商务英语试题资料.doc

一、Fill in the blanks.(202=40)1. Money has evolved from commodity moneywhich has use value as well as value as a medium of exchangeto non-commodity moneywhich has little or no use value. Non-commodity money is cheap to produce and use, while commodity money involves a high opportunity cost because its non-monetary value is sacrificed. Since non-commodity money is so easy to produce, there is always a danger that is will be overproduced. 2. Changes in the money supply or its rate of growth influence such economic variables as the unemployment rate, aggregate output, inflation, foregin exchange rate and stock market fluctuation.3. The value of an item is a measure of what a person will sacrifice to obtain it. Value is psychological evaluation on items rather than decided by the cost or time human spent in producing them.4. The M-1 aggregate is meant to approximate the transactions balances concept of money. M-1 consists of currency in circulation, travelers checks, demand deposits, and certain other checkable deposits, such as automatic transfer service (ATS) account.5. PPI is formerly known as the “all-commodities” wholesale price index. Actually, it measures average changes in price received by domestic producers for their output. The producer price index is of general interest since it is often a precursor of price level changes at the retail level.6. Based on the cost of a fixed basket of approximately 400 goods and services, including food, fuel, clothing, education, medical services, housing, and interest rates, CPI can be used to measure inflation or price level, Obviously, some items are much more important elements of consumer spending than others, therefore, different weights must be assigned to each of the goods and services contained in the market basket. In china, CPI does not include housing, and the weight assigned to education and medical services is very low.7. The functions of money include: medium of exchange, standard of value, standard of deferred payment, and store of value as well as a macroeconomic control function.8. The term Quad is know as the richest four region of the world: the USA, the European Union, Japan and Canada.9. MNEs have three distinctive characteristics: enormous in size, wide geographical spread and longevity.10.In the complex economic world，no country can be completely self-sufficientThe distribution of natural resources is uneven11. FOB, CFR and CIF are the three most frequently used terms in the international business contract. About them, there is one thing we should mention, the side (rail) of the ship is always considered as the dividing line to divide whether the goods have been successfully delivered or not by the seller.12. Written negotiations often begin with enquiries made by the buyer, in response to an enquiry，a quotation may be sent by the exporter which should include all the necessary information required by the enquiryThe validity period is indispensable to a firm offerAn offer is considered open until after a stipulated time or until it is accepted or rejected. The offeree may find part of the offer unacceptable and may raise for further discussions on his own proposals which constitute a counter-offer It is a refusal of the offer which will be in valid and unbinding once a counter-offer is madeThe counter offer thus becomes a new offer made by the original offeree to the original offerer13. It must be noted that if there is no specific indication whether a credit is revocable or irrevocable，it should be regarded as irrevocable.14. If the establishing bank is a reliable prime bank, confirmation may not be necessary15. Most of Chinas export contracts stipulate for sight credit in payment terms16. Obviously，a sight credit calls for a sight draft. Usance credit requires a usance draft17. If the beneficiary wishes to get payment before the maturity of the draft he can ask the bank to discount the acceptance，and immediately pay him the net proceeds，iethe face value of the draft minus the discount charges.18. If a credit does not specify whether it is transferable，it should be regarded as a nontransferable document according to the credit stipulationsA credit can be transferred only onceBut transferring a credit to more than one party at the same time is allowed provided partial shipments are permitted19. Under the term of CIF, seller pays for the insurance, he is the agent of the buyer on this matter.20. If a credit stipulated that its amount can be renewed or reinstated without specific amendment to the credit being made，it is then a revolving credit21. Major documents required in world trade are: the commercial invoice, the packing list, the bill of lading, insurance policy and certificate of quantity.22. As for the D/P at sight, the bank must pay the draft at the sight of the draft, the documents mainly refers to as the bill of lading.23. Those factors that would influence the foreign exchange rate fluctuation would be: Interest, discount rate, inflation, financial policy, currency policy, and so on.二、translate the following sentences into English.( 53=15)1. 两利相权取其重，两害相比取其轻Between two benefits I take the heavier, between two harms we take the lighter.Of two interests choose the more; while of two evils choose the less.If two harms are inevitable, take the smaller one; if two benefits are optional, choose the bigger one.With two possible benefits, take the bigger one; with two possible harms, take the lesser one.2. 凭不可撤销信用证见票后30天付款By Irrevocable Credit at 30 days after sight3. 数量及总值均得有5的增减，由卖方决定。With 5more or less both in amount and quantity allowed at the Sellers option4. 装运口岸和目的地:从中国港口到新加坡，允许转船和分批装运。Loading Port Destination：From China Ports to Singapore，transshipment partial shipments allowed.5. 付款条件: 买方须于2010年11月30日前将保兑的、不可撤销的、可转让可分割的即期信用证开到卖方。信用证议付有效期至上列装运期后二十天在中国到期。Terms of Payment：By Confirmed，Irrevocable，Transferable，and Divisible Letter of Credit to be available by sight draft to reach the Sellers before November 30，2010 and to remain valid for negotiation in China until the 20th day after the aforesaid Time of Shipment三、Briefly answer the following questions.(35=15)1. Can draft be used to pay the draft? Why?Answer: Yes, the former is a bankers draft while the latter is a commercial draft.2. Whats the difference between GNP and GDP?Answer: The difference between GNP and GDP is that the former focus on ownership of the factors of production while the latter concentrates on the place where production takes place.3. What are the three major functions of the Bill of Lading?Answer: It serves as a cargo receipt signed by the carrier and issued to the shipper or consignor；2It constitutes a contract of carriage between the carrier and the consignor；3It is a document of title to the goods，and the legal holder of the bill of lading is the owner of the goods it covers4. What is comparative advantage theory and why it is not a static concept?Answer:5. If one country occurred inflation, what would happen to its foreign exchange rate?Answer:四、Answer the following questions:(215=30)1. As for the relationship among “value, profit and price”, the classical theory presented by David Richard believes that the value and the price are different things, the former is decided by the average necessary time human spent in producing the product under the average degree of social working hardness, while the latter is decided by the market-which is the balance value achieved by the demanding and the supply equivalent. Value, profit and price are different things, that is, price is equaled to the value plus the price and profits is generated from more time of working. However, nowadays, some people hold different ideas. They say that profits is not so simply as it is equaled to the price minus the value, they believe that value and price are the same thing or the two sides of the same coin, both are psychological matters, value is related to need, you need it then it has value, you don not need it then it has no value. Like the saying goes “one persons meat is another persons poison,” now our question is: If value and price is the same thing, then what creates the profits? 2. As to one countrys foreign exchange rate, do you agree to the saying “the lower, the better”? Answer: no, I disagree. One economy would be hurt by the extremely devaluating of its currency. for exporters would say: “before the devaluating of our currency, I used to import materials from the international market then process them in china to export for US dollars, but now I am turning to china nature resources instead of international materials as china resources is much cheaper than that in the international market after the extremely devaluating of china currency.; I mean we are reluctant to improve our technology to enhance our competitive ability, for profits is easy, in fact, we have more profits than before, we can even directly export china nature resources for US dollars. China nature resources and labors are really cheap after the extremely devaluating of china currency. We can sell our products at very low price in the international market, although the price we sold in dollars income may unable to buy back the materials that we used in producing it from the international market. Bur our profits never reduced. So, extremely devaluating of ones currency will lead to too cheap nature resources and too cheap labors, and support low value low pr