S
Sacrifice ratio牺牲率
The number of percentage points of annual output that is lost in the process of reducing inflation by one percentage point
Scarcity希缺性
The limited nature of societys resources
Shoeleather costs皮鞋成本
The resources wasted when inflation encourages people to reduce their money holdings
Stagflation滞胀
A period of falling output and rising prices
Stock股票
A claim to partial ownership in a firm
Store of value价值储藏
An item that people can use to transfer purchasing power from the present to the future
Strike罢工
The organized withdrawal of labor from a firm by a union
Substitutes替代品
Two goods for which an increase in the price of one good leads to an increase in the demand for the other good
Substitution effect替代效应
The change in consumption that results when a price change moves the consumer along a given indifference curve to a point with a new marginal rate of substitution
Supply curve供给曲线
A graph of the relationship between the price of a good and the quantity supplied
Supply schedule供给表
A table that shows the relationship between the price of a good and the quantity supplied
screening筛选
the process of differentiating among job candidates, when there is incomplete information, to determine who will be the most productive
shadow price影子价格
the true social value of a resource
signaling信号
conveying information, for example by earning a college-degree, to persuade an employer that a prospective worker has desirable characteristics that will enhance his productivity
slope斜率
the amount by which the value along the vertical axis increases as a result of a change in a unit along the horizontal axis; the slope is calculated by dividing the change in the vertical axis (the "rise") by the change in the horizontal axis (the "run")
Smiths "invisible hand"斯密“看不见的手”
the idea that if people act in their own self-interest, they will often also be acting in a broader social interest, as if they had been directed by an "invisible hand"
smoothing consumption均匀消费
consuming similar amounts in the present and future, rather than letting year-to-year income dictate consumption
social marginal cost社会边际成本
the marginal cost of production, including the costs of any negative externality, such as air pollution, borne by individuals in the economy other than the producer
socialism社会主义
an economic system in which the means of production are controlled by the state
soft budget constraints软预算约束
budget constraints facing a firm in which the government subsidizes any losses
static expectations静态预期
the belief of individuals that todays prices and wages are likely to continue into the future
sticky prices粘性价格
prices that do not adjust or only adjust slowly toward a new equilibrium
sticky wages粘性工资
wages that are slow to adjust in response to a change in labor market conditions
stock statistics存量统计
measurements of the quantity of a certain item at a certain point in time, such as capital stock, the total value of buildings and machines
sunk cost沉没成本
a cost that has been incurred and cannot be recovered
supply-constrained equilibrium供给约束的均衡
the equilibrium that occurs when prices are stuck at a level below that at which aggregate demand equals aggregate supply; in a supply-constrained equilibrium, output is equal to aggregate supply but less than aggregate demand
surplus labor剩余劳动
a great deal of unemployed or under employed labor, readily available to potential employers
T
Tariff关税
A tax on goods produced abroad and sold domestically
Tax incidence税收归宿
The study of who bears the burden of taxation
Technological knowledge技术知识
Societys understanding of the best ways to produce goods and services
Theory of liquidity preference流动偏好理论
Keynes theory that the interest rate adjusts to bring money supply and money demand into balance
Total cost总成本
The amount a firm pays to buy the inputs into production
Total revenue总收益
The amount a firm receives for the sale of its output; The amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold
Trade balance贸易余额
The value of a nations exports minus the value of its imports, also called net exports
Trade deficit贸易赤字
An excess of imports over exports
Trade policy贸易政策
A government policy that directly influences the quantity of goods and services that a country imports or exports
Trade surplus贸易盈余
An excess of exports over imports
Tragedy of the Commons公用地悲剧
A parable that illustrates why common resources get used more than is desirable from the standpoint of society as a whole
Transaction costs交易成本
The costs that parties incur in the process of agreeing and following through on a bargain
tacit collusion暗中勾结
collusive behavior among the firms of an oligpoly based on an implicit understanding that it is in each firms best interest not to compete too vigourously; they tacitly understand that it is undesirable to undercut each others prices, but there is no open discussion about price fixing
takeover收购
when one management team (one firm) takes over the control of another
target savings motive目标储蓄动机
people save for a particular target, for example to make a down payment on a house or to pay college tuition
tax expenditures税收支出
the revenue lost from a tax subsidy
tax-favored assets
