Current economic circumstances and the trend of macroeconomic

Chapter One1. Some examples of microeconomics:(1) How does the local phone company set its fee structure?(2) Does Microsoft act like a monopoly?Some examples of macroeconomics:(1) How would GDP be affected by the increasing unemployment rate?(2) What is the growth rate of the Unites States’ trade deficit?2. (1) labor(2) capital(3) land(4) capital(5) land3. Open-ended.4. If the bus has empty seats, the cost of adding one more passenger is negligible. As long as the passenger pays more than the marginal cost, selling him a ticket is profitable.5. The opportunity cost of operating his own business should include the foregone income as a civil servant ($25,000). Thus, although the profit calculated by the accountant is positive ($20,000), the profit adjusted for the opportunity cost of foregone income will be -$5,000 ($20,000 –$25,000).6. It depends on what your next best choice is. Instead of studying Economics, you could watch TV, study English, or talk to a friend on the telephone. Suppose your next best choice is to watch TV. Then the opportunity cost of studying Economics is the foregone pleasure you might obtain from watching TV.7. Open-ended.Chapter Two1. Open-ended.2. A market failure occurs when a market, left to itself, fails to allocate resources efficiently. Lack of competition, inadequate information, externalities, and public goods are examples of market failures. Generally lack of competition, inadequate information, externalities and lack of public goods are the main sources of market failure.3. (3)(4).4. Positive externality: Instead of driving, people cycle to work. Cycling can lead to less deaths in car accidents and reduce the gases that affect global warming. Negative externality: Your neighbor is blasting his stereo and the noise is coming into your room.5. (1) rival, excludable(2) non-rival, excludable(3) non-rival, non-excludable6. (1)7. The subway becomes more rival during rush hours.8. (1) Public good.(2) A police station.(3) These services would be under provided.Chapter Three1. Many factors influence the quantity demanded other than the price. If some circumstances change, the quantity demanded changes too. This assumption is—price and quantity3. (1) Normal goods.(2) Inferior goods.(3) Inferior goods.(4) Normal goods.4. The demand curve for China Mobile will shift to the left. China Telecom will experience movement down its demand curve.5. People would book their hotels early to guarantee they get the room. There would be a rush of early bookings. The demand curve would shift to the right.6. The five main factors that can shift the supply curve are changes in1) input prices, 2) prices of related goods, 3) technology, 4) expectations,and 5) the number of firms in the market.7. (1) The supply curve will shift to the left.(2) The demand curve will shift to the right.(3) The demand curve will shift to the left.(4) The supply curve will shift to the right.8. (1) The supply curve for taxi service will shift to the left. The new equilibriumprice will go up. The new equilibrium quantity will decrease.(2) The demand curve for taxi service will shift to the left. The new equilibrium price will go down. The new equilibrium quantity will decrease.(3) The demand curve for taxi service will shift to the right. The new equilibrium price will go up. The new equilibrium quantity will increase.(4) The demand curve for taxi service will shift to the left. The new equilibrium price will go down. The new equilibrium quantity will decrease.Chapter Four1.3469.02/)61.232.2( 2.32)-(2.61 2/)2425(24)-(25E d =+÷+= The demand for gasoline was inelastic.2. Because the demand for wheat is inelastic, the total revenue will decrease if the price of wheat goes down.3. Total revenue when the price is 50: 50×1000 = 50000.If the manager reduces the price of each ticket by 10%, the quantity of tickets being sold will increase by 20% (10%×2).The new price will be 45. The new quantity of tickets will be 1200.Total revenue after the price change: 45×1200 = 54000Change in total revenue: 54000–50000 = 4000.4. 5.22000/)18002000(4/3)-4( E i =-= 5. (2) As incomes rise the demand for fresh fruit also rises but by a smallerproportion.6. (1)7. The demand for necessities is income inelastic, while it is elastic for luxury goods.8. (1)Chapter Five(2) 1.The law of diminishing marginal utility holds.4. No. As marginal utility turns negative, total utility starts falling.5. The utility derived from consumption is intangible. However, consumers revealtheir preferences through purchase decisions and thereby provide tangible evidence of utility.6. When income increases, total utility increases as more goods can be consumed. Butthis doesn’t mean the law of diminishing marginal utility does not hold.7. No. He should consume more yoghurt and fewer sandwiches.8. 4 novel and 5 CDs.Chapter Six1. (1) Explicit cost.(2) Implicit cost.(3) Explicit cost.(4) Explicit cost.2. (1) 40,000.(2) 80,000. The implicit cost is not taken into consideration.(3) The economic profit is zero. The owner earns a normal profit.3. (1) Long-run.(2) Short-run.(3) Long-run.(4) Short-run.4. (1)(2) Omitted.(3) As the number of units of the variable input increases, eventually the marginalproduct of the variable input will decline. The law of diminishing marginal returns starts when the third variable input is used.(4) When marginal product curve rises, the total product increases by increasingamounts. When marginal product curve begins to fall, total product still increases but at a decreasing rate. When marginal product is negative, the total product curve begins to fall.5. When the marginal cost is below the average cost (average variable cost), the average cost (average variable cost) would be declining. When the marginal cost is above the average cost (average variable cost), the average cost (average variable cost) would be increasing. Thus, marginal cost curve must intersect average cost and average variable cost curves at their lowest points.6. The firm’s average fixed cost is its total fixed cost divided by the quantity of output. Because the total fixed cost remains unchanged when the quantity of output increases, the average fixed cost keeps declining. So the average fixed cost curve is not U-shaped.(3) Omitted.8. Large corporate farms are more capable of obtaining new technology, usinglarge-scale machines and financing in lower cost than small family farms.Chapter Seven1. As price-takers, perfectly competitive firms can sell all they want at that price, but cannot sell anything at a higher price. Thus advertising would not increase profits at all.2. Agree. If marginal revenue exceeds marginal cost, it should increase output toincrease profit.3. If a firm earns zero economic profit, it is making just enough to cover all costs. If it is shut down, the fixed cost cannot be covered.4. (1) The firm should continue producing.(2) The firm should continue producing.(3) The firm should shut down.5. The monopoly firm is interested in maximizing profit, not price. It charges the price for which its profits are the largest.6. The government has granted U.S. Postal Service the license to run the first-class mail service.7. Because the products are differentiated, the sellers have a little control over the price of their products.8. The firm should increase the level of output because marginal revenue exceeds marginal cost.9.Oligopoly.10. Open-ended.Chapter Eight1. Open-ended.2. A final good is one that involves no further processing and is purchased for final use. An intermediate good is one that involves further processing. A loaf of bread could be either a final or intermediate good, depending on the purchaser's use of the bread. It is a final good when purchased by a household for consumption; it is an intermediate good when purchased by a restaurant which resells the bread.3. (5)(6)4. (1) Nominal GDP in 2009: 320000 yuan.Nominal GDP in 2010: 450000 yuan.(2) Real GDP in 2010: 374000 yuan.(3) GDP deflator for 2010: 120.3.5. (1) Government purchases.(2) Consumption.(3) Net exports.(4) Investment.6. These suggest that the economy is in an expansion phase of the business cycle.7. Recession and depression both means a slowdown in economic activity. Depressionis an unusually severe or long recession.Chapter Nine1. The long-run aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output supplied in the long run. In the long run, the level of output is determined by the amounts of economic resources and the technology available; it is independent of the price level. The long-run aggregate supply curve, therefore, is vertical.2. Higher taxes will cause higher production cost and have a negative effect on aggregate supply.3. The fall in the price level leads to more consumption, more investment, and more net exports. Therefore, the aggregate demand increases when the price level falls.4. Changes in consumption, investment, government purchases and net exports.5. (1)(2)6. Open-ended.7. Open-ended.Chapter Ten1. Open-ended.2. The Consumer Price Index (CPI), is an indicator of changes in the prices paid byconsumers. To calculate the inflation rate from CPI, the previous year’s CPI is subtracted from the current year’s CPI, and then divided by the previous year’s CPI. Finally, move the decimal over two places to the right to convert the result toa percentage.3. Open-ended.4. (1) Wealth redistribution. (2) General inconvenience. (3) Menu cost. (4) Shoeleather cost. Note: These costs may be ranked in a different may.5. Tommy gains and Lucy loses.6. Cyclical unemployment.7. (1) Frictional unemployment.(2) Seasonal unemployment.(3) Cyclical unemployment.8. Open-ended.Chapter Eleven1. (2)2. (1)3. Reserves are deposits that banks have received but have not loaned out. Requiredreserves are deposits that the central bank requires banks to hold and excessreserves are any additional reserves the banks choose to hold in excess of therequired reserves.4. To increase the money supply, the central bank buys government securities from thepublic. To reduce the money supply, the central bank sells government securities to the public.5. Automatic stabilizers are a form of nondiscretionary fiscal policy that automatically offsets economic fluctuations without direct intervention by the government. Examples of automatic stabilizers include the progressive tax system and unemployment compensation.6. Increase government purchases and transfer payments, or reduce taxes.7. (1) When the economy gets overheated, the government could take a contractionaryfiscal policy.(2) When the economy is in a slowdown, the government could take anexpansionary fiscal policy.8. The economy under Clinton could have boomed for other reasons, such as theincreased investor and consumer confidence, leading to increases in investment and consumption spending. These could have outweighed the contractionary effect of his fiscal policies. The surpluses came about not only from the tax increases of his discretionary policies, but also from the booming economy, which brought in increases in tax revenues as the automatic stabilizers worked.Chapter Twelve1. (1) I have absolute advantages in both outlining and typing.(2) I have a comparative advantage in outlining.(3) Frank should specialize in typing; I should specialize in outlining.2. (1) 8/3 computers.(2) 3/4 televisons.(3) the U.S.(4) computers.3. Open-ended.4. Open-ended.5. Steel firms in the U.S. would be happy with the new tariff. However, the exportingcountries would be hit by this policy. The tariff would also hurt U.S. firms that use steel—including producers of autos, appliances, heavy machinery, machine tools, and large buildings.6. Open-ended.7. Protect domestic jobs, infant industry, national security, environment and culture.Chapter Thirteen1. (1) Credit current account.(2) Debit current account.(3) Debit current account.(4) It doesn’t affect BOP.(5) Credit capital and financial account.2. (1) Debit current account.(2) Debit capital and financial account.(3) Debit current account.(4) Credit capital and financial account.(5) Credit capital and financial account.3. (2)4. It would reduce the size of the current account deficit, because when real incomefalls, the Americans import less.5. Chinese need foreign currency to purchase goods, services, and financial assetsfrom other countries. Chinese demand curve for foreign currency shifts to the rightwhen real income in China rises; the price level in China rises relative to the price levels in foreign countries; the interest rate is relatively lower in China; and the exchange rate of RMB is expected to fall. Chinese demand curve for foreign currency shifts to the left when real income in China decreases; the price level in China falls relative to the price levels in foreign countries; the interest rate is relatively higher in China; and the exchange rate of RMB is expected to rise.6. Open-ended.7. Open-ended.8. (1) Dollar appreciates.(2) Dollar appreciates.(3) Dollar depreciates.(4) Dollar appreciates.(5) Dollar depreciates.。

