How do you say national debt and corporate debt in English?

Inflation (or inflation rate) Inflation rate refers to the general price of water.

Average annual growth rate. Hyperinflation refers to a situation where the inflation rate is extremely high (for example,

One thousand, one million or even one billion a year). Hyperinflation refers to the situation of 50%, 100% or 200% every year. Moderate inflation refers to price increases that do not seriously distort relative prices or incomes.

Inflation target government policy to control inflation: officially determined inflation

Target, announce the fluctuation range of inflation rate, and make it clear that the primary goal of monetary policy is low and stable inflation.

. In recent years, many industrial countries have adopted tough or flexible inflation targeting policies.

Innovation with Joseph? Joseph schumpete has a closely related term. Xiongbi

It has three meanings: (1) introducing a brand-new and obviously different product to the market; (2) Introduce new

Production technology; Or (3) developing new markets. [See invention. 〕

Inputs Inputs [or factors of production] refer to goods or services used by enterprises in the production process.

A mechanism of insurance: reducing the risk faced by individuals by spreading the risk among many people.

Make up for the huge losses that individuals may suffer.

Integration, vertical and horizontal vertical integration and horizontal integration

The production process consists of iron ore processing into steel ingot, steel ingot processing into steel plate, steel plate processing and other production stages.

Body. Vertical integration refers to the combination of two or more stages of the production process into one enterprise (for example, iron ore

Stones and ingots). Horizontal integration refers to merging different units in the same production stage into one enterprise.

Intellectual property management patents, copyrights, trade secrets, electronic media and others.

Commodity law with information as the main content. These laws usually give inventors control and compensation in the process of reproduction.

Interest income earned by people who lend money to others.

Interest rate The price paid for a loan in a certain period of time, usually expressed as a percentage of the annual principal. In this way, if the interest rate is 10% per year and the annual loan is 100 USD, you need to pay the interest of 100 USD.

Intermediate products Intermediate products have gone through some manufacturing or processing processes, but they have not yet reached the final product stage. For example, steel and cotton yarn are intermediate products.

International monetary system (also called international financial system) The international monetary system (international financial system) is a system that pays for transnational transactions. The core policy issues are how to determine the exchange rate and how policies affect the exchange rate.

Intervene in the government's activities such as buying and selling local currency in the foreign exchange market to influence the exchange rate of local currency.

Intrinsic value Intrinsic value is the monetary commodity value of an article (for example, the market value of copper contained in a copper coin).

Creatively discover and invent a new product or a new production technology. Attention is different from innovation.

Investment investment (1) is an economic activity that gives up current consumption in order to increase future output. Including tangible investment,

Such as houses, and intangible investments, such as education. Net investment is the value of total investment after deducting depreciation. The total investment is not deducted.

Old investment. (2) In financial terms, the meaning of investment is completely different, which refers to the purchase of securities such as stocks or bonds.

Investment demand (or investment demand curve) is a chart reflecting the corresponding relationship between investment level and capital cost (more specifically, real interest rate).

Invisible hand invisible hand Adam? The concept put forward by Smith in 1776 reveals that in a laissez-faire market economy,

There is a paradox. It is believed that in the process of each participant pursuing his own interests, the market system will give all participants.

Bringing benefits to others is like having an invisible finger of good luck and charity leading the whole economic process.

Involuntary unemployment is unemployment.

Iron law of wages is one of Malthus and Marx's iron law of wages economic theories. Exists in capitalism.

It is an inevitable trend that wages are pressed to the level of subsistence.

See the equal product curve of equal output and other outputs.

K

Keynesian economics Keynesian economics author John? Maynard's set of economic theories founded by Keynes. Think about capital.

The socialist system will not automatically tend to the balance of full employment. According to Keynes, fiscal policy or monetary policy should be adopted.

Policies can increase aggregate demand and solve the problem of underemployment.

Keynesian school Keynesian school See Synonyms at Keynesian economics.

L

Labor force in the official statistics of the United States,1unemployed or employed population group aged 6 and above.

The ratio of the labor force participation rate to the total population of 16 years old and above.

Labor productivity Labor productivity is productivity.

The labor force provides the number of workers available in an economy (or more generally, the number of working hours), and the main determinants of labor force supply are population, real wages and social traditions.

Labor theory of value is often associated with Karl? Marx's connection theory holds that every commodity

The only measure of value should be the amount of labor required to produce it.

Laissez-faire ("leave us alone") laissez-faire ("leave me alone")

One view is that the government should intervene in economic activities as little as possible and let the market make decisions. According to Adam? Smith and other ancient times

This view of classical economists clearly believes that the role of the government should be limited to the following scope: (l) the maintenance of law and order.

