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I would say - no, there isn't. I for example use a special custom property called "mute" (yes/no). By default it is set to "no". Next, simply include this custom property check into every alert that you have. Then - you can control this at the object level, be it node, volume, application, interface, group.
HOWEVER ... there are no custom properties on a component level. I think we have a feature request somewhere to add them. In this case you can either control this on application level OR, what I do - have a special keyword that you stick in description of every component that you want to mute. For example keyword can be "mutted_component". Then, in your alert logic simple define another condition which will check for this keyword and if it is there - do not trigger alert