ch 7 practice questions

第7章答案Problem1:You manage a risky portfolio with an expected rate of return of 18% and a standard deviation of 28%. The T-bill rate is 8%.Your client chooses to invest 70% of a portfolio in your fund and 30% in a T-bill money market fund. 5+5+5 pointsa.What is the expected value and standard deviation of the rate of return on hisportfolio?b.What is the reward-to-variability ratio (S) of your risky portfolio? Your client’s?c.Draw the CAL of your portfolio on an expected return–standard deviation diagram.Whatis the slope of the CAL? Show the position of your client on your fund’s CAL. answers:a.Expected return = (0.7 * 18%) + (0.3 * 8%) = 15%Standard deviation = 0.7 * 28% = 19.6%b.c.Problem2: You manage a risky portfolio with an expected rate of return of 18% and a standard deviation of 28%. The T-bill rate is 8%.You estimate that a passive portfolio, that is, one invested in a risky portfolio that mimics the S&P 500 stock index, yields an expected rate of return of 13% with a standard deviation of 25%. 5+5 pointsa.Draw the CML and your funds’CAL on an expected return–standard deviation diagram.b.Characterize in one short paragraph the advantage of your fund over the passive fund. answers:a.S CAL=(18%-8%)/28%=.3571,S CML=(13%-8%)/25%=.2b.My fund allows an investor to achieve a higher mean for any given standard deviation than would a passive strategy, i.e., a higher expected return for any given level of risk.Problem3: You manage a risky portfolio with an expected rate of return of 18% and a standard deviation of 28%. The T-bill rate is 8%.Your client chooses to invest 70% of a portfolio in your fund and 30% in a T-bill money market fund.There is a passive portfolio,that is, one invested in a risky portfolio that mimics the S&P 500 stock index, yields an expected rate of return of 13% with a standard deviation of 25%.Your client ponders whether to switch the 70% that is invested in your fund to the passive portfolio.Explain to your client the disadvantage of the switch.10 pointsHint：given the same return or risk, we can compare the risk or return then choose the portfolio which has a lower risk or higher return.answers:With 70% of his money invested in my fund’s portfolio, the client’s expected return is15% (=8%+.7*(18%-8%))per year and standard deviation is 19.6%(=.7*28%) per year. Ifhe shifts that money to the passive portfolio (which has an expected return of 13% andstandard deviation of 25%), his overall expected return becomes:E(rC) = rf + 0.7[E(rM)-rf] = 8 + [0.7 * (13 – 8)] = 11.5%The standard deviation of the complete portfolio using the passive portfolio would be: σC = 0.7*σM = 0.7*25% = 17.5%Therefore, the shift entails a decrease in mean from 15% to 11.5% and a decrease in standard deviation from 19.6% to 17.5%. Since both mean return and standard deviation decrease, it is not yet clear whether the move is beneficial.The disadvantage of the shift is that, if the client is willing to accept a mean-return on his total portfolio of 11.5%, he can achieve it with a lower standard deviation using my fund rather than the passive portfolio.To achieve a target mean of 11.5%, we first write the mean of the complete portfolio as a function of the proportion invested in my fund (y):E(rC) = 8 + y(18- 8) = 8 + 10yOur target is: E(rC) = 11.5%. Therefore, the proportion that must be invested inmy fund is determined as follows:The standard deviation of this portfolio would be:σC = y*28% =0.35*28%=9.8%Thus, by using my portfolio, the same 11.5% expected return can be achieved with a standard deviation of only 9.8% as opposed to the standard deviation of 17.5% using the passive portfolio.Problem5(*):You manage an equity fund with an expected risk premium of 10% and an expected standard deviation of 14%. The rate on Treasury bills is 6%. Your client chooses to invest $60,000 of her portfolio in your equity fund and $40,000 in a T-bill money market fund.What is the expected return and standard deviation of return on your client’s portfolio?5+5 pointsanswers: cExpected return for equity fund = T-bill rate + risk premium = 6% + 10% = 16%Expected return of cl ient’s overall portfolio = (0.6*16%) + (0.4*6%) = 12%Standard deviation of client’s overall portfolio = 0.6*14% = 8.4%Problem6(*):What is the reward-to-variability ratio for the equity fund in problem 5?a. .71.b. 1.00.c. 1.19.d. 1.91.(group 4)answers: a。

Unit1 Reading我的奶奶之邯郸勺丸创作我的奶奶是个头发灰白的矮个子女人。

她性格开朗。

她是一个很不错的厨师。

她做的菜可能是世界上最好的！我永远不会忘记那些（菜的）味道和气味。

奶奶照顾着我的家人。

她真的很善良而有耐心。

她去世两年了，我非常想念她。

AliceAlice 是我最好的朋友。

她是一个高大的女孩，戴着眼镜。

她经常给我讲笑话逗我笑，但她从不讥笑他人。

Alice 是一个聪明的女孩。

她擅长数学。

我们经常一起学习、打乒乓球。

我希望我们永远是朋友。

李老师是我的数学老师。

他又高又瘦。

他的课总是充满了乐趣。

他在他的教学中大量地利用游戏。

李老师对我们的学习要求很严格，但他总是鼓励我们，给我们支持。

他常说："永远不要放弃，你就会成功。

"我爱我的爸爸。

他身材高大。

他有黑头发，戴着眼镜。

我的爸爸是一名医生。

每天，他去上班，帮忙生病的人。

有时候，他整天整夜都要工作，但他仍抽出时间来帮忙我学习。

每个周末，他还要踢场球。

我爸是勤劳，有耐心，又很友善。

他是一个伟大的爸爸！Unit1 More practice母亲节妈妈做了很多艰苦的工作。

她们给我们洗衣做饭。

她们还鼓励我们，给我们的支持。

母亲节是我们向我们的妈妈说"谢谢"的时候。

在大多数国家，人们在每年 5 月份的第二个星期天庆祝母亲节。

在这一天，人们喜欢为他们的妈妈买鲜花和制作特此外母亲节贺卡。

母亲节（需要的）不但仅是礼物。

我们可以帮忙我们的妈妈做家务。

我们可以带他们到公园或电影院。

有时候，一个简单的拥抱，或说"我爱你，妈妈"就是我们的妈妈们的完美礼物了。

母亲节是关于爱。

如果你爱你的妈妈，为什么不安插一个特此外母亲节给她呢？Unit1 Culture corner中间名在许多西方国家，人们拥有名字（特定的名字）和姓氏（家族姓氏）。

