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發表於 2-11-2008 12:58:30
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Recession/Contraction衰退/緊縮
A recession occurs when an economy faces falling growth rate of real GNP. As consumption and investment are falling, economic activities and aggregate demand are falling. During this period, inflation rate is decreasing and unemployment rate starts to increase.
Furthermore, according to the government, a recession occurs if the growth rate of real GNP declines for least three consecutive quarters.
Trough/Depression谷底/蕭條
When an economy bottoms out, a trough occurs. It is a hard time for an economy with low growth rate of real GNP. It suffers from a high unemployment rate. The aggregate demand for good and services is low and the general price level also tends to stay at low level.
Socialist Economy社會主義經濟
Property is owned by the government/state. It means that most resources are collectively owned by the central authority. Individuals have no rights to buy or sell their properties or produce anything without government permission.
Capitalist Economy資本主義經濟
Property is owned by private individuals. therefore, consumers are free to buy or sell their private properties, and are free to produce any quantities of any goods. |
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