MBA专业术语汇总(1)
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精心整理MBA专业术语汇总AAbility-to-pay principle 能力纳税原则The idea that taxes should be levied on a person according to how well that person can shoulder the burdenAbsolute advantage 绝对优势Aggregate-demand curve 总需求曲线An as measured by the amount of foreignAutomatic stabilizers 自动稳定器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 outputAverage revenue 平均收益Total revenue divided by the quantity soldAverage tax rate 平均税率Total taxes paid divided by total incomeAverage total cost 平均总成本Total cost divided by the quantity of outputAverage variable cost 平均可变成本Accelerator 加速数its togrowth in investment, accelerating thea network of roads or an educatedAdaptive expectations 适应性预期expectations based on the extrapolation of events in the recent past into the future aggregate expenditures schedule 总支出曲线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 levelantitrust laws 反托拉斯法laws that discourage monopoly and restrictive practices and encourage greater competitionarbitrage 套利the process by which assets with comparable risk, liquidity, and tax treatment are priced to yield comparable expected returnsadverse selection 逆向选择principle that says that those who most those most at risk, but charging a high price risk)willasset 资产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 自主消费that part of consumption that does not depend on incomeaverage costs 平均成本the total costs divided by the total outputaverage productivity 平均产量total quantity divided by the total quantity of inputBBenefits principle 受益原则The idea that people should pay taxes based on the benefits they receive from government servicesBond 债券A certificate of indebtednessBudget constraint 预算约束Budget deficit 预算赤字a market, such as government rules or patentsbasic competitive model 基本竞争模型the model of the economy that pulls together the assumptions of self-interested consumers, profit maximizing firms, and perfectly competitive marketsbequest savings motive 储蓄的遗产动机people save so that they can leave an inheritance to their childrenBertrand competition 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 offering lower prices bilateral trade 双边贸易trade between two partiesboom 繁荣a period of time when resources are being fully used and GDP is growing steadilyCCapital 资本Capital flight 资本外流CartelThe poor tend to grow more rapidly thanAn institution designed to oversee the banking system and regulate the quantity of money in the economyCeteris paribus 其它条件相同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 constantCircular-flow diagram 循环流向图A visual model of the economy that shows how dollars flow through markets among households and firmsClassical dichotomy 古典二分法The theoretical separation of nominal and real variablesClosed economy 封闭经济An economy that does not interact with other economies in the worldCoase theorem 科斯定理Collective bargaining 集体谈判An about quantities to produce or prices to chargeGoods that are rival but not excludableComparable worth 同工同酬A doctrine according to which jobs deemed comparable should be paid the same wageComparative advantage 比较优势The comparison among producers of a good according to their opportunity costCompensating wage differential 补偿性工资差别A difference in wages that arises to offset the nonmonetary characteristics of different jobsCompetitive market 竞争市场A market with many buyers and sellers trading identical products so that each buyer and seller is a price takerComplements 互补品the demand for the other goodConstant returns to scale 规模收益不变The property that long-run average ofA and services bought by a typicalConsumption 消费Spending by households on goods and services, with the exception of purchases of new housingCost 成本The value of everything a seller must give up to produce a goodCost-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 挤出效应The offset in aggregate demand that results when expansionary fiscal policy raises the interest rate and thereby reduces investment spendingCurrency 通货The paper bills and coins in the hands of the publicCyclical unemployment 周期性失业capital gain 资本增值it is solddisabledrelationship that results when an change in one variable is not only correlated with but actually causes the change in another onecentral planning 中央计划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 producedcentralization 集权organizational structure in which decision making is concentrated at the top centrally planned economy 中央计划经济an economy in which most decisions about resource allocation are made by the central governmentcertificate of deposit (CD) 存单circular flow 循环流程how funds move through thewho believed that the basicof the economy and that if short periods forces would quickly restore theunemployment 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 unemploymentcompetitive equilibrium price 