the return on these assets receives favorable tax treatment, such as tax-exempt municipal bonds
tax subsidies税收补贴
subsidies provided through the tax system to particular industries or to particular expenditures, in the form of favorable tax treatment
technological risks技术风险
risks facing a firm associated with technology, such as whether a new technology will work or be reliable
theorem定理
a logical proposition that follows from basic definitions and assumptions
theory理论
a set of assumptions and the conclusions derived from those assumptions put forward as an explanation for some phenomena
thin markets薄弱市场
markets with relatively few buyers and sellers
tie-ins搭售
a restrictive practice in which a customer who buys one product must buy another
time constraints时间约束
the limitations on consumption of different goods imposed by the fact that households have only a limited amount of time to spend (twenty-four hours a day). The time constraint defines the opportunity set of individuals if the only constraint that they face is time
time value of money货币的时间价值
the fact that a dollar today is worth more than a dollar in the future is called the time value of money
total factor productivity analysis总生产要素分析
the analysis of the relationship between output and the aggregate of all inputs; total factor productivity growth is calculated as the difference between the rate of growth of output and the weighted average rate of growth of inputs, where the weight associated with each input is its share in GDP
trade creation贸易创造
new trade that is generated as a result of lowered tariff barriers
trade diversion贸易多样化
trade that is diverted away from outside countries as a result of lowering tariffs between the members of a trading bloc
trade-offs交易
the amount of one good (or one desirable objective) that must be given up to get more of another good (or to attain more of another desirable objective)
trade secret商业秘密
an innovation or knowledge of a production process that a firm does not disclose to others
trading blocs商业集团
groups of countries that agree to lower trade and other economic barriers among themselves
traditional monetary theory传统货币理论
the theory (first developed by John Maynard Keynes, and therefore sometimes referred to as Keynesian monetary theory) that the nominal interest rate is the opportunity cost of holding money, that the demand for money decreases as the interest rate rises, and that the interest rate is determined to equate the demand and supply of money
transactions demand for money货币的交易需求
the demand for money arising from its use in buying goods and services
transfer programs转移支付计划
programs directly concerned with redistribution, such as AFDC and Medicaid, that move money from one group in society to another
transplants移植
plants constructed in one country by firms based in another. U.S. factories producing Mazdas and Toyotas are Japanese transplants
Treasury bills (T-bills)短期国库券
bills the government sells in return for a promise to pay a certain amount in a short period, usually less than 180 days
trough波谷
the bottom of a recession
trusts信托公司
organizations that attempted to control certain markets in the late nineteenth century; they were designed to allow an individual or group owning a small fraction of the total industry to exercise control
two-tier wage system双重工资系统
wage systems in which newly hired workers are paid lower wages than established workers are paid
U
Unemployment insurance失业保险
A government program that partially protects workers incomes when they become unemployed
Unemployment rate失业率
The percentage of the labor force that is not employed
Union工会
A worker association that bargains with employers over wages and working conditions
Unit of account计价单位
The yardstick with which people post prices and record debts
Utilitarianism功利主义
The political philosophy according to which the government should choose policies to maximize the total utility of everyone in society
Utility效用
A measure of happiness or satisfaction
union shops工会化企业
unionized firms in which all workers are required to join the union as a condition of employment
utility possibilities curve效用可能性曲线
a curve showing the maximum level of utility that one individual can attain, given the level of utility attained by others
V
value of the marginal product边际产量价值
The marginal product of an input times the price of the output
Variable costs可变成本
Cost that do vary with the quantity of output produced
Velocity of money货币流通速度
The rate at which money changes hands
Vertical equity纵向公平
The idea that taxpayers with a greater ability to pay taxes should pay larger amounts
variable inputs可变投入
inputs that rise or fall with the quantity of output
velocity流通速度
the speed with which money circulates in the economy, defined as the ratio of income to the money supply
vertical merger纵向兼并
a merger between two firms, one of which is a supplier or distributor for the other
voluntary unemployment自愿失业
a situation in which workers voluntarily drop out of the labor force when the wage level falls
voting paradox投票悖论
the fact that under some circumstances there may be no determinate outcome with majority voting: choice A wins a majority over B, B wins over C, and C wins over A
