| 单词 | offer curve |
| 释义 | offer curve A diagram showing the willingness of the rest of the world to engage in trade. The offer curve shows the amount of trade any one country can do at various relative prices. For a small country, the offer curve facing it is a straight line, whose slope is proportional to world relative prices of exports and imports. For a country with monopoly or monopsony power, the offer curve facing it is concave, and by using tariffs to restrict its own willingness to trade a large country can improve its terms of trade. The offer curve is a purely theoretical concept: in a multi-country and multi- commodity world actual offer curves are impossible to discover. The horizontal axis shows amounts of good X, assumed to be the exportable of the country concerned; the vertical axis shows amounts of good Y, assumed to be the importable. OAEB shows the trade the rest of the world is willing to do at any given relative prices. For a very small country OAEB is a ray through the origin: the terms of trade available are simply given. For a larger country, OAEB is concave: to do more trade the country has to accept worse terms of trade, as more units of exports have to be paid per unit of imports. OCED shows the amounts of trade the country's residents are willing to do at each relative price. They buy more imports as the terms of trade improve; the offer curve may turn back at some level of exports, as drawn, but need not do so. E represents free trade equilibrium, where the domestic and foreign offer curves intersect. A tariff raises the internal relative price of importables for any given external relative price. This makes residents less willing to trade, and shifts the domestic offer curve inwards to a position such as OFAG. Equilibrium shifts to A, and the terms of trade improve, except in the small country case when the foreign offer curve is linear and the terms of trade are unchanged. |
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