; (2) national defense; (3) Providing some public products that private enterprises are unwilling to provide (such as public medical care and environmental sanitation).

One of the three basic factors of production in classical and neoclassical economics of land (others are labor and capital). More generally, land includes not only agricultural and industrial land, but also other natural resources obtained from the ground and underground.

The lowest cost rule refers to the rule that the cost of producing a certain level of output will reach the lowest when the ratio of the marginal income product of each input factor to the price of the input factor is equal.

Legal tender legal settlement is the currency that must be accepted when paying off debts according to the law. All coins and currencies in the United States are legally cleared, but checks are not.

Less developed countries (LDC) The per capita income of less developed countries is much lower than that of "developed" countries (usually referring to most countries in North America and Western Europe).

Liabilities in liability accounting refer to debts or financial liabilities to other enterprises or individuals.

individualism

Philosophy that emphasizes the importance of individual freedom in economic and political affairs; Sometimes called "liberalism". Laissez-faire (including early Adam? Smith, Milton today? Friedman and James? Buchanan believes that people should be able to realize their own interests and wishes, and the government's activities should be limited to ensuring the performance of contracts and providing police and national defense services, so as to provide freedom for individuals to the maximum extent.

Limitation of limited liability owner on enterprise's liability for loss. This loss is limited to this.

Within the scope of funds provided by the owner for the enterprise. Limited liability is an important factor in the rise of large companies. And partnership.

Generally speaking, the owner of the individual owner system needs to bear unlimited liability for debts.

long-time running

A term used to indicate a period of time. In the meantime, we can make full adjustments according to relevant changes. In microeconomics, it refers to such a period of time: enterprises can enter or exit a certain industry, and the huge capital stock can change. In macroeconomics, it is often used to refer to a period of time when all prices, wage contracts, tax rates and expectations can be fully adjusted.

Long-term master supply list Long-term master supply list, which reflects all prices and wages.

The relationship between adjusted output and price level. Here, the total supply curve is vertical.

Lorenz curve Lorenz curve is a geometric figure used to show the inequality of income or wealth.

Minimum sustainable unemployment rate.

Refers to a level of unemployment, at which pressure leads to wage increase and price increase, while pressure leads to wage decrease and price increase.

The pressure of contraction is in equilibrium, so inflation neither rises nor falls; LSUR stands for long-term non-existence.

The lowest unemployment rate that can be obtained under the pressure of rising inflation. In other words, such an unemployment rate is losing money.

At the level of yield, the long-term Phillips curve is vertical.

The fallacy of total labor fallacy of composition has a wrong view that the total amount of work that society needs to do is

It's fixed. The reason for the mistake is that the labor market can be adjusted through wage changes or immigration.

To adapt to the changes in labor supply and demand.

M

M 1, M2 sees the money supply.

Macroeconomics Macroeconomics mainly studies output, income, price level,

Foreign trade, unemployment and other overall economic variables. (See Microeconomics, Microeconomics).

Malthus population growth theory

Malthus first put forward a hypothesis that the "natural" trend of population growth is faster than the growth of food supply. Therefore, with the passage of time, the growth rate of per capita grain output tends to decline, thus setting obstacles for human growth. Generally speaking, this view holds that with the improvement of income level and living standard, the population tends to grow faster.

Managed exchange rate manages the exchange rate system, which is the most popular exchange rate system today. In this system, the state will

From time to time, some interventions will be taken to stabilize the currency, but there is no fixed or officially announced parity.

Marginal cost Marginal cost refers to cost (marginal).

A basic concept of the marginal principle: when the marginal cost of people's activities is equal to the marginal income,

After that, they realized the maximization of their own income or profits.

Marginal product (MP) Marginal product When all other inputs remain the same, the quantity obtained by increasing one unit input.

External output. Sometimes called marginal material products.

Marginal product's distribution theory and marginal product's distribution theory were developed by John? b？ Clark proposed.

Income distribution theory. According to this theory, every productive input is paid according to its marginal product.

Marginal propensity to consume When disposable income increases 1 USD, people

An increase in consumption. Please note that it is different from the average propensity to consume.

It is the ratio of total consumption to total disposable income.

Marginal import tendency (MPm) Marginal import tendency In macroeconomics, due to the increase of GDP,

The dollar amount of imports increased by one dollar.

Marginal savings tend to increase disposable income by one dollar.

The savings part. Note that MPC+MPs = 1 by definition.

Marginal income (Mr) The increase in income that an enterprise can obtain by selling products of other units. Zaiwan

Under the condition of perfect competition, marginal revenue equals price. Under the condition of imperfect competition, the marginal revenue is lower than the price. The reason is:

For this extra product unit, the prices of all products sold before this unit must be reduced.

