经济学名词解释_英文版.doc
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How people make decisions: 1. people face tradeoffs
2. The cost of something is what you give up to get it
3. Rational people think at the margin
4. People respond to incentives
How people interact: 5.trade can make everyone better off
6. Markets are usually a good way to organize economic activity
7. Government can sometimes improve market outcomes
How the economy as 8. A country’s standard of living depends on its ability to produce
A whole works: goods and services
9. Prices rise when the government prints too much money
10. Society faces a short-run tradeoff between inflation and unemployment
Key concepts:
Ability-to-pay principle(税收的)能力支付原则: The idea that taxes should be levied on a person according to how well that person can shoulder the burden
Absolute advantage绝对优势: The comparison among producers of a good according to their productivity
Accounting profit会计利润: Total revenue minus total explicit cost
Adverse selection逆向选择: The tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uninformed party
Agent代理人: A person who is performing an act for another person, called the principal
Aggregate-demand curve: a curve that shows the quantity of goods and services that households, firms, and the government want to buy at each price level
Aggregate risk: risk that affects all economic actors at once
Aggregate-supply curve: a curve that shows the quantity of goods and services that firms choose to produce and sell at each price level
Appreciation: an increase in the value of a currency as measured by the amount of foreign currency it can buy
Arrow’s impossibility theorem阿罗不可能定理: A mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a val
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