Open economy 开放经济
An economy that interacts freely with other economies around the world
Open-market operations 公开市场活动
The purchase and sale of United States government bonds by the Fed
Opportunity cost 机会成本
Whatever must be given up to obtain some item
Okun's law 奥肯定律
the observation that as the economy pulls out of a recession, output increases more than proportionately to increases in employment
opportunity sets 机会集合
a summary of the choices available to individuals, as defined by budget constraints and time constraints
output per capita 人均产量
a nation's output divided by the number of individuals in the country
outputs 产量
the outcomes of a production process
overhead costs 管理费用
the costs a firm must pay just to remain in operation. They do not depend on the scale of production
Perfect complements 完全互补品
Two goods with right-angle indifference curves
Perfect substitutes 完全替代品
Two goods with straight-line indifference curves
Permanent income 持久收入
A person's normal income
Phillips curve 菲利普斯曲线
A curve that shows the short-run tradeoff between inflation and unemployment
Physical capital 物质资本
The stock of equipment and structures that are used to produce goods and services
Pigovian tax 庇古税
A tax enacted to correct the effects of a negative externality
Positive statements 实证表述
Claims that attempt to describe the world as it is
Poverty line 贫困线
An absolute level of income set by the federal government for each family size below which a family is deemed to be in poverty
Poverty rate 贫困率
The percentage of the population whose family income falls below an absolute level called the poverty line
Price ceiling 价格上限
A legal maximum on the price at which a good can be sold
Price discrimination 价格歧视
The business practice of selling the same good at different prices to different customers
Price elasticity of demand 需求价格弹性
A measure of how much the quantity demanded of a good responds to a change in the price of that good, computed as a percentage change in quantity demanded divided by the percentage change in price
Price elasticity of supply 供给价格弹性
A measure of how much the quantity supplied of a good responds to a change in the price of that good, computed as the percentage change in quantity supplied divided by the percentage change in price
Price floor 价格下限
A legal minimum on the price at which a good can be sold
Prisoners' dilemma 囚犯的两难处境
A particular 'game' between two captured prisoners that illustrates why cooperation is difficult to maintain even when it is mutually beneficial
Private goods 私人物品
Goods that are both excludable and rival
Private saving 私人储蓄
The income that households have left after paying for taxes and consumption
Producer price index 生产物价指数
A measure of the cost of a basket of goods and services bought by firms
Producer surplus 生产者剩余
The amount a seller is paid for a good minus the seller's cost |
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