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英语中宏观经济常用词汇以及实际应用1. Gross Domestic Product (GDP) (国内生产总值)Sentence:The country's Gross Domestic Product grew by 3% this year, indicating economic expansion.中文翻译:该国今年的国内生产总值增长了3%，显示出经济的扩张。
2. Inflation (通货膨胀)Sentence:High inflation rates can erode consumers' purchasing power over time.中文翻译:高通货膨胀率会随着时间的推移侵蚀消费者的购买力。
3. Unemployment Rate (失业率)Sentence:The unemployment rate decreased to 5% last month, signaling a recovering labor market.中文翻译:上个月失业率下降至5%，表明劳动力市场正在恢复。
4. Fiscal Policy (财政政策)Sentence:The government implemented expansionary fiscal policy to stimulate economic growth.中文翻译:政府实施了扩张性的财政政策以刺激经济增长。
5. Monetary Policy (货币政策)Sentence:The central bank adjusted its monetary policy by lowering interest rates to encourage borrowing.中文翻译:中央银行通过降低利率调整了货币政策，以鼓励借贷。
6. Balance of Trade (贸易平衡)Sentence:A positive balance of trade occurs when a country's exports exceed its imports.中文翻译:当一个国家的出口超过进口时，就会出现贸易平衡顺差。
名词解释：Unit 11、Government Goods and Services: Items provided by government, such as roads, schooling, and fire protection, that are not usually sold in markets.2、Government Purchases: Those that require productive (land, labor, and capital) to be diverted from private use by individuals and corporations so they can be used by the government.3、Government Transfer Payments: Government expenditures that redistribute purchasing power among citizens.4、Mixed Economy: One in which government supplies a considerable amount of goods and services and significantly regulates private economic activity.5、Nonmarket Rationing: Rationing of goods and services by any means other than pricing.6、Political Institutions: Rules and generally accepted procedures that evolve in a community for making collective choices.7、Private Goods and Services: Goods and services with benefits that are shared by large groups of consumers and are nonrival and nonexclusive.8、Public Finance: Field of economics that studies government activities and the alternative means of financing government expenditures.9、Pure Market Economy: One in which virtually all goods and services would be supplied by private firms for profit and all exchanges of goods and services would take place through markets, with prices determined by free interplay of supply and demand.Unit 21、Compensation Criteria: Criteria used to recommend change in resource use if the value ofthe gains to gainers in dollar terms exceeds the dollar value of the losses to losers.2、Efficiency Criterion: Benchmark criterion for resource use that is satisfied when resources areused that is satisfied when resources are used over any given period of time in such a way as to make it impossible to increase the well-being of any one person without reducing the well-being of any other person.3、Equity: Judgment about the fairness of an outcome.4、Marginal Conditions for Efficient Resource Allocation: Conditions that are satisfied whenresources are allocated to the production of each good over each period so that MSB=MSC.5、Marginal Net Benefit: Difference between the marginal social benefit and the marginal socialcost of a good or service.6、Marginal Social Benefit: Extra benefit obtained by making one more unit of a good availableover any given time period.7、Marginal Social Cost: Minimum amount of money that is required to compensate the ownersof inputs used in producing a good for making an extra unit of available.8、Normative Economics: Evaluates alternative policies and actions only on the basis of theunderlying value judgments.9、Positive Economics: Scientific approach to analysis that establishes cause and effectrelationships among economic variables.10、Total Social Benefit: Amount of satisfaction provided to consumers by any given quantity of an economic good available over a certain time period.11、Total Social Cost: Value of all resources necessary to make a given amount of an economicgood available over a given time period.12、Utility-Possibility Curve: Curve that illustrates efficient combinations of well-being between two individuals.Unit 31、Coase Theorem: States that governments, by merely establishing the rights o use resources,can internalize externalities when transaction coats of bargaining are zero.2、Command-and-Control Regulation: A system of rules established by government authoritiesthat requires all emitters of wastes to meet strict standards and requires the use of specific pollution control devices.3、Corrective Subsidy: Subsidy designed to adjust marginal private benefit in such a way as tointernalize a positive externality.4、Corrective Tax: Tax designed to adjust the marginal private cost of a good or service in such away as to internalize a negative externality.5、Externalities: Costs or benefits of market transactions not reflected in prices.6、General Theory of Second Best: States that when two opposing factors contribute toefficiency losses, they can offset one another’s distortions.7、Internalization of an Externality: Occurs when the marginal private benefit or cost of goodsand services is adjusted so that the users consider the actual marginal social benefit or cost of their decisions.8、Marginal External Benefit (MEB): Benefit of additional output accruing to parties other thanbuyers or sellers.9、Marginal External Cost (MEC): Extra cost to third parties other than buyers or sellers of agood resulting from production of another unit of a good or service.10、Marginal Private Benefit (MPB): Marginal