale 規(guī)模不經(jīng)濟(jì)The property that long-run average total cost rises as the quantity of output increases Dominant strategy 優(yōu)勢(shì)戰(zhàn)略A strategy that is best for a player in a game regardless of the strategies chosen by the other players debt 債務(wù)capital, such as bonds and bank loans, supplied to a firm by lenders; the firm promises to repay the amount borrowed with interest decentralization 分權(quán)化organizational structure in which many individuals or subunits can make decisions decision tree 決策樹(shù)a device for structured decision making that spells out the choices and possible consequences of alternative actions deficit spending 赤字支出the situation that exists when government expenditures are greater than revenues deflation 通貨緊縮a persistent decrease in the general level of prices demand-constrained equilibrium 受需求約束的平衡the equilibrium that occurs when prices are stuck at a level above that at which aggregate demand equals aggregate supply at the current price level demand-pull inflation 需求拉動(dòng)型通貨膨脹inflation whose initial cause is aggregate demand exceeding aggregate supply at the current price level demographic effects 人口效應(yīng)effects that arise from changes in characteristics of the population such as age, birthrates, and location deregulation 放松管制the lifting of government regulations to allow the market to function more freely devaluation 貶值a reduction in the rate of exchange between one currency and other currencies under a fixed exchange rate system developed countries 發(fā)達(dá)國(guó)家或工業(yè)化國(guó)家the wealthiest nations in the world, including Western Europe, the United States, Canada, Japan, Australia, and New Zealand diminishing marginal utility 邊際效用遞減the principle that says that as an individual consumes more and more of a good, each successive unit increases her utility, or enjoyment, less and less dividends 股息that portion of corporate profits paid out to shareholders downward rigidity of wages 工資下降剛性the situation that exists when wages do not fall quickly in response to a shift in the demand or supply curve for labor, resulting in an excess supply of labor dual economy 二元經(jīng)濟(jì)the separation in many LDCs between an impoverished rural sector and an urban sector that has higher wages and more advanced technology duopoly 雙頭壟斷an industry with only two firms durable goods 耐用品goods that provide a service over a number of years, such as cars, major appliances, and furniture dynamic consistency 動(dòng)態(tài)一致性a policy is said to have dynamic consistency when government announces a course of action and then has the incentives to actually carry out that policyEEconomics 經(jīng)濟(jì)學(xué)The study of how society manages its scarce resources Economies of scale 規(guī)模經(jīng)濟(jì)The property that long-run average total cost falls as the quantity of output increases Efficiency 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 Efficiency wages 效率工資Above-equilibrium wages paid by firms in order to increase worker productivity Efficient scale 有效規(guī)模The quantity of output that minimizes average total cost Elasticity 彈性A measure of the responsiveness of quantity demanded or quantity supplied to one of its determinants Equilibrium 均衡A situation in which supply and demand have been brought into balance Equilibrium price 均衡價(jià)格The price that balances supply and demand Equilibrium quantity 均衡數(shù)量The quantity supplied and the quantity demanded when the price has adjusted to balance supply and demand Equity 平等The fairness of the distribution of well-being among the various buyers and sellers; The property of distributing economic prosperity fairly among the members of society Excess demand 超額需求A situation in which quantity demanded is greater than quantity supplied Excess supply 超額供給A situation in which quantity supplied is greater than quantity demanded Excludability 排他性The property of a good that a person can be prevented 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 persons actions on the well-being of a bystandereconomic rents 經(jīng)濟(jì)租金payments made to a factor that are in excess of what is required to elicit the supply of that factor efficiency wage theory 效率工資理論the theory that paying higher wages (up to a point) lowers total production costs, for instance by leading to a more productive labor force economies of scope 范圍經(jīng)濟(jì)what exists when it is less expensive to produce two products together than it would be to produce each one separately efficient markets theory 有效市場(chǎng)理論the theory that all available information is reflected in the current price of an asset elasticity of labor supply 勞動(dòng)供給彈性the percentage change i