1、|新编商务英语阅读教程 （第二版）练习参考答案Unit OneI.1. 资产 C2. 边际变动 E3. 市场势力 I4. 劳动生产力（率） J5. 经济学 A6. 市场失灵 G7. 市场经济 F8. 机会成本 D9. 通货膨胀 K10. 外部性 H11. 效率 B12. 菲利普斯曲线 LII.Passage One经济学的研究主要分为两部分：宏观经济学与微观经济学。宏观经济学着眼于经济全局一幅宏观的画面。在宏观经济学中，我们研究国家的政策目标，例如充分就业、抑制通货膨胀、经济增长等，而不考虑个人或者单个团体的利益和行为。对宏观经济学的关注是为了从总体上认识并改善经济的运行。微观经济学则关注宏观
2、画面中的细节。在微观经济学中，我们着眼于实际构成宏观经济的个人、厂商和政府机构。我们感兴趣的是这些独立经济单位的行为。他们的目标何在？以有限资源实现目标的途径是什么？如何对各种激励和机会做出反应？宏观经济学主要关注，例如，总消费性支出对总产出、就业及物价的影响。很少关注消费性支出及其决定因素的实际内涵。相反，微观经济学关注的是个体消费者具体的支出决策及其影响因素（爱好、物价水平、收入状况） 。宏、微观经济学的区别还反映在关于企业投资的讨论中。宏观经济学中，我们需要了解决定企业总投资率的因素以及这些投资对一国的总产出、就业及物价水平产生影响的路径。而微观经济学中，我们关注的是各家企业关于生产率、
3、生产要素的抉择以及具体物品的定价决策。了解宏、微观经济学的区别并非难事。在现实社会，宏观经济的表现有赖于微观行为，而微观行为又受宏观经济表现的影响。因此，人们只有了解了所有经济活动的参与者的行为方式及其成因，才能充分了解整个经济的运作方式。但是，就如你会开车而不懂发动机的构造原理那样，你能观察到经济运行方式但并不能完全解开其中奥秘。在宏观经济学中我们注意到经济这部汽车在踩油|门时加速，踩刹车时减速。这就是我们在大多数情形下所需了解的一切。然而，汽车总有出故障的时候。如出了故障，我们必须更多地了解踏板的运行原理。这就引导我们进行微观的研究。各个零件是如何发挥作用的？哪些零件能够被修理亦或应该得到
4、修缮？Passage Two在寻找消费者行为的解释时，我们不得不承认经济学中得不到所有的答案。但它确实提供了一个有别于其它研究领域的独特视角。虽然精神病学家和社会学家为各种不同的消费模式提供了诸多理由，但他们的解释都显得不够充分。充其量，社会精神病学理论告诉我们为什么青少年、男人、女人渴望某种特定的商品或服务。他们并未解释该实际购买哪种商品。渴望只是消费过程中的第一步。为了获得商品和服务，一个人必须愿意并且能够为他想要的东西付钱。生产者不会因为你想满足自己的渴望（如弗洛伊德所说）而把他们的产品给你。他们希望你用钱来交换他们的产品。因此，价格和收入与更基本的渴望和偏好一样都与消费决策相关。当然，
5、在解释消费者行为时，经济学家把重点放在商品和服务的需求上。说某人需要一件特定的商品意味着他有能力并且愿意按某种价格购买该商品。在市场上，金钱至上：支付意愿和能力是关键。决定一人购买特定商品的意愿和能力的因素有哪些？经济学家发现四大影响消费者需求的因素：偏好、收入、预期以及其它商品的价格。请再次注意，渴望（偏好）只是决定需求的其中一个因素。其它决定因素（收入、预期、其它商品）也会影响到一个人是否愿意并且能够按特定价格购买某件商品。III.Passage one The market for a good consists of the actual and potential buyers an
6、d sellers of that good. For any given price, the demand curve shows the quantity that demanders would be willing to buy, and the supply curve shows the quantity that suppliers of the good would be willing to sell. Suppliers are willing to sell more at higher prices (supply curves slope upward) and d
7、emanders are willing to buy less at higher prices (demand curves slope downward). Market equilibrium, the situation in which all buyers and sellers are satisfied with their respective quantities at the market price, occurs at the intersection of the supply and demand curves. The corresponding price
8、and quantity are called the equilibrium price and the equilibrium quantity. Unless prevented by regulation, prices and quantities are driven toward their equilibrium values by the actions of buyers and sellers. If the price is initially too high, frustrated sellers will cut their price in order to s
9、ell more. If the price is initially too low, so that there is excess demand, competition among buyers |drives the price upward. This process continues until equilibrium is reached.Passage twoSome of the broad issues that macroeconomists study are: sources of economic growth and improved living stand
10、s; trends in average labor productivity (or output per employed worker); short-term fluctuations in the pace of economic growth (recessions and expansions); causes and cures of unemployment and inflation, economic independence among nations. To help explain differences in economic performance among
11、countries, or in economic performance in the same country at different times, macroeconomists study the implementation and effects of macroeconomic policies. We defined macroeconomic policies as government policies that affect the performance of the economy as a whole. There are three major types of
12、 macroeconomic policy: monetary policy, fiscal policy and structural policy. The term monetary policy refers to the determination of the nations money supply. Fiscal policy refers to decisions that determine the governments budget, and the term structural policy includes government policies aimed at
