2014年MBA全国联考英语之MBA专业术语(11)

　　L

　　Labor force 劳动力

　　The total number of workers, including both the employed and unemployed

　　Labor-force participation rate 劳动力参工率

　　The percentage of the population that is in the labor force

　　Law of demand 需求规律

　　The claim that, other things being equal, the quantity demanded of a good falls when the price of the good rises

　　Law of supply 供给规律

　　The claim that, others things being equal, the quantity supplied of a good rises when the price of the good rises

　　Law of supply and demand 供求规律

　　The claim that the price of any good adjusts to bring the supply and demand for that good into balance

　　Life Cycle 生命周期

　　The regular pattern of income variation over a person’s life

　　Liquidity 流动性

　　The ease with which an asset can be converted into the economy’s medium of exchange

　　Lump-sum tax 定额税

　　A tax that is the same amount for every person

　　learning by doing 干中学

　　the increase in productivity that occurs as a firm gains experience from producing, and that results in a decrease in the firm’s production costs

　　learning curve 学习曲线;经验曲线

　　the curve describing how costs of production decline as cumulative output increases over time

　　less developed countries (LDCs) 发展中国家

　　the poorest nations of the world, including much of Africa, Latin America, and Asia

　　life-cycle hypothesis 生命周期假说

　　the theory that individuals typically save when they are young and working and spend their savings as they age and retire

　　life-cycle savings motive 生命周期储蓄动机

　　people save during their working lives so that they can consume more during retirement

　　limit pricing 限制性定价

　　the practice of charging a lower price than the level at which marginal revenue equals marginal cost, as a way of deterring entry by persuading potential competitors that their profits from entering are likely to be limited

　　Lorenz curve 洛伦兹曲线

　　a curve that shows the cumulative proportion of income that goes to each cumulative proportion of the population, starting with the lowest income group

　　Luddites 卢德派分子

　　early nineteenth-century workmen who destroyed labor-saving machinery rather than see it taking over their jobs