竞争性均衡价格the price at which the quantity supplied and the quantity demanded are equal to each otherconsumer protection legislation 消费者保护法laws aimed at protecting consumers, for instance by assuring that consumers have more complete information about items they are considering buyingconsumer sovereignty 消费者权益the principle that holds that each individual is the best judge of what makes him better offconsumption function 消费函数contingency clauses 应变条款statements within a contract that make to beinflation whose initial cause is a rise in production costsCournot competition 古诺竞争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 amountcredentials competition 文凭竞争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 credentialscredit constraint effect 信贷约束效应when prices fall, firms' revenues also fall, but the money they owe creditorsremains unchanged; as a result, firms invest. Because of credit rationing, firmsinvestment decreasescredit rationing 信贷配给credit is rationed when no lender is or thethe one group of consumers in order toDDeadweight loss 无谓损失The reduction in total surplus that results from a taxDemand curve 需求曲线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 acheckDemand schedule 需求表A table that shows the relationship between the price of a good and the quantity demandedDepreciation 贬值A decrease in the value of a currency as measured by the amount of foreigncurrency it can buyDepression 萧条A severe recessionDiminishing marginal productDiscount rate 贴现率The interest rate on the loans that the Fed makes to banksDiscouraged workers 丧失信心的工人Individuals who would like to work but have given up looking for a job Discrimination 歧视The offering of different opportunities to similar individuals who differ only by race,ethnic group, sex, age, or other personal characteristicsDiseconomies of scale 规模不经济The property that long-run average total cost rises as the quantity of output increasesDominant strategy 优势战略A strategy that is best for a player in a game regardless of the strategies chosen bythe other playersdebt 债务capital, such as bonds and bank firm decentralization 分权化a that spells out the choices and possibledeflation 通货紧缩a persistent decrease in the general level of pricesdemand-constrained 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 demand equals aggregate supply at the current price leveldemand-pull inflation 需求拉动型通货膨胀inflation whose initial cause is aggregate demand exceeding aggregate supply at the current price leveldemographic effects 人口效应effects that arise from changes in characteristics of the population such as age, birthrates, and locationderegulation 放松管制devaluation 贬值a reduction in the rate ofunder a fixed exchange rate systemdeveloped countriesthat portion of corporate profits paid out to shareholdersdownward 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 demand or supply curve for labor, resulting in an excess supply of labordual economy 二元经济the separation in many LDCs between an impoverished rural sector and an urbansector that has higher wages and more advanced technologyduopoly 双头垄断an industry with only two firmsdurable goods 耐用品goods that provide a service over a number of years, such as cars, major appliances, and furnituredynamic consistency 动态一致性a policy is said to have dynamic aEEconomics 经济学The cost falls as the quantity of outputmembers of society; The property of society getting the most it can from its scarce resourcesEfficiency wages 效率工资Above-equilibrium wages paid by firms in order to increase worker productivity Efficient scale 有效规模The quantity of output that minimizes average total costElasticity 弹性A measure of the responsiveness of quantity demanded or quantity supplied to one of its determinantsEquilibrium 均衡A situation in which supply and demand have been brought into balance Equilibrium price 均衡价格Equilibrium quantity 均衡数量balance supply and demandEquity 平等The fairly among the members of societyA 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 itExports 出口Goods and services that are produced domestically and sold abroad; Goods produced domestically and sold abroadExternality 外部性The impact of one person's actions on the well-being of a bystandereconomic rents 经济租金payments made to a factor that are in excess of what is required to elicit the supply of that factorefficiency wage theory 效率工资理论economies of scope 范围经济what exists when it is less expensive than itmoney, or capitalequity capital 股份资本capital, such as shares (or stock), supplied to a firm by its owners(shareholders); the returns received by the owners are not guaranteed but depend on how well the firm doesexchange efficiency 交换的效率the condition in which whatever the economy produces is distributed among individuals in an efficient wayexchange rate 汇率the rate at which one currency (such as dollars) can be