《国际经济学》名词解释(第01章---第06章).doc

Production Possibility Frontier（生产可能性边界） Production Possibility Frontier shows various alternative combinations of two goods that a nation can produce when all of its factor inputs are used in their most efficient manner. Terms of Trade（贸易条件） Terms of trade of a nation are defined as the ratio of the price of its export commodity to the price of its import commodity. An improvement in a nation’s terms of trade（贸易条件改善） An improvement in a nation’s terms of trade requires that the prices of its exports rise relative to the prices of its imports over the given time period. A smaller quantity of export goods sold abroad is required to obtain a given quantity of imports. A deterioration in a nation’s terms of trade（贸易条件恶化） A deterioration in a nation’s terms of trade is due to a rise in its import prices relative to its export prices over a time period. The purchase of a given quantity of imports would require the sacrifice of greater quantity of exports. Mercantilism（重商主义） If a country could achieve a favourable trade balance, it would enjoy payments received from the rest of the world in the form of gold and silver. Such revenues would contribute to increased spending and a rise in domestic output and employment. To promote favourable trade balance, the mercantilists advocated government regulation of trade. Tariffs、quotas and other commercial policies were proposed by the mercantilists to minimize imports in order to protect a nation, s trade position. In short, mercantilists maintained that trade is a zero-sum activity and preached economic nationalism. Price-Specie-Flow Doctrine（价格-铸币-流动学说） A favourable trade balance was possible only in the short run, for over time it would automatically be eliminated. To illustrate, suppose England were to achieve a trade surplus that resulted in an inflow of gold and silver. Because these precious metals would constitute part of England’s money supply, their inflow would increase the amount of money in circulations. This would l