Cartel 卡特尔
A group of firms acting in unison
Catch-up effect 追赶效应
The property that countries that start off poor tend to grow more rapidly than countries that start off rich
Central bank 中央银行
An institution designed to oversee the banking system and regulate the quantity of money in the economy
Ceteris paribus 其它条件相同
A Latin phrase, translated as 'other things being equal,' used as a reminder that all variables other than the ones being studied are assumed to be constant
Circular-flow diagram 循环流向图
A visual model of the economy that shows how dollars flow through markets among households and firms
Classical dichotomy 古典二分法
The theoretical separation of nominal and real variables
Closed economy 封闭经济
An economy that does not interact with other economies in the world
Coase theorem 科斯定理
The proposition that if private parties can bargain without
cost over the allocation of resources, they can solve the problem of externalities on their own
Collective bargaining 集体谈判
The process by which unions and firms agree on the terms of employment
Collusion 勾结
An agreement among firms in a market about quantities to produce or prices to charge
Commodity money 商品货币
Money that takes the form of a commodity with intrinsic value
Common resources 共有资源
Goods that are rival but not excludable
Comparable worth 同工同酬
A doctrine according to which jobs deemed comparable should be paid the same wage
Comparative advantage 比较优势
The comparison among producers of a good according to their opportunity cost
Compensating wage differential 补偿性工资差不
A difference in wages that arises to offset the nonmonetary characteristics of different jobs
Competitive market 竞争市场
A market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
Complements 互补品
Two goods for which an increase in the price of one good leads to a decrease in the demand for the other good