exchanged for another(such as marks, yen, or pounds)excise tax 货物税a tax on a particular good or serviceexpected return 预期收益export-led growth 出口导向型增长FThe central bank of the United StatesFiat money 法定货币Money without intrinsic value that is used as money because of government decreeFinancial intermediaries 金融中介机构Financial institutions through which savers can indirectly provide funds toborrowersFinancial markets 金融市场Financial institutions through which savers can directly provide funds to borrowers Financial system 金融体系The group of institutions in the economy that help to match one person's saving with another person's investmentFisher effect 费雪效应Fixed cost 固定成本Fractional-reserve bankingthe value of the input's marginal product equals the price of theinputfederal government structure 联邦政府结构a system in which government activity takes place at several levels--national, state, county, city, and othersfirm wealth effect 厂商的财富效应lower prices or lower demand cause firms' profits and net worth to fall, and thismakes them less willing to undertake the risks involved with investmentfiscal policies 财政政策policies that affect the level of government expenditures and taxesfixed exchange rate system 固定汇率体系an exchange rate system in which the value of each currency is fixed in relationship to other currenciesflexible exchange rate systema system in which exchange rates are law of fixed or overhead inputs, whichthe if the economy were at full employment, thus with higher tax revenues and lower public assistance expendituresfull-employment output/ potential 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 than the normal level of overtime)GGDP deflator 平减指数A measure of the price level calculated as the ratio of nominal GDP to real GDP times 100Game theory 博弈理论The study of how people behave in strategic situationsGiffen good 吉芬物品Gross domestic product (GDP)The market value of all final goods in a given period of timeGross national product (GNP)general equilibrium analysis 一般均衡分析a simultaneous analysis of all capital, product, and labor markets throughout the economyGini coefficient 基尼系数a measure of inequality (equal to twice the area between the 45 degree line and the Lorenz curve)green revolution 绿色革命the invention and dissemination of new seeds and agricultural practices that led to vast increases in agricultural output in LDCs during the 1960's and 1970'sHHorizontal equity 横向公平The idea that taxpayers with similar abilities to pay taxes should pay the sameamountHuman capital 人力资本The knowledge and skills that workers and experience;The accumulation of and on-the-job trainingrestrictions (such as an agreement not to compete in price or to enter each others' markets) by competing firms (at the same level of production, for instance, among producers, or among wholesalers, or among retailers)hostile takeover 恶意收购when one management team (one firm) takes over the control of another, against the will of the second firmIImport 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 domesticallyIn-kind transfers 实物转移支付Income effect 收入效应to a higher or lower indifference curveIncome elasticity of demandchange in quantity demandedThe for the effects of inflation by law or contractIndifference curves 无差异曲线Curves that show consumption bundles that give the consumer the same level of satisfaction A good for which an increase in income reduces the quantity demandedInferior good 低档商品A good for which, other things being equal, an increase in income leads to adecrease in quantity demandedInflation 通货膨胀An increase in the overall level of prices in the economyInflation rate 通货膨胀率The percentage change in the price index from the preceding period Internalizing an externality 外部性的内在化Altering incentives so that people take of their actionsInvestment 投资Spending on capital equipment,purchases of new housingany is some competition but firms facestable wage throughout fluctuating economic conditionsimport function 进口函数the relationship between imports and national incomeincomplete markets 不完全市场situations in which no market may exist for some good or for some risk, or in which some individuals cannot borrow for some purposesincreasing, constant or diminishing returns to scale 规模收益递增/不变/递减when all inputs are increased by a certain proportion, output increases by a greater proportion (also known as economies of scale)indexing 指数化the formal linking of any payment to a price indexindividual income tax 个人所得税infant industry argument for protectionon equal termssituation be supplied at a particular price, butinflation tax 通货膨胀税the decrease in buying power (wealth) that inflation imposes on those who hold currency (and other assets, like bonds, the payments for which are fixed in terms of dollars)inflationary spiral 通货膨胀螺旋a self-perpetuating system in which price increases lead