【正文】 keeping their prices fixed and that customers can be lured away by offering lower prices bilateral trade 雙邊貿易 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 Catchup effect 追趕效應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 39。 revenues also fall, but the money they owe creditors remains unchanged。 the returns received by the owners are not guaranteed but depend on how well the firm does exchange efficiency 交換的效率the condition in which whatever the economy produces is distributed among individuals in an efficient way exchange rate 匯率the rate at which one currency (such as dollars) can be exchanged for another(such as marks, yen, or pounds) excise tax 貨物稅a tax on a particular good or service expected return 預期收益the average returna single number that bines the various possible returns per dollar invested with the chances that each of these returns will actually be paid exportled growth 出口導向型增長the strategy that government should encourage exports in which the country has a parative advantage to stimulate growthFFactors of production 生產要素The inputs used to produce goods and services Federal Reserve (Fed) 聯邦儲備The central bank of the United States Fiat money 法定貨幣Money without intrinsic value that is used as money because of government decree Financial intermediaries 金融中介機構Financial institutions through which savers can indirectly provide funds to borrowers Financial markets 金融市場Financial institutions through which savers can directly provide funds to borrowers Financial system 金融體系The group of institutions in the economy that help to match one person39。The accumulation of investments in people, such as education and onthejob training horizontal integration 橫向一體化the integration of a firm with other firms producing the same product (at the same level of production) horizontal merger 橫向兼并a merger between two firms that produce the same goods horizontal restrictions 橫向約束restrictions (such as an agreement not to pete in price or to enter each others39。s medium of exchange Lumpsum tax 定額稅A tax that is the same amount for every person learning by doing 干中學the increase in productivity。s and 197039。 Goods produced domestically and sold abroad Externality 外部性The impact of one person39。s willingness to pay minus the amount the buyer actually pays Consumption 消費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 Costbenefit analysis 成本—收益分析A study that pares the costs and benefits to society of providing a public good Crowdingout effect 擠出效應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organizational structure in which decision making is concentrated at the top centrally planned economy 中央計劃經濟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 pensate 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 古典經濟學家economists prevalent before the Great Depression who believed that the basic petitive 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 toohigh real wages。 used as a reminder that all variables other than the ones being studied are assumed to be constant Circularflow 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 封閉經濟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An agreement among firms in a market about quantities to produce or prices to