How do different react to exchange rate changes
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2022北京高一(上)期末英语汇编七选五一、七选五(2022·北京海淀·高一期末)They Consider Rats LifesaversWhen people hear the word “rat”, they may think of dirty animals that spread diseases. And if you are an English learner, you may also connect the word rat with bad expressions. For example, calling someone a rat is a big insult (侮辱) and “rat race” describes a joyless, hurried way of living.____1____However, the rat trainers at the nonprofit organization, APOPO, see these animals very differently. ____2____ Based in Tanzania, APOPO trains a kind of rats to find landmines (地雷). And the rats with their extraordinary sense of smell are very good at the job. APOPO calls their animal team Hero Rats.Ellie Cutright is an APOPO trainer from Charleston, South Carolina. The researcher shared her very high opinions of rats in a discussion with VOA.____3____ “Everybody should know that these rats aren’t stupid. They’re not terrible animals. They're really intelligent and they can be trained to do some amazing things.”Human beings have used metal-searching devices to do this work for years. But rats — it turns out — do it better. And they also cost less money.____4____ “When the rats are working in the field and they find a landmine, they scratch (挠) on the ground and that’s how we know. We place a little marker there, and then we can go safely to remove those landmines and get rid of them.” Once trained, the rats can work in minefields in Tanzania and other countries around the world.____5____ However, they still do not weigh enough to cause a landmine to explode. Cutright praises the impact of their work. “I think the work that APOPO does is really important in kind of spreading the word that rats are not just a pest. They really are heroes and they show us every day that they are worthy of that name.”A.So, rats generally are not beloved animals either in life or in the English language.B.Worldwide there are 110 million hidden landmines left over from wars.C.A rat is an animal that looks like a large mouse with a long tail.D.She wants everyone to know how useful these animals are.E.This kind of rats are large compared to other kinds of rats.F.Cutright explains how the search process (过程) works.G.They consider rats “lifesavers”(2022·北京房山·高一期末)How to Find Real FriendsA lot of people would define a real friend as a treasure. ____6____ Given below are the steps to be done for us to find real friends that will stand by us through whatever comes along.Be interested in others. Having interest in others is the first step towards making friends. We should start by having a real love for people and then taking an active interest in others.___7___ Others are often impressed that you cared enough to remember their name. And with this, they may begin to share some experience or problems with you and the friendship starts to build.__8__ Being a good listener is important in building friendships. If weare interested in what others are saying, they are typically drawn to us.Be loyal. It is said that the main quality of a friend is his loyalty: a friend that will be with you through thick and thin. A real friend shouldn’t damage your reputation by joining in wicked gossip. ____9____ Reveal your deepest feelings. A friend should not be embarrassed to lay bare to those whom he trusted. This, of course, doesn’t mean that you should pour out all your emotions to everyone that you meet. However, we should be honest. And as you get to know and trust someone, you can gradually reveal more of your deepest feelings.Do not expect perfection. We aren’t perfect. And even when a friendship is off to a good start, we shouldn’t expect it to be perfect. We must strive to make it an almost perfect kind of friendship. ____10____ Friends are important to our lives. Sometimes, they are our source of strength and inspiration. However, we must remember that for us to finally meet real friends, we must be a real friend too.A.Pay attention to how you listen.B.And to attain it, we need time and emotion.C.Instead, he or she will loyally stand up for you.D.Actually, a sincere interest in others attracts friendship.E.Just like in searching for treasure, an effort should be done.F.One way to show interest is to know their name and remember it.G.A secret for a successful friendship includes empathy and fellow feelings for others.(2022·北京市怀柔区教科研中心高一期末)How old is “old”?How old is “old”? ___11___ More than two hundred years ago, you were old at 35. That was the average life then. At the turn of the 20th century, as medical knowledge advanced, the average life span (长度) increased to 45. In 1950, 70-year-olds were really old. Today, a healthy 70-year-old is looking forward to many more active years.So, how old is old? The answer is one you’ve heard many times, from all sorts of people. “You are as old or young as you feel!” The calendar (日历) simply tells you how many years you have lived. ___12___ Once an unknown author wrote, “Youth is not a time of life but it is a state of mind. Nobody grows old by living a number of years. ___13___”___14___ Alice Brophy, when she was with the New York City commission for the Aging, said, “It upsets me when people say, ‘Gee, you look young for your age!’ What does that mean? Is there some model that you’re supposed to look a certain way at 65 and 75 and 85? You know you can die old at 30 and live young at 80.”There are many wrong ideas about aging. ___15___ Here are some of the more common ones. For example, most older people are in poor health, or older people are unable to change.A.Old is a point of view.B.It’s extremely terrible to be grown old.C.The answer has changed over the years.D.Your body tells you how well you’ve lived.E.Older people are stubborn, unable to change.F.People grow old by giving up their goals.G.These ideas stereotype (固化) people on the basis of age.(2022·北京师大附中高一期末)Blind Olympic Athletes Show the Universal NatureTune into any sports coverage on TV, and you will see many athletes proudly raise their arms and heads in victory, while a much larger number hang their shoulders and necks in defeat. Studies have revealed why—they are universal behaviours, performed by humans in response to success and failure.The discovery came from Jessica Tracy from the University of British Columbia and David Matsumoto from San Francisco State University, who wanted to see how people showed feelings of pride and shame. ____16____ They tried to find a large group of people, and it was critically important that some of these subjects had never seen other people reacting to success or failure before.The answer was Athens, during the 2004 Olympic Games. Its sister competition—the Paralympics—included many athletes who were born blind. ____17____ Working with a professional photographer, Tracy and Matsumoto compared the body language of 108 competitors, 41 of whom had lost their sight, and 12 of whom were blind from birth. The photographer repeatedly took pictures of these athletes after their competitions, and the researchers carefully recorded the positions of their heads, arms and bodies. ____18____ The winners tilted their heads up, smiled, lifted their arms and puffed out their chests, while shoulders bent forward and narrowed chests were the marks of losers.____19____ Men and women who have never seen other people behave in these ways still make exactly the same movements. And while it’s possible that parents may have taught their blind children some of these actions, it’s very unlikely that they could have taught them all—particularly the expansion or narrowing of the chest.These actions were also remarkably consistent between contestants from every part of the world. Tracy and Matsumoto argue that pride and shame deserve a place alongside other primary emotions like happiness, fear and surprise. ____20____A.They are inborn behaviours and are accompanied by their own distinct sets of actions.B.In fact, the culture was found to have only a very small effect on their body language.C.Therefore, they could not have witnessed how other people reacted to winning and losing.D.The result suggested that the athletes were showing their pride based on careful observation.E.The athletes’ behaviours give strong evidence that they have had the actions naturally since birth. F.Analyzing the data, they found that the sighted and sightless athletes behaved in almost exactly the same ways. G.In particular, they wanted to know whether these expressions were culturally determined and learned through observation.(2022·北京昌平·高一期末)Stress Management: How to Reduce, Prevent, and Cope with StressIf you’re living with high levels of stress, you’re putting your health and happiness at risk. Stress does harm to your health. It may seem like there’s nothing you can do about stress. _____21_____ The following stress management tips can help you do that.Get movingWhen you’re stressed, the last thing you probably feel like doing is getting up and exercising. _____22_____ You don’t have to be an athlete or spend hours in a gym to experience the benefits. Exercise releases endorphins that make you feel good, and it can also serve as a valuable distraction from your daily worries.Connect to othersThere is nothing more calming than spending quality time with another human being who makes you feel safe and understood. So make it a point to connect regularly — and in person — with family and friends. Keep in mindthat the people you talk to don’t have to be able to fix your stress. _____23_____. And try not to let worries about looking weak keep you from opening up. The people who care about you will be happy because of your trust. It will only strengthen your relationship._____24_____When you’re worn out by your morning traffic, or stuck in a stressful meeting at work, you need a way to manage your stress levels right now. The fastest way to reduce stress is by taking a deep breath and using your senses — what you see, hear, taste, and touch — or through a comfortable movement. By viewing a favorite photo, smelling a specific smell, listening to a favorite piece of music, tasting sweets, or hugging a pet, for example, you can quickly relax and focus yourself.Effective stress management helps you break the hold stress has on your life, so you can be happier, healthier, and more productive. But stress management is not one-size-fits-all. _____25_____A.Take control of your own life.B.Learn to relieve stress in the moment.C.They simply need to be good listeners.D.But physical activity is a huge stress reliever.E.But you have a lot more control than you might think.F.That’s why it’s important to experiment and find out what works best for you.G.While it’s not easy to avoid all stress, Learning about it can help you avoid unnecessary stress.参考答案1.A2.G3.D4.F5.E【导语】这是一篇新闻报道。