13、 changing the underlying structure, or institutions, of the nations economy.IV.Passage Onedriven, accounts, weaker, as, over, linked, dependent, firm, slow, share, contribution, impact, relying, growth, domesticPassage twocharges, perfectly, greater, inequality, level, reason, competitive, price, tr
14、ends, structures, relatively, that, in, allocating, createdV.1.C 2. F 3. A 4. D 5. B 6. EUnit TwoI.1. 最惠国待遇 J2. 关税与贸易总协定 I3. 服务贸易总协定 K4. 与贸易相关的知识产权 H5. 自由贸易区 C|6. 国民待遇 B7. 贸易壁垒 L8. 多哈发展议程 D9. 倾销 E10. 政府采购 A11. 乌拉圭回合 G12. 过度型经济（体）FII.Passage One关贸总协定的主要条款序言缔约各国政府认为在处理它们的贸易和经济事业的关系方面，应以提高生活水平、保证充分就业、保
15、证实际收入和有效需求的巨大持续增长、扩大世界资源的充分利用以及发展商品的生产与交换为目的。期望达成互惠互利协议，导致大幅度地削减关税和其他贸易壁垒，取消国际贸易中的歧视待遇，以对上述目的作出贡献。经各国代表谈判达成如下协议：第一条 一般最惠国待遇1在关税方面，在输出和输入的规章手续方面一缔约国对来自或运往其他国家的产品所给予的利益、优待、特权或豁免，应当立即无条件地给予来自或运往所有其他缔约国的相同产品。第三条 国内税与国内规章的国民待遇1各缔约国认为：国内税和其他国内费用，影响产品的国内销售的法令、条例和规定在对进口产品或国产品实施时，不应用来对国内生产提供保护。第六条 反倾销税和反贴补税1
16、各缔约国认为：用倾销的手段将一国产品以低于正常价值的办法挤入另一国贸易内，如因此对某一缔约国领土内已建立的某项工业造成重大的损害或产生重大威胁，或者对某一国内工业的新建产生严重阻碍，这种倾销应该受到谴责 本条所称一产品以低于它的正常价值挤入进口国的贸易内，系指从一国向另一国出口的产品的价格：a. 低于相同产品在出口国用于国内消费时在正常情况下的可比价格，或b. 如果没有这种国内价格，低于： （）相同产品在正常贸易情况下向第三国出口的最高可比价格；或(）产品在原产国的生产成本加合理的推销费用和利润第十一条 数量限制的一般取消1任何缔约国除征收税捐或其他费用以外，不得设立或维持配额、进出口许可证或
17、其他措施以限制或禁止其他缔约国领土的产品的输入，或向其他缔约国领|土输出或销售出口产品。第十六条 贴补1任何缔约国如果给予或维持任何贴补，包括任何形式的收入支持或价格支持在内，以直接或间接增加从它的领土输出某种产品或减少向它的领土输入某种产品，它应将这项贴补的性质和范围、这项贴补对输出入的产品数量预计可能产生的影响以及使得这项贴补成为必要的各种情况，书面通知缔约国全体。如这项贴补经判定对另一缔约国的利益造成严重损害或产生严重威胁，给予贴补的缔约国，应在接到要求后与有关的其他缔约国或缔约国全体讨论限制这项贴补的可能性。第十七条 为保障国际收支而实施的限制1虽有本协定第十一条第一款的规定，任何缔约
18、国为了保障其对外金融地位和国际收支，可以限制准许进口的商品数量或价值。第十九条 对某些产品的进口的紧急措施1 （a）如因意外情况的发展或因一缔约国承担本协定义务（包括关税减让在内）而产生的影响，使某一产品输入到这一缔约国领土的数量大为增加，对这一领土内相同产品或与它直接竞争产品的国内生产者造成严重损害或产生严重的威胁时，这一缔约国在防止或纠正这种损害所必需的程度和时间内，可以对上述产品全部或部分地暂停实施其所承担的义务，或者撤销或修改减让。Passage Two虽然每次（贸易政策）审议强调的是各成员国的具体问题和措施，但在2007 年的审议中出现了一些共性的议题，包括：政策制定及实施的透明度问
19、题；经济环境及贸易自由化问题；区域性贸易协定及其与多边贸易体制的关系；关税问题，包括：关税上限、关税升级、关税优惠、关税的合理调整及适用税率和约束税率的差额；清关程序；进出口限制措施及许可证审批程序；应急措施的启用，如反倾销税及反补贴税；技术性及卫生措施和市场准入问题；实施的标准及遵循国际规范的情况；知识产权的立法与执法情况；政府采购政策及措施；国有化及私有化计划；与贸易相关的竞争及投资政策；激励措施，如补贴和税收减免；各行业的贸易政策问题，尤其是农业与服务业的开放问题；|服务贸易总协定的承诺情况；特殊差别待遇，包括市场准入及执行情况，尤其在海关估价、 与贸易相关的知识产权及与贸易相关的投资措
20、施方面；实施世贸组织协定的技术支持、贸易援助的经验及综合框架。III. Passage oneThe mercantilists believed that a nation could gain in international trade only at the expense of other nations. As a result, they advocated restrictions on imports, incentives for exports, and strict government regulation of all economic activities. Ac
21、cording to Adam Smith, trade is based on absolute advantage and benefits both nations. That is, when each nation specializes in the production of the commodity of its absolute advantage and exchange part of its output for the commodity of its absolute disadvantage, both nations end up consuming more
22、 of both commodities. Absolute advantage, however, explains only a small portion of international trade today. David Ricardo introduced the law of comparative advantage. This postulates that even if one nation is less efficient than the other nation in the production of both commodities, there is st
23、ill a basis for mutually beneficial trade. The less efficient nation should specialize in the production and export of the commodity in which its absolute disadvantage is less. Gottfried Haberler came to the “rescue” by explaining the law of comparative advantage in terms of the opportunity cost the
24、ory. This states that the cost of a commodity is the amount of a second commodity that must be given up to release just enough resources produce one additional unit of the first commodity.Passage twoThe Uruguay Round of trade negotiations was completed in December 1993. It called for the reduction o