Chinese calligraphy is a unique art and the unique art treasure in the world. The formation and development of the Chinese calligraphy is closely related to the emergence and evolution of Chinese characters. In this long evolutionary process, Chinese characters have not only played an important role in exchanging ideas and transmitting culture but also developed into a unique art form. Calligraphic works well reflect calligraphers' personal feelings, knowledge, self-cultivation, personality, and so forth, thus there is an expression that “seeing the calligrapher's handwriting is like seeing the person”. As one of the treasures of Chinese culture, Chinese calligraphy shines splendidly in the world's treasure house of culture and art.Unit 2In recent years, with the development of Internet technology, the construction of digital education resources of our country has made great achievements. Many universities have set up their own digital learning platforms, and digital teaching is playing an increasingly important role in education. Compared with the traditional way of teaching, the digital way has a lot of advantages. On one hand, digital teaching makes global sharing of teaching resources possible; on the other hand, it expands the learner's study time and space to learn, allowing people to get access to the digital virtual schools through the Internet anytime and anywhere. These advantages make it possible for people to shift from one-time learning to lifelong learning.Unit 3Filial piety is the basic code of ethics in the ancient Chinese society. Chinese people consider filial piety as the essence of a person's integrity, family harmony, and the nation's well-being. With filial piety being the core of Confucian ethics, it has been the moral standard for the Chinese society to maintain the family relationship for thousands of years. It's undoubtedly a traditional Chinese virtue. The culture of filial piety is a complex concept, rich in content and wide in range. It includes not only cultural ideas but also institutional etiquettes. Generally speaking, it refers to the obligation of children to their parents required by the society, including respect, care, support for the elderly and so forth. Filial piety is fundamental to the ancient “Oriental civilization”.Unit4July 7th on the Chinese calendar is Chinese Qixi Festival, the most romantic of all the traditional Chinese holidays. Every year, some big businesses organize various activities, and young people send gifts to their lovers. As a result, the Qixi Festival is considered to be Chinese “Valentine's Day”. The Qixi Festival is derived from the legend of Cowherd and Weaving Maid. The legend holds that on this particular night every year the Weaving Maid in heaven meets with Cowherd. So, people can see Cowherd and Weaving Maid meeting in the Milky Way on the night of Qixi. On this night, girls would also beg Weaving Maid for some wisdom for a happy marriage. But, with the changing of times, these activities are diminishing. All that remains is the legend of Cowherd and Weaving Maid, a sign of faithful love, continuously circulated among the folk.The Silk Road is a traffic route in the ancient times connecting China and Eurasia. This trade route focuses on the trade of silk, hence the name“ the Silk Road”. As an international trade channel and a bridge of cultural exchanges, the Silk Road effectively improved the economic and cultural exchanges and development between the East and the West, exerting a profound impact on the progress of the world civilization. Nowadays, under the new historical circumstances, our country proposes the Belt and Road Initiative (namely the Silk Road Economic Belt and the 21st-Century Maritime Silk Road). The Belt and Road Initiative focuses on cooperation and mutual benefits, emphasizing mutual benefits, win-win, as well as common development of the related countries. Once proposed, the initiative has received positive responses from the related countries along the road.Unit6National Happiness Index (NHI) is an index that measures how happy people are. It is also a tool that measures the levels of economic development and people's livelihood and happiness in a country or region. With the fast growth of Chinese economy, the Chinese government has been paying more and more attention to people's living quality and the increase of happiness index. The government stresses improvement of its people's livelihood, striving to improve their economic conditions and meet their growing material and cultural needs. Currently, the Chinese government advocates the unleashing of more reform dividends, with the aim of offering more real benefits to its people. All these measures will combine to effectively increase the NHI of our people.Unit7China is home to silk, thereby having a variety of arts related to silk, one of which is embroidery. Embroidery, with at least two or three thousand years of history, is one of the Chinese traditional folk arts and crafts. Since most embroiderers are women, it's also called “women's needlework”. Embroidery has been much-loved by the Chinese people. It can be used to beautify clothing and things. For example, clothes, quilts, pillowcases etc. can be embroidered with beautiful designs, or a piece of embroidery can be made for a special ornament. There are four most famous types of embroidery in China: Suxiu from Suzhou, Yuexiu from Guangdong, Xiangxiu from Hunan, and Shuxiu from Sichuan, each having its own style and theme. Among the four, Suzhou embroidery has enjoyed the highest reputation. Unit8Since the founding of New China, especially since the economic reform and door-opening to the world, the Chinese government has made considerable efforts in eco-environmental protection and achieved effective progress. The government has taken a series of important measures to protect and improve the ecological environment, such as actively promoting key ecological projects, enhancing ecosystem construction and biodiversity conservation, establishing a number of nature reservations, ecological demonstration zones, scenic spots and forest parks. One of the important goals of building a socialist harmonious society is to strengthen ecological protection and construction and to achieve harmony between man and nature. Environmental protection and ecological civilization construction have provided a solid foundation for the sustainable development of China's economy and society.。

BOOK TWOUnit 5丝绸之路（Silk Road）是我国古代一条连接中国和欧亚大陆（Eurasia）的交通线路，由于这条商路以丝绸贸易为主，故称"丝绸之路"。

作为国际贸易的通道和文化交流的桥梁，丝绸之路有效地促进了东西方经济文化交流和发展，对世界文明进程有着深远影响。

当前，在新的历史条件下，我国提出了"一带一路"（One Belt, One Road）（即"丝绸之路经济带"和"21世纪海上丝绸之路"）的战略构想。

"一带一路"以合作共赢为核心，强调相关各国的互利共赢和共同发展。

这一战略一经提出即受到沿线各国的积极响应。

The Silk Road is a traffic route in the ancient times connecting China and Eurasia. This trade route focuses on the trade of silk, hence the name "the Silk Road". As an international trade channel and a bridge of cultural exchanges, the Silk Road effectively improved the economic and cultural exchanges and development between the East and the West, exerting a profound impact on the progress of the world civilization. Nowadays, under the new historical circumstances, our country proposes the strategy of "One Belt, One Road" (namely the Silk Road Economic Belt and the 21st-century Maritime Silk Road). The strategy of "One Belt, One Road" focuses on cooperation and mutual benefits, emphasizing mutual benefits, win-win, as well as common development of the related countries. Once proposed, the strategy has received positive responses from the related countries along the road. Unit 6国民幸福指数（National Happiness Index，NHI）是衡量人们幸福感的一种指数，也是衡量一个国家或地区经济发展、居民生活与幸福水平的指标工具。

创业精神的英语作文The Entrepreneurial Spirit: Embracing the Journey of Self-Discovery and SuccessEntrepreneurship is more than just a career path; it is a mindset, a way of life that embraces the spirit of innovation, risk-taking, and self-determination. At the heart of this dynamic landscape lies the entrepreneurial spirit, a force that propels individuals to push the boundaries of what is possible and create something extraordinary from the ordinary.The entrepreneurial journey is not for the faint of heart it is a rollercoaster ride of highs and lows, filled with moments of exhilaration and moments of uncertainty. Yet, it is precisely this sense of adventure and the thrill of the unknown that draws many individuals to the world of entrepreneurship. They are driven by a desire to be their own boss, to control their own destiny, and to bring their ideas to life.One of the key characteristics of the entrepreneurial spirit is the ability to identify and seize opportunities. Entrepreneurs are masters of spotting gaps in the market, recognizing unmet needs, anddevising innovative solutions to address them. They possess a keen eye for detail, a deep understanding of their target audience, and the foresight to anticipate industry trends and shifts.Closely tied to this is the entrepreneurial mindset of problem-solving. Entrepreneurs are not deterred by obstacles; instead, they view them as challenges to be overcome. They approach problems with a solutions-oriented approach, drawing upon their creativity, critical thinking skills, and resourcefulness to find a way forward.Resilience is another hallmark of the entrepreneurial spirit. Entrepreneurs understand that failure is not the end, but rather a stepping stone to success. They embrace the lessons learned from their missteps and use them to refine their strategies, strengthen their resolve, and emerge stronger than before. This ability to bounce back from setbacks and maintain a positive, determined outlook is what sets successful entrepreneurs apart.Moreover, the entrepreneurial spirit is characterized by a willingness to take calculated risks. Entrepreneurs understand that growth and innovation often come hand-in-hand with risk-taking. They are not afraid to step out of their comfort zones, to venture into uncharted territories, and to put their ideas and strategies to the test. This risk-taking mindset is fueled by a deep belief in their own abilities and a unwavering commitment to their vision.Alongside the ability to take risks, entrepreneurs also possess a remarkable level of self-discipline and focus. They are able to juggle multiple tasks, prioritize their responsibilities, and stay laser-focused on their goals. This discipline extends beyond the confines of their business ventures, as entrepreneurs often exhibit a dedication to personal growth, continuous learning, and the pursuit of excellence.The entrepreneurial spirit is not limited to those who have already launched their own businesses. It can be found in individuals from all walks of life, from corporate professionals seeking to innovate within their organizations to students and young adults with a burning desire to create something of their own. Regardless of their background or current circumstances, the entrepreneurial spirit is a mindset that can be cultivated and nurtured.For those who embrace the entrepreneurial journey, the rewards can be immense. The sense of accomplishment that comes with turning an idea into a thriving enterprise, the freedom to make their own decisions, and the opportunity to positively impact the lives of others are just a few of the motivating factors that drive entrepreneurs forward.However, the entrepreneurial path is not without its challenges. Entrepreneurs must be prepared to face a myriad of obstacles, fromsecuring funding and navigating legal and regulatory hurdles to managing the day-to-day operations of their business. They must also be adept at building and leading teams, fostering a culture of innovation, and adapting to rapidly changing market conditions.Despite these challenges, the entrepreneurial spirit continues to captivate and inspire individuals around the world. It is a testament to the human capacity for creativity, resilience, and the relentless pursuit of personal and professional growth. As more and more people embrace the entrepreneurial mindset, the potential for innovation, economic growth, and positive social change only continues to expand.In conclusion, the entrepreneurial spirit is a powerful force that transcends borders, industries, and generations. It is a mindset that celebrates the thrill of the unknown, the joy of problem-solving, and the satisfaction of turning dreams into reality. For those who dare to embark on the entrepreneurial journey, the rewards are boundless, and the opportunity to leave an indelible mark on the world is truly within reach.。

