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Capital 资本
The equipment and structures used to produce goods and
services
Capital flight 资本外流
A large and sudden reduction in the demand for assets located in a country
Cartel 卡特尔
A group of firms acting in unison
Catch-up effect 追赶效应
The property that countries that start off poor tend to grow more rapidly than countries that start off rich
Central bank 中央银行
An institution designed to oversee the banking system and regulate the quantity of money in the economy
Ceteris paribus 其它条件相同
A Latin phrase, translated as 'other things being equal,' used as a reminder that all variables other than the ones being studied are assumed to be constant
Circular-flow diagram 循环流向图
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 封闭经济
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 集体谈判
The process by which unions and firms agree on the terms of employment
Collusion 勾结
An agreement among firms in a market about quantities to produce or prices to charge
Commodity money 商品货币
Money that takes the form of a commodity with intrinsic value
Common resources 共有资源
Goods that are rival but not excludable
Comparable worth 同工同酬
A doctrine according to which jobs deemed comparable should be paid the same wage
Comparative advantage 比较优势
The comparison among producers of a good according to their opportunity cost
Compensating wage differential 补偿性工资差别
A difference in wages that arises to offset the nonmonetary characteristics of different jobs
Competitive market 竞争市场
A market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
Complements 互补品
Two goods for which an increase in the price of one good leads to a decrease in the demand for the other good
Constant returns to scale 规模收益不变
The property that long-run average total cost stays the same as the quantity of output changes
Consumer price index 消费物价指数
A measure of the overall cost of the goods and services bought by a typical consumer
Consumer surplus 消费者剩余
A buyer's willingness to pay minus the amount the buyer actually pays
Consumption 消费
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
Cost-benefit analysis 成本-收益分析
A study that compares the costs and benefits to society of providing a public good
Crowding-out effect 挤出效应
The offset in aggregate demand that results when expansionary fiscal policy raises the interest rate and thereby reduces investment spending
Currency 通货
The paper bills and coins in the hands of the public
Cyclical unemployment 周期性失业
The deviation of unemployment from its natural rate
capital gain 资本增值
the increase in the value of an asset between the time it is purchased and the time it is sold
capital market 资本市场
the market in which savings are made available to investors
categorical assistance 分类帮助
public assistance aimed at a particular category of people, like the elderly or the disabled
causation 因果关系
relationship that results when an change in one variable is not only correlated with but actually causes the change in another one
central planning 中央计划
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 集权
organizational structure in which decision making is concentrated at the top
centrally planned economy 中央计划经济
an economy in which most decisions about resource allocation are made by the central government
certificate of deposit (CD) 存单
account in which money is deposited for a preset length of time, that must yield a slightly higher return to compensate for the reduced liquidity
circular flow 循环流程
how funds move through the capital, labor, and product markets between households, firms, the government, and the foreign sector
classical economists 古典经济学家
economists prevalent before the Great Depression who believed that the basic competitive 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 古典失业
unemployment that results from too-high real wages; it occurs in the supply constrained equilibrium, so that rightwards shifts in aggregate supply reduce the level of unemployment
competitive equilibrium price 竞争性均衡价格
the price at which the quantity supplied and the quantity demanded are equal to each other
consumer protection legislation 消费者保护法
laws aimed at protecting consumers, for instance by assuring that consumers have more complete information about items they are considering buying
consumer sovereignty 消费者权益
the principle that holds that each individual is the best judge of what makes him better off
consumption function 消费函数
the relationship between disposable income and consumption
contingency clauses 应变条款
statements within a contract that make the level of payment or the work to be performed conditional upon various factors
corporate income tax 公司所得税
a tax based on the income, or profit, received by a corporation
correlation 相关
relationship that results when a change in one variable is consistently associated with a change in another one
cost-push inflation 成本推动型通货膨胀
inflation whose initial cause is a rise in production costs
Cournot competition 古诺竞争
an oligopoly in which each firm believes that its rivals are committed to a certain level of production and that rivals will reduce their prices as needed to sell that amount
credentials competition 文凭竞争
the trend in which prospective workers acquire higher educational credentials, not so much because of anything they actually learn in the process but to onvince potential employers to hire them by signaling that they will be more productive employees than those with weaker credentials
credit constraint effect 信贷约束效应
when prices fall, firms' revenues also fall, but the money they owe creditors remains unchanged; as a result, firms have fewer funds of their own to invest. Because of credit rationing, firms cannot make up the difference; accordingly, investment decreases
credit rationing 信贷配给
credit is rationed when no lender is willing to make a loan to a borrower or the amount lenders are willing to lend to borrowers is limited, even if the borrower is willing to pay more than other borrowers of comparable risk who are getting loans
cross subsidization 交叉补贴
the practice of charging higher prices to one group of consumers in order to subsidize lower prices for another group
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