25、f average tariffs on industrial goods from 4.7 percent to 3 percent, for quotas to be replaced by tariffs, and for antidumping and safeguards to be tightened. The agreement also called for reduction in agricultural export subsidies and industrial subsidies, and for protection of intellectual propert
26、y. During 1996 and 1997, agreements were reached to open up trade in telecommunications, financial services, and information technology. In July 2000, EU-Mexico free trade agreement became effective; in November 2001, the Doha Round was initiated; in December 2001, China became the 144th member of W
27、TO; and in August 2002, Congress granted the president trade negotiating authority or fast track. The attempt to launch a new “Millennium Round” failed when nations were unable to reach agreement |on the agenda at the trade conference in November 2001. Nevertheless, protectionism remains high, espec
28、ially in agriculture and textile, which are of great importance to developing countries, and antidumping and safeguards are abused. In addition, the trade and restructuring problems of former communist countries have not been adequately addressed, the world is breaking down into a few major trading
29、blocs, and a serious antiglobalization movement has come into existence.IV.Passage one growth, partly, post, agreement, tariffs, each, exchange, reductions, completed, extending, liberalization, goods, quota, adhere to, intellectual, created, regular, disputes, entry, called, increasinglyPassage two
30、push, come, over, announced, trading, arisen, interdependence, strategic, open, trend, globalization, environmental, interconnect, most, increasingly, globalV.1C 2. A 3. F 4. E 5. D 6. BUnit ThreeI.1. 通货膨胀 C 2. 中央银行 E 3. 经常账户 O 4. 汇率 H 5. 贸易收支 K 6. 贸易赤字 N 7. 财政政策 M 8. 直接投资 L 9. 现金流量表 B 10. 复式记账法 D 1
31、1. 证券投资 G 12. 国际货币基金组织 I 13. 浮动汇率 A 14. J 曲线效应 J |15.供应链管理 F.Passage one美联储的货币政策和行为注重所谓的货币总量。货币总量的作用是度量任何时候可供给经济社会的货币总额。最基础的货币总量是基础货币，也称为高能货币。基础货币被定义为流通中的现金（硬币和公众持有的联邦储备发行的钞票）加上银行体系中所有的准备金。值得注意的是，准备金构成基础货币的一部分，而准备金受美联储控制。因此，基础货币是美联储运用各种货币工具最能影响的一种货币总量。具有交换媒介职能的工具货币和活期存款也包含在货币总量中，有时也称为狭义货币量，以 M1 表示。因
32、此 M1 度量的是经济社会中交换媒介（货币和活期存款）的总量。M2 是更广义的货币量，包括所有具有价值储藏功能、用以替代货币的工具。因此，M2 定义为 M1 加上银行及储蓄机构定期和活期存款、投资于零售货币市场共同基金的美元及其他账户，如隔夜回购协议。一些分析家又发展了其他两种货币量 M3 和 L（针对流动资产） 。这些货币量等于 M2 加上某些其他金融资产，包括长期定期存款、商业票据、银行承兑票据和某些国库券。Passage two通过对国际经济的分析可将贸易平衡的调整过程分为三个阶段：1）外汇合约期；2）传递期； 3）数量调整期。这三个过程及其产生的整个贸易平衡的调整路径呈现倒“J”形。这
33、一调整路径称为 J 曲线调整路径。在第一阶段，即外汇合约期，没有预期的本币的突然贬值其影响并不确定，因为所有出口和进口合约都已生效。无论是盈利还是亏损，签署这些合约的公司都必须履行合约义务。贸易平衡调整路径的第二阶段称为传递期。当汇率变动时，进口商和出口商最终必定将汇率变动转嫁到其产品价格上。例如，在美元大幅贬值后，向美国市场销售产品的外国生产商必须弥补其国内生产成本。这一需求使该外国公司必须报更高的美元价格以获取足够多的本币。该外国公司必须在美国市场提价。美国的进口价格大幅提高，所有的汇率变动最终都转嫁到价格上。相似的，因为美元便宜了，美国的出口价与国外竞争对手比廉价得多。第三个也是最后一个
34、阶段，数量调整期，完成了本币贬值后的贸易平衡调整。随着传递期之后进口和出口价格发生变化，美国国内市场和出口市场的消费者将根据新的价格调整需求。进口相对更贵，所以需求量下降。出口相对更便宜，所以需求量增加。贸易平衡出口消费少于进口消费得到改善。遗憾的是，这三个过程不会一夜间完成。许多国家，像美国，已经历了汇|率的大幅变动，也看到了这一调整过程在较长的时期内发生。.Passage oneA financial market is a market where financial assets are exchanged (i.e., traded). Although the existence
35、of a financial market is not a necessary condition for the creation and exchange of a financial asset, in most economies financial assets are created and subsequently traded in some type of financial market. The market in which a financial asset trades for immediate delivery is called the spot marke
36、t or cash market. Financial markets provide the following economic functions:First, the interactions of buyers and sellers in a financial market determine the price of the traded asset. Or, equivalently, they determine the required return on a financial asset. As the inducement for firms to acquire
