专业英语阅读(国贸专业)课程作业(A)

1、 8/8专业英语阅读(国贸专业)课程作业(A) 专业英语阅读（国贸专业）课程作业（A） 浙江外国语学院国际工商管理学院教师刘钢 I. Translate the following economic terms.（210=20 points） （i）From English into Chinese： 1. credit crunch 信贷危机 2. liquidity 流动性 3. junk bond 垃圾债券 4. laissez-faire 自由放任 5. convertible currency 可兑换货币 （ii）From Chinese into English： 6. 外国直接投

2、资 foreigh direct investment 7. 资产负债表balance sheet 8. 微型萧条mini-depression 9. 要素禀赋fact endowment 10. 自愿出口限制VERs(Voluntary Export Restraints) . Fill in each of the following 10 blanks with an appropriate word（Choose 10 words from the International trade is often explained by the theory of comparative a

3、dvantage, also called the comparative cost theory. This (1)_ theory was developed by David Ricardo, John Stuart Mill, and (2) other _ economists in the nineteenth century. The theory (3)_ emphasizes that different countries or regions have different (4) absolute _ possibilities. A tropical climate i

4、s better suited for growing bananas (5) than _ a cold one. A country like Norway could produce bananas in hot houses, (6) but _ it is cheaper for Norway to (7)import_ bananas than to produce them. Thus, climate establishes a trade pattern between a northern and a southern country. In other cases the

5、 availability of natural resources may be a trade factor. The theory of comparative cost points out that trade between countries can be (8) profitable _ for all, even if one of the countries can produce every commodity more cheaply. As long as there are minor, relative differences in the (9)efficien

6、cy_ of producing a commodity, even the poor country can (10)have_ a comparative advantage in producing it. III. Mark the following 20 statements T (True ) or F (False ) according to the information provided in the given text.（220=40 points） The development of modem nationalism during the 16th centur

7、y shifted attention to the problem of increasing the wealth and power of the various nation-states. The economic policy of the leaders of that time, known as mercantilism, sought to encourage national self-sufficiency. The heyday (兴盛期) of the mercantilist school (学派) in England and Western Europe oc

8、curred during the 16th through the early 18th centuries. Mercantilists valued gold and silver as an index of national power. Without the gold and silver mines in the New World from which Spain drew its riches, a nation could accumulate these precious metals only by selling more merchandise to foreig

9、ners than it bought from them. This favorable balance of trade necessarily compelled foreigners to cover their deficits by shipping gold and silver. Mercantilists took for granted that their own country was either at war with its neighbors, recovering from a recent conflict, or getting ready to plun

10、ge into a new war. With gold and silver, a ruler could hire mercenaries (唯利是图的人) to fight, a practice followed by King George III of the United Kingdom of Great Britain when he used Hessian troops during the American Revolution. As needed, the monarch (君主) could also buy weapons, uniforms, and food

11、to supply the soldiers and sailors. Mercantilist preoccupation with precious metals also inspired several domestic policies.It was vital for a nation to keep wages low and the population large and growing. A large, ill-paid population produced more goods to be sold at low prices to foreigners. Ordin

12、ary men and women were encouraged to work hard and avoid such extravagances (奢侈品) as tea, gin（杜松子酒）, ribbons（缎带）, and silks. It also followed that the earlier that children began to work, the better it was for their countrys prosperity.One mercantilist writer had a plan for children of the poor: Whe

13、n these children are four years old, they shall be sent to the county workhouse and there taught to read two hours a day and be kept fully employed the rest of the time in any of the manufactures of the house which best suits their age, strength, and capacity. As a coherent economic theory, classica

14、l economics starts with Smith, continues with the British economists Thomas Robert Malthus and David Ricardo, and culminates in (告终于) the synthesis of John Stuart Mill, who as a young man was a follower of Ricardo. Although differences of opinions were numerous among the classical economists in the

15、three-quarters of a century between Smiths Wealth of Nations and Mills Principles of Political Economy (1848), members of the group agreed on major principles. All believed in private property, free markets, and, in Mills words, that only through the principle of competition has political economy an