BEC剑桥商务英语(高级)2(总分22, 做题时间149分钟)SECTION 1 (Questions 1-8) -Look at the statements (marked 1-8) below and the five extracts from an article (marked A-E). -Which article (marked A-E) does each statement (marked 1-8) refer to? -You will need to use some of these letters (marked A-E) moreAManagers control other employees. This is a vital function of management that varies only in degree and style. One area of change threatens to reduce the degree substantially: the "dilution" of control downward. A key function from the beginning, control shares the collective essence of management with planning, organizing, staffing, and directing. Some would add two more: innovating and representing. Today, many prefer a less autocratic-sounding word, but the logic remains convincing: Somebody must "run things". By implication, monitoring that process is also necessary if an effective, profitable organization is to be realized.BSome control has already been diluted when the authority to make decisions in the boss''s name is delegated. Needed especially as organizations grow larger, delegation almost inevitably generates tension. Managers know they should and must delegate, for many reasons. No matter how skilled and experienced, one person canneither do everything nor make all necessary decisions. Even if that superhuman ability existed, the development of promotable subordinates would be compromised.CRegardless of how necessary and desirable, however, delegation remains difficult. Typically, managers view letting a "less qualified person" do the job as illogical. They also fear potential loss of power and control. Despite such resistance, recent years have seen greater pressure to delegate. Those who like to invent terminology might call the new situation "delegation-plus", or perhaps "macro-delegation". Even the basic word might be ready for retirement.DIn other words, long-existing delegation of authority down the chain of command has been supplemented greatly by widespread "empowerment". Decision-making has been "pushed downward" with a vengeance. Emphasis has been placed on decentralization and multiple teams. Causes are both philosophical and practical. Some see apervasive paradigm shift. A vigorous effort is being made in benchmark firms not only to seek constantly better ways to do things but to do so more democratically, for assumed long-run effectiveness. One way to do this is to push organizational decision-making downward. Practically speaking, this effort is complemented by widespread downsizing. The restructuring that accompanies it: often means reducing the number of middle managers. In the resulting "flat" organizations, those who remain wield broader spans of control or management, meaning they have more people to supervise.EDespite its popularity and even urgency, downward shifting provokes serious questions. Is it possible to reduce a manager''s operational control too much? Is the concept of "diminishing returns" likely, as in economic theory? The trend has been long ongoing! if that point does exist, how close are we? Is endless decentralization logical? Delegation per se does not have to compromise management control; should not, in fact, provided the needed skill exists. But the danger is always present.0. Controlling is significant in management however it changes to some extent. (E)SSS_SIMPLE_SIN1.However managers are afraid of losing control, the pressure to delegate has been seen recently.A B C D E F G H该问题分值: 0.125答案:DSSS_SIMPLE_SIN2.With the development of companies, more decision-makings are authorized in the boss's name.A B C D E F G H该问题分值: 0.125答案:BSSS_SIMPLE_SIN3.Companies should place their emphasis on decentralization and group work for philosophical and practical reasons.A B C D E F G H该问题分值: 0.125答案:HSSS_SIMPLE_SIN4.Definition of controlling reflects a democratic aspect of management.A B C D E F G H该问题分值: 0.125答案:ASSS_SIMPLE_SIN5.Empowerment is a good supplement to the delegation of authority downward.A B C D E F G H该问题分值: 0.125答案:HSSS_SIMPLE_SIN6.Though it is popular and urgent, downward shifting in management raises many serious questions.A B C D E F G H该问题分值: 0.125答案:ESSS_SIMPLE_SIN7.More rights have to be given to promotable subordinates, even though the boss is competent.A B C D E F G H该问题分值: 0.125答案:BSSS_SIMPLE_SIN8.Though nowadays many people like a more collective-sounding word, running and monitoring is also significant.A B C D E F G H该问题分值: 0.125答案:ASECTION 2 (Questions 9-14) -Read the passage below and choose the best sentence from the list (marked A,B,C…) to fill each of the blanks. -DO NOT use any choice more than once. -There is an example at the beginning (0) of the passage.In an uncertain economic environment, top management will be interested in asset management and flow management. (0) . They can represent over 50 percent of manufactures'' total asset, and more than 80 percent of wholesalers'' and retailers'' total assets.When top management mandates a reduction in accounts receivable and/or inventories, its objective is to improve cash flow and reduce **pany''s investment in assets. (9). But reduction in the terms of sale, or even enforcement of the stated terms of sale, in effect changes tile **ponent ofthe firm''s marketing mix. (10).The arbitrary reduction of accounts receivable and/or inventories in the absence of technological change or changes in the logistics system can have a devastating impact on corporate profit performance.(11). First, the change alters the manufacturer''s price and therefore **petitive position of its products, which may lead to decreased sales. Second, it **plicates the cash flow problems of the manufacturer''s customers. Forcing faster payment of invoices causes channel members to improve their cash flow by reducing their inventories of the manufacturer''s products. (12). This situation may also result in stock-out of the manufacturer''s products as the wholesale or retail level of the channel, further reducing sales volume.Similarly, a manufacturer''s policy of arbitrarily reducing inventory level to increase inventory sums, in the absence of a system change, may escalate transportation costs and/or production setup costs as the logistics system scrambles to achieve thespecified customer service levels with lower inventories (assuming**pany was efficiently and effectively distributing products prior to the policy change). (13). In this case, customer service levels would be eroded, and a decrease in market share might result. (14).A. However, if management concentrates on system changes that improve logistics efficiency and/or effectiveness, it may be able to satisfy all of the firm''s objectives.B. Usually, management assumes that revenues and other costs will remain the same.C. They do so by placing smaller, more frequent orders, which may increase total logistics cost for both the manufacturer and its customers.D. In either set of circumstances, the increased cost of transportation and/or production or the lost sales contribution could far exceed the savings in inventory carrying cost.E. If a manufacturer changes its terms of sale, for example, the effect on wholesalers and retailers will be twofold.F. In addition, simply reducing the level of inventory can significantly increase the cost of logistics if current inventories have been set at a level that allows the firm to achieve least total cost logistics for a desired level of customer service.G. Alternatively, pressure to reduce expenses may preclude the use of premium transportation or increased production setups to achieve the desired customer service levels with smaller inventory.H. The two **mon strategies used to improve cash flow and return on assets are: (l) reducing accounts receivable and (2) reducing the investment in inventory, as inventories and accounts receivable are a major portion of corporate assets.EXAMPLE：The correct answer for blank (0) is [H].SSS_SIMPLE_SIN9.A B C D E F G H该问题分值: 0.XX6667答案:BSSS_SIMPLE_SIN10.A B C D E F G H该问题分值: 0.XX6667答案:FSSS_SIMPLE_SIN11.A B C D E F G H该问题分值: 0.XX6667答案:ESSS_SIMPLE_SIN12.A B C D E F G H该问题分值: 0.XX6667答案:DSSS_SIMPLE_SIN13.A B C D E F G H该问题分值: 0.XX6667答案:GSSS_SIMPLE_SIN14.A B C D E F G H该问题分值: 0.XX6667答案:HSECTION 3 (Questions 15-20) -Read the article below and answer questions that follow.The tariff-jumping motive for FDI is well developed in the literature. The trade-of foreign firms typically face in these models is based on the level of the tariff when exporting versus the boardcost associated with setting up a manufacturing plant abroad. Other **pare the effects of tariffs with the effects of quota and voluntary export restraints (VERs) and have shown how the profit gain for foreign firms due to VERs lowers the propensity to engage in FDI. While the use of tariffs, quota and VERs has been reduced as a result of multilateral trade negotiations, the use of other trade policy instruments, notably antidumping, has increased. Recent empirical work has confirmed that the FDI response to antidumping actions is certainly not uncommon, in particular in case of antidumping actions targeting Japanese firms, in a recent study, analyses duty-jumping FDI by firms based in other countries than Japan. The antidumping jumping FDI is very limited in scale in case firms without international experience based in developing countries are targeted.Given the demonstrated importance of FDI responses to antidumping actions, it is surprising that the theoretical literature on the effects of antidumping law have by and large ignored the issue of antidumping jumping. In a symmetric model of two countries considering reciprocal (anti-)dumping and reciprocal FDI, they find that producers in both countries would gain from the abolition of antidumping law from the WTO statute. This result is driven by the fact that reciprocal antidumping jumping FDI **petition and reduces profits of domestic firms.All types of international price discrimination with the lower price charged in the EU can classify as dumping, at least for products for which there are close EU substitutes. We explicitly consider a clause in EU antidumping law that allows the EU administration to settle antidumping actions either by levying duties or by demanding price undertakings from the foreign exporting firms. Our model shows that this decision will depend on the objective function of the EU administration, which may vary between protecting the interests of EU industry only (maximizing producer surplus) and also taking into account the interests of consumers and user industries (maximizing EU social welfare). The former corresponds to the direct objective of antidumping law. Pursuing the latter is in line with the public interests'' embedded in EU antidumping law by which the EU Commission is held to consider repercussions on consumers and user industries. A second aspect of EU antidumping incorporated in the model is that the level of duties and price undertakings is typically determined by the degree to which foreign firms undercut EU producers'' prices on the EU market. This rule isapplied to ensure that antidumping measures remove the injury to EU industry. The rule limits the discretionary power of the EU administration in determining duty and price undertaking levels.Contrary to the symmetric model of Haland and Wooton, weexplicitly take on boardcost asymmetries, viz. a cost advantage of the foreign firm. Such a cost advantage is a most likely reason for price undercutting by foreign exporters resulting in antidumping actions. We allow cost advantages to be either ''firm-specific'', in which case they are internationally transferable through FDI, or''location specific''. We show that the occurrence of duty jumping FDI in the EU requires that the foreign firm''s cost advantage is at least partly firm specific. In the next section we present the model for the case of products which are sufficiently close substitutes (''like'' products) and firm-specific cost advantages, assuming that the EU administration is able to commit to antidumping actions before the foreign firm''s investment decision, and allowing two alternative policy objectives (producer surplus and social welfare).For this purpose we used a three-stage model. In the first stage, the EU administration decides whether to take antidumping measures, and if so, whether to levy a duty or allow a price undertaking. In the second stage the foreign firm decides whether to serve the EU market through export or FDI. In the third stage, the foreign firm is engaged in **petition with a local firm on the EU market, whichoffers close substitute products. Injury arises from a production cost advantage of the foreign firm, which may either be location specific, for example, based on lower foreign wages or firm specific like based on a transferable technological advantage.SSS_SINGLE_SEL15.According to the first paragraph, what does the study about tariff-jumping motive show?A The welfare and strategic effects of antidumping laws under alternative market structures.B Industries' incentives to petition for antidumping.C These studies show under which conditions foreign firms prefer to set up local production units over exporting when serving distant markets.D The potential effect of antidumping measures in strengthening collusive practices.该问题分值: 0.XX6667答案:CSSS_SINGLE_SEL16.What does the evidence show in the second paragraph?A The evidence suggests that EU firms show a comparable FDI response if they are targeted by US antidumping actions.B The evidence shows the possibility of a 'protection building equilibrium'.C A foreign firm that intends to engage in second period FDI increases its first period export in order to increase the level of protection faced by the rival foreign firm.D The evidence implies that they are concerned with the effects of economic integration involving the abolition of antidumping law.