国际经济学名词解释 英文版.docVIP

1 The opportunity cost of producing something measures the cost of not being able to produce something else because resources have already been used. 2 A country with a comparative advantage in producing a good uses its resources most efficiently when it produces that good compared to producing other goods. 3 Labor productivity: the number of units of output that a worker can produce in one hour. 4 The production possibility frontier (PPF) of an economy shows the maximum amount of a goods that can be produced for a fixed amount of resources. 5 Relative wages are the wages of the domestic coun