Unit 3 Using language拓展练习I.单元要点回扣练II.单句语法填空1. In my opinion, honesty is the most important part of friendship, because I hate _________ (cheat).2. Some people are in favour of building a swimming pool for children, _________others are against it.3. Xu Haifeng was the first Chinese_________(win)a gold medal at Olympic Games.4. _________(bring)up in the countryside made Mr Wilson very hard-working when he was very young.5. _________ (walk)is a good form of exercise for both young and old.6. It is a waste of time_________ (try)to persuade him to give up playing computer games.7. _________(hear)how others react to the book you have just read creates an added pleasure.8. In Chinese culture, _________(point)at others with a finger is considered to be impolite.9. Talking with your kid heart to heart _________(be) very important.10. It is no pleasure _________(stay)at home doing homework all day.答案:1. being cheated2. while3. to win4. Being brought5. Walking6. trying7. Hearing8. pointing9. is 10. stayingIII.阅读理解AFour teenage girls from Minnesota, US. 120 hours of nonstop togetherness. No cellphones. This is not a reality show, but an adventure journey.“It was really perfect,” said Julia Ruelle of her recent adventure to the Boundary Waters Canoe Area Wilderness with three of her childhood friends. “By unplugging, we had an amazing time.”Last year, the 16-year-old took part in an essay contest and carried off a prize. The award was a 5-day canoe and camping adventure with up to three friends. No parents or guides would be there. So Julia invited her friends Anna Wander, Madeline Wilson and Julianna Torelli.The four Minnetonka High School juniors arrived in Ely for training the day before they began the journey. They set out the next day at 7 a.m., quickly developing a routine.“We were done paddling by noon,” Julia said. “We ate lunch at the campsites and then it was time for hammocks (吊床), reading, making friendship bracelets (手镯) and talking.”The girls all had experience in the outdoors before.Anna had been to the Boundary Waters with her family. “I love how you are separated from everything in your life, especially technology, ” Anna said. Without her phone, she said, “I’m less worried about things.” Madeline, too, had been to the Boundary Waters a few years ago. “But this time, I had to paddle right and set up camp,” she said. The girls made fire and cooked meal together. No one was ever hungry or homesick, but they were nervous in the final night as they waited out a thunderstorm. They left wet sleeping bags in one tent, and squeezed into another for the night. “Every thunderstorm in the Boundary Waters feels huge, ” Julia said.On the car ride home, they were all on their phones catching up with friends. “It was a little at a loss turning my phone on, ” said Anna. “Mental health can be improved so much in the Boundary Waters. It really helps to get away and reconnect with yourself.”1.How did Julia Ruelle get the chance to camp?A.She won an essay contest.B.She was invited by her friends.C.She performed well in her school.D.She asked her parents for support.2.Why was the 5-day adventure unique to the girls?A.They needed to complete many tasks.B.They needed to find a guide on their own.C.They had to live on a boat for several days.D.They had to live without their smartphones.3.What can we know about the girls from the story?A.They had not got any camping experience before.B.They all felt refreshed after the adventure journey.C.They enriched their learning experiences by exploring.D.They used to keep in close touch with their friends by phone.【解题导语】16岁的高中女生Julia Ruelle参加了一个作文比赛并获奖,奖品是邀请最多三位朋友一起进行为期五天的独木舟和露营探险。
Rat RANTES ELISA Kit Catalog Number KRC1031 (96 tests)Pub. No. MAN0004876 Rev.4.0 (32)CAUTION! This kit contains materials with small quantities of sodium azide. Sodium azide reacts with lead and copper plumbing to form explosive metal azides. Upon disposal, flush drains with a large volume of water to prevent azide accumulation. Avoid ingestion and contact with eyes, skin and mucous membranes. In case of contact, rinse affected area with plenty of water. Observe all federal, state, and local regulations for disposal.Note: For safety and biohazard guidelines, see the “Safety” appendix in the ELISA Technical Guide (Pub. no. MAN0006706). Read the Safety Data Sheets (SDSs) and follow the handling instructions. Wear appropriate protective eyewear, clothing, and gloves.Product descriptionThe Invitrogen™ Rat RANTES ELISA Kit is a solid-phase sandwich Enzyme-Linked Immunosorbent Assay (ELISA). This assay is designed to detect and quantify the level of rat RANTES in serum, buffered solution, or cell culture medium. The assay will recognize both natural and recombinant rat RANTES.Contents and storageUpon receipt, store the kit at 2°C to 8°C.Materials required but not supplied•Distilled or deionized water•Calibrated adjustable precision pipettes and glass or plastic tubes for diluting solutions; beakers, flask and cylinders for preparation of reagents•Microtiter plate reader with software capable of measurement at or near 450 nm•Plate washer–automated or manual (squirt bottle, manifolddispenser, or equivalent)Before you beginIMPORTANT! Reagents are lot-specific. Do not mix or interchange different reagent lots from various kit lots.•Review the Procedural guidelines and Plate washing directions in the ELISA Technical Guide available at .•Allow reagents to reach room temperature before use. Mix toredissolve any precipitated salts.Prepare 1X Wash Buffer1.Dilute 16 mL of Wash Buffer Concentrate (25X) with 384 mL ofdeionized or distilled water. Label as 1X Wash Buffer.2.Store the concentrate and 1X Wash Buffer in the refrigerator. Usethe diluted buffer within 14 days.Sample preparation guidelines•Refer to the ELISA Technical Guide at for detailed sample preparation procedures.•Collect samples in pyrogen/endotoxin-free tubes.•Freeze samples after collection if samples will not be tested immediately. Avoid multiple freeze-thaw cycles of frozen samples. Thaw completely and mix well (do not vortex) prior to analysis.•Avoid the use of hemolyzed or lipemic sera. If large amounts of particulate matter are present in the sample, centrifuge or filter sample prior to analysis.Pre-dilute samplesSample concentrations should be within the range of the standard curve. Because conditions may vary, each investigator should determine the optimal dilution for each application.•Perform sample dilutions with Standard Diluent Buffer.•Dilute serum samples 20-fold in Standard Diluent Buffer.Dilute standardsNote: Use glass or plastic tubes for diluting standards.1.Reconstitute Rt RANTES Standard to 10,000 pg/mL with Standard Dilution Buffer. Refer to the standard vial label for instructions. Swirl ormix gently and allow the contents to sit for 10 minutes to ensure complete reconstitution. Label as 10,000 pg/mL rat RANTES. Use the standard within 1 hour of reconstitution.2.Add 150 µL Reconstituted Standard to one tube containing 450 µL Standard Diluent Buffer and mix. Label as 2,500 pg/mL rat RANTES.3.Add 300 µL Standard Diluent Buffer to each of 7 tubes labeled as follows: 1,250, 625, 312, 156, 78, 39, and 0 pg/mL rat RANTES.4.Make serial dilutions of the standard as shown in the following dilution diagram. Mix thoroughly between steps.5.Discard any remaining reconstituted standard. Return the Standard Diluent Bufferto the refrigerator.DiluentVolumeStd5Std4Std3Std2Std1Std6Std7Std0150 μL625 pg/mL2,500 pg/mL1,250 pg/mL39 pg/mL78.1 pg/mL156 pg/mL312 pg/mL10,000 pg/mL450 μL300 μL300 μL300 μL300 μL300 μL300 μL300 μLPrepare 1X Streptavidin‑HRP solutionNote: Prepare 1X Streptavidin-HRP within 15 minutes of usage.1.For each 8-well strip used in the assay, pipet 10 µL Streptavidin-HRP (100X) solution, and dispense the solution into a tube containing 1 mL ofStreptavidin-HRP Diluent. Mix thoroughly.2.Return the unused Streptavidin-HRP (100X) solution to the refrigerator.Perform ELISA (Total assay time: 4 hours)IMPORTANT! Perform a standard curve with each assay.•Allow all components to reach room temperature before use. Mix all liquid reagents prior to use.•Determine the number of 8-well strips required for the assay. Insert the strips in the frames for use. Re-bag any unused strips and frames, andstore at 2°C to 8°C for future use.a.Add 100 µL of standards to the appropriate wells. For serum samples, add 100 µL of diluted samples(see “Pre-dilute samples” on page 2) to the appropriate wells. For buffered solutions or cell culturesamples, add 50 µL of sample follwed by 50 µL of Standard Diluent Buffer. Leave the wells forchromogen blanks empty.b.Tap the side of the plate to mix. Cover the plate with a plate cover and incubate for 2 hours at 37°C.c.Thoroughly aspirate the solution and wash wells 4 times with 1X Wash Buffer.1Bind antigena.Add 100 µL Rt RANTES Biotin Conjugate solution into each well except the chromogen blanks.2Add Biotin ConjugateAdd Streptavidin‑HRPAdd Stabilized ChromogenAdd Stop Solution1.Read the absorbance at 450 nm. Read the plate within 2 hours after adding the Stop Solution.e curve-fitting software to generate the standard curve. A 4 parameter algorithm provides the best standard curve fit. Optimally, thebackground absorbance may be subtracted from all data points, including standards, unknowns and controls, prior to plotting.3.Read the concentrations for unknown samples and controls from the standard curve. Multiply value(s) obtained for sample(s) by theappropriate factor to correct for the sample dilution.Note: Dilute samples producing signals greater than the upper limit of the standard curve in Standard Diluent Buffer and reanalyze. Multiply the concentration by the appropriate dilution factor.Performance characteristicsStandard curve exampleThe following data were obtained for the various standards over therange of 0 to 2,500 pg/mL rat RANTES.Inter-assay precisionSamples were assayed 48 times in multiple assays to determineprecision between assays.Intra-assay precisionSamples of known rat RANTES concentration were assayed inreplicates of 16 to determine precision within an assay.Expected valuesA limited number (n = 8) of rat sera were assayed with the Rat RANTES ELISA Kit. The mean value obtained was 5,610 pg/mL (range: 4,140 - 7,830 pg/mL).Linearity of dilutionRat serum containing 1,985 pg/ml of measured rat RANTES was serially diluted in Standard Diluent Buffer over the range of the assay. Linear regression analysis of samples versus the expected concentration yielded a correlation coefficient of 0.999. RecoveryThe recovery of rat RANTES added to rat serum averaged 80%. The recovery of rat RANTES added to cell culture medium containing 1% fetal calf serum averaged 95%, while the recovery of rat RANTES added to cell culture medium containing 10% fetal calf serum averaged 89%.SensitivityThe analytical sensitivity of the assay is <20 pg/mL rat RANTES. This was determined by adding two standard deviations to the mean O.D. obtained when the zero standard was assayed 30 times, and calculating the corresponding concentration.SpecificityBuffered solutions of a panel of substances at 10,000 pg/mL were assayed with the Rat RANTES ELISA Kit. The following substances were tested and found to have no cross-reactivity: Rat IL-1 β, IL-4, IFN-γ, MIP-2, TNF-α; Mouse IL-2, IL-3, IL-4, IL-6, IL-10, TNF-α; Human IL-1 β, IL-2, IL-8, IL-10, IL-15, GM-CSF, IFN-γ, RANTES, TNF-α.Limited product warrantyLife Technologies Corporation and/or its affiliate(s) warrant their products as set forth in the Life Technologies' General Terms and Conditions of Sale at /us/en/home/global/terms-and-conditions.html. If you have any questions, please contact Life Technologies at /support.Bender MedSystems GmbH | Campus Vienna Biocenter 2 | 1030 Vienna, AustriaFor descriptions of symbols on product labels or product documents, go to /symbols-definition.The information in this guide is subject to change without notice.DISCLAIMER: TO THE EXTENT ALLOWED BY LAW, THERMO FISHER SCIENTIFIC INC. AND/OR ITS AFFILIATE(S) WILL NOT BE LIABLE FOR SPECIAL, INCIDENTAL, INDIRECT, PUNITIVE, MULTIPLE, OR CONSEQUENTIAL DAMAGES IN CONNECTION WITH OR ARISING FROM THIS DOCUMENT, INCLUDING YOUR USE OF IT.Important Licensing Information: These products may be covered by one or more Limited Use Label Licenses. By use of these products, you accept the terms and conditions of all applicable Limited Use Label Licenses.©2019 Thermo Fisher Scientific Inc. All rights reserved. All trademarks are the property of Thermo Fisher Scientific and its subsidiaries unless otherwise specified./support | /askaquestion。