很多人经常还有中间名。

父母给孩子们（起个）中间的名字，以铭记某个他们家族中的，或对他们很重要的人。

习思英语7级考试习套题TestFive Part I: Listening Comprehension (30 points)1. Directions: In this section, you will hear 10 short conversations. At the end of each conversation, a question will be asked about what was said. Both the conversation and the question will be spoken only once. After each question there will be a pause. During the pause, you must read the four choices marked A), B), C) and D), and decide which is the best answer. Then mark the corresponding letter on Answer Sheet 1 with a single line through the centre.2. Example:You will hear:W: Are you catching the 12:15 flight to New York?M: No, I'll leave this evening.Q: What are the two speakers talking about?You will read:A) New York City.B) An evening party.C) An air trip.D) The man's job.From the conversation, we know that the two speakers are talking about an air trip. Therefore, C) An air trip is thecorrect answer. You should mark C) on Answer Sheet 1 with a single line through the centre.3. Now let's begin with the first conversation.4. Directions: In this section, you will hear 3 short passages. At the end of each passage, you will hear some questions. Both the passage and the questions will be spoken only once. After you hear a question, you must choose thebest answer from the four choices marked A), B), C) and D). Then mark the corresponding letter on Answer Sheet 1 with a single line through the centre.5. Passage 1:6. Directions: In this section, you will hear a long conversation. At the end of the conversation, you will hear some questions. Both the conversation and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A), B), C) and D). Then mark the corresponding letter on Answer Sheet 1 with a single line through the centre.7. Long Conversation 1:8. Directions: In this section, you will hear a long passage. At the end of the passage, you will hear some questions. Both the passage and the questions will be spoken only once. After you hear a question, you must choose thebest answer from the four choices marked A), B), C) and D).Then mark the corresponding letter on Answer Sheet 1 with a single line through the centre.9. Long Passage 1:Part II: Reading Comprehension (40 points)10. Directions: In this section, there is a passage with ten blanks. You are required to select one word for eachblank from a list of choices given in a word bank followingthe passage. Read the passage through carefully before making your choices. Each choice in the bank is identified a letter. Please mark the corresponding letter for each item on Answer Sheet 2 with a single line through the centre. You may notuse any of the words in the bank more than once.11. Passage 1:12. Directions: In this section, you are going to read a passage with ten statements attached to it. Each statement contains information given in one of the paragraphs. Identify the paragraph from which the information is derived. You may choose a paragraph more than once. Each paragraph is marked with a letter. Answer the questions marking thecorresponding letter on Answer Sheet 2.13. Passage 2:15. Passage 3:Part III: Vocabulary and Grammar (30 points)17. Example:It is generally believed that teaching isA) a science as well as an artB) an art as well as a scienceC) neither a science nor an artD) both a science and an art18. Now let's begin with the first question.19. Directions: Each of the following sentences has four underlined parts marked A), B), C) and D). Identify the part of the sentence that is incorrect and mark your answer on Answer Sheet 2 with a single line through the centre.20. Example:A number of foreign visitors were taken to the industrial exhibition, which they saw many new products.21. Now let's begin with the first question.22. Directions: Complete the following passage using the words in the box. Each word can only be used once. Note that there is one extra word in the box.23. Passage 4:24. Directions: Complete the following passage translating the Chinese into English.25. Passage 5:Part IV: Translation (20 points)26. Directions: For this part, you are allowed 30 minutes to translate a passage from Chinese into English. You should write your answer on Answer Sheet 2.27. Passage 6:Part V: Writing (30 points)28. Directions: For this part, you are allowed 30 minutes to write a short essay. You should write at least 150 words following the outline given below. Write your essay on Answer Sheet 2.29. Topic:30. Outline:31. Your essay should include the points given in the outline. You may discuss the topic in terms of your own experiences, observations, or opinions.32. You should write neatly on Answer Sheet 2.习思英语7级考试习套题TestFivePart II: Reading Comprehension (40 points)11. Passage 1:12. Passage 2:13. Passage 3:Part III: Vocabulary and Grammar (30 points)17. Example:It is generally believed that teaching isA) a science as well as an artB) an art as well as a scienceC) neither a science nor an artD) both a science and an art18. Now let's begin with the first question.19. Directions: Each of the following sentences has four underlined parts marked A), B), C) and D). Identify the part of the sentence that is incorrect and mark your answer on Answer Sheet 2 with a single line through the centre.20. Example:A number of foreign visitors were taken to the industrial exhibition, which they saw many new products.21. Now let's begin with the first question.22. Directions: Complete the following passage using the words in the box. Each word can only be used once. Note that there is one extra word in the box.23. Passage 4:In today's fastpaced world, it is important to find ways to (24) _______ stress and maintain a healthy lifestyle. One effective method is to engage in regular physical exercise. Exercise not only helps to (25) _______ physical fitness but also promotes mental wellbeing. It releases endorphins, which are known as "feelgood" hormones, and can improve mood and reduce anxiety. Additionally, exercise can provide a (26)_______ from the pressures of daily life, allowingindividuals to focus on their own wellbeing. Furthermore, finding a hob or (27) _______ activity can also be beneficial. Engaging in activities that one enjoys can provide a sense of fulfillment and help to reduce stress. It is important to (28) _______ time for these activities and make them a priority in one's schedule. By taking proactive steps to manage stressand prioritize selfcare, individuals can lead happier and healthier lives.24. Directions: Complete the following passagetranslating the Chinese into English.25. Passage 5:Part IV: Translation (20 points)26. Directions: For this part, you are allowed 30 minutes to translate a passage from Chinese into English. You should write your answer on Answer Sheet 2.27. Passage 6:随着全球化的深入发展，文化交流变得越来越重要。

