takeover 收购
when one management team (one firm) takes over the control of another
 
target savings motive 目标储蓄动机
people save for a particular target, for example to make a down payment on a house or to pay college tuition
 
tax expenditures 税收支出
the revenue lost from a tax subsidy
 
tax-favored assets
the return on these assets receives favorable tax treatment, such as tax-exempt municipal bonds
 
tax subsidies 税收补贴
subsidies provided through the tax system to particular industries or to particular expenditures, in the form of favorable tax treatment
 
technological risks 技术风险
risks facing a firm associated with technology, such as whether a new technology will work or be reliable
 
theorem 定理
a logical proposition that follows from basic definitions and assumptions
 
theory 理论
a set of assumptions and the conclusions derived from those assumptions put forward as an explanation for some phenomena
 
thin markets 薄弱市场
markets with relatively few buyers and sellers
 
tie-ins 搭售
a restrictive practice in which a customer who buys one product must buy another
 
time constraints 时间约束
the limitations on consumption of different goods imposed by the fact that households have only a limited amount of time to spend (twenty-four hours a day). The time constraint defines the opportunity set of individuals if the only constraint that they face is time
 
time value of money 货币的时间价值
the fact that a dollar today is worth more than a dollar in the future is called the time value of money
 
total factor productivity analysis 总生产要素分析
the analysis of the relationship between output and the aggregate of all inputs; total factor productivity growth is calculated as the difference between the rate of growth of output and the weighted average rate of growth of inputs, where the weight associated with each input is its share in GDP
 
trade creation 贸易创造
new trade that is generated as a result of lowered tariff barriers
 
trade diversion 贸易多样化
trade that is diverted away from outside countries as a result of lowering tariffs between the members of a trading bloc
 
trade-offs 交易
the amount of one good (or one desirable objective) that must be given up to get more of another good (or to attain more of another desirable objective)
 
trade secret 商业秘密
an innovation or knowledge of a production process that a firm does not disclose to others
 
trading blocs 商业集团
groups of countries that agree to lower trade and other economic barriers among themselves
 
traditional monetary theory 传统货币理论
the theory (first developed by John Maynard Keynes, and therefore sometimes referred to as Keynesian monetary theory) that the nominal interest rate is the opportunity cost of holding money, that the demand for money decreases as the interest rate rises, and that the interest rate is determined to equate the demand and supply of money
 
transactions demand for money 货币的交易需求
the demand for money arising from its use in buying goods and services
 
transfer programs 转移支付计划
programs directly concerned with redistribution, such as AFDC and Medicaid, that move money from one group in society to another
 
transplants 移植
plants constructed in one country by firms based in another. U.S. factories producing Mazdas and Toyotas are Japanese transplants
 
Treasury bills (T-bills) 短期国库券
bills the government sells in return for a promise to pay a certain amount in a short period, usually less than 180 days
 
trough 波谷
the bottom of a recession
 
trusts 信托公司
organizations that attempted to control certain markets in the late nineteenth century; they were designed to allow an individual or group owning a small fraction of the total industry to exercise control
 
two-tier wage system 双重工资系统
wage systems in which newly hired workers are paid lower wages than established workers are paid
 
U
 
Unemployment insurance 失业保险
A government program that partially protects workers' incomes when they become unemployed
 
Unemployment rate 失业率
The percentage of the labor force that is not employed
 
Union 工会
A worker association that bargains with employers over wages and working conditions
 
Unit of account 计价单位
The yardstick with which people post prices and record debts
 
Utilitarianism 功利主义
The political philosophy according to which the government should choose policies to maximize the total utility of everyone in society
 
Utility 效用
A measure of happiness or satisfaction
 
union shops 工会化企业
unionized firms in which all workers are required to join the union as a condition of employment
 
utility possibilities curve效用可能性曲线
a curve showing the maximum level of utility that one individual can attain, given the level of utility attained by others
 
V
 
value of the marginal product 边际产量价值
The marginal product of an input times the price of the output
 
Variable costs 可变成本
Cost that do vary with the quantity of output produced
 
Velocity of money 货币流通速度
The rate at which money changes hands
 
Vertical equity 纵向公平
The idea that taxpayers with a greater ability to pay taxes should pay larger amounts
 
variable inputs 可变投入
inputs that rise or fall with the quantity of output
 
velocity 流通速度
the speed with which money circulates in the economy, defined as the ratio of income to the money supply
 
vertical merger 纵向兼并
a merger between two firms, one of which is a supplier or distributor for the other
 
voluntary unemployment 自愿失业
a situation in which workers voluntarily drop out of the labor force when the wage level falls
 
voting paradox 投票悖论
the fact that under some circumstances there may be no determinate outcome with majority voting: choice A wins a majority over B, B wins over C, and C wins over A
 
W
 
Welfare economics 福利经济学
The study of how the allocation of resources affects economic well-being
 
Willingness to pay 支付意愿
The maximum amount that a buyer will pay for a good
 
World price 世界价格
The price of a good that prevails in the world market for that good
 
wage discrimination 工资歧视
paying lower wages to women or minorities
 
wage-productivity curve 工资—生产率曲线
the curve that depicts the relationship between wages and productivity
 
wholesale price index 批发价格指数
a price index that measures the average level of wholesale prices
 
work sharing 工作分摊
reducing all employees' hours by equal amounts rather than firing some workers
 
World Trade Organization (WTO) 世界贸易组织
the organization established in 1995, as a result of the Uruguay round of trade negotiations, replacing GATT, designed to remove trade barriers and settle trade disputes
 
Z
 
zero elasticity 零弹性
a demand (or supply) curve has zero elasticity if the quantity demanded (or supplied) does not change at all if price changes; the demand (supply) curve is vertical