marginal costs and benefits 边际成本和边际收益
costs and benefits that result from choosing a little bit more of one thing and a little bit less of another
marginal propensity to consume 边际消费倾向
the amount by which consumption increases when disposable income increases by a dollar
marginal propensity to import 边际进口倾向
the amount by which imports increase when disposable income increases by a dollar
marginal propensity to save 边际储蓄倾向
the amount by which savings increase when disposable income increases by a dollar
marginal utility 边际效用
the extra utility, or enjoyment, a person receives from the consumption of one additional unit of a goo
market clearing 市场出清
situation that exists when there is neither excess supply nor excess demand
market failures approach 市场失灵论
the argument that government may have an economic role to play when markets fail to produce efficient outcomes
market labor supply curve 劳动的市场供给曲线
the relationship between the wage paid and the amount of labor willingly supplied, found by adding up the labor supply curves of all individuals in the economy，kaoshi da  
median voter 中间投票人
the voter such that half the population have preferences on one side of this voter (for instance, they want higher government expenditures and taxes),while the other half of the population have preferences on the other side of this voter (they want lower taxes and expenditures)
merit goods and bads 公益品和公害品
goods that are determined by the government to be good or bad for people, regardless for whether people desire them for themselves or not
mixed economy 混合经济
an economy that allocates resources through a mixture of public (governmental)and private decision making
model 模型
a set of assumptions and data used by economists to study an aspect of the economy and make predictions about the future or about the consequences of various policy changes
Modigliani-Miller theorem 莫迪利安尼—米勒定理
the theorem that says that under a simplified set of conditions, the manner in which a firm finances itself does not matter
monetarists 货币主义者
economists who emphasize the importance of money in the economy; they tend to believe that an appropriate monetary policy is all the economy needs from the government, and market forces will otherwise solve any macroeconomic problems
moral hazard 败德；道德陷阱
principle that says that those who purchase insurance have a reduced incentive to avoid what they are insured against
multiplier-accelerator model 乘数—加速数模型
a model that relates business cycles to the internal workings of the economy, showing how changes in investment and output reinforce each other; the central ingredients of the model are the multiplier and the accelerator
multilateral trade 多边贸易
trade between more than two parties