Study Questions for English Public SpeakingChapter7 Organizing the Body of SpeechTrue-False Questions1.T F Clear organization is usually less important in speaking than in writing.2.T F Audiences find well-organized speakers to be more credible than poorlyorganized speakers.3.T F Research suggests that using a clear, specific method of speech organizationcan enhance your ability to deliver a speech fluently.4.T F The introduction of a speech usually should be prepared before the body.5.T F According to your textbook, it is usually best to prepare the body of thespeech before the introduction.6.T F Most speeches should contain from two to five main points.7.T F According to your textbook, most speeches should contain from five to eightmain points.8.T F If a speech is 45 minutes long, an audience can be expected to keep track ofas many as a dozen main points.9.T F The time given to each main point in the body of a speech should be exactlythe same.10.T F When developing a speech, you should try to roughly balance the amountof time devoted to each main point.11.T F The most effective order for the main points of a speech depends uponthe topic, the specific purpose, and the audience.12.T F Chronological organization is used primarily for informative speeches.13.T F Problem-solution order is used most often in persuasive speeches.14.T F Speeches arranged in problem-solution order are divided into four mainparts.15.T F In topical order the main points proceed from top to bottom, left to right,front to back, east to west, or some similar route.16.T F When arranged in topical order, the main points of a speech usuallyfollow a time sequence.17.T F Speeches arranged in spatial order follow a time sequence.18.T F Speeches arranged in chronological order follow a time pattern.19.T F Although using a consistent pattern of wording for main points iscommon practice among writers, it is less important in public speaking.20.T F Unlike writers, good speakers seldom use connectives between mainpoints.21.T F Transitions state both the idea the speaker is leaving and the one thespeaker is coming to.22.T F “Now that we have explored the problem, let’s turn to the solution” is anexample of an internal preview.23.T F According to your textbook, the following statement is an example of atransition: “So much for the present; now let’s turn our attention to thefuture.”24.T F According to your textbook, the following statement is an example of aninternal summary: “So much for the present; what about the future?”25.T F According to your textbook, an internal summary must be used afterevery main point in a speech.26.T F A public speaker should avoid using transitions and internal summariestogether.27.T F “The most important point to remember about . . .” is an example of asignpost.28.T F “Above all, you need to know . . .” is an example of a signpost. Multiple Choice Questions(Students are to indicate the best answer for eachquestion by circling the correct letter.)33. According to your textbook, how well a speech is organized likely will influencea. how clearly the audience understands the speech.b. how the audience views the competence of the speaker.c. how confident the speaker feels about his or her delivery.* d. all of the above.e. a and b only.34. The is the longest and most important part of thespeech.* a. bodyb. blueprintc. introductiond. conclusione. frame35. According to your textbook, what is the most important reason for limiting thenumber of main points in a speech?a. It is hard to maintain parallel wording if there are too many main points.b. It is hard to phrase the central idea if a speech has too many main points.c. It is hard to organize supporting materials if there are too many main points.d. It is hard to deliver a speech extemporaneously if it has too many mainpoints.* e. It is hard for the audience to keep track of too many main points.36. The most effective order of main points in a speech depends above all on yourtopic, purpose, and* a. audience.b. research.c. visual aids.d. credibility.e. delivery.37. Which organizational pattern would probably be most effective for arranging themain points of a speech with the specific purpose “To inform my audience how to start an online business”?a. spatialb. technicalc. causald. comparative-advantages* e. chronological38. What organizational pattern would probably be most effective for arranging themain points of a speech with the specific purpose “To inform my audience aboutthree major ways to block junk mail from their e-mail system”?* a. topicalb. logisticalc. chronologicald. technicale. causal40. Which organizational pattern would probably be most effective for arranging themain points of a speech with the specific purpose, “To inform my audience howto set up an online banking system to pay your bills”?* a. chronologicalb. problem-solutionc. spatiald. causale. comparative-advantage41. Which organizational pattern would probably be most effective for arranging themai n points of a speech with the specific purpose “To persuade my audience tosupport stricter drug testing for Olympic athletes”?a. chronological* b. problem-solutionc. thematicd. spatiale. causal42. Here are the main points for a speech about the major steps involved in asuccessful job interview:I. The first step is preparing for the interview before it takes place.II. The second step is presenting yourself well during the interview itself.III. The third step is following up after the interview.These main points are arranged in order.a. topicalb. spatial* c. chronologicald. informativee. causal43. Here are the main points for an informative speech about the history of chocolate:I. Chocolate was originally used in Mexico as a drink by the Aztecs.II. Chocolate was introduced to Europe after the Spanish conquered the Aztecs.III. Chocolate was first made into candy during the 1800s.IV. Chocolate’s popularity and uses continue to expand today.These main points are arranged in order.a. causalb. analyticalc. descriptive* d. chronologicale. spatial44. Which organizational pattern would be most effective for arranging the mainpoints of a speech with the specific purpose “To inform my audience about themajor steps in setting up a home aquarium”?* a. chronologicalb. causalc. problem-solutiond. informativee. Monroe’s motivated sequence45. When main ideas follow a directional pattern, they are organized ina. geographical order.b. topical order.* c. spatial order.d. causal order.e. chronological order.46. Which organizational pattern would probably be most effective for arranging themain points of a speech with the central idea “There are five b asic positions of thefeet in ballet”?a. visualb. chronologicalc. problem-solutiond. causal* e. topical47. What organizational pattern would probably be most effective for arranging themain points of a speech with the central idea “Estate taxe s should be retainedbecause they preserve opportunity for all, because their elimination wouldincrease the national deficit, and because they are consistent with Americanvalues of fairness and justice”?a. causalb. formalc. problem-solution* d. topicale. economic48. Which organizational pattern would probably be most effective for arranging themain points of a speech with the specific purpose “To inform my audience about the major geographical regions of Mexico?”a. causalb. chronologicalc. topicald. problem-solution* e. spatial49. Jackson had been a rodeo fan since childhood. In his informative speech, he gavea presentation with the following main points. Jackson’s points were arranged inorder.I. Rodeos began in the Old West as contests of skill among cowboysduring cattle roundups.II. By 1920 rodeos had become a popular spectator sport for the general public.III. Today rodeos combine traditional western events with a circuslikeatmosphere and the marketing techniques of big business.a. topicalb. formal* c. chronologicald. analyticale. spatial50. Which organizational method is used in a speech with the following main points?I. Many citizens are victimized every year by incompetent lawyers.II. A bill requiring lawyers to stand for recertification every 10 years will do much to help solve the problem.a. legalb. topicalc. chronological* d. problem-solutione. analytical51. Which organizational method is used in a speech with the following main points?I. The outermost section of the Egyptian burial tomb was the entrancepassage.II. The next section of the Egyptian burial tomb was the antechamber.III. The third section of the Egyptian burial tomb was the treasury.IV. The innermost section of the Egyptian burial tomb was the burialchamber.* a. spatialb. logicalc. chronologicald. progressivee. descriptive53. Here are the main points for a speech about the impact of global warming:I. Global warming has had a major impact in North America.II. Global warming has had a major impact in South America.III. Global warming has had a major impact in Europe.IV. Global warming has had a major impact in Asia.V. Global warming has had a major impact in Africa.These main points are arranged in order.a. directional* b. spatialc. chronologicald. causale. problem-solution54. Which organizational method is used in a speech with the following main points?I. As a social worker, Jane Addams founded the settlement housemovement in Chicago.II. As a reformer, Jane Addams campaigned for child-labor laws,unemploy-ment compensation, and better public sanitation.III. As a suffragist, Jane Addams fought to give women the vote.IV. As a writer, Jane Addams is best known for her autobiographicalTwenty Years at Hull House.* a. topicalb. spatialc. chronologicald. descriptivee. formal55. Here are the main points for an informative speech about the major categories ofdog breeds:I. The working dogs do rescue, police, herding, and guide jobs.II. The hound dogs are hunters that specialize in small animals.III. The terrier dogs make good watchdogs.V. The toy dogs are primarily house pets.These points are organized in ____________________ order.a. spatialb. descriptivec. chronologicald. illustrative* e. topical56. Which of the following organizational patterns is used more than any othermethod of speech organization because of its applicability to almost any subject?a. chronologicalb. spatialc. problem-solution* d. topicale. causal57. Which organizational pattern is reflected in a speech with the following the mainpoints?I. Soda lime glass is used in almost all ordinary glass products.II. Lead crystal glass is used mostly for luxury glass products.III. Heat resistant glass is used for cooking and scientific products.a. causalb. informativec. chronological* d. topicale. descriptive58. Which organizational pattern would probably be most effective for arranging themain points of a speech with the specific purpose “To inform my audience about the three major kinds of drone aircraft used by the U.S. military”?a. analytical* b. topicalc. causald. spatiale. chronological59. A speech about the equipment used in the sport of ice hockey should probablyuse a(n) organizational pattern.a. analogicalb. chronological* c. topicald. problem-solutione. causal60. Which organizational pattern would probably be most effective for arranging themain points of a speech with the specific purpose “To inform my audience of the four factors that make a classic car collectible”?a. analogicalb. spatialc. problem-solution* d. topicale. causal61. A speech with th e specific purpose “To inform my audience of the four majorfactors to consider when choosing a cell-phone plan” would most likely bearranged in _________________ order.a. causalb. chronologicalc. problem-solutiond. objective* e. topical62. A s peech with the specific purpose “To inform my audience how to take pictureslike a professional” would most likely be arranged inorder.a. causal or chronologicalb. topical or causalc. spatial or topicald. chronological or spatial* e. topical or chronological63. A speech with the specific purpose “To inform my audience of the major featuresof the Empire State Building” would most likely be organized inorder.a. chronological or spatialb. causal or topical* c. topical or spatiald. chronological or causale. causal or spatial66. Problem-solution order is most appropriate for organizingspeeches.a. acceptance* b. persuasivec. after-dinnerd. commemorativee. informative67. Here are the main points for a speech about the components of a medieval coat ofarmor.I. The head was protected by a helmet.II. The torso was protected by shoulder pieces, palates, a breastplate, a skirt of tasses, and a tuille.III. The arms and hands were protected by brassards, elbow pieces, and gauntlets.IV. The legs and feet were protected by cuisses, knee pieces, jambeaux, and sollerets.These main points are arranged in order.a. topicalb. informativec. chronologicald. structural* e. spatial68. Which organizational method is used in a speech with the following main points?I. Disposable batteries have become one of America’s most seriousenvironmental problems.II. The problem can be solved by a combination of business, government, and individual action.a. causalb. topicalc. chronological* d. problem-solutione. symbolic69. If the following transition were used in a persuasive speech, the speech wouldmost likely be organized in order:Now that I’ve told you about declining voter involvement inthis country, let’s look at what we can do about it.a. causalb. spatialc. comparative-advantages* d. problem-solutione. topical70. Here are the main points for a persuasive speech on adult illiteracy.I. Adult illiteracy has reached crisis proportions in the United States.II. Solving the problem will require continued action by government and individual citizens alike.These main points are arranged in order.a. spatialb. topical* c. problem-solutiond. comparative-advantagee. causal71. A soccer player herself, Jenine is very concerned about the growing number ofserious injuries at all levels of the sport. When the time came for her persuasive speech, she presented a speech with the following main points:I. In the past ten years serious soccer injuries have risen dramaticallyamong players of all ages and skill levels.II. The best way to control this problem is through changes in rules and training.Jenine’s main points were arranged in order.* a. problem-solutionb. chronologicalc. problem-cause-solutiond. topicale. motivated sequence72. If the following connective were used between the last two main points in aninformative speech, the speech would most likely be organized inorder.So far we have seen that the earliest roller coasters weredeveloped in Russia and by the mid-1920s were very popularthroughout the United States. Today, U.S. amusement parksattract millions of visitors because of their adventurous rollercoasters. Let's take a look now at what the future holds forroller coasters.a. spatial* b. chronologicalc. analyticald. formale. topical73. If the following internal summary were used in an informative speech, the speechwould most likely be organized inorder.On our tour of campus thus far, we have moved from thestudent union on the east side of campus and around theperimeter. We’ve taken in the engineering campus on the north,the design college on the west side, and the school of educationon the south.a. causalb. formalc. analytical* d. spatiale. topical74. Words or phrases that indicate when a speaker has completed one thought and ismoving on to another are calleda. transfers.b. internal summaries.c. speech bridges.* d. transitions.e. signposts.75. “Now that we have seen the causes of unrest in central Afri ca, we shall turn totheir effects . . .” is an example of a(n)a. internal preview.* b. transition.c. internal summary.d. signpost.e. main point.76. After discussing the first main point in his speech on sustainable agriculture,Rasheed said:So far, I have explained the problems associated with ourpresent agricultural system. Next, I will explain whatsustainable agricul-ture is and why it is vastly superior to thecurrent system.According to your textbook, what type(s) of connective(s) did Rasheed use?a. bridgeb. internal summary* c. transitiond. all of the abovee. b and c only77. After discussing the first main point of her speech on the exploration of Mars,Jeanne said:Let’s take a moment to recap. To this point we have seen th atscientists have made important discoveries about the terrain ofMars, including its channels, basins, and polar caps. Now let’smove on from the terrain of Mars and look at the planet’satmosphere.According to your textbook, what type(s) of connective(s) did Jeanne use?a. internal summaryb. transitionc. bridged. all of the above* e. a and b only78. According to your textbook, if the following statement occurred in the body of aspeech, it would be an example of what kind of connective?In order to get a better understanding of how the proposedcopper mine will harm the environment, we shall consider itseffects on the land, its effects on the water, and its effects onwildlife.a. signpost* b. internal previewc. transitiond. internal summarye. bridge79. According to your textbook, if the following statement occurred in the body of aspeech, it would be an example of what kind of connective?Now that we have learned about the history of Mormonism,let’s consider its major beliefs.a. markerb. signpost* c. transitiond. bridgee. link80. According to your textbook, if the following statement occurred in the body of aspeech, it would be an example of what kind of connective?In addition to helping people in need, working as a hospitalvolunteer provides you with valuable job experience.a. linkb. signpostc. marker* d. transitione. bridge81. According to your textbook, if the following statement occurred in the body of aspeech, it would be an example of what kind of connective?We have spent a lot of time talking about the problem ofcomputer viruses. Now let’s look at some solutions.* a. transitionb. internal previewc. internal summaryd. all of the abovee. a and c only82. According to your textbook, if the following statement occurred in the body of thespeech, it would be an example of what kind of connective?Let’s pause for a moment to see what we have found thus far.First we have seen that America’s criminal justice system doesnot effectively deter crime. Second we have seen that prisonprograms to rehabilitate criminals have failed.* a. internal summaryb. transitionc. bridged. internal previewe. enumeration83. While working on the body of your speech, you see the need to let the audienceknow what the upcoming subpoints will be. You decide to add a(n)a. transition.* b. internal preview.c. organizational bridge.d. internal summary.e. structural link.84. According to your textbook, if the following statement occurred in the body of aspeech, it would be an example of what kind of connective?In discussing the problem of childhood asthma, we shall look atthe symptoms of the disease, its causes, and current treatments.a. signpost* b. internal previewc. transitiond. internal summarye. bridge85. According to your textbook, brief statements that help listeners follow your ideasby indicating exactly where you are in the speech are calleda. markers.* b. signposts.c. transitions.d. bridges.e. links.86. According to your textbook, “My second point is . . .” is an example of a(n)a. transition.b. bridge* c. signpost.d. enumeration.e. marker.Essay Questions109. Describe and give an example of each of the following methods of speech organization:a. chronologicalb. spatialc. topicald. problem-solution。