该问题分值: 0.XX6667答案:ASSS_SINGLE_SEL17.After reading the first three paragraphs, what do you think the two studies deal with?A The two studies examine antidumping jumping FDI in the context of EU antidumping practices.B Two studies deal with the relationship between antidumping and FDI.C They analyze the conditions under which antidumping jumping FDI occurs.D They explain the output and welfare effects of antidumping actions.该问题分值: 0.XX6667答案:BSSS_SINGLE_SEL18.What does the writer imply in the fourth paragraph?A An antidumping duty is akin to a tariff.B A price undertaking is a commitment by the foreign firm to raise its price.C The conditions under which undertakings are allowed are not well articulated in EU antidumping law.D An EU antidumping case can only be initiated when imports are dumped on the European market and cause material injury.该问题分值: 0.XX6667答案:DSSS_SINGLE_SEL19.From the fifth paragraph, in the case of cost advantages, what does FDI imply?A It implies that it is often a feature of exporters based in developing countries.B It implies that foreign firms relinquish their cost advantage and produce at the same marginal cost as those of EU producers.C It implies the differences in FDI responses between firms from developed and developing countries.D It implies that in EU antidumping practice, a substantial number of cases are settled through price-undertakings.该问题分值: 0.XX6667答案:BSSS_SINGLE_SEL20.What is the main theme of this article?A The article is about the effects of EU antidumping policy when foreign firms can jump antidumping duties in the EU.B The article shows that duty jumping or duty pre-empting FDI occurs if the EU administration has broader objectives.C The article is about the expectation of price undertakings reduces the incentives to engage in FDI and may even discourage.D The article shows that FDI as long as products are not too differentiated.该问题分值: 0.XX6667答案:ASECTION 4 (Questions 21-30) -Read the article below and choose the best answer to fill each blank from the 4 choices marked A,B,C, and D. -The answer for blank (0) has been given as an example.INTERNET: A COST-EFFECTIVE WAY TO PROMOTE BUSINESSThe Internet is changing the way people shop and purchase goods. It has created a new market (0) great opportunities for people running a small home-business and gives them a big advantage over the typical retail establishment. Before, if a customer wanted to buy a stereo for example, they had to jump into their car, go to a (31) stores to see who has the best price, deal with the traffic and wait in long lines, then make the purchase. With the Internet, (32) is done right from **fort of the consumer''s home. They simply point & click. There is (33) limit to the amount of business that a web merchant can bring in from on-line sales and it can be done right from your home. You are not limited to state or national boundaries. The whole world is your customer base! Compared to say a local flower shop (34) is limited to only the customers within that general area.The World Wide Web has created an avenue for individuals to set up shop and generate high profits (35) the expensive overhead costs of a brick and mortar storefront. It has given an opportunity for small businesses to give the appearance of a large, well-**pany, which puts (36) on a level playing field to compete (37) the**panies. It is a low-maintenance low-cost form of advertising your products and services. To get set up with your own on-line store is extremely easy and inexpensive. In fact, it''s the most cost-effective way to reach many thousands of buyers (38) the globe. Having a website is a must for (39) company doing business today to **petitive and offer convenience to (40) customers. If you don''t have a website, chances are **petitors will, and they will make the sale.EXAMPLE：The correct answer for blank (0) is “WITH ”.SSS_FILL21.该问题分值: 0.1答案:FEWSSS_FILL22.该问题分值: 0.1答案:THIS/ITSSS_FILL23.该问题分值: 0.1答案:NOSSS_FILL24.该问题分值: 0.1答案:THAT/WHICHSSS_FILL25.该问题分值: 0.1答案:WITHOUTSSS_FILL26.该问题分值: 0.1答案:THEMSSS_FILL27.该问题分值: 0.1答案:WITHSSS_FILL28.该问题分值: 0.1答案:ACROSSSSS_FILL29.该问题分值: 0.1答案:ANYSSS_FILL30.该问题分值: 0.1答案:THEIRSECTION 5 (Questions 31-40) -Read the article below, for each question 31-40, write ONE word in CAPITAL LETTERS in the blank (answer area). -There is an example at the beginning, (0).Promotions, Transfers, and SeparationsIn the past, employees stayed with a company for most or all of their working life. Today''s employees, however, are more (0) to change jobs several times as they search for better opportunities. In the United States, most organizations experience (21), costly employee (22) as employees leave for one reason or another. Turnover occurs because of promotions, transfers, and separations.A promotion is an advancement, or (23) movement within an organization to a position with increased authority, responsibility, and salary. In **panies, (24)—the length of time a person has been with **pany—is the key issue in determining who should be promoted.A transfer is a horizontal move from one job to another within a company. Transfers allow workers to obtain new skills or to find a new (25) within an organization when their old position has been (26) because of automation, decreased sales, or some other factors.A separation is the departure of the employee from the organization. Separations occur because of resignation, layoff, and retirement. Resignation is giving up one''s job (27). A layoff is (28) of employment due to slow business conditions, the elimination of specific jobs, or the closing of work facilities. Retirement is separation because of age or after a specified number of years of service.A well-organized human resources department strives to (29) losses due to separations and transfers because recruiting and training new employees is very expensive. A high turnover (30) in an organization may signal problems with the selection or training process or with **pensation program.A. ableB. impossibleC. aboutD. likelyEXAMPLE：The correct answer for blank (0) is D.SSS_SINGLE_SEL31.A considerableB considerateC consolableD comprehensive该问题分值: 0.1答案:ASSS_SINGLE_SELA workB transferC separationD turnover该问题分值: 0.1答案:DSSS_SINGLE_SEL 33.A horizontalB flatC verticalD fluctuating该问题分值: 0.1答案:CSSS_SINGLE_SEL 34.A numberB seniorityC experienceD sense该问题分值: 0.1答案:BSSS_SINGLE_SEL 35.A roleB positionC dutyD responsibility该问题分值: 0.1答案:BSSS_SINGLE_SEL 36.A evaluatedB changedC turnedD eliminated该问题分值: 0.1SSS_SINGLE_SEL37.A voluntarilyB by oneselfC automaticallyD passively该问题分值: 0.1答案:ASSS_SINGLE_SEL38.A decreaseB sensibilityC suspensionD pause该问题分值: 0.1答案:CSSS_SINGLE_SEL39.A reduceB increaseC minimizeD black out该问题分值: 0.1答案:CSSS_SINGLE_SEL40.A speed-upB rateC degreeD grade该问题分值: 0.1答案:BSECTION 6 (Questions 41-52) -Read the text below. -In most of the lines (41-52) there is ONE EXTRA WORD which is either grammatically incorrect or does not fit in with the meaning of the text. Some lines, however, are correct. -If a line is correct, writ0. Leadership is not about getting to do what they want to. If they did what TO00. they want, you wouldn''t be needed as a leader. Instead, leadership is about getting CORRECT41. people to do what they don''t want to do (or don''t think they can do so)—and be42. **mitted to doing it. This paradox lies at the heart of all great leadership.43. Unlike management, about which involves simply the care and feeding of your44. organizational elephant, great leadership gets that elephant to jump up. Anyone45. who knows anything about elephants knows about that they may run, they may46. stand on their hind legs, and they may kneel on their fore legs, they may roll over;47. but they don''t jump. And that''s what leadership is all aboutits getting organizations48. to do what they usually can''t do, i.e., getting out greatresults consistently. Now,49. you can''t do the jumping yourself. The elephant must do it out. You can''t push the50. elephant into the air. It must jump out of its own volition. Making the elephant51. jump involves that cultivating a special relationship between the leader and the52. people of the organization. Many misunderstand that relationship. They try to use fear and pain to spur the activity needed to achieve consistently great results. "Sure, I''ll get this elephant to jump. Just give me a cattle prod!" But inducing fear and pain are habit forming and ultimately destructive both to the leader and the people.SSS_FILL41.该问题分值: 0.XX33333答案:SOSSS_FILL42.该问题分值: 0.XX33333答案:CORRECTSSS_FILL43.该问题分值: 0.XX33333答案:ABOUTSSS_FILL44.该问题分值: 0.XX33333答案:UPSSS_FILL45.该问题分值: 0.XX33333答案:ABOUTSSS_FILL46.该问题分值: 0.XX33333答案:ANDSSS_FILL47.该问题分值: 0.XX33333答案:ITSSS_FILL48.该问题分值: 0.XX33333答案:OUTSSS_FILL49.该问题分值: 0.XX33333答案:OUTSSS_FILL50.该问题分值: 0.XX33333答案:OUTSSS_FILL51.该问题分值: 0.XX33333答案:THATSSS_FILL52.该问题分值: 0.XX33333答案:CORRECTPART 2 WRITING （45 MIN） SECTION 153.? The bar chart below shows the sales figures of two stores during a 9-year period.? Using the information of the chart, write a **paring the performances of the two stores.? Write 120—140 words on your Answer Sheet.SSS_TEXT_QUSTI该问题分值: 1答案:The aim of this report is to compare the performances of two stores, namely Robinsons and Olsons. The report is based on the sales figures between 1994 and 2003.In 1994, sales of Robinsons were at $ 10 million. During the following 5 years sales increased steadily and peaked at $15 million in 1999 . They then decreased significantly and ended down at $5 million in 2003.In contrast, sales of Olsons began lower at almost $ 5 million in 1994, then by 1999 had doubled and continued to perform well. In 2003 sales reached the margin of $ 16 million.To sum up, we can say that **panies performed well at the beginning of the period but then Olsons continued to increase whereas Robinsons dropped and ended at a lower point than at the beginning of the 9 year period.54.Question 2**pany hopes to get insights into the hiring of adults with mild mental retardation and its effects on the running of **pany. You have been asked to write a proposal for strategies of employing mentally disabled people in **pany.Write your proposal, including the following:a brief description of the current policy of **pany regarding the hiring of disabled peoplean analysis of mentally disabled people''s capability of performing certain tasks in **panya description of the benefits from hiring these people recommendations for training strategiesQuestion 3**pany, an international hotel business, has been considering expansion in a foreign country. You have been asked to write a brief report which evaluates a particular city''s potential of being the site for a new hotel.Write the report for your manager, including the following information:why the city is a good location for a new hotelwhat merit special attention if the hotel has to be successfulwhat needs further noticeQuestion 4Your manager has received a request from one employee for reimbursement for expenses of a business visit to customers. The manager has decided that some of the expenses should not be covered by **pany. You have been asked to write a letter informing this employee of this decision.Write the letter to the employee,acknowledging his right for reimbursement for some business expensesclarifying the expenses that will not be covered and explaining whystating the procedure for getting reimbursement from **panySSS_TEXT_QUSTI该问题分值: 0答案:Sample answer to question 3:Why New Horizons Hotels Should Develop a Hotel in PragueThis report is intended to imply a decision that New Horizons Hotels should open a five-star hotel in Prague staffed by an international management team and international workers. It is also suggestible that additional research be made to decide whether to build a new hotel or buy an existing property.Both a tourist and business destination, Prague is an attractive site for a new hotel. Prague needs many more hotel rooms than it has; occupancy is high.Competition for a five-star hotel is limited. TheIntercontinental is too old to be a **petitor) the Panorama and Park are not in the center of the city; and the International is a leisure spa, not a business hotel. To have the **petitive advantage. New Horizons' hotel should be located in the shopping and business center of the city with ample banquet and conference space, parking, and modem facilities such as a health center, sauna, pool, and squash court.The number of trained personnel to work in the tourism industryis insufficient. Managers do not understand Western management methods. Workers have not been trained to give friendly, high-quality service. And only a few people speak English and other Western languages. New Horizons should bring in an international management team and international workers to provide the service international travelers expect in a five-star hotel.More information is needed to decide whether to build a new hotel or buy an existing property. Building a new hotel would be the simplest option, since any existing building would need extensive revision. However, an existing building would have architectural and perhaps historic interest and might be more appealing to tourists.PART 3 LISTENING （30 MIN） NOTE: IN THE REAL TEST, YOU WILL HAVE EXTRA 10 MINUTES TO TRANSFER YOUR ANSWERS TO YOUR ANSWER SHEET. SECTION 1 (Questions 1-12) -You will hear 3 conversations or messages. -Write ONE or TWO words or a number in the numberedBUSINESS PRESENTATION。