16、y pretension (借口, 托词) to the character of a science. They shared Smiths strong suspicion of government and his ardent (坚定的) confidence in the power of self-interest represented by his famous invisible hand, which reconciled (, 使一致) public benefit with individual pursuit of private gain.From Ricardo,

17、 classicists derived () the notion of diminishing returns, which held that as more labor and capital were applied to land, the increase in yields steadily diminished. Through Smiths emphasis on consumption, rather than on production, the scope of economics was considerably broadened. Smith was optim

18、istic about the chances of improving general standards of life. He called attention to the importance of permitting individuals to follow their self-interest as a means of promoting national prosperity. Malthus, on the other hand, in his enormously influential book An Essay on the Principle of Popul

19、ation (1798), imparted (给予) a tone of gloom to classical economics, arguing that hopes for prosperity were fated to founder (, ) on the rock of excessive population growth. Food, he believed, would increase in arithmetic ratio (2-4-6-8-10 and so on), but population tended to double in each generatio

20、n (2-4-8-16-32 and so on) unless that doubling was checked either by nature or human prudence (谨慎). According to Malthus, natures check was positive: The power of population is so superior to the power of the earth to produce subsistence (口粮, 给养) for man that premature (过早的) death must occur in some

21、 shapes. The shapes it took included war, epidemics, pestilence (恶性传染病) and plague (瘟疫), human vices (人类罪恶), and famine (饥荒), all combining to level (使相等) the worlds population with the worlds food supply. Mills Principles of Political Economy was the leading text on the subject until the end of the

22、 19th century. Although Mill accepted the major theories of his classical predecessors, he held out more hope than did Ricardo and Malthus that the working class could be educated into rational limitation of their own numbers. Mill was also a reformer who was quite willing to tax inheritances (遗产) h

23、eavily and even to allow government a larger role in protecting children and workers. He was far more critical than other classical economists of business behavior and favored worker ownership of factories. Mill thus represents a bridge between classical laissez-faire economics and an emerging welfa

24、re state. T 1. The economic policy executed in England and Western Europe during the 16th through the early 18th centuries is known as mercantilism. T 2. Mercantilists regarded gold and silver as an index of national power. T 3. Mercantilists argued that a nation without the gold and silver mines co

25、uld accumulate these precious metals only by selling more merchandise to foreigners and buying less from them. F 4. Mercantilists kept their own country from any war with other countries. F 5. Mercantilism had little influence on domestic policies. F 6. Mercantilists opposed to hiring children to wo

26、rk. F 7. Mercantilists paid much attention to common peoples living standard. T 8. All classical economists agreed on major principles shown in both Smiths Wealth of Nations and Mills Principles of Political Economy. F 9. John Stuart Mill was not a classical economist. F 10. Thomas Robert Malthus fi

27、nished the synthesis of classical economics. T 11. Classical economists agreed to Smiths strong suspicion of government and his ardent confidence in invisible hand. F 12. The notion of diminishing returns was derived by Smith. F 13. Smith opposed to permitting individuals to follow their self-intere

28、st. T14. An Essay on the Principle of Population argued that hopes for prosperity would become impossible because of excessive population growth. T 15. Malthus believed food increased much slowly than population did. F 16. Malthuss An Essay on the Principle of Population fully supported classical ec

29、onomics. F 17.Ricardo and Malthus argued that the working class could be educated into rational limitation of their own numbers. T 18. Mill favored worker ownership of factories. T 19. Mill thus represents a bridge between free economy and an emerging welfare state. T 20. The above text is mainly ab

30、out the points of view of Mercantilists and classical economists. IV. Read the following two texts and answer each of the following questions by choosing the right answer from the four given choices marked with A、B、C and D.（210=20 points）Agricultural reform in the early years led to substantial grow

31、th in grain output and, around the mid 1980s, China for the first time in its socialist history was able to feed its population from its own resources at reasonably high levels of consumption. China has about 21 per cent of the worlds population but only 10 percent of the worlds arable (可耕种的) land.