新编英语教程Unit7答案Paraphrase：Explain the following in your own words.(WB.P.96-98 Part B)1. I found myself on varied assignments, all the way from ship news to sports reporting.I found I was given different kinds of assignments, ranging in variety from ship news to sports reporting.2. There was nothing spectacular in Mr. Jacobs’ manner or appearance: but when he spoke about prizefights, he was no longer a bland man but a colossus ...The re was nothing in Mr. Jacobs’ appearance and manner that would attract public attention, but when he talked about prizefights, he was not ordinary any more, he looked like a giant ...3. You knew you were listening to Number One.You knew you were listening to the most authoritative prizefight promoter.4. So far as he was concerned, there was no mystery to it.He saw nothing mysterious in boxing.5. he ... went down, was counted out, and never came out of the coma.he ... fell to the floor, didn’t stand up when the referee counted the seconds from one to ten, and never regained consciousness.6. The Paret fight produced a flurry of investigations.The Paret fight resulted in a great deal of fervent public interest and several investigations.7. One question that was solemnly studied in all three probes concerned the action of the referee. After careful investigationand thorough and serious examination by the three organizations, one question was found to be of common concern — the action of the referee.8. No crowd was ever brought to its feet screaming and cheering at the sight of two men beautifully dodging and weaving out of each other’s jabs.When the crowd saw two boxers exquisitely move from side to side to avoid the opponent’s quick straight punch to the head, nobody would stand up, crying out in a shrill voice and shouting in great joy.9. The time the crowd comes alive is when a man is hit hard over the heart or the head, when his mouthpiece flies out, when blood squirts out of his nose or eyes, when he wobbles under the attack and his pursuer continues to smash at him with poleax impact.The time when the crowd is brought to a cheerful and excited mood is when a boxer receives hard blows over his heart and head, when his gumshield falls out, when blood gushes out from his nose or eyes, when he moves unsteadily from side to side under the attack, and his opponent chases him and goes on with his heavy blows and hard punches with the force of a poleax.10. Put the blame where it belongs —on the prevailing mores that regard prizefighting as a perfectly proper enterprise and vehicle of entertainment.Say where the responsibility really lies —it lies in the dominant and controlling social customs and standards that look upon prizefighting as a completely suitible means of making money and form of amusement.。

