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
planned economy 计划经济
an economy in which most decisions about resource allocation are made by the government,examda.com
portfolio theories 资产组合理论
theories that argue that monetary policy affects output through its effect on prices of various assets, in particular the prices of stocks
portfolio 资产组合
an investor’s entire collection of assets and liabilities
potential GDP 潜在GDP
a measure of what the value of GDP would be if the economy’s resources were fully employed
potential output 潜在产出
the level of output that would prevail if labor were fully employed (output may exceed that level if workers work more than the normal level of overtime)
precautionary savings motive 谨慎储蓄动机
people save to guard against the chance of an unexpected illness or accident
predatory pricing 掠夺性定价
the practice of cutting prices below the marginal costs of production to drive out a new firm (or to deter future entry), at which point prices can be raised again
present discounted value 现期贴现值
how much an amount of money to be received in the future is worth right now
price index 价格指数
a measure of the level of prices found by comparing the cost of a certain basket of goods in one year with that cost in a base year
principal 本金
the original amount a saver deposits in a bank or a borrower borrows
principal-agent problem 所有者—代理人问题
any situation in which one party (the principal) needs to delegate actions to another party (the agent), and thus wishes to provide the agent with incentives to work hard and make decisions about risk that reflects the interests of the principal
private marginal cost 私人边际成本
the marginal cost of production borne by the producer of a good; when there is a negative externality, such as air pollution, private marginal cost is less than social marginal cost
privatization 私有化
the process whereby functions that were formally run by the government are delegated instead to the private sector