延迟退休英语作文1Nowadays, the issue of delaying retirement has become a topic of widespread concern. The main reason for this policy lies in the aging population. As the number of elderly people increases, the workforce is gradually shrinking. To ensure the smooth operation of society, it becomes necessary to extend the working years. For instance, in some industries that require rich experience and professional skills, such as healthcare and education, experienced workers' continued contributions are crucial.However, delaying retirement also has certain impacts on individuals. It may disrupt their original life plans. Some people might have expected to enjoy more leisure time after a certain age to pursue hobbies or spend time with family. Moreover, prolonged working hours might bring more stress and physical exhaustion.In conclusion, delaying retirement is a complex issue with both pros and cons. We need to find a balance between the needs of society and the rights and interests of individuals to ensure a sustainable and harmonious development.2In recent years, the issue of delayed retirement has sparked widespread discussions and debates. On the one hand, delaying retirementbrings certain benefits to economic and social development. For instance, it can increase the income of social security funds. As people continue to work for a longer period, they contribute more to the funds, thereby alleviating the burden of providing for the elderly. However, there are also disadvantages. One of the significant drawbacks is that it might lead to a reduction in employment opportunities for young people. With older workers remaining in the workforce for an extended time, there are fewer positions available for the younger generation, which could hinder their career development.Furthermore, when considering this issue from an industry perspective, certain physically demanding occupations may not be suitable for delayed retirement. Workers in these fields often face physical exhaustion and a decline in work efficiency as they age. For example, construction workers or miners might find it increasingly challenging to perform their duties safely and effectively if they are required to work beyond a certain age.In conclusion, the decision to implement delayed retirement should be made carefully, taking into account various factors such as the economic situation, the nature of different industries, and the overall employment environment. Only through a comprehensive and balanced assessment can a policy that is beneficial to both individuals and society as a whole be formulated.Nowadays, the issue of delaying retirement has become a topic of widespread discussion. In my opinion, while the policy may have some benefits for certain aspects of society, it also brings about various problems that cannot be ignored.For some individuals, especially those with poor physical conditions, extending their working years could be a huge burden. Take Mr. Smith for example. He has been struggling with chronic diseases for years and finds it increasingly difficult to cope with the daily work pressure. Continuing to work beyond the normal retirement age might seriously affect his health and quality of life.From the perspective of social fairness, different occupations should be treated differently when it comes to the delayed retirement policy. Jobs that require high physical strength and intense labor, such as construction workers, should not be subject to the same retirement age as those in office-based or less physically demanding occupations.In conclusion, although delaying retirement may seem like a solution to some economic and social challenges, it needs to be implemented with caution and consideration of individual circumstances and the nature of different occupations. Only by doing so can a balanced and fair outcome be achieved.In today's globalized world, the issue of delayed retirement has become a topic of significant concern and diverse policies exist among different countries. In developed countries like Japan and Germany, where the shortage of labor force is a common challenge, the implementation of delayed retirement policies is quite prevalent. This is mainly due to the aging population and the need to maintain a sufficient workforce to support economic growth and social welfare systems. Workers in these countries often have to continue working beyond the traditional retirement age to contribute to the economy and ensure the stability of social security.On the contrary, in many developing countries, the situation is rather different. Take some countries in South America and Africa as examples. Their economies are still in the process of rapid development, and the population structure is relatively younger. Here, the demand for immediate job opportunities for the younger generation is more pressing, and thus the implementation of delayed retirement policies may not be the main focus.The different policies of delayed retirement have profound impacts on the lives of people and the economies of various countries. In developed nations, it may bring certain financial relief to individuals and the government, but it also means longer working years and potential stress and health issues for workers. In developing countries, although the immediate pressure of delayed retirement is less, there are still challengesin providing sufficient employment opportunities and building a comprehensive social security system.In conclusion, the policy of delayed retirement is a complex issue that needs to be tailored to the specific circumstances of each country, taking into account factors such as population structure, economic development level, and social security system.5Nowadays, the issue of delaying retirement has sparked widespread discussions. It undoubtedly has a profound impact on both individual career development and mental health.Some people view it positively. They believe that more working years provide an opportunity to accumulate richer experience and greater wealth. For instance, professionals in certain fields like medicine or law can become even more proficient and accomplished with extended working periods, enhancing their expertise and reputation.However, on the contrary, there are also those who might be burdened by the prospect of delayed retirement. It could lead to increased work pressure and job burnout. Take the case of manual laborers who have been engaged in physically demanding jobs for many years. Continuing to work for an extended period might take a toll on their physical condition and mental well-being.In conclusion, the decision to delay retirement is a complex matterwith diverse implications. It requires a careful balance to ensure that it benefits individuals without causing excessive stress or harm to their mental and physical health. We should consider individual circumstances and the nature of different occupations to formulate more reasonable and flexible retirement policies.。