阅读理解的结构化整理(说明文1)一、说明文结构1. 总分式(1)总分(无结尾):《苏州园林》(2)总分总:《故宫博物馆》(3)分总2. 并列式文章没有主次轻重之分:《论读书》,三个部分分别谈到了读书的目的、读书的方法、读书的好处。
3. 连贯式各层之间按照事物发展过程安排层次,(时间为线索)前后互相承接。
4. 递进式各层之间的关系是由浅入深、由表及里、由现象到本质。
各层之间的关系是递进的。
如《向沙漠进军》。
递进结构的主要形式有:①现象——本质;①特点——用途;①原因——结果;①整体——部分;①主要——次要;①概括——具体。
二、说明一项发明或发现结构分析典例分析(2022·吉林·东北师范大学)A joint research team recently have developed a new electronic skin that is similar to human skin in strength, durability and sensitivity. The skin or eskin may play an important role in nextgeneration personalized medicine, soft robotics and artificial intelligence.“The ideal eskin will mimic (模仿) the many natural functions of human skin, such as sensing temperature and touch, accurately and in real time,” says leading researcher Yichen Cai. However, making suitably flexible electronics that can perform such delicate tasks while also used repeatedly is challenging, and each material involved must be carefully engineered.Most eskins are made by putting an active sensor on the surface that attaches to human skin. However, the connection between them is often too weak, which reduces the durability andsensitivity of the material; otherwise, if it is too strong, it won’t be flexible enough, making it more likely to break the circuit.“The landscape of skin electronics keeps shifting at a remarkable pace,” says Cai. “The discovery of 2D sensors has accelerated efforts to turn these quite thin but strong materials into functional, durable artificial skins.”The new manmade skin built by the researchers could sense objects from 20 centimeters away. It could further make a quick response when touched in less than one tenth of a second. “It is a striking achievement for an eskin to maintain toughness after repeated use,” said Shen, “which mimics the softness and rapid recovery of human skin.”This type of eskin could monitor a range of biological information, such as changes in blood pressure, which can be detected from movements of arms and legs. This data can then be shared and stored on the cloud via WiFi.“One remaining problem to the widespread use of eskins lies in mass production of highresolution sensors,” adds group leader Vincent Tung, “however, the latest technology offers new promise.”(1)第一段:发明的内容、好处(eskin)(2)第二段:用途、功能(模仿人类皮肤的功能)(3)第三段:原理(4)第四段:前景(5)第五段:功能、优势(感知物体)(6)第六段:功能、用途(生物)(7)第七段:潜在问题1.What’s the feature of the new eskin?A.It’s flexible and sensitive.B.It is almost the same as human skin.C.It has fragile electronics.D.It has proved important in areas like AI.【解析】根据文章第一段内容“A joint research team recently have developed a new electronic skin that is similar to human skin in strength, durability and sensitivity.(最近,联合研究小组开发出了强度、耐用性、敏感性与人类皮肤相似的新型电子皮肤。
如何成为应该合格的交流者英语作文How to Become a Competent CommunicatorCommunication is super important! It allows us to share our thoughts, feelings and ideas with others. Without good communication skills, it would be really hard to make friends, work together on projects, or understand what our teachers and parents are telling us. Being a competent communicator means we can effectively get our message across and understand what others are saying too. Let me share some tips on how to become a great communicator!Listen Up!The first step to communicating well is to be a good listener. Active listening means paying close attention when someone is speaking to you. Look them in the eyes, nod your head to show you're following along, and avoid interrupting until they are finished. Ask questions if you don't understand something. Listening first helps make sure you don't miss important parts of the message.Speak ClearlyOnce you've listened carefully, it's your turn to speak! When you talk, speak slowly and pronounce your words clearly. Thismakes it easier for others to understand you. Use a confident voice tone without mumbling or trailing off at the end of sentences. If you tend to speak too quickly when you're excited or nervous, take a breath to slow down.Use Friendly Body LanguageCommunication isn't just about the words you say - your body language matters too! While speaking, maintain good posture and face the person you're talking to. Nod, smile, and make hand gestures to emphasize your points. Avoid crossing your arms or hunching over, which can seem unfriendly. Your body language should match the tone of your message.Choose Your Words WiselyThink about how to get your point across in the clearest way. Sometimes using simpler vocabulary or providing examples can help, especially when explaining something complicated. If you notice the other person looks confused, rephrase what you said in a different way. Being able to adjust how you communicate based on the situation is an important skill.Stay FocusedDuring longer conversations, it's normal for your mind to occasionally wander. If you notice your attention drifting, refocuson the speaker. Ask them to repeat the part you missed so you don't fall behind. Taking notes can also help keep you engaged, especially if it's an important discussion. Avoiding distractions shows respect for the other person.Read Body Language TooWatching someone's body language provides clues about how they are reacting to the conversation. Are they leaning in looking interested, or drifting away? Do they seem confused or excited by what you're saying? Paying attention to nonverbal cues can help you gauge if you need to clarify, elaborate, or change approaches.Manage EmotionsSometimes conversations can get heated, like if there is an argument or disagreement. When this happens, resist the urge to raise your voice or say hurtful things. Take a deep breath, speak calmly, and avoid placing blame. Use "I" statements to explain how you feel without accusing. Controlling your emotions prevents the situation from escalating.Know When to Take a BreakIf a conversation gets too tense or you're feeling overwhelmed, it's okay to take a break. Politely excuse yourselffor a short pause. Go to the restroom, get a drink of water, or just walk around a bit to reset before resuming the talk. A break can defuse a situation so you can approach it again morelevel-headed.Don't Forget to Listen AgainOnce you've had your say, the cycle of good communication begins again - listen carefully to the other person's response. Be prepared to clarify, ask follow up questions, or rephrase your point differently. Effective communication goes both ways until you both have a clear understanding.Practice, Practice, Practice!Like any skill, communicating well takes practice. The more conversations you have, the easier it becomes. If you're a shy person, start by speaking up more with family or close friends you feel comfortable around. Over time, practice communicating clearly in group settings too. Getting experience in different situations builds confidence.Communication allows us to better connect with others and be understood. By developing skills like active listening, speaking clearly, reading body language and managing emotions, you can become an effective communicator. It takes effort, but thebenefits of being able to share your thoughts and ideas are totally worth it! So keep practicing - you've got this!。
英语复习Unit one:(section A)1. He was fast asl eep when the thief broke into his house.2. A report came to the police, saying a little girl had been missing for two days.3. The second half of the performance will begin in two minutes, and you are kindlyasked to resume your seats.4. A(n) greenhouse is a glass building in which you grow plants that need to be protectedfrom bad weather.5. In recent years, the company has paid more attention to labor costs while keeping aneye on profit (利润).6. The girl by the counter tol d me that they have planes departing for New York every day.7. I like this house better because it is located (坐落于) in natural surroundings .8. He had expected to spend his life in America, but fate decided otherwise.翻译一:1. 你认为一个人要做些什么才能成为一个幸福的人?(to be a happy person)What d o you think one can do to be a happy person?2. 自从她去年离开上海去重新过她的农村生活后,我的心里一直很失落。
2020年全国硕士研究生入学统-考试英语(二)试题Section I Use or EnglishDirections:Read the following text. Choose the best word(s) for each numbered blank and mark A. B. C or D on the A NSWER SHEET. (10 points)Being a good parent is what every parent would like to be. But defining what it means to be a good parent is undoubtedly very 1 particularly since children respond differently lo the same style of parenting. A calm rule-following child might respond better to a different sort of parenting than 2 a younger one.3, there's another sort of parent that's easier to 4 ; a parent. Children of every age benefit from patient parenting. Still , 5 . every parent would like to be patient, this is no easy 6 . sometimes, parents gel exhausted and are unable to maintain a 7 style with their kids. 1 understand this.You're only human, and sometimes your kids can 8 you just a little too far. And then the9 happens: You lose your patience and either scream al your kids or say something that was too10 and does nobody any good. You wish that you could11 the clock and start over. We've all been there.12 even though it's common, it's vital to keep in mind that in a single moment of fatigue, you can say something to your child that you may13 for a long time. This may not only do damage to your relationship with your child but also14 your child's self-esteem.If you consistently lose your15 with your kids, then you are modeling a lack of emotional control for your kids. We are all becoming increasingly aware of the 16 of modeling patience for the younger generation. This is a skill that will help them all throughout life. In fact, the ability to maintain emotional control when17 by stress is one of the most significant of all life's skills.Certainly, it's18 lo maintain patience at all times with your kids. A more practical goal is to try to be as calm as you can when faced with19 situations involving your children. I can promise you this: As a result of working toward ibis goal, you and your children will benefit and 20 from stressfulmoments feeling better physically and emotionally.1.