Practice Questions and Answers from Lesson I-7: ElasticityThe following questions practice these skills:✓Use the midpoint method for calculating percent change.✓Compute price elasticity of demand.✓Identify elastic and inelastic demand according to the price elasticity of demand.✓For elastic demand, apply the negative relation between price and revenue.✓For inelastic demand, apply the positive relation between price and revenue.✓Remember demand is more elastic when there are more substitutes or closer substitutes.✓Compute the price elasticity of supply.✓Compute cross-price elasticities of demand.✓Relate cross-price elasticities of demand to gross substitutes and gross complements.✓Identify elastic and inelastic portions of a linear demand curve.✓Compute income elasticity of demand.Question: , the online bookseller, wants to increase its total revenue. One strategy is to offer a 10% discount on every book it sells. knows that its customers can be divided into two distinct groups according to their likely responses to the discount. The accompanying table shows how the two groups respond to the discount.a. Using the midpoint method, calculate the price elasticities of demand for group A and group B.b. Explain how the discount will affect total revenue from each group.c. Suppose knows which group each customer belongs to when he logs on and can choose whether or not to offer the 10% discount. If wants to increase its total revenue, should discounts be offered to group A or to group B, to neither group, or to both groups?Answer to Question:a. Using the midpoint method, the percent change in the quantity demanded by group A is1.65 million - 1.55 million 0.1 million−−−−−−−−−−−−−−−−−−−−−−−− x100 = −−−−−−−−− x 100 = 6.25%(1.55 million + 1.65 million)/2 1.6 millionand since the change in price is 10%, the price elasticity of demand for group A is6.25%/10% = 0.625Using the midpoint method, the percent change in the quantity demanded bygroup B is1.7 million - 1.5 million 0.2 million−−−−−−−−−−−−−−−−−−−−−−−− x100 = −−−−−−−−− x 100 = 12.5%(1.5 million + 1.7 million)/2 1.6 millionand since the change in price is 10%, the price elasticity of demand for group B is12.5%/10% = 1.25b. For group A, since the price elasticity of demand is 0.625 (demand is inelastic), total revenue will decrease as a result of the discount. For group B, since the price elasticity of demand is 1.25 (demand is elastic), total revenue will increase as a result of the discount.c. If wants to increase total revenue, it should definitely not offer the discount to group A and it should definitely offer the discount to group B.Question: Do you think the price elasticity of demand for Ford sport-utility vehicles (SUVs) will increase, decrease, or remain the same when each of the following events occurs? Explain your answer.a. Other car manufacturers, such as General Motors, decide to make and sell SUVs.b. SUVs produced in foreign countries are banned from the American market.c. Due to ad campaigns, Americans believe that SUVs are much safer than ordinary passenger cars.d. The time period over which you measure the elasticity lengthens. During that longer time, new models such as four-wheel-drive cargo vans appear.Answer to Question:a. The price elasticity of demand for Ford SUVs will increase because more substitutes are available.b. The price elasticity of demand for Ford SUVs will decrease because fewer substitutes are available.c. The price elasticity of demand for Ford SUVs will decrease because other cars are viewed as less of a substitute.d. The price elasticity of demand for Ford SUVs will increase over time because more substitutes (such as four-wheel-drive cargo vans) become available.Question: The accompanying table gives part of the supply schedule for personal computers in thea. Calculate the price elasticity of supply when the price increases from $900 to $1,100 using the midpoint method.b. Suppose firms produce 1,000 more computers at any given price due to improved technology. As price increases from $900 to $1,100, is the price elasticity of supply now greater than, less than, or the same as it was in part a?c. Suppose a longer time period under consideration means that the quantity supplied at any given price is 20% higher than the figures given in the table. As price increases from $900 to $1,100, is the price elasticity of supply now greater than, less than, or the same as it was in part a?Answer to Question:a. Using the midpoint method, the percent change in the quantity supplied is12,000 – 8,000 4,000−−−−−−−−−−−−−−−−−− x100 = −−−−−−−− x 100 = 40%(12,000 + 8,000)/2 10,000and the percent change in the price is$1,100 - $900 $200−−−−−−−−−−−−−−−− x100 = −−−−−−− x 100 = 20%($1,100 + $900)/2 $1,000The price elasticity of supply is therefore40%/20% = 2b. The elasticity estimate would be lower. A price change from $900 to $1,100 is a 20% price change, just as calculated in part a. Previously, when the quantity supplied changed from 8,000 to 12,000, that was a 40% change in the quantity supplied. Now that the quantity supplied at each price is higher by 1,000, the same price change would imply a change in the quantity supplied from 9,000 to 13,000, which is a 36% change using the midpoint method. The new price elasticity of supply is 36%/20% = 1.8, which is lower than in part a.c. The elasticity estimate would be unchanged. The price increase from $900 to $1,100 is a 20% increase, just as calculated in part a. But now that all quantities are 20% higher, the quantity supplied increases from 9,600 to 14,400. Using the midpoint method, this is an increase of 14,400 – 9,600 4,800−−−−−−−−−−−−−−−−−− x100 = −−−−−−−− x 100 = 40%(14,400 + 9,600)/2 12,000so that the price elasticity of supply is40%/20% = 2Therefore the price elasticity of supply is the same as in part a.Question: The accompanying table lists the cross-price elasticities of demand for several goods, where the percent quantity change is measured for the first good of the pair, and the percent pricechange is measured for the second good.a. Explain the sign of each of the cross-price elasticities. What does it imply about the relationship between the two goods in question?b. Compare the absolute values of the cross-price elasticities and explain their magnitudes. For example, why is the cross-price elasticity of McDonald’s burgers and Burger King burgers less than the cross-price elasticity of butter and margarine?c. Use the information in the table to calculate how a 5% increase in the price of Pepsi affects the quantity of Coke demanded.d. Use the information in the table to calculate how a 10% decrease in the price of gasoline affects the quantity of SUVs demanded.Answer to Question:a. A negative cross-price elasticity of demand implies that the two goods are gross complements. So air-conditioning units and kilowatts of electricity are gross complements, as are sport-utility vehicles and gasoline. A positive cross-price elasticity of demand implies that the two goods are gross substitutes. So Coke and Pepsi are gross substitutes, as are McDonald’s and Burger King burgers as well as butter and margarine.b. The larger (and positive) the cross-price elasticity of demand is, the more closely the two goods are gross substitutes. Since the cross-price elasticity of butter and margarine is larger than the cross-price elasticity of McDonald’s burgers and Burger King burgers, butter and margarine are closer gross substitutes than are McDonald’s and Burger King burgers. Similarly, the greater (and negative) the cross-price elasticity of demand is, the more strongly the two goods are gross complements.c. A cross-price elasticity of 0.63 implies that a 1% increase in the price of Pepsi would increase the quantity of Coke demanded by 0.63%. Therefore, a 5% increase in the price of Pepsi would increase the quantity of Coke demanded by five times as much, that is, by 5 × 0.63% = 3.15%.d. A cross-price elasticity of −0.28 implies that a 1% fall in the price of gasoline would increase the quantity of SUVs demanded by 0.28%. Therefore, a 10% fall in the price of gasoline would increase the quantity of SUVs demanded by 10 times as much, that is, by 10 × 0.28% = 2.8%.Question: What can you conclude about the price elasticity of demand in each of the following statements?a. “The pizza delivery business in this town is very competitive. I’d lose half my customers if I raised the price by as little as 10%.”b. “I owned both of the two Jerry Garcia autographed lithographs in existence. I sold one on eBay for a high price. But when I sold the second one, the price dropped by 80%.”c. “My economics professor has chosen to use the Krugman/Wells textbook for this class. I have nochoice but to buy this book.”d. “I always spend a total of exactly $10 per week on coffee.”Answer to Question:a. This statement says that a 10% increase in price reduces the quantity demanded by 50%. That is, the price elasticity of demand is-50%/10% = -5So demand is elastic.b. The fact that it was necessary for price to drop by 80% in order to sell one more unit (an increase in quantity of 67%, using the midpoint method) indicates that the demand for Jerry Garcia autographed lithographs is inelastic.c. There is no substitute available, so demand is inelastic. (Although, over time, as more used Krugman/Wells textbooks become available, the price elasticity of demand will increase.)d. Demand is unit-elastic: no matter what the price of coffee is, the total revenue to the producer (which is my total expenditure on coffee) remains the same.Question: The accompanying table shows the price and yearly quantity sold of souvenir T-shirts in the town of Crystal Lake according to the average income of the tourists visiting.from $5 to $6 and the average tourist income is $20,000. Also calculate it when the average tourist income is $30,000.b. Using the midpoint method, calculate the income elasticity of demand when the price of a T-shirt is $4 and the average tourist income increases from $20,000 to $30,000. Also calculate it when the price is $7.Answer to Question:a. Suppose the average tourist income is $20,000. Using the midpoint method, the percent change in the quantity demanded is1,600 – 2,400 -800−−−−−−−−−−−−−−−−−− x100 = −−−−−−− x 100 = -40%(1,600 + 2,400)/2 2,000and the percent change in the price is$6 - $5 $1−−−−−−−−−−− x100 = −−−−− x 100 = 18.2%($6 + $5)/2 $5.5The price elasticity of demand is therefore40%/18.2% = 2.2Now suppose the average tourist income is $30,000. The percent change in the quantity demanded is3,000 – 4,200 -1,200−−−−−−−−−−−−−−−−−− x100 = −−−−−−− x 100 = -33.3%(3,000 + 4,200)/2 3,600and the percent change in the price is$6 - $5 $1−−−−−−−−−−− x100 = −−−−− x 100 = 18.2%($6 + $5)/2 $5.5The price elasticity of demand is therefore33.3%/18.2% = 1.8b. Suppose the price of a T-shirt is $4. Using the midpoint method, the percent change in the quantity demanded is5,000 – 3,000 2,000−−−−−−−−−−−−−−−−−− x100 = −−−−−−− x 100 = 50%(5,000 + 3,000)/2 4,000and the percent change in income is$30,000 - $20,000 $10,000−−−−−−−−−−−−−−−−−−−− x100 = −−−−−−−− x 100 = 40%($30,000 + $20,000)/2 $25,000The income elasticity