benefit that consumers base their decisions on.11、Marginal Private Cost (MPC): Marginal cost that producers base their decisions on.12、Negative Externalities: Also called external costs, costs to third parties other than the buyers or the sellers of an item not reflected in the market price.13、Pollution Abatement: Reduction in pollution that results from reduced emissions.14、Pollution Rights: Transferable permits to emit a certain amount of particular wastes into the atmosphere or water per year.15、Positive Externalities: Benefits to third parties other than the buyers or the sellers of a good or service not reflected in prices.16、Small-Number Externalities: Externalities involving few enough parties so that the transaction costs of bargaining to internalize the externalities are negligible.17、Transactions Costs: Value of the time, effort, and cash outlay involved in locating someone to trade with, negotiating terms of trade, drawing contracts, and assuming risks associated with the contracts.Unit 41、Congestible Public Goods: Those for which crowding or congestion reduces the benefits toexisting consumers when more consumers are accommodated.2、Free Rider: Problem that exists when people seek to enjoy the benefits of a benefit of apublic good without contributing anything to the cost of financing the amount madeavailable.3、Lindahl Equilibrium: Exists when the voluntary contribution per unit of the public good ofeach member of the community equals his or her marginal benefit of the public good at the efficient level of output.4、Lindahl Prices: Equilibrium contributions per unit of the public good that equal the marginalbenefit received by each consumer.5、Nonexclusion: Property of a pure public good that exists when it is infeasible to price units ofa good in a way that prevents those who do not pay from enjoying its benefits.6、Nonrival in Consumption: Property of a pure public good that allows a given quantity of thegood to be consumed by an entire population.7、Price-Excludable Public Goods: Goods with benefits that can be priced.8、Private Goods: Items such as food and clothing that are usually rival in consumption and aremade available for sale in markets because people easily can be excluded from benefits if they do not pay.9、Public Goods: Goods with benefits that are shared by large groups of consumers and arenonrival and nonexclusive.10、Pure Private Good: Good that provides benefit only to the person who acquires them and not to anyone else after producers receive compensation for the full opportunity costs of production.11、Pure Public Good: Good that is nonrival in consumption for an entire population of consumers and has nonexclusionary benefit.Unit 51、Arrow’s Impossibility Theorem: States that it is impossible for public choices to meet a set ofconditions for rationality when some voters have multiple-peaked preferences.2、Bureaucracy: Group of agencies in charge of implementing collective choices made throughpolitical institutions.3、Constitutions: The generally accepted set of rules by which decisions are made in a society.4、Implicit Logrolling: Occurs when political interests succeed in pairing on the same ballot orthe same bill two (or more) issues of strong interest to divergent groups.5、Logrolling: Trading of votes on issues of great interest to voters.6、Median Voter: One whose most-preferred outcome is the median of the most-preferredoutcomes of all those voting.7、Median Voter Rule: Political equilibrium is the median most-preferred outcome of all voterswhen collective choices are made under majority rule and all voters have single-peaked preferences.8、Most-Preferred Political Outcome: Quantity of the government-supplied good correspondingto the point at which the person’s tax share is equal to his marginal benefit of the good.9、Multiple-Peaked Preferences: Imply that persons who move away from their most-preferredalternative become worse off at first but eventually become better off as the movement continues in the same direction.10、Political Equilibrium: Agreement on the level of production of one or more public goods, given the specified rule for making the collective choice and the distribution of tax shares among individuals.11、Political Externalities: Losses in well-being that occur when voters do not obtain theirmost-preferred outcomes, given their tax shares.12、Political Parties: Organizations of individuals with similar ideas on the role of government and other issues.13、Political Transactions Costs: Measures of the value of time, effort, and other resources expended to reach and enforce a collective agreement.14、Public Choice: A choice made through political interaction of many persons according to established rules.15、Rational Ignorance: Voter ignorance of either the benefits or costs of government activity stemming from the positive cost of attaining information.16、Simple Majority Rule: Rule under which a proposal is approved if it receives more than half the votes cast in an election.17、Single-Peaked Preferences: Imply that individuals behave as if a unique most-preferred outcome is available, and that the individuals are always made worse off when they move away from the outcome.18、Special-Interest Groups: Lobbies that seek to increase government expenditures that benefit their constituents.19、Tax Shares: Preannounced shares of the unit costs of a public good to be provided by government assigned to citizens voting in an election.。