[A] pleasant [B]tricky [C] tedious [D] instructive2. [A] at once [B]in addition [C] for example [D] by accident3.[A] Fortunately (B] Occasionally [C] Accordingly [D]Eventually4. [A] amuse [B] train [C] assist [D] describe5. [A] once [B] because [C] unless [D| while6. [A] choice |B] answer [C] task [D] access7.[A] formal [B] tolerant [C] rigid [D] critical8.[A] move [B]send [C]drag [D] push9.[A] inevitable [B] illogical [C] mysterious [D] suspicious10.[A] boring [B] harsh |C] naive [D] vague11.[A] turn back [B] take apart [C] set aside [D] cover up12.[A] Overall [B] Instead [C] otherwise [D]However13.[A] believe [B] regret [C] miss [D] like14. [A] justify [B] raise [C] affect [D] reflect15.[A]bond [B]time [C]race [D]cool16.[A] nature [B]secret [C]context (D] importance17.[A] confronted [B]defeated [C]cheated (D] confused18.[A] strange [B]terrible [C] hard [D] wrong19.[A] exciting [B]trying [C]Surprising [D] changing20. [A] withdraw [B]hide [C]emerge [D]escapeSection II Reading ComprehensionPart ADirections: Read the following four texts. Answer the questions below each text by choosing /X.B.Cor D. Mark your answers on the A NSWER SHEET.(40 points)Text 1Rats and other animals need to be highly at tuned to social signals from others so that can identify friends to cooperate with and enemies to avoid. To find out if this extends to non-living beings, Loleh Quinn at the University of California, San Diego, and her colleagues tested whether rats can detect social signals from robotic rats.They housed eight adult rats with two types of robotic rat-one social and one asocial -for 5 our days.The robots rats were quite minimalist, resembling a chunkier version of a computer mouse with wheels-to move around and colorful markings.During the experiment, the social robot rat followed the living rats around, played with the same toys, and opened caged doors to lei trapped rats escape. Meanwhile, the asocial robot simply moved forwards and backwards and side to sideNext the researchers trapped the robots in cages and gave the rats the opportunity to release them by pressing a lever. Across 18 trials each, the living rats were 52 percent more likely on average to set the social robot free than the asocial one. This suggests that the rats perceived the social robot as a genuine social being. They may have bonded more with the social robot because it displayed behaviors like communal exploring and playing. This could lead lo the rats better remembering having freed it earlier, and wanting the robot to return the favour when they get trapped, says Quinn.The readiness of the rats lo befriend the social robot was surprising given its minimal design. The robot was the same size as a regular rat but resembled a simple plastic box on wheels. "We'd assumed w e'd have lo give its moving head and tail, facial features, and put a scene on it to make it smell like a real rat. but that wasn't necessary," says Janet Wiles at the University of Queensland in Australia, who helped with the research.The finding shows how sensitive rats arc to social cues, even when they come from basic robots. Similarly, children tend to treat robots as if they are fellow beings, even when they display only simple social signals. "We humans seem to be fascinated by robots, and it turns out other animals are too," says Wiles.21.Quinn and her colleagues conducted a test to see if rats can .[A]pickup social signals from non-living rats[B]distinguish a friendly rat from a hostile one[C]attain sociable trails through special training[D]send out warning messages to their fellow22.What did the social robot do during the experiment?[A]Il followed the social robot[B]It played with some toys.[C]It set the trapped rats free.[D]It moved around alone.23.According to Quinn, the rats released the social robot because they .[A] tried to practice a means of escape] expected it to do the same in return[C]wanted to display their intelligence[D]considered that an interesting game24.James Wiles notes that rats .[A] can remember other rat's facial features[B]differentiate smells better than sizes[C]respond more to cations than to looks[D]can be scared by a plastic box on wheels25.It can be learned from the text that rats .[A]appear to be adaptable to new surroundings[B]are more socially active than other animals[C]behave differently from children in socializing[D]are more sensitive to social cues than expectedText 2It is true that CEO pay has gone up-top ones may make 300 times the pay oftypical workers on average, and since the mid-1970s CEO pay for large publicly traded American corporations has. by varying estimates, gone up by about 500%. The typical CEO of a top American corporation now makes about S18.9 million a year.The best model for understanding the growth of CEO pay is that of limited CEO talent in a world where business opportunities for the top firms are growing rapidly. The efforts of America's highest-earning 1% have been one of the more dynamic elements of the global economy. It's not popular to say, but one reason their pay has gone up so much is that CEOs really have upped their game relative to many other worker; in the U.S. economy.Today's CEO, at least for major American firms, must have many mere skills than simply being able to "run the company". CEOs must have a good sense of financial markets and maybe even how the company should trade in them. They also need better public relations skills than their predecessors, as the costs of even a minor slip up can be significant. Then there's the fact that large American companies are much more globalized than ever before, with supply chains spread across a larger number of countries. To lead in that system requires knowledge that is fairly mind-boggling plus, virtually all major American companies are beyond this major CEOs still have to doall the day-to-day work they have always done.The common idea that high CEO pay is mainly about ripping people off doesn't explain history very well. By most measures, corporate governance has become a lot tighter and more rigorous since the 1970s. Yet it is principally during this period of stronger governance that CEO pay has been high and rising. That suggests it is in the broader corporate interest to recruit top candidates for increasingly tough jobs.Furthermore, the highest CEO salaries are paid lo outside candidates, not to the cozy insider picks, another sign that high CEO pay is not some kind of depredation at the expense of the rest of the company. And the stock market reacts positively when companies tie CEO pay to, say. stock prices, a sign that those practices build up corporate value not just for the CEO.26.Which of the following has contributed to CEO pay rise?[A]The growth in the number of corporations[B]The general pay rise with a belter economy[C]Increased business opportunities for top firms[D]Close cooperation among leading economiespared with their predecessors, today's CEOs are required to .[A]foster a stronger sense of teamwork[B]finance more research and development[C]establish closer ties with tech companies[D]operate more globalized companies28.CEO pay has been rising since the 1970s despite .[A]continual internal opposition[B]strict corporate governance[C]conservative business strategies[D]Repeated government warnings29.High CEO pay can be justified by the fact that it helps ..[A]confirm the status of CEOs[B]motivate inside candidates[C]boost the efficiency of CEOs[D]increase corporate value30.The most suitable title for this text would be .[A]CEOs Are Not Overpaid[B]CEO Pay: Past and Present[C]CEOs' challenges of Today[D]CEO Traits: Not Easy to DefineText 3Madrid was hailed as a public health beacon last November when it rolled out ambitious restrictions on the most polluting cars. Seven months and one election daylater, a new conservative city council suspended enforcement of the clean air zone, a first step toward its possible demise.Mayor Jose Luis Martinez-Almeida made opposition to the zone a centerpiece of his election campaign, despite its success in improving air quality. A judge has now overruled the city's decision to stop levying fines, ordering them reinstated. Bui with legal battles ahead, the zone's future looks uncertain at best.Among other weaknesses, the measures c ities must employ when left to tackle dirty air on their own are politically contentious, and therefore vulnerable. That's because they inevitably put the costs of cleaning the air on to individual drivers-who must pay tees or buy better vehicles-rat her than on to the car manufacturers whose cheating is the real cause of our toxic pollution.It's not hard to imagine a similar reversal happening in London. The new ultra-low emission zone (Ulez) is likely to be a big issue in next year's mayoral election. And if Sadiq Khan wins and extends it to the North and South Circular roads in 2021 as he intends, it is sure to spark intense opposition from the far larger number of motorists who will then be affected.It's not that measures such as London's Ulez arc useless. Far from iL Local officials are using the levers that are available to them to safeguard residents' health in the face of a serious threat. The zones do deliver some improvements to air quality, and the science tells us that means real health benefits -fewer heart attacks, strokes and premature births, less cancer, dementia and asthma. Fewer untimely deaths.But mayors and councilors can only do so much about a problem that is far bigger than any one city or town.They are acting because national governments-Brilliant’s and others across Europe-have failed to do so.Restrictions that keep highly polluting cars out of certain areas -city centers, "school streels", even individual roads-are a response to the absence of a larger effort to properly enforce existing regulations and require auto companies to bring their vehicles into compliance. Wales has introduced special low speed limits to minimize pollution. We' re doing even-thing but insist that manufacturers clean up their cars.31.Which of the following is true about Madrid's clean air zone?[A]Its effects are questionable[B]It has been opposed by a judge[C]It needs tougher enforcement[D]Its fate is yet to be decided32.Which is considered a weakness of the city-level measures to tackle dirty air?[A]They are biased against car manufacturers.[B]They prove impractical for city councils.[C]They are deemed too mild for politicians.[D]They put too much burden on individual motorists.33.The author believes that the extension of London's Ulez will .[A]arouse strong resistance.[B]ensure Khan's electoral success.[C]improve the city's traffic.[D]discourage car manufacturing.34.Who does the author think should have addressed the problem?[A]Local residents[B]Mayors.[C]Councilors.