of demand is therefore50%/40% = 1.25Now suppose the price of a T-shirt is $7. Using the midpoint method, the percent change in the quantity demanded is1,800 – 800 1,000−−−−−−−−−−−−−−−− x100 = −−−−−−− x 100 = 76.9%(1,800 + 800)/2 1,300and the percent change in income is, as before,$30,000 - $20,000 $10,000−−−−−−−−−−−−−−−−−−−− x100 = −−−−−−−− x 100 = 40%($30,000 + $20,000)/2 $25,000The income elasticity of demand is therefore76.9%/40% = 1.9Question: In each of the following cases, do you think the price elasticity of supply is(i) perfectly elastic; (ii) perfectly inelastic; (iii) elastic, but not perfectly elastic; or(iv) inelastic, but not perfectly inelastic? Explain using a diagram.a. An increase in demand this summer for luxury cruises leads to a huge jump in the sales price of a cabin on the Queen Mary 2.b. The price of a kilowatt of electricity is the same during periods of high electricity demand as during periods of low electricity demand.c. Fewer people want to fly during February than during any other month. The airlines cancel about 10% of their flights as ticket prices fall about 20% during this month.d. Owners of vacation homes in Maine rent them out during the summer. Due to the soft economy this year, a 30% decline in the price of a vacation rental leads more than half of homeowners to occupy their vacation homes themselves during the summer.Answer to Question:a. Supply is perfectly inelastic: the quantity of cabins on the Queen Mary 2 is fixed. As demand increases (a rightward shift in the demand curve), the price of a cabin on the Queen Mary 2 increases, without an increase in the quantity supplied. See the accompanying diagram.b. Supply is perfectly elastic. As demand changes (for instance, as demand increases in times of high electricity demand), price does not change but the quantity supplied does change.c. Supply is inelastic. As price falls by 20%, the quantity supplied falls by 10%. This implies a price elasticity of supply of10%/20% = 0.5which is inelastic. See the accompanying diagram.d. Supply is elastic. As price falls by 30%, the quantity supplied falls by more than 50%. This implies a price elasticity of supply greater than50%/30% = 1.7.See the accompanying diagram.Question: Taiwan is a major world supplier of semiconductor chips. A recent earthquake severely damaged the production facilities of Taiwanese chip-producing companies, sharply reducing the amount of chips they could produce.a. Assume that the total revenue of a typical non-Taiwanese chip manufacturer rises due to these events. In terms of an elasticity, what must be true for this to happen? Illustrate the change in total revenue with a diagram, indicating the price effect and the quantity effect of the Taiwan earthquake on this company’s total revenue.b. Now assume that the total revenue of a typical non-Taiwanese chip manufacturer falls due to these events. In terms of an elasticity, what must be true for this to happen? Illustrate the change in total revenue with a diagram, indicating the price effect and the quantity effect of the Taiwan earthquake on this company’s total revenue.Answer to Question:a. If the increase in price results in an increase in total revenue, then the price effect (which tends to increase total revenue) must outweigh the quantity effect (which tends to reduce total revenue). That is, demand must have been inelastic. In the accompanying diagram, as supply shifted leftward from Sto1 , the fall in total revenue due to the quantity effect (area A) is outweighed by the gain in total revenue S2due to the price effect (area B).b. If the increase in price results in a fall in total revenue, then the quantity effect (which tends to reduce total revenue) must outweigh the price effect (which tends to increase total revenue). That is, demandmust have been elastic. In the accompanying diagram, as supply shifted leftward from S1 to S2, totalrevenue falls by the amount of the quantity effect (area A) but rises by the amount of the price effect (area B). The quantity effect (area A) is larger than the price effect (area B) so total revenue declines.Question: There is a debate about whether sterile hypodermic needles should be passed out free of charge in cities with high drug use. Proponents argue that doing so will reduce the incidence of diseases, such as HIV/AIDS, that are often spread by needle sharing among drug users. Opponents believe that doing so will encourage more drug use by reducing the risks of this behavior. As an economist asked to assess the policy, you must know the following: (i) how responsive the spread of diseases like HIV/AIDS is to the price of sterile needles and (ii) how responsive drug use is to the price of sterile needles. Assuming that you know these two things, use the concepts of price elasticity of demand for sterile needles and the cross-price elasticity between drugs and sterile needles to answer the following questions.a. In what circumstances do you believe this is a beneficial policy?b. In what circumstances do you believe this is a bad policy?Answer to Question:a. Handing out free needles lowers the price of needles to zero. First consider thedemand for needles. The higher the price elasticity of demand for sterile needles, the greater the increase in the quantity of sterile needles demanded in response to a decrease in the price. And the greater the increase in the quantity of sterile needles demanded, the lower the spread of diseases like HIV/AIDS. Now consider the demand for drugs. Drugs and sterile needles are gross gross complements: as the price of sterile needles falls, the demand for drugs increases. This implies that the cross-price elasticity of demand between drugs and sterile needles is negative. The less negative (the closer to zero) the cross-price elasticity of demand between drugs and sterile needles, the lessresponsive is the demand for drugs to the price of sterile needles. So the policy would be beneficial if the price elasticity of demand for sterile needles is high (elastic) and the cross-price elasticity of demand between drugs and sterile needles is negative and low (close to zero, that is, weakly complementary).b. Similar reasoning as in part a implies that the policy would be a bad idea if the price elasticity of demand for sterile needles is low (inelastic) and the cross-price elasticity of demand between drugs and sterile needles is high and negative (strongly complementary).Question: Worldwide, the average coffee grower has increased the amount of acreage under cul-tivation over the past few years. The result has been that the average coffee plantation produces significantly more coffee than it did 10 to 20 years ago. Unfortunately for the growers, however, this has also been a period in which their total revenues have plunged. In terms of an elasticity, what must be true for these events to have occurred? Illustrate these events with a diagram, indicating the quantity effect and the price effect that gave rise to these events.Answer to Question: An increase in the amount of acreage that is cultivated results in a rightward shift in the supply of coffee. This reduces the price of coffee and increases the quantity demanded. If total revenue from coffee sales have decreased, this means that the price effect (which tends to lower total revenue) must have outweighed the quantity effect (which tends to increase total revenue). This implies that demand must be inelastic. As shown in the accompanying diagram, the price effect results in a loss of total revenue equal to the size of area A. The quantity effect (the quantity demanded increases as a result of the price fall) results in an increase in total revenue equal to the size of area B. Area A exceeds area B, so total revenue falls.Question: The U.S. government is considering reducing the amount of carbon dioxide that firms are allowed to produce by issuing a limited number of tradable allowances for carbon dioxide (CO)2 emissions. In an April 25, 2007, report, the U.S. Congressional Budget Office (CBO) argues that “mostemissions would be borne by consumers, who would faceof the cost of meeting a cap on CO2persistently higher prices for products such as electricity and gasoline . . . poorer households would bear a larger burden relative to their income than wealthier households would.” What assumption about one of the elasticities you learned about in this chapter has to be true for poorer households to be disproportionately affected?Answer to Question: For poorer households to be disproportionately affected by an increase in energy prices, it is necessary that those households spend a larger share of their income on energy products than wealthier households. In other words, as income rises, the quantity of energy productsPractice Questions and Answers from Lesson I-7: Elasticitydemanded has to increase less than proportionately. So the CBO must think that the income elasticity of demand for energy products, although positive, is less than 1: energy products are income-inelastic. In fact, this is just what the CBO report says: “lower-income households tend to spend a larger fraction of their income than wealthier households do and . . . energy products account for a bigger share of their spending.”Question: According to a Honda press release on October 23, 2006, sales of the fuel-efficientfour-cylinder Honda Civic rose by 7.1% from 2005 to 2006. Over the same period, according to data from the U.S. Energy Information Administration, the average price of regular gasoline rose from $2.27 per gallon to $2.57 per gallon. Using the midpoint method, calculate the cross-price elasticity of demand between Honda Civics and regular gasoline. According to your estimate of the cross-price elasticity, are the two goods gross complements or gross substitutes? Does your answer make sense? Answer to Question: An increase in price from $2.27 to $2.57, using the midpoint method, is a percent increase of$2.57 - $2.27 $0.30−−−−−−−−−−−−−−−− x100 = −−−−−− x 100 = 12.4%($2.57 + $2.27)/2 $2.42So the cross-price elasticity of demand is7.1%/12.4% = 0.6Since the cross-price elasticity of demand between Honda Civics and regular gasoline is positive, your estimate says that the two are gross substitutes. This answer might seem perplexing because cars and gasoline are generally gross complements: you need gasoline to run a (gasoline-powered) car like a Honda Civic. So the complementary relationship between gas and cars implies that the cross-price elasticity between them is negative. But a Honda Civic adds another dimension to the comparison: it is a fuel-efficient car, not a gas-guzzler. And fuel-efficient cars and gas guzzlers are gross substitutes. So as gasoline prices rise, the demand for gas-guzzling cars falls and the demand for fuel-efficient cars (such as the Honda Civic), which are gross substitutes, rises. So the substitute nature betweengas-guzzlers and Honda Civics implies a positive cross-price elasticity between gas and Honda Civics. Which effect is stronger? Clearly it is the substitution effect that is stronger, because the data show a positive cross-price elasticity.11。

