horizontal integration 横向一体化
the integration of a firm with other firms producing the same product (at the same level of production)
horizontal merger 横向兼并
a merger between two firms that produce the same goods
horizontal restrictions 横向约束
restrictions (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 firm I
Import 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 domestically
In-kind transfers 实物转移支付
Transfers to the poor given in the form of goods and services rather than cash
Income effect 收入效应
The change in consumption that results when a price change moves the consumer to a higher or lower indifference curve
Income elasticity of demand 需求收入弹性
A measure of how much the quantity demanded of a good responds to a change in consumers' income, computed as the percentage change in quantity demanded divided by the percentage change in income
Indexation 指数化
The automatic correction of a dollar figure for the effects of inflation by law or contract
Indifference 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 demanded
Inferior good 低档商品
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A good for which, other things being equal, an increase in income leads to a decrease in quantity demanded
Inflation 通货膨胀
An increase in the overall level of prices in the economy
Inflation 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 account of the external effects of their actions
Investment 投资
Spending on capital equipment, inventories, and structures, including household purchases of new housing
imperfect competition 不完全竞争
any market structure in which there is some competition but firms face downward-sloping demand curves
implicit contract 隐含合同
an unwritten understanding between two groups involved in an exchange, such as an understanding between employer and employees that employees will receive a stable wage throughout fluctuating economic conditions
import function 进口函数
the relationship between imports and national income
incomplete 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 purposes
increasing, 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 index
individual income tax 个人所得税
a tax based on the income received by any individual or household
infant industry argument for protection 幼稚工业保护论
the argument that industries must be protected from foreign competition while they are
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young, until they have a chance to acquire the skills to enable them to compete on equal terms
infinite elasticity of demand 无限需求弹性
the situation that exists when any amount will be demanded at a particular price, but nothing will be demanded if the price rises even a small amount
infinite elasticity of supply 无限供给弹性
situation that exists when any amount will be supplied at a particular price, but nothing will be supplied if the price falls even a small amount
inflation 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, which lead to further price increases
infrastructure 基础设施
the roads, ports, bridges, and legal system that provide the necessary basis for a working economy
insider-outsider theory 局内人—局外人理论
the theory that firms are reluctant to pay new workers (outsiders) a lower wage than current workers (insiders), because current workers will fear beingreplaced by the new log-wage workers and will not participate in cooperating with and training them
interest 利息
the return a saver receives in addition to the original amount she deposited, and the amount that a borrower must pay in addition to the original amount she deposited
interest rate effect 利率效应
the situation that exists when lower interest rates (resulting from an increase in the money supply, or a fall in the price level) induce firms to invest more
investment schedule 投资曲线
the 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 investment
involuntary unemployment 非自愿失业
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the situation that occurs when the supply of those willing to work at the going market wage exceeds the demand for labor J
Job search 寻找工作
The process by which workers find appropriate jobs given their tastes and skills K
Keynesian monetary theory 凯恩斯货币理论
Keynesian unemployment 凯恩斯失业
unemployment that occurs as a result of insufficient aggregate demand; it arises in the demand-constrained equilibrium (where aggregate demand is less than aggregate supply), so that rightward shifts in aggregate demand reduce the level of unemployment
kinked demand curve 有折点的需求曲线
the demand curve perceived by an oligopolist who believes that rivals will match any price cuts but will not match price increases L
Labor force 劳动力
The total number of workers, including both the employed and unemployed
Labor-force participation rate 劳动力参工率
The percentage of the population that is in the labor force
Law 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 rises
Law 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 rises
Law 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 balance
Life Cycle 生命周期
The regular pattern of income variation over a person's life
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Liquidity 流动性
The ease with which an asset can be converted into the economy's medium of exchange
Lump-sum tax 定额税
A tax that is the same amount for every person
learning by doing 干中学
the increase in productivity that occurs as a firm gains experience from producing, and that results in a decrease in the firm's production costs
learning curve 学习曲线；经验曲线
the curve describing how costs of production decline as cumulative output increases over time
less 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 retire
life-cycle savings motive 生命周期储蓄动机
people save during their working lives so that they can consume more during retirement
limit 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 potential competitors that their profits from entering are likely to be limited
Lorenz curve 洛伦兹曲线
a curve that shows the cumulative proportion of income that goes to each cumulative proportion of the population, starting with the lowest income group
Luddites 卢德派分子
early nineteenth-century workmen who destroyed labor-saving machinery rather than see it taking over their jobs M
Macroeconomics 宏观经济学
The study of economy-wide phenomena, including inflation, unemployment, and economic growth
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MBA专业术语汇总中英文