to higher wages, whichlead to further price increasesinfrastructure 基础设施the roads, ports, bridges, and legal system that provide the necessary basis for a working economyinsider-outsider theory 局内人—局外人理论the theory that firms are reluctant to pay new workers (outsiders) a lower wagetheminterest 利息the shethe relationship between the level of investment and the (real) rate of interest investment 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 percentage of its spending on investmentinvoluntary unemployment 非自愿失业the situation that occurs when the supply of those willing to work at the goingmarket wage exceeds the demand for laborJJob search 寻找工作The process by which workers find appropriate jobs given their tastes and skillsKKeynesian monetary theory 凯恩斯货币理论Keynesian unemployment 凯恩斯失业the demand-constrained equilibrium than unemploymentLLabor-force participation rate 劳动力参工率The percentage of the population that is in the labor forceLaw of demand 需求规律The claim that, other things being equal, the quantity demanded of a good falls when the price of the good risesLaw 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 risesLaw of supply and demand 供求规律The claim that the price of any good adjusts to bring the supply and demand for that good into balanceLife Cycle 生命周期Liquidity 流动性The ease with which an asset can be of exchangeLump-sum tax 定额税the decline as cumulative output increases over timeless developed countries (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 savings as they age and retirelife-cycle savings motive 生命周期储蓄动机people save during their working lives so that they can consume more during retirementlimit 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 potentialLorenz curve 洛伦兹曲线a curve that shows the cumulative eachLuddites 卢德派分子early ratherMThe including inflation, unemployment, andMarginal changes 边际变动Small incremental adjustments to a plan of actionMarginal cost 边际成本The increase in total cost that arises from an extra unit of productionMarginal product 边际产量The increase in output that arises from an additional unit of inputMarginal product of labor 劳动的边际产量The increase in the amount of output from an additional unit of laborMarginal rate of substitution 边际替代率The rate at which a consumer is willing to trade one good for anotherMarginal revenue 边际收益The change in total revenue from an additional unit soldMarginal tax rate 边际税率Market 市场Market economy 市场经济borrow to invest demand fundsMarket power 市场力量The ability of a single economic factor (or small group of factors) to have a substantial influence on market pricesMedium of exchange 交换媒介An item that buyers give to sellers when they want to purchase goods and servicesMenu costs 菜单成本The costs of changing pricesMicroeconomics 微观经济学The study of how households and firms make decisions and how they interact in marketsModel of aggregate supply and aggregate demand 总需求与总供给模型activity around its long-run trendMonetary neutrality 货币中性Monetary policy 货币政策MoneyThe set people regularly use to buy goods andMoney supply 货币供给The quantity of money available in the economyMonopolistic competition 垄断竞争A market structure in which many firms sell products that are similar but not identicalMonopoly 垄断A firm that is the sole seller of a product without close substitutesMultiplier effect 乘数效应The additional shifts in aggregate demand that result when expansionary fiscal policy increases income and thereby increases consumer spendingMutual fund 共同基金An institution that sells shares to the public and uses the proceeds to buy aportfolio of stocks and bondsM1, M2, M3 货币供给量的度量plus large-denomination savings mutual fundsbit less of anothermarginal propensity to consume 边际消费倾向the amount by which consumption increases when disposable income increases by a dollarmarginal propensity to import 边际进口倾向the amount by which imports increase when disposable income increases by adollarmarginal propensity to save 边际储蓄倾向the amount by which savings increase when disposable income increases by a dollarmarginal utility 边际效用the extra utility, or enjoyment, a person receives from the consumption of oneadditional unit of a goomarket clearing 市场出清market failures approach 市场失灵论(for instance, they want higher government expenditures and taxes),while the other half of the population have preferences on the other side of this voter (they want lower taxes and expenditures)merit goods and bads 公益品和公害品goods that are determined by the government to be good or bad for people, regardless for whether people desire them for themselves or notmixed economy 混合经济an economy that allocates resources through a mixture of public (governmental)and private decision makingmodel 模型a set of assumptions and data used by economists to study an aspect of the economy and make predictions about the future or about the consequences