37、funds depends on the required return that investors demand, it is this feature of financial markets that signals how the funds in the economy should be allocated among financial assets. This is called the price discovery process.Second, financial markets provide a mechanism for an investor to sell a
38、 financial asset. Because of this feature, it is said that a financial market offers liquidity, an attractive feature when circumstances either force or motivate an investor to sell. If there were not liquidity, the owner would be forced to hold a debt instrument until it matures and an equity instr
39、ument until the company is either voluntarily or involuntarily liquidated. While all financial markets provide some form of liquidity, the degree of liquidity is one of the factors that characterize different markets.The third economic function of a financial market is that it reduces the cost of tr
40、ansacting. There are two costs associated with transacting: search costs and information costs. Passage twoThe foreign exchange market provides the physical and institutional structure through which the money of one country is exchanged for that of another country, the rate of exchange between curre
41、ncies is determined, and foreign exchange transactions are physically completed. Foreign exchange means the money of a foreign country; that is, foreign currency bank balances, banknotes, checks, and drafts. A foreign exchange transaction is an agreement between a buyer and seller that a fixed amoun
42、t of one currency will be delivered for some other currency at a specified rate.The foreign exchange market is the mechanism by which participants |transfer purchasing power between countries, obtain or provide credit for international trade transactions, and minimize exposure to the risks of exchan
43、ge rate changes. The foreign exchange market consists of two tiers: the interbank or wholesale market, and the client or retail market. Individual transactions in the interbank market are usually for large sums that are multiples of a million U.S. dollars or the equivalent value in other currencies.
44、 By contrast, contracts between a bank and its clients are usually for specific amounts.Banks, and a few nonblank foreign exchange dealers, operate in both the interbank and client markets. They profit from buying foreign exchange at a bid price and reselling it at a slightly higher ask (also called
45、 offer) price. Competition among dealers worldwide narrows the spread between bid and ask and so contributes to making the foreign exchange market efficient in the same sense as in securities markets.Importers and exporters, international portfolio investors, MNEs, tourists, and others use the forei
46、gn exchange market to facilitate execution of commercial or investment transactions. Their use of the foreign exchange market is necessary but nevertheless incidental to their underlying commercial or investment purpose. Some of these participants use the market to “hedge” foreign exchange risk.Pass
47、age one thoughtful annual recovered relatively outgrowing well inevitably process charge discussion topics deposits flight liberalization between extremely deal with stimulus, expectation reliedPassage two support tightly provide confidence currency improve clients further decade set up makes sense keen restore engaged accounting for. 1.C 2.A 3.D 4.E 5.BUnit Four I.
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