[D]National governments.35.Il can be inferred from the last paragraph that auto companies .[A]will raise low-emission car production[B]should be forced to follow regulations [CJ will upgrade the design of their vehicles [D] should be put under public supervisionText 4Now that members of Generation Z are graduating college this spring-the most commonly-accepted definition says this generation was born after 1995. give or take a year-the attention has been rising steadily in recent weeks. GenZs are about to hit the streets looking for work in a labor market that's lighter than it's been in decades. And employers are planning on hiring about 17 percent more new graduates for jobs in the U.S. this year than last, according to a survey conducted by the National Association of Colleges and Employers. Everybody wants to know how the people who will soon inhabit those empty office cubicles will differ from those who came before them.If "entitled" is the most common adjective, fairly or not, applied lo millennials (those born between 1981 and 1995), the catchwords for Generation Z are practical and cautious. According to the career counselors and experts who study them, Generation Zs are clear-eyed, economic pragmatists. Despite graduating into the best economy in the past 50 years. Gen Zs know what an economic train wreck looks like. They were impressionable kids during the crash of 2008, when many of their parents lost their jobs or their life savings or both. They aren't interested in taking any chances. The boom economy seems to have done little to assuage this underlying generational sense o f anxious urgency especially for those who have college debt, College loan balances i n the U.S. now stand at a record $l. 5 trillion, according to the Federal Reserve.One survey from Accenture found that 8 percent of graduating seniors this yearchose their major with a job in mind. In a 2019 survey of University of Georgia students, meanwhile, the career office found the most desirable trait in a future employer was the ability to offer secure employment(followed by professional development and training, and then inspiring purpose). Job security or stability was the second most important career goal(work-life balance was number one),followed by a sense of being dedicated to a cause or to feel good about serving the greater good.36. Generation Zs graduating college this spring[A] are recognized for their abilities[B] are in favor of job offers[C] are optimistic about the labor market[D] are drawing growing public attention37. Generation Zs are keenly aware[A] what a tough economic situation is like[B] what their parents expect of them[C] how they differ from past generations[D] how valuable a counselor’s advice is38. The word "assuage"(line 9, para 2) is closet in meaning to[A] define[B] relieve[C] maintain[D] deepen39. It can be learned from Paragraph 3 that Generation[A] care little about their performance[B] give top priority to professional training[C] think it hard to achieve work-life balance[D] have a clear idea about their future job40. Michelsen thinks that compared with millennials, Generation ZS are[A] less realistic[B] less adventurous[C] more diligent[D]more generousPart BDirections: Read the following text and answer the questions by choosing the most suitable subheading from the list A-G for each numbered paragraph (41-45). There are two extra subheadings, w hich you do not need to use. Mark your answers on the ANSWER SHEET. (10 points)[A] Give compliments, just not too many.[A]Put on a good face, always.[B]Tailor your interactions.|D] Spend time with everyone.[D]Reveal, don't hide, information.[E]Slow down and listen.[F]Put yourselves in others, shoes.Five Ways to Win Over Everyone in the OfficeIs it possible to like everyone in your office? Think about how tough it is to get together 15 people, much less50, who all get along perfectly. But unlike in friendships, you need coworkers.You work with them every day and you depend on them just as they depend on you.Here are some ways that you can get the whole office on your side.41. _____If you have a bone to pick with someone in your workplace, you may try staylight-lipped around them. But you won't be helping either one of you A Harvard Business School study found that observers consistently rated those who were frankabout themselves m ore highly, while those who hid lost trustworthiness. The lesson isnot that you should make your personal life an open book, but rather, when given theoption to offer up details about yourself or painstakingly conceal them. you shouldjust be honest.42._____lust as important as being honest about yourself is being receptive to others. Weoften feel the need to tell others how we feel, whether it's a concern about a project, astray thought, or compliment. Those are all valid but you need to take time to hear outyour coworkers, too. In fact, rushing to get your own ideas out there can cause colleagues to feel you don’t value their opinions. Do your best to engage coworkers ina genuine, back-and-forth conversation, rather than prioritizing your own thoughts.43._____It's common to have a "cubicle mate" or special confidant in a work setting. Butin addition to those trusted coworkers, you should expand your horizons and find outabout all the people around you. Use your lunch and coffee breaks to meet up with colleagues you don't always see. Find out about their lives and interests beyond thejob. It requires minimal effort and goes a long way. This will help to grow yourinternal network, in addition to being a nice break in the work day44. _____Positive feedback is important for anyone to hear. And you don't have to be someone’s boss tell them theydid an unexceptional job on a particular project. This will help engender good will init or be fake about it. One study found that people responded others. But don’t over dobest comments that shifted from negative to positive, possibly because i t suggested they had won somebody over.45. _____This one may be a bit more difficult to pull off, but it can go a long way to achieving results. Remember in dealing with any coworker what they appreciate from an interaction. Watch out for how they verbalize with others. Some people like small talk in a meeting before digging into important matters, while other are more straightforward. Jokes that work one person won't necessarily land with another. So, adapt your style accordingly to type. Consider the person that you' re dealing with in advance and what will get you to your desired outcome.Section II Translation46. Directions:Translate the following text from English into Chinese. Write your translation on ANSWER SHEET(15 points)It's almost impossible to go through life without experiencing some kind of failure. But, the wonderful thing about failure is that it's entirely up to us to decide how to look at it.We can choose to see failure as "the end of the world." Or, we can look at failure as the incredible learning experience that it often is. Every time we fail at something,we can choose to look for the lesson we' re meant to learn. These lessons are very important; they' re how we grow, and how we keep from making that same mistake again. Failures stop us only if we let them.Failure can also teach us things about ourselves that we would never have learned otherwise. For instance, failure can help you discover how strong a person you are. Failing at something can help you discover your truest friends, or help you find unexpected motivation to succeed.Section III WritingPart A47.Directions: Suppose you are planning a tour of a historical site for a group of international students. Write an email to1)tell them about the site, and2)give them some tips for the tour Please write your answer on the ANSWER SHEET.Do not use your own name, use "Li Ming" instead (10 points)Part B48.Directions: Write an essay based on the following chart. In your writing, you should1)interpret the chart and2)give your comments.You should write about 150 words on the ANSWER SHEET.(15 points)2020考研英语二真题及答案1、tricky2、forexample3、fortunately4、assist5、while6、task7、tolerant8、push9、inevitable10、harsh11、turnback12、however13、regret14、affect15、cool16、importance17、confronted18、hard19、changing20、escape1-20答案:DCBDC CBCAB ADBCA DBCCCtext 121.A.pick up social signals from non-living rats22.D.It moved around alone.23.B.expected it to do the same in return24.C.respond more to actions to looks25. D.are more sensitive to social than expectedtext 226. D.increased business opportunities for top firms27. A.operate more globalized companies28. C.strict corporate governance29.A.increase corporate value30. B.CEOs are not overpaidtext 331.B. Its fate is yet to be decided32. C. They put the burden on individual motorists.33.D. arouse strong resistance34.D. national governance35.A. should be forced to follow regulationstext 436. C.are drawing growing attention37. B.what a tough economic situation is like38. C.relieve39. A.have a clear idea about future jobs.40. Lessadventurous2020考研英语二真题及答案:新题型阅读41. Reveal,don’t hide information42. Slowdown & listen43. Spendtime with everyone44. Givecompliment just not too often45. tailor your interaction21-45答案:ADBBDDDCAA BCDDACBCAC FGEBD翻译题参考答案:人的一生总要经历一些失败。
感顿市安乐阳光实验学校Being a Teenager-------(必修1 unit 1 冀教版)知识总结Read the following first and then answer the questions after it(or have a discussion).Teenagers speak of themselvesOn parents, teachers and the generation gap. The generation gap (代沟)is widening but it seems they(parents and teachers)don't care. Most of them think they're always right and are always shouting "shut up" at us. My parents just can't forget those silly mistakes I made in primary school(小学)and continue to suggest that I'm devoid of any merits (没有一点优点).They never show any appreciation(欣赏)when I make progress. They always peer in at(偷看)my room, looking as if they care about me a lot, but they never ask, "Hey boy! What are you thinking about these days? "I want more conversations, conversations on an equal level with adults. At present, they're only telling me things, not listening to me.Questions: l. How are you getting on with your parents or teachers?2. What do you expect from parents or teachers?常言说,行为决定习惯,习惯决定性格,性格决定命运。
