Production function 生产函数
The relationship between quantity of inputs used to make a good and the quantity of output of that good
Production possibilities frontier 生产可能性边界
A graph that shows the various combinations of output that the economy can possibly produce given the available factors of production and the available production technology
Productivity 生产率
The amount of goods and services produced from each hour of a worker's time; The quantity of goods and services produced from each hour of a worker's time
Profit 利润
Total revenue minus total cost
Progressive tax 累进税
A tax for which high-income taxpayers pay a larger fraction of their income than do low-income taxpayers
Proportional tax 比例税
A tax for which high-income and low-income taxpayers pay the same fraction of income
Public goods 公共物品
Goods that are neither excludable nor rival
Public saving 公共储蓄
The tax revenue that the government has left after paying for its spending
Pareto-efficient allocations 帕雷托有效配置
resource allocations, that cannot make a person better off without making someone else worse off
partial equilibrium analysis 局部均衡分析
an analysis that focuses on only one or a few markets at a time
partnership 合伙制
a business owned by two or more individuals, who share the profits and are jointly liable for any losses
patent 专利
a government decree giving an inventor the exclusive right to produce, use, or sell an invention
paternalism 父爱主义
the making of judgments by government about what is good for people to have, rather than letting people choose on their own
payroll tax 工薪税
a tax based on payroll (wages) that is used to finance the Social Security and Medicare programs
perfect competition 完全竞争
situation in which each firm is a price taker--it cannot influence the market price; at the market price the firm can sell as much as it wishes, but if it raises its price, it loses all sales
perfectly mobile capita 具有完全流动性的资本
capital that responds quickly to changes in returns in different countries
permanent-income hypothesis 永久收入假说
the theory that individuals base their current consumption levels on their permanent (long-run average) income
permanent-income savings motive 永久收入储蓄动机
people save in good years, to tide them over in bad years; they choose their pattern of savings and spending year by year to average or smooth their consumption over good years and bad
piece-rate system 计件工资制度
a compensation system in which workers are paid specifically for each item produced
planned or unplanned inventories 计划或无计划库存
planned inventories are those firms choose to have on hand because they make business more efficient; unplanned inventories result when cannot sell what they produce
policy ineffectiveness 政策无效性命题
the proposition that government policies are ineffective--policies aimed at stimulating aggregate demand at most change the price level |
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