Marginal income product (MRP) Marginal income product is equal to marginal income multiplied by marginal product. If a manufacturer adds another unit to produce and sell products and gets an extra income, then this extra income is a marginal income product.

Marginal tax rate In terms of income tax, the percentage of the recipient's last dollar used for tax payment. exist

In progressive tax system, the marginal tax rate is higher than the average tax rate.

Marginal utility (MU) Marginal utility Under the assumption that the consumption of other commodities remains unchanged, consumption.

Extra or extra satisfaction brought about by the increase of goods by another unit.

An arrangement in which buyers and sellers interact to determine the price of goods and the number of transactions. Some markets (such as

Stock market and flea market) have real space; While other markets are connected by telephone or computer.

. Now, there is another market launched on the Internet.

Market economy market economy

In this economy, issues related to resource allocation such as "what to do, how to do it and for whom" are mainly realized through market supply and demand.

Ask for it. In this form of economic organization, enterprises are driven by profit maximization and the desire to buy raw materials. enter

Line to produce and sell products; Residents, on the other hand, have factor income, which determines the market demand for goods. Finally,

The supply of enterprises and the demand of families interact, and * * * determines the price and quantity of goods.

Market equilibrium is equivalent to competitive equilibrium.

Market failure refers to the incompleteness of the price system, which hinders the effective allocation of resources. Mainly manifested in externalities and imperfect competition.

Market power The degree of control of an enterprise or a group of enterprises over the price and production decisions of an industry. Be in a monopoly position

In this case, enterprises have a high degree of market dominance. Enterprises in perfectly competitive industries have no market power. The concentration rate is

The most widely used method to measure market power.

Market share The proportion of an enterprise or a group of enterprises in the industry output.

Markup pricing is a pricing method adopted by many enterprises under imperfect competition. According to this pricing method, they first estimate the average cost, and then add a fixed percentage to the cost to reflect the price they want to ask for.

Marxism

Carl wrote it. /kloc-A series of social, political and economic theories put forward by Marx in the 20th century. As an economic theory, Marx predicted that

Due to the inherent contradictions of capitalism, especially its tendency to deprive the working class, the capitalist system will inevitably occur.

Collapse. Marxism is convinced that under the capitalist system, workers are bound to be oppressed on the basis of "iron law of wages", and that wages will always fall to the level that can only maintain the survival of the labor force.

Mean mean statistical term, which has the same meaning as "average". For example, the average of the five numbers L, 3, 6, 10, 20 is 8.

A statistical term, especially one of a series of numbers arranged or graded from low to high.

A middle number, eg in a series of income and test scores. For example, the median of the five numbers 1, 3,6,10,20 is 6.

Mercantilism is a political theory that emphasizes the importance of maintaining a balance of payments surplus to accumulate gold. Therefore, it is advocated that the government strictly control economic policies, and that laissez-faire policies may lead to the loss of gold.

See merchandise trade balance for merchandise trade balance.

Merger merger

A company's acquisition of another company usually takes the form of a company's acquisition of shares in another company. Main shape

The formula includes: (1) vertical merger, which occurs when two enterprises are at different stages of the production process (such as iron ore and steel ingot).

); (2) horizontal merger occurs when two enterprises are located in the same market (such as two automobile manufacturers);

(3) Mixed merger and development

It was born when two enterprises operate separately in two unrelated markets (such as shoelace manufacturing and oil refining).

Microeconomics Microeconomics analyzes the behavior of individual factors in the economy, such as studying the price of a single commodity.

Case or the behavior of a single consumer or a single enterprise. (see macroeconomics, macroeconomics)

Lowest Cost Please refer to Cost (Lowest) for the lowest cost.

Mixed economy is the main form of economic organization in non-capitalist countries. Mixed economy mainly depends on its economy.

At the same time, the price system in economic organizations also adopts various forms of government intervention (such as taxation, expenditure and control) to deal with the macro.

Look at the instability of the economy and the ineffectiveness of the market.

Model model is a formal analysis framework, which reveals the basic characteristics of complex systems through the relationship between several key variables. The model can take many forms, such as geometric figures, mathematical equations and computer programs.

Moderate inflation For moderate inflation, see inflation.

Instantaneous operation is a very short period of time during which production is fixed.

monetarism

An economic school believes that the change of money supply is the main reason for macroeconomic fluctuations. In the short term, the owners of funds

Yi believes that the change of money supply is the main factor that determines the change of actual output and price level. In the long run, it believes that

Prices often change in proportion to the money supply. Monetarists generally believe that the best macroeconomic policy is to maintain

The policy of steady growth of money supply.