新视野英语教程第三册课后答案新视野英语教程第三册课后答案Unit 1 Section A Reading out(1)grew up (2) greenhouse (3) feeding (4) gathering (5) into (6) labor Getting the message1. The writer wrote in paragraph 1 that \never found its way into my vocabulary\was a labor of love\2. The writer's father suffered a serious heart attack and was diagnosed with having heart disease.3She felt them, on the one hand, different and strange, and on the other, exciting and fun.4. Because she decided to take on her career as an actress in Los Angeles.5. The writer's mother decided to go back to Arizona and resumed her life there.6.She means that for some reason or other she began to feel unsatisfied with her life in Los Angeles and that no matter what she tried, she could not get rid of this feeling of emptiness.7. She found out the cause of her unhappiness by recalling when she was happiest and asking herself what was important to her.8. It was nestled in a warm and sunny valley with pear trees in the yard. and sunny valley with pear trees in the yard. Using the right word 1) asleep (2) missing (3) resume (4) greenhouse (5) labor (6) departing (7) surroundings (8) fateWorking with expressions1) from (2) up (3) As (4) through (5) from (6) with (7) on (8) as Focusing on sentence structureA 1. It has been hard to adjust to the idea that I was a junior clerk It has been hard for me to adjust to the idea of being a junior clerk.2. His illness accounted for (解释) the fact that he was not here yesterday.His illness accounted for his not being here yesterday.3. According to the passage, the writer's diving gave him a sense that he was successfulAccording to the passage, the writer's diving gave him a sense of being successful.B 1. I never had any difficulty passing math tests. Passing math tests was never difficult for me.2. I felt a great pleasure helping you.Helping you was a great pleasure for me.3. I experienced a great joy seeing you back home. Seeing you back home was a great joy to me. Translating1.What do you think one can do to be a happy person?2. Since she left Shanghai and resumed her life in the country last year,a void has found its way into my heart.3. It didn't even cross my mind that he would win the first prize.4. I grew up in a big city, so the rat race is no longer new to me.1. 慢慢地,我心里产生了一种阴暗的空虚感,它开始吞噬我的幸福。
Read for Fun: Charlotte's WebChapters 1 & 2 & 3Before Breakfast & Wilbur & Escape Date: _______/_______/ 2013Introductionaboutthe author Name: E. B. WHITE Nationality: Major Works:Questionsfor discussion (P1-15)Detailed questions:Q1: Why did Fern’s dad want to do away with the pigQ2: Why did Fern think it was unfair to kill the pigQ3: What was Fern’s parents’ decisionWhat do you think of Fern’s parentsQ4: How did Fern look after WilburQ5: Why did Fern’s dad decide to sell WilburMy questions:Q1:Q2:Read for Fun: Charlotte's WebChapters 4 & 5 & 6Loneliness & Charlotte & Summer DaysDate: _________/_________/ 2013Questionsfor discussion (P31-46)Detailed questions:Q1: Why was Wilbur unhappy when he found it was rainyWhat do you think of Wilbur’s plansQ2: What was wrong with Wilbur on page 34Q3: Why did Wilbur feel lonelyQ4: Why couldn’t Wilbur sleepQ5: What do you think of CharlotteOpen questions:Q1: Do you like to make plans Is it good or notAfterreading, Ithink…NotesRead for Fun: Charlotte's Web Chapters 7 & 8 & 9Bad News & A Talk at Home & Wilbur’s Boast Date: _________/_________ / 2013Questionsfor discussion(P64-72)Detailed questions:Q1: Why did Wilbur like Charlotte more and more each dayQ2: What’s the bad news for Wilbur Who told him the bad newsQ3: How did Wilbur react when he heard the bad newsQ4: Who promised to save WilburQ2:NotesRead for Fun: Charlotte's WebChapters 10 & 11 & 12An Explosion & The Miracle & A MeetingDate: _________/_________ / 2013Questionsfor discussion (P88-101)Detailed questions:Q1: Read the first paragraph (P89) again and discuss what were the keys for Charlotte to solving problems.Read for Fun: Charlotte's WebChapters 13 & 14 & 15Good Progress & Dr Dorian & The CricketsDate: _________/_________ / 2013Questions for discussion (P121-137)Detailed questions:Q1: What was the second miracleWhat did Mr. Zuckerman ask his wife to doafter seeing the second miracleWhat did Mr. Zuckerman ask Lurvy to do afterseeing the second miracleWhat did the letters painted on the crate sayQ2: What was it going to mean for Lurvy to have a famous pig to take care ofDo you think that Lurvy was happy to have suchan important pig If you were Lurvy, how wouldyou feelQ3: What did Templeton carry in his mouth when hereturned to the barn from the dumpRead for Fun: Charlotte's WebChapters 16 & 17 & 18Off to the Fair & Uncle & The Cool of the EveningDate: _______/_______/ 2013Read for Fun: Charlotte's WebChapters 19 & 20The Egg Sac & The Hour of TriumphDate: ________/_______ / 2013Questionsfor discussion (P189-203)Detailed questions:Q1: How does the author describe the coming ofa morningWhat objects are mentioned in describing morningQ2: Did Wilbur see a curious object next to Charlotte What is itWas Charlotte happy about the egg sac WhyQ3: What was Templeton like after a night at the fairWhy How did Charlotte think about thatWhat news did Templeton bring WilburRead for Fun: Charlotte's WebChapters 21 & 22Last Day & A Warm WindDate: _________/_________ / 2013Questionsfor discussion (P215-226)Detailed questions:Q1: How did Charlotte feel after Wilbur was back with the medal WhyHow did Charlotte describe the future season Wilbur would experience What kind of feeling do you have when you read these words WhyQ2: Why did Charlotte do all that for Wilbur at the cost of her life What did Wilbur say after he knew the reasonQ3: Would Charlotte be going back to the barn Why How did Wilbur feel when he knew Charlotte’s dyingQ4: When Wilbur was in great sorrow, what idea suddenly hit himWas it easy or difficult for Wilbur to take the egg sac back Did he make it HowWhat is Templeton like。
HOW DO DIFFERENT EXPORTERS REACT TO EXCHANGERATE CHANGES?∗Nicolas BermanPhilippe Martin†Thierry MayerJuly19,2011Forthcoming in the Quarterly Journal of EconomicsThis paper analyzes the heterogenous reaction of exporters to real exchange rate changes using a very rich Frenchfirm-level dataset with destination-specific export values and volumes on the period1995-2005.Wefind that high-performancefirms react to a depreciation by increasing significantly moretheir markup and by increasing less their export volume.This heterogeneity in pricing-to-market isrobust to different measures of performance,samples and econometric specifications.It is consistentwith models where the demand elasticity decreases withfirm performance.Since aggregate exports areconcentrated on high productivityfirms,precisely those that absorb more exchange rate movements intheir markups,heterogenous pricing-to-market may partly explain the weak impact of exchange ratemovements on aggregate exports.JEL Codes:F12,F14,F31I IntroductionMovements of nominal and real exchange rates are large.They however have a modest effect on aggregate variables such as import prices,consumer prices,and the volumes of imports and exports.The sensitivity, or rather lack of,of prices to exchange rate movements has been documented by Goldberg and Knetter ∗We thank the referees and the editor for very insightful comments.We also thank Anders Akerman,Andrew Atkeson, Ariel Burstein,Paula Conconi,Giancarlo Corsetti,Arnaud Costinot,Mario Crucini,Linda Goldberg,Gita Gopinath,Samuel Kortum,Francis Kramarz,Florian Mayneris,Marc Melitz,Gianmarco Ottaviano,Steve Redding,David Weinstein and participants at several seminars for helpful comments.This project was initiated when Nicolas Berman was working at the CREST-INSEE.We are very grateful Linda Goldberg who provided us the data on distribution costs.Philippe Martin and Thierry Mayer thank the Institut Universitaire de France forfinancial help.This paper is produced as part of the project European Firms in a Global Economy:Internal policies for external competitiveness(EFIGE),a Collaborative Project funded by the European Commission’s Seventh Research Framework Programme,Contract number225551.†Corresponding author:Sciences-Po,Department of Economics,28rue des Saints-Peres,75007Paris,France.email: philippe.martin@sciences-po.fr(1997)and Campa and Goldberg(2005and2010)who provide estimates of the pass-through of exchange rates into import prices.Moreover,the evidence of Gopinath and Rigobon(2008)suggests that price rigidities cannot fully explain this phenomenon.On the quantity side,the elasticity of aggregate exports to real exchange rate movements is typically found to be low in industrialized countries,a bit below unity for example in Hooper,Johnson,and Marquez(2000)and rarely above2in others studies.In international real business cycle models,the elasticity used for simulations is typically between0.5and2.In the vast literature on exchange rate pass-through there is very little evidence that links pricing to market tofirm-level characteristics.In this paper,we attempt to do this and document the heterogeneity in the response,in prices and volumes,of exporters to exchange rate movements.We also analyze how this heterogeneity may help explain the lack of response of aggregate variables to these movements.We find that higher performancefirms tend to absorb exchange rate movements in their markups so that their export volumes are less sensitive.We document this heterogeneity using a very richfirm-level dataset with destination-specific export values and volumes from the French Customs and other information on firm performance at annual frequency.We use this dataset for the1995-2005period to exploit variation across both years and destinations.To our knowledge,our paper is thefirst to exploit such detailed data to document the reaction offirms to exchange rate movements in terms of prices,quantities,entry and exit and to analyze how heterogeneousfirms react differently to exchange rate movements.1A big advantage of our dataset is that we have information on unit values that can proxy for the Free-On-Board (FOB)price at the producer/destination level.We can infer the impact of an exchange rate change on the pricing strategy of the exporter for different types of exporters.Our paper is therefore complementary to existing studies on pricing-to-market and pass-through that use information on import prices2(which contain transport costs)or consumer prices3(which also contain distribution costs).Our regressions yield the following results:for our preferred sample,following a10%exchange rate depreciation4,the average exporter increases its export price(in euro)by0.8%.A one standard deviation increase in performance (TFP or labor productivity)raises this number to1.3%for TFP and3%for labor productivity.On the other hand,the average exporter increases its export volumes by around4%but this elasticity falls to 2.8%when TFP increases by one standard deviation.This heterogeneity is robust to different estimation methods,samples and measures of performance.In particular,we alsofind that largerfirms absorb more 1Berthou and Fontagn´e(2008)use the same data to analyze the effect of the creation of the euro on French exports.2See for example Gopinath and Itskhoki(2010),Gopinath,Itskhoki and Rigobon(2009),Halpern and Koren(2007).3See Crucini and Shintani(2008)and Gopinath,Gourinchas,Hsieh and Li(2009)for example.4The exchange rate here is defined as the price of the domestic currency(euro)in units of the foreign currency.A depreciation means that the exchange rate increases.exchange rate variations in their markups.For the highest decile in terms of size,exporters increase their export price by2.5percent following a10percent depreciation of the exchange rate.No pricing-to-market is detected for the lowest decile.To our knowledge,our paper is also thefirst to document the impact of exchange rate changes on entry and exit in different destinations.Wefind that following a10% depreciation