2022年考研考博-考博英语-中国财政科学研究院考试全真模拟易错、难点剖析B卷（带答案）一.综合题(共15题)1.翻译题41.我们必须全面深化改革，以释放市场活力对冲经济下行压力。

42.尽管财政收入增速放缓，支出压力加大，但我们要坚持以人为本，持续增加民生投入。

43.在基础设施、公共事业等领域，应积极推广政府和社会资本合作模式。

44.我们要全面推进依法治国，加快建设法治政府、创新政府、廉洁政府和服务型政府。

45.中国节能环保市场潜力巨大，它可以成为新兴的支柱产业。

【答案】41. In order to invigorate the market to offset downward economic pressure, we must comprehensively deepen reform.42. Despite the slowdown in the growth of government revenue and increased pressure on expenditures, we must continue to put people first, sustaining increases to spending in areas that are important to improving standards of living.43. Efforts should be made to promote Public-Private-Partnership in infrastructure, public utilities and other areas.44. We will fully promote the law-based governance of the country; move more swiftly to build an innovative, clean, service-oriented rule of law government.45. There is enormous potential in China’s market for energy conservation and environmental protection; energy conservation and environmental protection industry can develop into a new pillar of the economy.2.单选题We held a meeting to sum up our experience ______ we finish the work.问题1选项A.incidentallyB.whileC.immediatelyD.before【答案】C【解析】考查词义辨析。

五星级酒店坏账预提和审批英语版流程全文共3篇示例，供读者参考篇1Bad Debt Provision and Approval Process for a Five-Star HotelAs a hospitality student, one of the crucial aspects I've learned about managing a high-end hotel is the importance of effectively dealing with bad debts. In the world of luxury accommodations, where exceptional service and guest satisfaction are paramount, the financial implications of unpaid bills can be substantial. This is where the bad debt provision and approval process comes into play, serving as a safeguard against potential losses while maintaining the hotel's reputation and financial stability.The Bad Debt Provision: A Preemptive MeasureBefore diving into the approval process, it's essential to understand the concept of a bad debt provision. This provision is essentially an accounting practice that recognizes the potential for some accounts receivable to become uncollectible. In other words, it's a preemptive measure taken by the hotel to accountfor the possibility that certain guests may fail to pay their outstanding balances.The bad debt provision is typically calculated as a percentage of the total accounts receivable or based on an analysis of the aging of individual accounts. This percentage is determined by the hotel's management, taking into consideration factors such as historical data on bad debts, current economic conditions, and the overall risk profile of the guest population.The Approval Process: A Multi-Step ApproachOnce the bad debt provision has been established, the approval process kicks in to ensure that any write-offs or adjustments to the provision are thoroughly reviewed and authorized. This process typically involves multiple levels of approval, each serving as a check and balance to maintain transparency and accountability.Step 1: Departmental ReviewThe first step in the approval process involves a thorough review by the respective department responsible for the outstanding debt. This could be the front desk, the banquet department, or any other revenue-generating department withinthe hotel. The department manager will analyze the account in question, gather relevant documentation, and prepare a comprehensive report detailing the circumstances surrounding the unpaid balance.Step 2: Finance Department EvaluationAfter the departmental review, the report and supporting documentation are forwarded to the hotel's finance department. Here, a team of financial analysts and accountants will conduct a detailed evaluation of the case. They will review the efforts made to collect the outstanding debt, verify the accuracy of the information provided, and assess the feasibility of recovering the debt.Step 3: Bad Debt Committee ReviewMany five-star hotels have a designated Bad Debt Committee, comprising representatives from various departments, such as operations, finance, legal, and risk management. This committee convenes regularly to review and discuss the proposed bad debt write-offs or adjustments to the provision.During the committee meeting, each case is presented, and the members scrutinize the details, considering factors such asthe guest's history, the hotel's relationship with the guest, and any potential legal or reputational risks. The committee may request additional information or clarification from the respective departments before reaching a decision.Step 4: Executive ApprovalDepending on the amount of the bad debt and the hotel's internal policies, executive-level approval may be required. This could involve the hotel's general manager, the chief financial officer, or even the board of directors, particularly for larger write-offs or significant adjustments to the bad debt provision.At this stage, the executives will review the committee's recommendations, assess the potential impact on the hotel's financial performance, and evaluate any associated risks or legal implications. Their approval is typically the final step before the bad debt write-off or adjustment can be officially recorded in the hotel's financial statements.Step 5: Documentation and ReportingOnce the necessary approvals have been obtained, the finance department will record the bad debt write-off or adjustment in the hotel's accounting system. Detailed documentation of the entire process, including the committee'sdeliberations, executive approvals, and any supporting documentation, is maintained for audit and compliance purposes.Additionally, the hotel's management may require regular reporting on bad debt levels, trends, and the effectiveness of the collection efforts. This information helps inform future strategies and decision-making processes related to credit policies, guest screening, and overall risk management practices.The Importance of a Robust ProcessThe bad debt provision and approval process may seem complex and time-consuming, but it serves several critical purposes for a five-star hotel. First and foremost, it ensures that the hotel's financial statements accurately reflect its financial position by accounting for potential losses from uncollectible debts.Furthermore, the multi-step approval process promotes transparency, accountability, and effective risk management. By involving various stakeholders and subject matter experts, the hotel can make informed decisions and mitigate potential legal, reputational, or financial risks associated with bad debts.Moreover, a robust approval process helps maintain the hotel's reputation for exceptional service and guest satisfaction. By carefully evaluating each case and considering the guest's history and relationship with the hotel, the management can strike a balance between protecting the hotel's financial interests and preserving valuable guest relationships.ConclusionIn the world of luxury hospitality, the bad debt provision and approval process is a crucial aspect of financial management. It not only safeguards the hotel's financial stability but also contributes to its overall reputation and guest experience. As a student aspiring to work in the hospitality industry, understanding this process and its implications is essential for effective hotel management and maintaining the highest standards of service and professionalism.篇2Bad Debt Provision and Approval Process for Five-Star HotelsAs an aspiring hotelier, understanding the financial intricacies of the hospitality industry is paramount. One crucial aspect that often gets overlooked is the management of baddebts, particularly in the realm of luxury, five-star hotels. These establishments cater to an affluent clientele, but even the most prestigious venues can fall victim to uncollected payments, necessitating a robust system for provisioning and approving bad debt write-offs.At the core of this process lies the recognition that not every outstanding account receivable will be collected. Despite the best efforts of the hotel's billing and collection departments, certain factors may render some debts uncollectible. These factors could range from guests experiencing financial difficulties to disputes over service quality or simple oversight on the part of the customer.The first step in managing bad debts is to establish a comprehensive policy that outlines the criteria for identifying and classifying them. This policy should take into account the age of the outstanding balance, the customer's payment history, and any extenuating circumstances that may have contributed to the non-payment. For instance, a long-standing corporate client with an exceptional payment record may be granted more leeway than a first-time guest with a history of delinquency.Once the criteria for bad debts have been defined, the hotel must implement a systematic approach to monitoring andtracking these accounts. This typically involves maintaining a detailed aging report that categorizes outstanding balances based on the number of days they have been overdue. Accounts that have exceeded a certain threshold, say 90 or 120 days, may be flagged for further review and potential write-off.At this juncture, the hotel's accounting team plays a pivotal role. They are responsible for thoroughly investigating each flagged account, gathering relevant documentation, and assessing the likelihood of collection. This assessment may involve contacting the customer directly, reviewing correspondence or contracts, and consulting with the hotel's legal counsel if necessary.Based on their findings, the accounting team will generate a recommendation for either continuing collection efforts or writing off the debt as uncollectible. This recommendation, along with a detailed justification and supporting documentation, is then submitted to the appropriate level of management for review and approval.The approval process for bad debt write-offs is typically structured in a hierarchical manner, with varying levels of authority based on the monetary value of the debt in question. For smaller debts, the approval may rest with the hotel's financialcontroller or director of finance. However, larger debts or those involving high-profile clients may require the approval of senior management, such as the general manager or even the ownership group.This multi-tiered approval process serves several important purposes. First, it ensures that due diligence has been exercised in exhausting all reasonable collection efforts before resorting to a write-off. Second, it provides a system of checks and balances, reducing the risk of fraud or abuse. Finally, it allows for a more comprehensive evaluation of the potential impact on the hotel's financial performance and reputation.Once a bad debt has been approved for write-off, the accounting team will execute the necessary journal entries to remove the outstanding balance from the hotel's accounts receivable. This process typically involves crediting the accounts receivable account and debiting a bad debt expense account, effectively recognizing the loss on the hotel's financial statements.It is important to note that the bad debt provision and approval process is not a one-time event. Rather, it is an ongoing cycle that requires continuous monitoring and adjustment. The hotel's accounting team should regularly review the aging reportand make recommendations for further write-offs or adjustments to the bad debt provision as needed.In addition to the financial implications, the management of bad debts can also have a significant impact on the hotel's operational efficiency and customer relations. Unpaid balances can tie up valuable resources in collection efforts, diverting attention from more productive endeavors. Furthermore, a failure to effectively manage bad debts can lead to strained relationships with customers, potentially damaging the hotel's reputation and future business prospects.To mitigate these risks, many five-star hotels have implemented proactive measures to minimize the occurrence of bad debts in the first place. These measures may include requiring advance deposits or credit card authorizations for certain types of bookings, as well as implementing strict credit policies for corporate accounts or groups.Moreover, hotels may employ sophisticated revenue management systems that analyze historical data and identify potential risk factors associated with certain booking patterns or customer segments. By leveraging this data-driven approach, hotels can make more informed decisions about extendingcredit or requiring prepayment, thereby reducing their exposure to bad debts.In conclusion, the provision for bad debts and the associated approval process are critical components of financial management for five-star hotels. By implementing a robust system that combines clear policies, diligent monitoring, and a multi-tiered approval structure, these establishments can effectively manage the inevitable occurrence of uncollectible accounts while maintaining financial integrity and operational efficiency. Ultimately, a well-designed bad debt provision and approval process not only safeguards the hotel's bottom line but also protects its reputation as a world-class provider of luxury hospitality services.篇3Bad Debt Provision and Approval Process for a Five-Star HotelAs a student pursuing a degree in hospitality management, understanding the financial aspects of running a luxuriousfive-star hotel is crucial. One of the key areas that caught my attention during my studies was the process of managing bad debts and the corresponding approval procedures. Let me walkyou through this intricate process, providing insights into how these prestigious establishments safeguard their financial interests while maintaining a seamless guest experience.The Concept of Bad DebtsBefore delving into the specifics of the bad debt provision and approval process, it's essential to grasp the concept of bad debts itself. Bad debts, also known as delinquent debts or doubtful debts, refer to outstanding amounts owed by customers that the hotel deems unlikely to be collected. These debts can arise from various circumstances, such as guests leaving without settling their bills, credit card disputes, or bankruptcies.The Importance of Bad Debt ManagementEffective bad debt management is vital for the financial health and sustainability of a five-star hotel. These establishments cater to affluent clientele and often extend credit facilities, making them susceptible to potential non-payments. Failure to properly account for and manage bad debts can result in overstated revenue, cash flow issues, and potential legal complications.The Bad Debt Provision ProcessTo mitigate the impact of bad debts, five-star hotels employ a systematic approach known as the bad debt provision process. This process involves estimating the amount of outstanding debts that are unlikely to be collected and setting aside a portion of revenue to cover these potential losses. Here's a breakdown of the typical steps involved:Accounts Receivable Aging AnalysisThe first step in the bad debt provision process is conducting an accounts receivable aging analysis. This analysis categorizes outstanding customer balances based on the number of days they have been outstanding. Typically, accounts are classified into various aging buckets, such as 0-30 days, 31-60 days, 61-90 days, and over 90 days.Historical Bad Debt Percentage CalculationThe hotel's finance team then analyzes historical data to determine the percentage of outstanding balances that have historically resulted in bad debts for each aging bucket. This historical bad debt percentage serves as a basis for estimating future bad debt provisions.Bad Debt Provision CalculationUsing the accounts receivable aging analysis and the historical bad debt percentages, the finance team calculates the estimated bad debt provision for each aging bucket. The sum of these provisions represents the total bad debt provision for the period.Accounting TreatmentThe calculated bad debt provision is recorded as an expense in the hotel's income statement, reducing the overall revenue and net income for the period. Simultaneously, an allowance for doubtful accounts (a contra-asset account) is created on the balance sheet to reflect the estimated uncollectible amounts.The Bad Debt Approval ProcessWhile the bad debt provision process is crucial for financial reporting purposes, five-star hotels also have a robust approval process in place to ensure proper oversight and control over the write-off of actual bad debts. This approval process typically involves multiple levels of review and authorization, depending on the amount and nature of the bad debt.Initial Review and DocumentationWhen a customer account is identified as a potential bad debt, the hotel's accounting department conducts an initialreview to verify the outstanding balance, gather supporting documentation (such as correspondence with the customer, billing statements, and collection efforts), and prepare a write-off request.Department Manager ApprovalThe write-off request is then submitted to the department manager responsible for the respective revenue stream (e.g., rooms, food and beverage, or other services). The department manager reviews the request, assesses the circumstances surrounding the bad debt, and provides initial approval or rejection.Financial Controller ReviewIf approved by the department manager, the write-off request proceeds to the hotel's financial controller or chief accountant. This individual thoroughly examines the request, ensuring compliance with accounting standards, internal policies, and regulatory requirements. They may request additional documentation or clarification if needed.Executive Committee ApprovalFor significant bad debt amounts or high-risk cases, the write-off request is escalated to the hotel's executive committee,typically comprising the general manager, financial controller, and other senior executives. This committee evaluates the request from a strategic and risk management perspective, considering factors such as the potential impact on the hotel's reputation, legal implications, and long-term financial consequences.Board of Directors Approval (if applicable)In some cases, particularly for extraordinarily large bad debt amounts or cases with potential legal ramifications, the write-off request may require approval from the hotel's board of directors or the parent company's executive leadership. This level of scrutiny ensures proper governance and oversight for significant financial decisions.Continuous Monitoring and AdjustmentThe bad debt provision and approval processes are not one-time occurrences but rather ongoing activities that require continuous monitoring and adjustment. The finance team periodically reviews the accuracy of the bad debt provision estimates by comparing them with actual write-offs. If significant discrepancies are observed, the historical bad debt percentages and provision calculations are adjusted accordingly.Furthermore, the hotel's credit policies and collection practices may be revised based on the analysis of bad debt trends and patterns. This proactive approach helps mitigate future bad debt risks and ensures the financial sustainability of the five-star hotel operation.ConclusionManaging bad debts is a critical aspect of financial management for five-star hotels. The bad debt provision process ensures that the hotel's financial statements accurately reflect potential losses from uncollectible accounts, while the approval process provides a system of checks and balances for writing off actual bad debts. By implementing robust procedures and regularly reviewing and adjusting these processes, five-star hotels can maintain their financial integrity while delivering exceptional service to their discerning clientele.。