Practise Questions (Optional)(Note: As additional materials, the quick answers are given and assist you to understand concepts and some calculations. You are encouraged to work out procedures by yourself. You should review that week lecture notes and text chapter/s.)1. List three types of traders in futures, forward, and options markets1.(i) .................2.(ii) ................3.(iii) ...............1.hedgers, speculators, arbitrageurs2. A trader buys 100 European call options with a strike price of $20 and a time to maturity of one year. The cost of each option is $2. The price of the underlying asset proves to be $25 in one year. What is the trader's gain or loss? ............2. $300 gain3. A one-year call option on a stock with a strike price of $30 costs $3; a one-year put option on the stock with a strike price of $30 costs $4. Suppose that a trader buys two call options and one put option.(i) What is the breakeven stock price, above which the trader makes a profit? ……….(ii) What is the brea keven stock price below which the trader makes a profit? ……….3. (i) $35; (ii) $20.4. Which of the following is not true (circle one)(a) Futures contracts nearly always last longer than forward contracts(b) Futures contracts are standardized; forward contracts are not.(c) Delivery or final cash settlement usually takes place with forward contracts; the same is not true of futures contracts.(d) Forward contract usually have one specified delivery date; futures contract often have a range of delivery dates.4. (a)5. In the corn futures contract a number of different types of corn can be delivered (with price adjustments specified by the exchange) and there are a number of different delivery locations. Which of the following is true (circle one)(a) This flexibility tends increase the futures price.(b) This flexibility tends decrease the futures price.(c) This flexibility may increase and may decrease the futures price.(d) This has no effect on the futures price5. (b);6. A company enters into a short futures contract to sell 50,000 pounds of cotton for 70 cents per pound. The initial margin is $4,000 and the maintenance margin is $3,000. What is the futures price above which there will be a margin call? ………..6. 72 cents;7. A company enters into a long futures contract to buy 1,000 units of a commodity for $20 per unit. The initial margin is $6,000 and the maintenance margin is $4,000. What futures price will allow $2,000 to be withdrawn from the margin account? …………..7. $228. Who determines when delivery will take place in a corn futures contract (circle one)(a) The party with the long position(b) The party with the short position(c) Either party can specify a delivery date(d) The exchange specifies the exact delivery date.8. (b);9. Which of the following is true (circle one)(a) Both forward and futures contracts are traded on exchanges.(b) Forward contracts are traded on exchanges, but futures contracts are not.(c) Futures contracts are traded on exchanges, but forward contracts are not.(d) Neither futures contracts nor forward contracts are traded on exchanges.9. (c)10. On March 1 the spot price of a commodity is $20 and the July futures price is $19. On June 1 the spot price is $24 and the July futures price is $23.50. A company entered into a futures contracts on March 1 to hedge the purchase of the commodity on June 1. It closed out its position on June 1. What is the effective price paid by the company for the commodity? ……….10. (a)11. Suppose that the standard deviation of monthly changes in the price of commodity A is $2. The standard deviation of monthly changes in a futures price for a contract on commodity B (which is similar to commodity A) is $3. The correlation between the futures price and the commodity price is 0.9. What hedge ratio should be used when hedging a one month exposure to the price of commodity A? …………..11. 0.612. Futures contracts trade with all delivery months. A company is hedging the purchase of the underlying asset on June 15. Which futures contract should it use (circle one)(a) The June contract(b) The July contract(c) The May contract(d) The August contract12. (b);13. A company has a $36 million portfolio with a beta of 1.2. The S&P index is currently standing at 900. Futures contracts on $250 times the index can be traded. What trade is necessary to achieve the following. (Indicate the number of contracts that should be traded and whether the position is long or short.)(i) Eliminate all systematic risk in the portfolio …………(ii) Reduce the beta to 0.9 …………..(iii) Increase beta to 1.8 …………….13. (i) 192 short; 48 short; 96 long14. The spot price of an investment asset that provides no income is $30 and the risk-free rate for all maturities (with continuous compounding) is 10%. What is the three-year forward price? ………14. $40.5015. Repeat question 14 on the assumption that the asset provides an income of $2 at the end of the first year and at the end of the second year………..15. $35.8416. An exchange rate is 0.7000 and the six-month domestic and foreign risk-free interest rates are 5% and 7% (both expressed with continuous compounding). What is the six-month forward rate? …………16. 0.693017. The spot price of an asset is positively correlated with the market. Which of the following would you expect to be true (circle one)(a) The forward price equals the expected future spot price.(b) The forward price is greater than the expected future spot price.(c) The forward price is less than the expected future spot price.(d) The forward price is sometimes greater and sometimes less than the expected future spot price.17. (c);18. The one-year Canadian dollar forward exchange rate is quoted as 1.4000. What is the corresponding futures quote? ………………18. 0.714319. Which of the following is a consumption asset (circle one)(a) The S&P 500 index(b) The Canadian dollar(c) Copper(d) IBM shares19. (c)20. Consider an exchange traded put option to sell 100 shares for $20.Give (a) the strike price and (b) the number of shares that can be sold after(i) A 5 for 1 stock split (a) ………….(b) ……………(ii) A 25% stock dividend (a) ……….. (b) ………….(iii) A $5 cash dividend (a) ………. (b) ……………20. (i) $4 and 500; (ii) $16 and 125; (iii) $20 and 10021. Which of the following are always positively related to the price of a European call option on a stock (circle three)(a) The stock price(b) The strike price(c) The time to expiration(d) The volatility(e) The risk-free rate(f) The magnitude of dividends anticipated during the life of the option21. (a), (d), and (e);22. What is the lower bound for the price of a two-year European call option on a stock when the stock price is $20, the strike price is $15, and the risk-free interest rate is 5% and there are no dividends? ……22. $6.4323. What is the lower bound for the price of a six-month European put option on a stock when the stock price is $40, the strike price is $46 and the risk-free interest rate is6%? …………23. $4.6424. A call and a put on a stock have the same strike price and time to maturity. At 10:00am on a certain day, the price of the call is $3 and the price of the put is $4. At 10:01am news reaches the market that has no affect on the stock price, but increases its volatility. As a result the price of the call changes to $4.50. What would you expect the price of the put to change to? ………….24. $5.50.25. A stock price is currently $100. Over each of the next two three-month periods it is expected to increase by 10% or fall by 10%. Consider a six-month European put option with a strike price of $95. The risk-free interest rate is 8% per annum(i) What is the risk-neutral probability of a 10% rise in each quarter? ………………(ii) What is the value of the option? ……………..(iii) What is the value of the option if it is American? ………………(iv) What is the value of the option if it is a call rather than a put? …………..25. (i) 0.601; (ii) 2.14; (iii) 2.14; (iv) 10.87.26. Consider a six month put option on a stock with a strike price of $32. The current stock price is $30 and over the next six months it is expected to rise to $36 or fall to $27. The risk-free interest rate is 6%.(i) What is the risk-neutral probability of the stock rising to $36? ……………(ii) What position in the stock is necessary to hedge a long position in 1 putoption? ……………(iii) What is the value of the put option? …………26. (i) 0.435; (ii) Long position in 0.556 shares; (iii) 2.74; 2.27. For a call option on a non-dividend-paying stock, the stock price is $30, the strike price is $29, the risk-free interest rate is 6% per annum, the volatility is 20% per annum and the time to maturity is three months. Expressed in terms of the cumulative normal function, N(x),(i) What is the price of the option? …………………………………………….(ii) What is the price of the option if it is a put? …………………………….27. (i) 30N(0.5390)−28.57N(0.4390);(ii) 28.57N(−0.4390)−30N(−0.5390)28. A portfolio of derivatives on a stock has a delta of 2400 and a gamma of −100.(i) What position in the stock would create a delta-neutral portfolio?.....................(ii) An option on the stock with a delta of 0.6 and a gamma of 0.04 can be traded. What position in the option and the stock creates a portfolio that is both gamma and delta neutral?.................28. (i) Short 2,400; (ii) Long 2,500 options; Short 3,900 shares29. The delta of a European call option on a non-dividend-paying stock is 0.6, its gamma is0.04 and its vega is 0.1(i) What is the delta of a European put option with the same strike price and time to maturity as the call option?....................(ii) What is the gamma of a European put option with the same strike price and time to maturity as the call option?....................(iii) What is the vega of a European put option with the same strike price and time to maturity as the call option?........................29(i) −0.4; (ii) 0.04; (iii) 0.1.30. As time passes, the spot price and the futures price do not necessarily change by the same amount, a decrease in basis is referred to as?(a) strengtheningb) improving(c) weakening(d) none of the above30 (c)。

