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1、551Monetary union 1999552Money(money supply)o 553Money demand schedule(demand for money)554 Money funds 555Money market 556Money supply (Ml)(M2)Ml(near monies),557Moneysupply effect 558Moneysupply multiplier 0.125,8559 Money,velocity of(velocity of money)560Monopolistic competition 561Monopoly (natu
2、ral monopoly)562Monopsony 563Moral hazard 564MPC 565MPS 566Multiplier GDP（expenditure multiplier）1GDP 567Multiplier model J-M-autonomous expenditures）（568Nash equilibrium ABBAnoncooperative equilibrium)(government debt)570National income and product accounting 571National savings rate 572Natural mon
3、opoly 569National debt(NIPA)573Near money 574Negative income tax 575Neoclassical model of growth GDPo 576Net domestic product（NDP）GDP 577Net economic wefare(NEW)GDP 578Net exports 579 Net foreign investment 580Net investment 581Net national product NNP GNP 582Net worth 583New classical macroeconomic
4、s (1)(2)(rational expectation bypothesis)(policy ineffectiveness theory)584NNP 585Nominal GDP(goss domestic product,nominal)(gross national product,nominal)587Nominal(or money)interest rate 588Noncooperative equilibrium(Nash equilibrium)589Nonrenewable resources 590Normative vs.positive economics(wh
5、at ought to be),(the way things are)591Not in the labor force 586Nominal GNP 592NOW(Negotiable order of withdrawal)account(checkingaccounting 593Okun s law GDPGDPGDP2%1%3：l)o 594 Oligopoly 595 Open economy (closed economy)596Openeconomy multiplier MPSMPm597 Openmarket operations 3!598Opportunity cos
6、t (next-best)1010599Ordinal utility (dimensionless)AB A,10050 600Other things constant ceteris paribuso601Outputs 602Paradox of thrift 603Paradox of value 604Pareto efficiency(or Pareto optimality)(allocative effcitncy)605Partialequilibrium analysis 606Partnership 607Patent 20 608Payoff table 609Pay
7、offs(payoff table)o 610Perfect competition(competition,perfect)611Personal income 612Personal saving 613Personal savings rate 614Phillips curve AW615Policy ineffectiveness theorem 616Portfolio theory 617Positive economics（normative vs.positive economics）618Post hoc fallacy post hoe,ergo propter hoc,
8、AB,AB”，GDP,GDPo620Potential output GDP(potential GDP)619Potential GDP GDP 621Poverty 0 622PPF（production possibility frontier 623Present value of an asset I B W,624Price-elastic demand 1625Priceelasticity of demand Ep）626Price elasticity of supply 627Price flexibility 628Price index 629Priceinelasti
9、c demand 1630Private goods（public goods）o 631Producer price index 632Product,average(average product)633Product differentiation 634Product,marginal Marginal product 635Production function 636Productionpossibility frontier（PPF）PPFPPF637Productivity 638Productivity growth 1990100,1991 101.7,19901991 1
10、.7%o 639Productivity of capital,net (rate of return)640Productivity slowdown 1973 641Profit (I)(2)642Profitandloss statement 643Progressive,proportional,and regressive taxes 644Property rights 645Proportional tax 646Proprietorship individual 647Protectionism 648Public choice (publicchoice theory)o 649Public debt(government debt)650Public good