Prisoners’ dilemma 囚犯的兩難處境
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 私人儲蓄
The income that households have left after paying for taxes and consumption
Producer price index 生產(chǎn)物價指數(shù)
A measure of the cost of a basket of goods and services bought by firms
Producer surplus 生產(chǎn)者剩余
The amount a seller is paid for a good minus the seller’s cost
Production function 生產(chǎn)函數(shù)
The relationship between quantity of inputs used to make a good and the quantity of output of that good
Production possibilities frontier 生產(chǎn)可能性邊界
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 生產(chǎn)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 利潤
Total revenue minus total cost
Progressive tax 累進稅
A tax for which high-income taxpayers pay a larger fraction of their income than do low-income taxpayers
Proportional tax 比例稅
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 公共儲蓄
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 專利
a government decree giving an inventor the exclusive right to produce, use, or sell an invention
paternalism 父愛主義
the making of judgments by government about what is good for people to have, rather than letting people choose on their own
payroll tax 工薪稅
a tax based on payroll (wages) that is used to finance the Social Security and Medicare programs
perfect competition 完全競爭
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 具有完全流動性的資本
capital that responds quickly to changes in returns in different countries
permanent-income hypothesis 永久收入假說
the theory that individuals base their current consumption levels on their permanent (long-run average) income
permanent-income savings motive 永久收入儲蓄動機
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
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 私人儲蓄
The income that households have left after paying for taxes and consumption
Producer price index 生產(chǎn)物價指數(shù)
A measure of the cost of a basket of goods and services bought by firms
Producer surplus 生產(chǎn)者剩余
The amount a seller is paid for a good minus the seller’s cost
Production function 生產(chǎn)函數(shù)
The relationship between quantity of inputs used to make a good and the quantity of output of that good
Production possibilities frontier 生產(chǎn)可能性邊界
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 生產(chǎn)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 利潤
Total revenue minus total cost
Progressive tax 累進稅
A tax for which high-income taxpayers pay a larger fraction of their income than do low-income taxpayers
Proportional tax 比例稅
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 公共儲蓄
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 專利
a government decree giving an inventor the exclusive right to produce, use, or sell an invention
paternalism 父愛主義
the making of judgments by government about what is good for people to have, rather than letting people choose on their own
payroll tax 工薪稅
a tax based on payroll (wages) that is used to finance the Social Security and Medicare programs
perfect competition 完全競爭
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 具有完全流動性的資本
capital that responds quickly to changes in returns in different countries
permanent-income hypothesis 永久收入假說
the theory that individuals base their current consumption levels on their permanent (long-run average) income
permanent-income savings motive 永久收入儲蓄動機
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