人教版七年级英语上册Unit 7 综合素质评价(限时: 120分钟满分: 120分)第一部分(听力共30 分)I. 听选答案(共15 小题, 计20 分)第一节: 听下面10 段对话,每段对话后有一个问题, 读两遍。

请根据每段对话的内容和后面的问题, 从所给的三个选项中选出问题的正确答案。

(共10 小题, 计10 分)( ) 1. A. Yellow shorts. B. Blue trousers. C. Yellow T-shirts. ( ) 2. A. His mother. B. His sister. C. His daughter. ( ) 3. A. August. B. March. C. May.( ) 4. A. 12. B. 14. C. 18.( ) 5. A. On July 7th. B. On May 7th. C. On April 7th. ( ) 6. A. On September 29th. B. On October 3rd. C. On December 3rd. ( ) 7. A. The book sale. B. The school trip.C. The volleyball game.( ) 8. A. 14 dollars. B. 20 dollars. C. 30 dollars.( ) 9. A. On February 24th. B. On March 24th. C. On April 24th. ( ) 10. A. Edwin’s grandma. B. Edwin’s grandpa. C. Edwin’s father.第二节: 听下面两段材料, 包括一篇独白和一段对话,每段材料后有几道小题。

请根据材料的内容, 从题目所给的三个选项中选出问题的正确答案。

每段材料读两遍。

(共5 小题, 计10 分)听第1 段材料, 回答第11、12 小题。

McLain, B. Career Guide for Music Education Interview Practice Questions1. Tell me a little bit about yourself.2. What is the role of the teacher in the classroom?3. Tell me about your student teaching.4. What was your favorite course in college?5. What techniques do you use to motivate students?6. How do you know that what you are teaching is really being learned?7. Where do you want to be five years from now?Ten years?8. State a behavioral objective you taught in your last class.9. What is the most exciting thing happening inmusic education today?10. What have you found to be the toughest aspect of discipline?11. Describe an ideal curriculum in music.12. How do you introduce career education in music classes?13. How do you individualize learning in your classes?14. What are the current curriculum trends in music?15. What is the ratio of time spent talking to students about music versus time spent having them make music?16. Describe independent study projects your students have completed.17. What's your favorite musical concept to teach?18. What rules do you establish in your classroom?19. What is most important--content, outcome, or process?20. How do you handle the different ability levels in your classes?21. What made you decide to become a teacher? 22. What are your plans concerning professional development?23. What is the toughest aspect of teaching today?24. Describe your most positive teaching experience. Describe your most negative.25. How should music teachers contribute to the development of the total school program?26. What extracurricular activities could you assist with if you are hired for this position?27. Could a student of low academic ability receive a high grade in your class?28. What kinds of music would you program on concerts?29. How do you intend to grade music students?30. What is your philosophy of music education? What is your philosophy of education in general?31. Why is music an important subject in the curriculum?32. How do you feel about tracking students versus mainstreaming them?33. What are your weaknesses? What are your strengths?34. How do you encourage students who are musically gifted?35. How would you mainstream special education students in your ensembles?36. Define a superior music teacher.37. What are your hobbies and recreational interests?38. How much practice time do you expect from students?39. What should schools do for students?40. What makes your class different from other subjects?41. How would your peers describe you?McLain, B. Career Guide for Music Education42. How do you develop aesthetic responses in students?43. Which five words would you use to describe yourself?44. How would you deal with a student who was a habitual behavior problem?45. What would you do if a student missed a performance?46. How do you feel about using detention for managing student behavior?47. Which units would you include in sixth-grade general music?48. How will you manage and protect the school's equipment?49. What are important components of a band method book? What are the important components of a general music textbook?50. What kind of field trips would you be interested in organizing?51. A student tells you that he or she has experimented with drugs. What would you do?52. Are you well-organized?53. How do you feel about corporal punishment?54. How many performances do you expect from your students each year?55. What do students gain from studying music?56. How many years should a student participate in ensembles?57. Will you be using any religious music?58. What would you like to change about music teaching in the U.S.?59. What do you like most about being a music teacher?60. How important is it that students like you?61. How do you cope with stress? 62. How do you involve parents in the music program?63. Describe your last teaching day.64. Name the titles of the last three books you read.65. Who is your favorite composer for band? Orchestra?66. How do you feel about music competitions and festivals? Show choirs? Strolling strings?67. How many days of school did you miss last year?68. Why should we hire you?69. What question have I not asked you that you were hoping I would?70. What are three words that describe your teaching style?71. Who is responsible for discipline in schools?72. What would you do if a student could not affordto buy a uniform? An instrument?73. What is your philosophy concerning fund-raising?74. How will you control behavior in large ensembles?75. Would you ever punish an entire class? When?76. How would you respond to a parent complaint about your attendance policy?77. If you could change one aspect of your personality to help you get along better with people, what would you change?78. Describe the perfect music student.79. Why do you want to teach this age level?80. How will you decide who plays which instruments?81. How will you make sure that students are challenged in your music class?82. What would you do if you caught a student cheating?83. How much input should students contribute to a music program?84. How can you tell if you've had a good rehearsalor class?85. When you listen to a student who stutters, how do you feel?86. Should students be allowed to evaluate their teachers?87. When did you first decide to become a music teacher?88. How much should a teacher know about the personal lives of his or her students?89. Do you think that students are capable of self-discipline?90. How much travel would you be doing with your groups?91. What do you do when you're bored?92. Do you think it's possible for a teacher to get too close to his or her students?93. Describe a "failing" student in your class.94. What do you consider justifiable reasons for being late to work?95. How much time outside the school day should a music teacher be willing to work?96. If you weren't able to teach music, what would you do for a living?97. If you had a forty-minute class period, how would you divide that time in a rehearsal setting? 98. Can you play all the instruments in the band? In the orchestra? How well?99. How will you incorporate technology into your classroom?100. How would you handle racial tension in your classroom?101. Why do you want to work for us?102. What strategies would you use to help a student with a bad attitude toward music class?103. What do you consider an adequate budget for your program?104. What would a student have to do to get "kicked out" of your class or ensemble?105. How do you feel about students who want to be involved in both music and sports? How would you handle scheduling conflicts?106. Why did you choose to attend your college or university?107. How often will your marching band rehearse? 108. Can you coach any sports?109. How do you usually cope with stress and burnout?110. If you could write a book, what would the title of the book be? Describe the content.Questions to AskHow often would my classes meet? For how many minutes?Who are the other music teachers? What are their responsibilities?Is music required or elective?How much say will I have in scheduling my classes?Is there an addendum contract ($$) for extra duties?How transient is the student population?When would I get to start?What would my budget be?How many students are participating in ensembles now?Are there any special commitments that would be expected of me or my ensembles? Assemblies? Traditions? How successful has the program been recently?What are the facilities like? Can I see them?What is the district policy on professional leave for conferences, etc.?Could I have a copy of the salary schedule?Does the district reimburse travel expenses if I have to work at more than one building?What other duties are expected? (Lunch monitor, etc.)When will you be making your decision?Is there a music parent organization in place?Have your music students traveled in the past? How often?How important is music competition in this district? Would this be required?What types of music technology are available? Will music students have access to a technology lab?。