with respect to the currency of a country,the probability of exporters to enter this market increases by2percentage points.Variable and heterogenous pricing-to-market can emerge in different models:a linear demand sys-tem where the demand elasticity increases with the price(as in Melitz and Ottaviano,2008),imperfect competition`a la Cournot where higher performancefirms have larger market share(as in Atkeson and Burstein,2008)or local additive distribution costs(as in an extension of Corsetti and Dedola,2005, which we detail in appendix).Our empiricalfindings validate this class of models.We alsofind evidence, consistent with the distribution costs model,that more pricing-to-market is observed for consumer goods than for intermediate goods and more generally for sectors with higher distribution costs:following a 10%depreciation,exporters of consumer goods increase their price(in euro)by2.0%whereas exporters of intermediate goods increase their price by0.7%only.The heterogeneity in the pricing-to-market strategy is also noteworthy because of its possible im-plications for the aggregate effects of exchange rate movements.The presence offixed costs to export generates a selection mechanism through which only the best performers are able to export.Heterogene-ity in productivity implies that a very large share of aggregate exports is made by a small portion of high performance and largefirms.Hence,exporters,and even more so large exporters,are,by this selection effect,firms which optimally choose to partially absorb exchange rate movements in their markups.Also, heterogeneity in productivity means thatfirms that enter the export market due to a depreciation are less productive and smaller than existing ones.The impact of entry at the aggregate level is therefore small both at the intensive and extensive margins.We illustrate these aggregate implications of heterogeneity in a model with local distribution costs.Our paper is related to the literature on incomplete exchange rate pass-through and pricing-to-market5. These papers(see for example Gopinath and Rigobon,2008)find a low level of exchange rate pass-through into import prices whereas wefind a high pass-through for export prices.Other related papers are Dekle, Jeong and Ryoo(2009)and Imbs and Mejean(2009)who show that the aggregation of heterogenousfirms or sectors can result into an aggregation bias in the estimation of the elasticity of exports to exchange5See for example in addition to those already cited,the recent contributions of Auer and Chaney(2009)and Nakamura and Steinsson(2009).rate changes.Several papers6have estimated pass-through for particular industries allowing for variable markups such that the pass-through depends on thefirm’s market share.There are however few empirical contributions on pricing-to-market,exchange rate and exportflows using exporter-level data7.Martin and Rodriguez(2004)find that Spanishfirms do react to a depreciation by raising their markup.Hellerstein (2008)uses a detailed dataset with retail and wholesale prices for beer andfinds that markup adjustments by manufacturers and retailers explain roughly half of the incomplete pass-through.However,these studies do not analyze the heterogeneity and the exporter-level determinants of pricing-to-market which is the focus of our paper.The remainder of the paper is organized as follows.Section II surveys different theoretical mechanisms through which heterogenous pricing-to-market can arise.Section III presents the dataset,the empirical methodology and the main empiricalfindings on the prices and quantities reactions of different exporters to exchange rate movements.Section IV analyzes some aggregates implications and section V concludes.II Models with heterogenous pricing-to-marketSeveral mechanisms can generate an endogenous and heterogenous strategy of pricing-to-market where firms with better performance absorb exchange rate movements in their markups more thanfirms with weaker performance.In these models both a higher productivity–at thefirm level–and a real depreciation –at the aggregate level–weaken the elasticity of demand as perceived by exporters.Faced with a real depreciation,exporters react by increasing their markup the more so the higher their performance.These models therefore share the property of endogenous and variable markups.We present below three recent models that do generate such heterogenous pricing-to-market.In Melitz and Ottaviano(2008),a linear demand system with horizontal product differentiation implies that in contrast to the case of constant elasticity of substitution(CES)demand,the price elasticity of demand increases with the price faced by consumers.8Hence,high productivityfirms(low pricefirms) face a lower demand elasticity.When all exporters in the Home country benefit from a fall in the relative cost of production(a real exchange rate depreciation with respect to a specific destination),prices faced by6See Feenstra,Gagnon and Knetter(1996)on pass-through for automobiles,Goldberg and Verboven(2001)on pass-through in the European car market(2001),and Nakamura and Zerom on coffee(2010).7Other papers analyze different aspects offirms reactions to exchange rate shocks.Gourinchas(1999),evaluates the impact of exchange ratefluctuations on inter-and intra-sectoral job reallocation.Ekholm,Moxnes and Ullveit-Moe(2008)study firms’response to the appreciation of the Norwegian Krone in the early2000s with respect to employment,productivity,and offshoring.Verhoogen(2008)finds that following the1994peso crisis,initially more productive plants increased the export share of sales more than others.8Note that this would also be the case in models of Bergin and Feenstra(2001)and Rodriguez Lopez(2011)with translog preferences,consumers fall and exporters react by increasing their markup on this destination so that there is pricing to market and incomplete pass-through of changes in costs to import prices.High productivityfirms increase their markup more than others.This endogenous and heterogenous pricing-to-market property of the Melitz and Ottaviano(2008)model is shown in appendix A.1.1.Atkeson and Burstein(2008)provide a model with Cournot competitors,faced with a nested CES demand over several sectors.Critically,they assume that the elasticity of substitution between sectors is lower than the one inside each industry.In this setup,higher performancefirms have larger market shares in a sector.Due to imperfect competition`a la Cournot,firms with a larger market share face a lower demand elasticity.At one extreme,if afirm has a market share approaching zero,it perceives a high elasticity of substitution within its own sector.At the other extreme,if afirm has a market share approaching one in its industry,the elasticity of demand it perceives is the elasticity across sectors,lower than the elasticity within.High performance(high market share)firms hence perceive a lower demand elasticity and have a higher markup.When faced with a real exchange rate depreciation,Homefirms see their market share expand,and react by increasing their markup.When simulating their general equilibrium model,they show thatfirms with a larger market share price more to market in response to a real exchange rate change(see theirfigure3,p2022).Heterogenous pricing-to-market is therefore a key feature of their model.A third mechanism is based on the presence of distribution costs in a model that we analyze in detail in appendix A.1.2.The model is an extension of Corsetti and Dedola(2005)withfirm heterogeneity.In the presence of additive(per unit)distribution costs paid in local currency,the demand elasticity perceived by the exporter falls with a real exchange rate depreciation and the productivity of thefirm.The reason is that both imply a fall in the import price in the currency of destination.Because distribution costs are not affected by a depreciation(local distribution costs are paid in local currency)or an increase in the exporter’s productivity,the share in the consumer price that depends on the export price falls with the depreciation of the exporter’s currency.This itself reduces the elasticity of demand perceived by thefirm to its exporter price.Exporters with a higher productivity increase their export price more than others. This heterogenous pricing-to-market behavior where high performancefirms absorb real exchange rate movements also holds in a version of the model in whichfirms differ in the quality of the goods they export(see appendix).In this case,firms that export higher quality goods(and have higher value added per worker)also react to a depreciation by a larger increase of their exporter price.In section III.F.,we test some predictions which are specific to the model with distribution costs.We now characterize the common testable predictions of these models for export prices and volumes9. Let us denote p i(ϕ)the export price expressed in Home currency of afirm with performance or productivity ϕexporting to country i,and q i the real exchange rate between the Home country and country i:Testable Prediction 1.The elasticity of the exporter price p i(ϕ)to a real exchange rate change,e pi (ϕ)=dp i(ϕ)dq iq ip i(ϕ),a measure of pricing-to-market,increases with the performance of thefirm,ϕ.In the three models we described above,the elasticity of demand perceived by exporters decreaseswith both the productivity of thefirm and a depreciation of the exchange rate.This is a key ingredient for the result that high productivityfirms increase more their markup following a depreciation(Testable prediction1).The general condition for this result to hold is given in appendix A.1.3.The elasticity of demand,the way the elasticity of demand depends on productivity,and the way the elasticity of this elasticity depends on productivity all enter this condition.The heterogenous pricing-to-market logically generates heterogenous reactions of export volumes to a real depreciation.The higher the export price elasticity to exchange rate movements,the lower the export volume elasticity to the same exchange rate movement.The elasticity of the volume of exports x i(ϕ)between the Home country and country i is therefore specific to eachfirm.Testable Prediction2.The elasticity of thefirm’s export volume x i(ϕ)to a real exchange rate change,e xi (ϕ)=dx i(ϕ)dq iq ix i(ϕ),decreases with the performance of thefirm,ϕ.The elasticity of the value of exports(in Home currency)to exchange rate change of afirm withproductivityϕis the sum of the elasticities e pi (ϕ)+e xi(ϕ).Given that one is increasing in performanceand the other is decreasing in performance,the net result is ambiguous and this is the reason we focus, at thefirm level,on the reaction of volumes.9In these models,the choice of currency of invoicing is not considered but the optimal choice of the degree of pricing to market is implicitly similar.Engel(2006)shows that the case of no pricing to market(which implies complete pass-trough)is similar to producer currency plete pricing to market and zero pass-through is similar to local currency pricing. Using