Monetary base The government's net monetary liabilities held by the public. In the United States, the base currency equals money.

Plus bank reserves. Sometimes called high-energy currency.

Monetary economy An economy in which trade is conducted through a mutually acceptable trading medium.

Monetary policy The central bank implements the objectives and means of controlling money, interest rates and credit conditions. money

The main tools of policy include: open market business, reserve ratio and discount rate.

Monetary rules Monetary rules are the most important dogma of monetarist economics. It claims that this is the best monetary policy.

The policy is to fix the growth rate of money supply at a level, which should remain unchanged regardless of economic prosperity or not.

Monetary transmission mechanism Monetary transmission mechanism In macroeconomics, the change of money supply is transformed into

Ways to change output, employment, prices and inflation.

Monetary Union Several countries adopt the same common currency as a unit of account and a medium of exchange.

Institutional arrangements. The European Monetary Union plans to adopt the euro as the common currency in 1999.

Monetary means of payment or medium of exchange. Regarding the composition of money, please look at the money supply.

The money demand table shows the corresponding relationship between money holding demand and interest rate level.

When interest rates rise, the attractiveness of bonds and other securities increases and the demand for money decreases. See money demand.

Monetary fund is the abbreviation of short-term financial instruments with flexible monetary funds, and its interest rate is not fixed. Main form

Including money market mutual funds and money market demand deposit accounts of commercial banks.

Money market finance term refers to a set of institutional arrangements for dealing with short-term credit instruments (such as treasury bills and commercial paper).

Money supply The narrow money supply (M 1) includes coins, paper money, all current deposits or checks.

Deposits are called narrow money or transaction money. The broad money supply (M2) includes all items of M 1, plus some items.

Flexible assets or similar currencies, such as savings deposits, money market funds and other similar projects.

Money supply effect Money supply effect When the nominal money supply is constant, the price is closely related to the corresponding money.

The relationship between contraction and the decline of total expenditure.

Money supply multiplier The ratio of money supply (or deposit) growth to bank reserve growth. Generally speaking, the money supply multiplier is equal to the reciprocal of the statutory reserve ratio. For example, if the statutory reserve ratio is 0. 125, then the money supply multiplier is 8.

Currency, currency turnover speed see currency circulation speed.

Monopoly competition A market structure in which there are many sellers and the products they provide.

The product is close, but it can't be completely replaced. In such a market, every manufacturer can exert certain influence on the price of its products.

Monopoly A market structure in which a commodity is provided by a single manufacturer. See natural monopoly.

Buyer's monopoly mirror image: there is only one buyer's market; "Buyer" monopoly.

A form of moral hazard: market failure in moral hazard. Due to the existence of insurance mechanism for some insurance risks

, making the possibility of risk accidents increase. For example, the owner who has insured his car against theft can

Became careless to lock the car. This is because the existence of insurance reduces the motivation of anti-theft.

MPC sees marginal propensity to consume.

Members of Congress see the trend of marginal savings.

Macro-economic term for multiplier, which refers to the exogenous variable of a unit (such as government expenditure or bank reserves).

Changes in variables (such as GDP or money supply) brought about by economic changes. Expenditure multiplier (expenditure multiplier

Tiplier) refers to the increase in GDP caused by the increase in expenditure (such as investment) of 1 USD.

Multiplier model Multiplier model in macroeconomics? m？ Theory put forward by Keynes. It emphasizes self.

The change of independent expenditure (especially investment, government expenditure and net export) determines the output.

The important role of employment and employment change. See multiplier.

ordinary

A group of parties in Nash equilibrium game theory. When the strategies of other participants are determined,

No participant can raise his or her compensation. That is, given player A's strategy, player B doesn't.

The law is better; Given player B's strategy, A can't do better. Nash equilibrium is sometimes called non-cooperative equilibrium.

(Non-cooperative balance).

National debt is synonymous with government debt.

National Income and Production Accounting (PANI) A set of national income and production accounts that measure the whole economy.

A record of national expenditure, income and output in a quarter or a year.

National savings rate National savings rate Total savings (private savings and public savings) divided by domestic net output value.

Natural monopoly naturally monopolizes the average cost of a manufacturer or an industry's products, which is the whole of its scale expansion.

Every process has a significant decline, such as local power transmission. On this occasion, if the industry by a manufacturer, or by a

If it is operated by a monopoly manufacturer, it will provide all the outputs more efficiently than many enterprises.

Near-money "quasi-currency" is a financial asset. It is risk-free and easy to convert into money, so they are connected.

Close to or actually equal to money. Such as money funds or treasury bills.

