1.Deadweight Loss 无谓损失
2.Comparative Advantage 比较优势
3.Tariffs['tærɪf] are taxes on imported goods.
4.externalities[,ekstɜː'nælɪtɪ]外部性 When a market outcome affects parties other than the 5.buyers and sellers in themarket, side-effects created are called
6.The Coase Theore['θɪərəm]科斯定理 states that if private partiescan bargain without cost over the allocation of resources, then the private market will always solve the problem of externalities on its own and allocate resources efficiently.
7.Excludability[ɪks,kluːdə'bɪlətɪ] 排他性
8.Rival ['raɪvl] 竞争性
9.A free-rider is a person who receives the benefit of a good but avoids paying for it.搭便车
10.Explicit[ɪk'splɪsɪt] costs显性成本 involve a direct money outlay for factors of production.
11.Implicit costs 隐性成本do not involve a direct money outlay.
12.Diminishing[di'miniʃiŋ] marginal product 边际产量递减is the property
whereby the marginal 13.product of an input declines as the quantity of theinput increases.
14.Fixed costs固定成本
15.Variable costs可变成本 are those costs that do change as the firm alters the quantity of output produced.
16.Economies and Diseconomies of Scale 规模经济与不经济
17.Firms try to sell the same good to different customers for different prices. This practice
is called price discrimination[dɪ,skrɪmɪ'neʃən] 价格歧视
18.Only a few sellers, each offering a similar or identical product to the others..Oligopoly [,ɒlɪ'gɒp(ə)lɪ]寡头
19.Many firms selling products that are similar but not identical.垄断竞争Monopolistic Competition
20.Cooperation is difficult to maintain, because cooperation is not in the best interest of the individual player. The Prisoners’ Dilemma [dɪˈlemə]囚徒困境
21.The Long-Run Equilibrium [,ikwɪ'lɪbrɪəm] 长期均衡
22.Factors of Production生产要素
23.The poverty rate is the percentage of the population whose family income falls below an absolute level called the poverty line.贫困率
24.The magnitude of the effects of the minimum wage depends on the elasticity of the demand for labor.最低工资
25.Gross domestic product (GDP) is the total market value of all final goods and services produced within a country in a given period of time.
26.GDP deflator平减指数[di'fleitə]
27.stock[stɒk]股票
28.A budget deficit (an increase in government expenditure) decreases the supply of loanable
funds.供给曲线左移Shifts the supply curve to the left. 提高了均衡利率 Increases the equilibrium interest rate. 降低了可贷资金的均衡数量Reduces the equilibrium quantity of loanable funds.
29.Inflation [ɪn'fleʃən] is an increase in the overall level of prices.
30.classical dichotomy [daɪ'kɑtəmi] 古典二分法，Changes in the money supply affect nominal variables but not real variables.
31.This adjustment of the nominal interest rate to the inflation rate is called the Fisher effect.
32.Net exports 进出口
33.Aggregate-Demand Curve ['ægrɪgət] 总需求曲线
34.he Aggregate Supply Curve 总供给曲线
35.The Crowding-Out Effect 挤出效应