vocabulary1.After Henry lost his job,he couldn’t even afford the necessities of life.2.Our current economic circumstances preclude any nonessential purchases.3. The article puts a lot of emphasis on the value of failure as a learning experience.4. Success that comes too easily makes people more prone to failure when real challenges arise.5. Scientific discoveries would make greater contributions to society if all of them were properly applied to industrial production.6.nancy distingguished heself as an ice-skater at a very early age,winning three national competions befor she was fifteen.7.She was so obsessed with ice-skating that she never had time for normal childhood activities and experiences.8.Failure is painful for adults and children alike,but it can also be a good teacher.9.Sam called the interviewer to enquire about why his application had been turned down.10.My first impulse was to tell him he was a fool,but I controlled myself.11.Years of living overseas had made her practically a foreigner in her own country.12.The lecturer’s remarks prompted a storm of excited questions from the audience1.There are plenty of companies that are eager to sponsor young athletes if they show enough promise.2.To succeed in life it is not sufficient only to have talent,capacity and training,one must also have determination or a strong will.3.I don’t claim to be an expert on modern art,but I do know this painting is ugly!4.When his prospective employers learned that he had had a drinking problem,they decided against hiring him.5.The position requires a master’s degree and a minimum of two years’work experience.6.David struggled for years to make it as an actor,but ultimately gave up an went back to his musical career.7.Overseas students are eligible to enroll in all the regular courses,provided they have the necessary qualifications.8.A Korean company is planning to open a factory here,which will provide employment for about 2,000 people.9.I’d always worked in an academic setting,so my new position as an office manager was a big change for me.10.It’s much easier for big businesses to get bank loans than it is for small companies.11.There’s a new exhibit of classical artwork at the museum do you want to go?12.The city government’s first priority is to build a new airport this year.1.Stephen Hawking soon proved himself to be a scientist of great insight and creativity.2. Fear of making mistakes is one of the main obstacles to mastering spoken English.3.The disease affected his muscles and nervous system and gradually paralysed him.4.Cloning, a technological breakthrough,poses some serious ethical伦理的problems.5.This book has been proclaimed a modern masterpiece.6.The storms are predicted to reach the North of the country tomorrow morning.7.Initially, his theories created a lot of controversy in scientific circles,but now they’re widely accepted.8.The old man lives alone and is rarely visited by his neighbors,who consider him eccentric.9.The government must take some measures to narrow the gap between the rich and the poor.10.Although he knew he would inherit a great fortune from his father,Richard was determined to earn his own living.1.Part of a psychiatrist’s work is to provide counseling to help students with personal problems.2.When I’m very angry,I find it best toisolate myself from other people for a little while.3.It’s very sad that many AIDS victims find themselves shunned by friends and neighbors who can’t overcome their fears and prejudices.4.The government official commented on the present economic situation withmoderate satisfaction,saying that it is showing sings for the better.5.Mary sneaked off to Paris last weekend all by herself without telling anyone.She said she just suddenly felt like going away for a few days,and went.6.Many educators feel our schools do too little to promote creativity and critical thinking.7.If our institutions do not have good administration, money will be lost and nothing achieved.8. On her way to the airport, it flashed into Mary’s mind that she’d forgotten h er passport.9. A genius is someone who knows how to formulate ideas in words and communicate them to others.10. .Mr. Smith kept himself indoors for a whole week without even opening his windows, so his suspicious neighbors reported this to the police.1. We’re enjoying our holiday so much that we’ve decided to extend it for three more weeks.2. No,i don’t want a flag next to a construction site.It’s precisely because of all the noise at my old flat that I’m looking for a new one.3. A woman who witness the accident said that both cars were going at high speed when they crashed.4. It’s certain to end it in war if either side violates the treaty again.5. Mrs.Williams screamed with terror when she saw that the man had a gun.6. The financial situation might get better,but it doesn’t look very hopeful right now.7. we have absolute confidence in our newly elected leaders.8. For the security of the passengers,all hand baggage is carefully checked.9. Tom was arrested last night for driving under the influence of alcohol.10. The spectators cheered wildly when the team scored a goal in the final seconds of the match.11. When visiting a foreign country,we must respect that country’s customs.12. People did not see the bomb dropping but they could hear the explosion several miles away.。