32、As China continues its trade liberalization, industrialization and rapid growth, the volume of its net grain imports will rise significantly. Changes throughout the 1990s confirmed these trends.A 1. Agricultural reform in China from the 1980s to 1990s was very important mainly because _. A. China ha

33、s a large population but limited arable land. B. Chinas net grain import is increasing. C. China has a higher level of consumption of goods. D. agricultural reform is more important than other reforms. It has been argued that a problem of food supply is posed by the liberalization of the agricultura

34、l sector in China. One response has been to say that China will feed itself through domestic production and trade. From this perspective, China has strong interests in seeing developed economies dealing with sensitive economic sectors. Another response has been that China can feed itself through the

35、 exchange of food for food. A strong export growth of food products in China has been observed, and may be consistent with Chinas comparative advantage within the agricultural sector. D 2. The problem of food supply is posed by the liberalization of the agricultural sector in China, (paragraph 2 lin

36、e l ) What does the word posed mean? A. affected B. made C. solved D. created A shift in the focus of policy towards the efficiency objective might therefore lead to the growth of exports of some foods as well as imports of others. Cooperation with industrialized economies may be in the form of tech

37、nology transfers and mobilization of funding for rural infrastructure development. All of these developments would facilitate a reorientation to exports or competition with imported products in the food sector in China. Chinese policymakers face a turning point in managing agricultural policy. Refor

38、ms and structural adjustments within the Chinese economy have pushed domestic prices of major grain products above the international counterparts (对应物) since 1994. Continued liberalization of Chinese agriculture is argued as the best policy choice, despite the strong forces for protection within the

39、 Chinese political economy. Agricultural protection policy would not only impose a very high cost on the economy but would also fail to achieve some of its policy goals.Researchers completed a joint research project on Chinas grain marketing system with the University of Adelaide and the Chinese Min

40、istry of Agriculture. The ACIAR-sponsored project produced more than a hundred research papers, several books and two international workshops. The research findings were well received by the Chinese senior officials and international scholars. A 3. From the text we know that _. A. the change of Chin

41、as agricultural policy may lead to the increase in export and import of agricultural products B. China will never be able to feed itself through domestic production and trade C. China should not cooperate with developed countries in agriculture D. China will have a strong net export growth of food p

42、roducts D 4. Which of the following is NOT the reason for the liberalization of Chinese agriculture ? A. Agricultural protection policy would impose a high cost on the economy. B. Agricultural protection could not achieve the economic objectives. C. The liberalization of Chinese agriculture is argue

43、d as the best policy. D. A joint research project has produced many research findings. 5. The above text is mainly about _. A. Chinas food export and import B. Chinas problem of food supply C. Chinas agricultural reform and food policy D. Chinas agricultural protection and liberalization How can mor

44、e Made in the U.S.A. goods get into store shelves in China? Under current trade restrictions, imports from the United States have barely flowed into that nation. However, imports will flood in, if China, the largest emerging market in Asia, joins the World Trade Organization. Although U.S. exports t

45、o China have increased over the past decade, the yearly total is still only about $ 12 billion, a tiny piece of all U.S. exports. Meanwhile, the United States has been a very good market for China s goods: U.S. imports about $ 50 billion worth of goods from China every year, up from roughly 8-10 bil

46、lion worth of yearly imports just a decade ago. D 6. How can more Made in the U.S.A. goods enter into China? A. To make China economy stronger. B. To ask China to import less from other countries. C. To improve the relationship between China and U.S.A. D. To let China join the World Trade Organizati

47、on. B 7. According to above text, the yearly U.S. export to China was _ _. A. about $ 50 billions B. about $12 billions C. $8-10 billion D. a large part of all U.S. exports. If China joins the WTO, the level of U.S. exports to China will skyrocket because high tariffs and various other trade restric

48、tions will be removed. Today tariffs on imports into China range as high as 120 percent. As part of its bid for WTO membership, China has agreed to cut the average tariff rate to 15 percent by the year 2000. In addition, WTO membership would put trade with China under a more standardized legal frame

49、work, giving exporters and importers alike more consistent treatment. A8. China has agreed to cut the average tariff rate to 15 percent by the year 2000 _. A. To get WTO membership B. To improve the relationship between China and U.S.A. C. To balance its foreign trade D. To buy more from other countries excerpt U.S.A. Another benefit of Chinas proposed WTO membership is that U.S. companies would within a few years b