ofvarious policy changesModigliani-Miller theorem 莫迪利安尼—a firm finances itself does not mattermonetarists 货币主义者believe is all the economy needs from themultiplier-accelerator model 乘数—加速数模型a model that relates business cycles to the internal workings of the economy, showing how changes in investment and output reinforce each other; the central ingredients of the model are the multiplier and the acceleratormultilateral trade 多边贸易trade between more than two partiesNNash equilibrium 纳什均衡A situation in which economic actors interacting with one another each choose their best strategy given the strategies that all the other actors have chosen National saving (saving) 国民储蓄The total income in the economy that remains after paying for consumption andgovernment purchasesNatural monopoly 自然垄断Natural rate of unemploymentThe returns to its normal, or natural, rate, regardless of the rate of inflationNet exports 净出口The value of a nation's exports minus the value of its imports, also called the trade balance; Spending on domestically produced goods by foreigners (exports) minus spending on foreign goods by domestic residents (imports)Net foreign investment 国外净投资The purchase of foreign assets by domestic residents minus the purchase of domestic assets by foreignersNominal GDP 名义GDPThe production of goods and services valued at current pricesNominal Variables 名义变量Variables measured in monetary unitsNominal exchange rate 名义汇率of anotherNominal interest rate 名义利率which, in income leads to an increase innatural endowments 自然禀赋a country's natural resources, like good climate, fertile land, or mineralsnet export function 净出口函数a curve that gives the level of net exports at each level of incomenet domestic product (NDP) 国内生产净值GDP minus the value of the depreciation of the country's capital goodsnew classical economists 新古典经济学家economists who, beginning in the 1970;s, built on the tradition of classical economists and believed that by and large, market forces, if left to themselves, would solve the problems of unemployment and recessionsnew growth economists 新增长经济学家economists who, beginning in the 1980's, sought to understand better the basicforces that led the economy to grow ornew Keynesian economistseconomists who, beginning thenations quite poor to being middle-incomeeconomics in which the conclusions rest on value judgments as well as facts and theoriesOOligopoly 寡头A market structure in which only a few sellers offer similar or identical products Open economy 开放经济An economy that interacts freely with other economies around the world Open-market operations 公开市场活动The purchase and sale of United States government bonds by the Fed Opportunity cost 机会成本Whatever must be given up to obtain some itemOkun's law 奥肯定律the observation that as the economyopportunity sets 机会集合and time constraintsoutputsscale of productionPPerfect complements 完全互补品Two goods with right-angle indifference curvesPerfect substitutes 完全替代品Two goods with straight-line indifference curvesPermanent income 持久收入A person's normal incomePhillips curve 菲利普斯曲线A curve that shows the short-run tradeoff between inflation and unemployment Physical capital 物质资本The stock of equipment and structures that are used to produce goods andservicesPigovian tax 庇古税Positive statements 实证表述An federal government for each family size The family income falls below an absolutePrice ceiling 价格上限A legal maximum on the price at which a good can be soldPrice discrimination 价格歧视The business practice of selling the same good at different prices to different customersPrice elasticity of demand 需求价格弹性A measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as a percentage change in quantity demanded divided by the percentage change in pricePrice elasticity of supply 供给价格弹性A measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity suppliedPrice floor 价格下限Prisoners' dilemma 囚犯的两难处境A measure of the cost of a basket of goods and services bought by firms Producer surplus 生产者剩余The amount a seller is paid for a good minus the seller's costProduction function 生产函数The relationship between quantity of inputs used to make a good and the quantity of output of that goodProduction possibilities frontier 生产可能性边界A graph that shows the various combinations of output that the economy can possibly produce given the available factors of production and the available production technologyProductivity 生产率The amount of goods and services produced from each hour of a worker's time;Profit 利润Total revenue minus total costProgressive tax 累进税A tax for pay the same fraction of incomePublic saving 公共储蓄The tax revenue that the government has left after paying for its spendingPareto-efficient allocations 帕雷托有效配置resource allocations, that cannot make a person better off without making someone else worse offpartial equilibrium analysis 局部均衡分析。