对外经济贸易大学国际商学院《高级商务英语》期末试卷试卷内容（请将答案填在本文件后面的答题纸上）===================================================================== I. Multiple choice 20% Choose the best answer either to complete the sentence or to replace the underlined part.1. The fog _____ thick, all the ferry boats were suspended.A. isB. beingC. having beenD. was2. She said she wouldn’t call us the next day, _____ she?A. wouldB. wouldn’tC. didD. didn’t3. The prisoner pleaded that he _____ allowed to see his family, who did not yet knowof his conviction.A. isB. wasC. beD. could be4. It’s a shame _____ able to give them any advice.A. to not have beenB. to have not beenC. to have been notD. not to have been5. After we made the improvement, there were only _____ as before.A. one tenth defective products as manyB. defective products one-tenth asmanyC. defective products as one-tenth manyD. one-tenth as many defectiveproducts6. With every transaction we perform _____ electronically, we could have ourselvesopen to electronic monitoring or control by government.A. having recordedB. being recordedC. to recordD. recording7. The father, who was illiterate, said to his son that he was _____ dog to learn newtricks.A. much too old aB. so much old aC. a much too oldD. a so muchold8. The Homestead Act of 1862 _____ to acquire land at a small cost.A. made possibleB. made the possibilityC. made it possibleD. possiblymade9. The earth revolves a little more rapidly _____ it is closer to the sun.A. whenB. orC. thanD. wherever10. The elderly Russians find it hard to live on their state _____.A. donationsB. earningsC. salariesD. pensions11. Teaching students of threshold level is hard work but the effort is very _____.A. preciousB. rewardingC. worthD. challenging12. It is up to the government to tackle the air pollution problem and _____ measuresin line with the council’s suggestions.A. set aboutB. work outC. fill upD. bring over13. Many people, if not most, _____ literary taste as an elegant accomplishment, byacquiring which they will complete themselves, and make themselves finally fit as members of a correct society.A. look onB. look downC. look inD. look into14. They are _____ investors who always make thorough investigations both on localand international markets before making an investment.A. implicitB. consciousC. cautiousD. indecisive15. Mutual respect for territorial _____ is one of the bases upon which our twocountries develop relationship.A. unityB. integrityC. entiretyD. reliability16. In this poor country, survival is still the leading industry; all else is _____.A. luxuryB. accommodationC. entertainmentD.refreshment17. In those days, executives expected to spend most of their lives in the same firmand, unless they were dismissed for _____, to retire at the age of 65.A. integrityB. denialC. deductionD.incompetence18. The design of this auditorium shows a great deal of _____. We have never seensuch a building before.A. inventionB. illusionC. originalityD. orientation19. It is no _____ that a large number of violent crimes are committed under theinfluence of alcohol.A. coincidenceB. correspondenceC. inspirationD. intuition20. The economic crises in that country have threatened the _____ of thegovernment.A. persistenceB. capabilityC. stabilityD.permanenceII. Explain clearly the following terms. 10%venture capitalIndustrial RevolutionIII. Answer the following questions. 15%What factors foster the globalization of a country, big or small? What are some of the benefits countries can enjoy in the process of globalization? Why are some countries worried about globalization?IV. Cloze. 15%Mood and MarketingOne factor that can influence consumers is their mood states. Mood may be defined __1__ a temporary and mild positive or negative feeling that is generalized and not tied __2__ any particular circumstance. Moods should be __3__ from emotions which are usually more intense, related to specific circumstances, and often conscious.__4__ one sense, the effect of a consumer’s mood can be thought of in __5__ the same way as can our reactions to the behavior of our friends __ when our friends are happy and “up”, that tends to influence us positively, __6__ when they are “down”, that can have a negative impact on us. Similarly, consumers operating under a __7__ mood state tend to react to stimuli in a direction __8__ with the mood state. Thus, for example, we should expect to see __9__ in a positive mood state evaluate products in more of a __10__ manner than they would when not in such a state. __11__, mood states appear capable of __12__ a consumer’s memory. Moods appear to be __13__ influenced by marketing techniques. For example, the rhythm, pitch, and volume of music have been shown to influence behavior such as the amount of time spent in supermarkets or __14__ to purchase products. In addition, advertising can influence consumers’ moods which, in __15__, are capable of influencing consumers’ reactions to products. (224 words)1. A. as B. about C. by D. with2. A. over B. under C. to D. up3. A. derived B. descended C. divided D.distinguished4. A. On B. Of C. In D. By5. A. thus B. much C. even D. still6. A. for B. but C. unless D. provided7. A. given B. granted C. fixed D. driven8. A. resistant B. persistent C. insistent D. consistent9. A. consumers B. businessmen C. retailers D.manufacturers10. A. casual B. critical C. serious D. favorable11. A. However B. Otherwise C. Moreover D.Nevertheless12. A. lifting B. enhancing C. raising D. cultivating13. A. readily B. rarely C. cautiously D. currently14. A. facilities B. capacities C. reflections D. intentions15. A. total B. turn C. detail D. depthV. Reading comprehension. 15%Passage 1What is meant by the term economic resources? In general, these are all the natural, man-made, and human resources that go into the production of goods and services. This obviously covers a lot of ground: factories and farms, tools and machines, transportation and communication facilities, all types of natural resources, and labor. Economic resources can be broken down into two general categories: property resources - land and capital, and human resources - labor and entrepreneurial skills.What do economists mean by land? Much more than non-economists. Land refers to all natural resources that are usable in the production process: cultivatable land, forests, mineral and oil deposits, and so on. What about capital? Capital goods are all the man-made aids to producing, storing, transporting, and distributing goods and services. Capital goods differ from consumer goods in that the latter satisfy wants directly, while the former do so indirectly by facilitating the production of consumer goods. It should be noted that capitals as defined here do not refer to money. Money, as such, produces nothing.The term labor refers to the physical and mental talents of humans used to produce goods or services (with the exception of a certain set of human talents, entrepreneurial skills, which will be considered separately because of their special significance). Thus the services of a factory worker or an office worker, a ballet dancer or an astronaut all fall under the general heading of labor. (238w)1. In Paragraph 1, the author uses the expression "This obviously covers a lot ofground" to indicate that ------.A. the factories and farms discussed in the passage are very largeB. e conomic resources will be discussed in great depthC. the topic of economic resources is a broad oneD. land is an important concept in economics2. When non-economists use the term "land", its definition ------.A. is much more general than when economists use itB. is much more restrictive than when economists use itC. changes from place to placeD. includes all types of natural resources3. Which of the following could be considered a kind of capital goods as defined inthe passage?A. A rail road.B. Money.C. A coal deposit.D. Humanskills.4. The word "heading" in the last sentence is closest in meaning to ____.A. directionB. practiceC. categoryD. utility5. What is the author's main purpose in writing this passage?A. To explain the concept of labor.B. T o criticize certain uses of capital.C. To contrast capital goods and consumer goods.D. To define economic resources.Passage 2Large companies need a way to reach the sayings of the public at large. The same problem, on a smaller scale, faces practically every company trying to develop new products and create new jobs. There can be little prospect of raising the sort of sums needed from friends and people we know. And while banks may agree to provide short-term finance, they are generally unwilling to provide money on a permanent basis for long-term projects. So companies turn to the public, inviting people to lend them money, or take a share in the business in exchange for a share in future profits. This they do by issuing stocks and shares in their business through a stock exchange. By doing so they can put into use the savings of individuals and institutions, both at home and overseas.When the investor needs his money back, he does not have to go to the company with whom he originally placed it. Instead, he sells his shares through a stockbroker to some other person who is seeking to invest his money. Many of the services needed both by industry and by each of us are provided by the government or by local authorities. Without hospitals, roads, electricity, telephones, railways, etc. this country could not function. All these require continuous spending on new equipment and new development if they are to serve us properly, requiring more money than is raised through taxes alone. The government, local authorities, and nationalized industries therefore frequently need to borrow money to finance major capital spending, and they, too, come to a stock exchange.There is hardly a man or woman in this country whose job or whose standard of living does not depend on the ability of his or her employers to raise money to finance new development. In one way or another this new money must come from the investment funds of the country. Stock exchanges exist to provide a channel through which these funds can reach those who need financing. (333w)1. Almost all companies involved in production and development must ____.A. rely on their own financial resourcesB. persuade banks to provide long-term financeC. borrow large sums of money from friends and people they knowD. depend on the public as a whole for financing2. The money which enables these companies to go ahead with their projects is ____.A. repaid to its original owners as soon as possibleB. raised by selling sharesC. exchanged for partial ownership of the stock exchangeD. invested in different companies on the stock exchange3. When the investors want their money back they ____.A. ask another company to obtain their money for themB. look for other people to borrow money fromC. put their shares back on the marketD. transfer their money to a more successful company4. Many essential services on which we depend are ____.A. run by industriesB. in constant need of financial supportC. financed wholly by rates and taxesD. unable to provide for the needsof the population5. The stock exchange makes it possible for the government, local authorities andnationalized industries ------.A. to raise money to finance new developmentsB. to make certain everybody saves moneyC. to borrow as much money as they wishD. to make certain everybody lends money to themVI. Translate the following sentences into English. 10%1.总统的讲话加剧了股市可能会暴跌的猜测。