Negative income tax income tax with a unified plan to replace the existing various income support programs (such as welfare,

Food stamps, etc. ), under this plan, poor families will receive an income supplement, which is equivalent to their remuneration.

If it is increased, the subsidy will be reduced accordingly.

Neoclassical growth model Neoclassical growth model is used to explain the long-term economic growth of industrialized countries.

A theory or model of trends. This model emphasizes capital deepening (that is, the growth of capital-labor ratio) and technological change.

The important role of factors in explaining the potential real GDP growth.

Gross Domestic Product (NDP) GDP is equal to GDP minus depreciation subsidy for capital goods.

Net economic welfare (NEW) Net economic welfare is an indicator of national output, which is used to correct some limitations of GDP indicators.

An item in the national output account of a net exporting country is equal to the export of goods and services minus the import of goods and services.

Net foreign investment is a country's net foreign savings, which is approximately equal to the net return.

Net investment The net investment is equal to the total investment minus the depreciation of capital goods.

The net national product is equal to the gross national product minus the depreciation of capital goods.

In net accounting, it is equal to total assets minus total liabilities.

Neoclassical macroeconomics The economic theory of neoclassical macroeconomics holds that: (l) prices and wages.

Is flexible; (2) People's expectations follow the rational expectation hypothesis. The main theory of neoclassical macroeconomics is that policies are ineffective.

Sex theorem. See Rational Expectation Hypothesis and Policy Ineffectiveness Theory.

Invalidity theory).

See net national product.

For nominal GDP, see Gross Domestic Product of Goss (nominal).

Nominal GNP.

Nominal (or monetary) interest rate Nominal (or monetary) interest rate is the payment of various assets.

. The nominal interest rate represents the annual income of every dollar invested. The real interest rate represents the real return brought by the real investment of each unit.

Noncooperative equilibrium See Synonyms at Nash equilibrium.

Non-renewable resources refer to those resources whose supply is basically fixed and whose regeneration speed can not reach economic development.

Natural resources needed, such as oil and gas.

Norms and positive economics's normative economics and positive economics's normative economics consider "What should we do?

Sample "(as it should be), such as the value judgment of public policy, or the goal of public policy. real

Forensic economics is about the analysis of economic facts and behaviors, and discusses issues such as "the way things are".

Not in the labor force, especially the part of adults who are not working or looking for a job.

Now (negotiable withdrawal slip) account negotiable payment slip current deposit account is a kind of life.

A checking account with interest. See Checking Accounting.

O

Okun's Law Okun's Law The empirical relationship between GDP and unemployment rate in periodic fluctuations discovered by Okun. This rule

It is pointed out that when the actual GDP decreases by 2% relative to the potential GDP, the unemployment rate increases by about 1%. (The earlier estimate was 3: 1).

An incomplete competition of oligopolies. In this case, an industry is dominated by a few suppliers.

An economic system that conducts international trade in goods and capital with other countries (

That is, importers and exporters, a closed economy is an economy without import and export.

Open Economy Multiplier Open Economy Multiplier In an open economy, the leaked income flows to savings and savings.

Flow to the entrance. Therefore, the open economic multiplier of investment or government expenditure can be obtained by the following formula: MPS—-edge in the open economic multiplier formula.

International saving trend-marginal import trend.

Open market business Open market business In order to affect bank reserves, money supply and interest rates, the central bank

The buying and selling of government bonds. When buying securities, the money paid by the central bank will increase commercial banks.

Bank reserves, which led to the expansion of money supply. When securities are sold, the money supply decreases.

Opportunity cost

Second-best use (or opportunity) value of economic commodities, or other sacrificed alternative uses.

Value. For example, the best input for mining one ton of coal is to produce 10 bushel of wheat.

Then the opportunity cost of a ton of coal is 10 bushel of wheat. These wheat can be produced, but it is not actually produced.

. Opportunity cost of assessment

Non-market commodities such as environmental sanitation and safety are very useful.

Ordinal utility

Dimensionless utility measurement method in demand theory. Ordinal utility can indicate that an individual is

Among A and B, A is the first choice, but it doesn't show how much he is the first choice. That is, any two groups of commodities can be sorted relatively, but absolutely.

This difference is immeasurable. This is different from the concept of cardinal utility (proportional utility), which is sometimes used for risky behavior.

Analysis. An example of cardinal utility is that we say that a substance is twice as hot at100g than at 50g.

A phrase with other factors unchanged is sometimes written as "other factors unchanged". Said:

The observed factors change, while other factors remain unchanged or remain unchanged. For example, a downward sloping demand curve.

This line shows that among other factors (such as income)