Irish data,Fitzgerald and Haller(2010)find that for prices invoiced in destination currency,the desired relative markups move one-for-one with exchange rate changes.Goldberg and Tille(2009)find that larger transactions are more likely to be invoiced in the importer’s currency,reflecting pricing-to-market.III Empirics:firm-levelIII.A.DataWe test the predictions of models with heterogenous pricing-to-market using a large database on French firms coming from three different sources10:1.The French customs forfirm-level trade data,which reports exports for eachfirm,by destinationand year.This database reports the volume(in tons)and value(in euros)of exports for each 8-digit product(combined nomenclature)11and destination,for eachfirm located on the French metropolitan territory.Unit values are simply computed as the ratio of export value divided by export volume.Some shipments are excluded from this data collection.Inside the European Union (EU),firms are required to report their shipments by product and destination country only if their annual trade value exceeds the threshold of150,000euros.For exports outside the EU allflows are recorded,unless their value is smaller than1000euros or one ton.Those thresholds only eliminatea very small proportion of total exports.2.A balance sheet dataset called BRN which contains other relevantfirm-level information,includingfirms’sales,value added,employment,capital,sector of main activity,and other balance-sheet variables.The period for which we have the data is from1995to2005.The BRN database is constructed from mandatory reports of Frenchfirms to the tax administration,which are in turn transmitted to INSEE(the French Statistical Institute).The customs database is virtually exhaustive,while the BRN contains between650,000and750,000firms per year over the period (around60%of the total number of Frenchfirms).A more detailed description of the database is provided by Eaton,Kortum and Kramarz(2004and2011).Depending on the year,thesefirms represent between90and95%of French exports contained in the custom data.3.Macroeconomic variables come from the Penn World tables and the IMF’s International FinancialStatistics.10A more detailed description of the data and construction of variables is given in Appendix A.2.1.11Most countries in the world have adopted the Harmonized System(HS),which is a6-digit classification of all goods traded. Each country can,however,provide additional detail(8-and10-digit)if they decide to.The Combined Nomenclature(CN) is the EU version of HS at the8digit.The USA go directly from the6-digit level to the tariffline level(10-digit,labeled HTSA).The productivity of thefirm is proxied either by its TFP or by its apparent labor productivity.12 We also use as alternative performance indicators the rank of the product in thefirm’s exports and the number of export destinations.We restrict our sample to non-Eurozone destinations13,to focus on destinations characterized by a sufficient level of variance of the real exchange rate.Finally,we restrict the observations tofirms for which the declared main activity belongs to manufacturing.This notably excludes wholesalers.When testing our predictions,the existence of multi-productfirms must be taken into account.This is particularly true for our prediction on export prices.When faced with an“easier”destination market (through trade liberalization or depreciation of its currency),a multi-productfirm will have a tendency to increase the number of products exported to this market(Bernard,Redding and Schott,2010)and to flatten the distribution of its sales,giving less weight to its best products(Mayer,Melitz and Ottaviano, 2011).Those effects14could interfere with the identification of our predictions.In order to isolate precisely the predictions of heterogenous pricing-to-market,uncontaminated by changes in average prices coming from product composition,we therefore want to hold as constant as possible the product range and the product mix in our sample,in order to neutralize this composition issue.One solution is to restrict the sample tofirms that only export one product to a given destination. This is less restrictive than it might seem.For instance,if a manufacturer exports ten different products to Germany,we lose those observations,but we keep all destinations/years for which only one product is exported by this samefirm.The composition issue vanishes,but the disadvantage of this solution is to reduce importantly the coverage of the sample,since single product/destination observations represent a small share of total French exports.In order to minimize this representativeness issue,a solution is to sum allflows for a given exporter but the product composition problem is then maximized.Another alternative is to consider exports at thefirm-product level(the most disaggregated8-digit product classification). Both the product composition and representativeness issues are then eliminated,but a new issue arises on the measurement of performance as we cannot measure productivity directly at the product-level.12Apparent labor productivity is computed as the ratio of value added per worker.TFP is estimated sector by sector using Olley and Pakes(1996)methodology(see appendix for details).As shown later,we have checked the robustness of the results using an alternative measure of TFP,as well as other performance indicators(valued added,number of employees, number of destinations).13After dropping these countries and merging with the different macro variables,our sample contains147destinations. 14See Chatterjee,Dix-Carneiro,and Vichyanond(2010)for a model combining multi-productfirms and heterogenous pricing-to-market which they test on brazilian data.Theyfind that following a depreciation,the number of exported goods increases and that the share of the top products falls relative to the others.No sample is therefore an ideal solution to our estimation issues,and we experiment with different variants of sample selection.Our mainfinding of heterogenous pricing-to-market holds for all the samples we use.Table I shows the representativeness of each sample.Ourfirst sample(column1)contains single product/destination observations.Note that mostfirms(including multi-product exporters)are still present in the database:while these observations only represent12%of total French export value,the export value offirms in this sample account for95%of French exports.The second sample(column2) keeps only the top product exported by thefirm worldwide in value.This greatly improves the coverage of the sample which represents now50%of total French exports(33%in column3where we define top product as the one exported to the largest number of destinations).Variants of this include keeping only thefirms/destinations that have a constant number of products(column4),or that export only one product,but defined at the4-digit level(column5).Column6presents sample characteristics when we aggregate unit values and export volumes at thefirm level,while the last column presents the fully (firm-product)disaggregated case.Table I:Sample representativeness(1)(2)(3)(4)(5)(6)(7)Sample Singleproduct MainProduct(val.)MainProduct(dest.)StableMixSingleNC4FirmlevelFirm-productlevel#Observations22337471986364287554723354372650444419336812489069 #Firms263509284169284169264040268589284169284169%French export value(a)12%50%33%14%18%100%100%%French export val.byfirms in sample(b)95%100%100%96%96%100%100% Note:Authors’computation from French customs data,1995-2005.(a):Share of total French exports(minus Eurozone)present in this subsample;(b):Share of total French exports(minus Eurozone)byfirms present in this subsample.Table II contains descriptive statistics for these different samples.We report information on positive exportflows,i.e.forfirms which export at least once during the period1995-2005.For clarity,we only report value added per worker as a measure offirm performance as it is easier to interpret than TFP for which similar patterns emerge.Value added per worker is stable across samples,suggesting that choosing one sample or another should not generate strong biases in favor of high or low performance firms.Average changes in unit values and volumes are reasonable15:average growth rates of unit values15Unit values and export volumes can be noisy.Hence,we dropped some outliers:the observations for which the yearly growth rate of one of these variables was in the top or bottom1%of the distribution,computed by sector and year.are between0.7and1.7%depending on the sample.Volumes are slightly more variable,between-2.6and 3.0%.These differences are however mainly due to a small number of large negative growth rates:the median of both unit values and volumes is positive in all samples.III.B.Firm-level MethodologyOurfirst testable prediction is thatfirms of the Home country(France)react to currency movements by absorbing part of them in their exporter price,the more so the higher the performance of thefirm.In models with heterogenous pricing-to-market,the optimal production price depends upon the marginal cost of thefirm which itself depends on its specific productivity draw and on other types of marginal costs (wages)which are common to all exporters.It also depends on bilateral trade costs and on the exchange rate level(see equation(A1)in the appendix for the specific case of our model with distribution costs). We therefore estimate the following specification,wherefirms are indexed by j,destinations by i and time by t:ln(UV jit)=αp ln( ϕjt−1)+βp ln(RER it)+γp ln( ϕjt−1)×ln(RER it)+ψt+µji+ jit,(1)where UV jit denotes the unit value of exports,used as a proxy for exporter prices.Our regressions use ln( ϕjt−1)=ln(ϕjt−1/ϕt−1)as a control forfirm-specific marginal costs,ϕdenoting the productivity of firm j(which we lag one year and normalize by the average productivity in the sample).RER it is the average real exchange rate between France and country i during year t.ψt are year dummies which capture,for instance,shocks to marginal costs common to all French exporters.Finally,note that we systematically perform within estimations,i.e.we introducefirm-destinationfixed effects to capture the time-invariant part of characteristics which may affect pricing and that vary by destination(e.g.size of importing country,trade costs from France,distribution costs,...),byfirm(e.g.quality of marketing),or byfirm-destination(e.g.idiosyncratic taste of a country for what is exported by thisfirm).We expect a positive sign on bothβp andγp.The second coefficient captures the heterogeneity of pricing-to-market,i.e.the fact that high productivityfirms increase more their exporter price follow-ing a real depreciation(testable prediction1).In models where the demand elasticity is constant and homogenous acrossfirms(at least inside a sector),this coefficient should be zero.The effect of RER changes onfirm-level export volumes is studied using the same reduced-form strategy as for unit values,estimating the following equation:ln x jit=αx ln( ϕjt−1)+βx ln(RER it)+γx ln( ϕjt−1)×ln(RER it)+δZ it+ψt+µji+υjit,(2)。