American economy

American EconomyGeneral IntroductionAmerican economy is now the largest in the world. America possesses toughly 25% of the world’s output, about 5% of the world’s population, and the great variety of climatic conditions, soil types, and minerals.The American capitalistic economy has developed largely by a process of continual change. The dominating force has not been a central plan but individuals and associations of individuals trying to advance their own interests by producing, buying, and selling in predominantly free and competitive markets. In American economy, privately owned and operated businesses, including farms, produce about 85% of the total final output of goods and services. People in independent professional practice, such as doctors lawyers, and accountants, produce about 3% of the total. Government units, including school districts, turn out most of the rest of the country's products and services.Business employees, including the self-employed, such as farmers, make up the largest proportion of the working population, accounting for more than 75%. Government workers at national, state, and local levels come next, with approximately 21%. Employees of nonprofit organizations and domestic servants account for most of the others. The United States operates with a competitive market economy. Wages, prices, the allocation of goods and services, and theemployment of resources are generally regulated by the law of supply and demand. The market has the advantage that the process of decision-making is decentralized and responsive to the expressed wishes of consumers. A desire on the part of consumers for a given product will induce business firms to produce the product, so long as it can be done at a profit.American AgricultureThe United States is the world's leading exporter of agricultural products.While agriculture has a comparatively small share of the national economy and employment, the industry nonetheless remains one of the country's most important. American Agriculture meets the nation's principal domestic requirement for food and natural textile fibers, while supplying about 20% of the value of American exports.Cereal grains constitute the second most important export, with vegetable oils and related products not far behind. The position of the United States in World agricultural trade is explained by the extraordinary productivity of U. S. farm labor. With perhaps half of 1% of the world agricultural labor force, the United States produces nearly 20% of the grains, including 50% of the corn, grown in the world. It ranks first, second, or third in the production of corn, wheat, soybeans, oranges, meats, milk, apples, oats, cotton, tobacco, peanuts, and edible vegetable oils. Agricultural regionally.activities are widely distributed.The leading producing areas for field crops are the plains states for wheat, the Midwest for corn and soybeans; the southern states for cotton, tobacco, and rice. The area of the pacific coast for fruits, vegetables and wheat. The leading sources of livestock and other products are the Midwest, Oklahoma, and Texas for cattle; Wisconsin, New York, Minnesota, and California for dairy products, and Arkansas, Georgia, Alabama, and North Carolina for poultry. Most farms are family owned, although large corporations have made inroads into the farming industry since World War I. The scale of operations has increased dramatically, and the volume and value of capital used per farm have risen. While many small farms remain, production is now dominated in many subdivisions of the industry by large family-owned and corporate farms.American economy developmentIn 1640s, American had slipped into the habit of shipping their goods to continental ports. After the restoration, English was in a position to enforce a strict commercial policy,beginning with the navigation Acts of 1660 and 1663. The Revolution war ended the dominance of England and made the colony independent, which contribute to the capitalism of America. Introduction of the factory system gathered many workers and American system of mass production originated in the firearms industry. And new technology was applied to industrial tasks. The new forms ofbusiness organization emerged, notably the bank and the corporation,which facilitated the growth of industry. The construction of railways beginning in the 1830s, marked the start of a new era for the United States. Cotton was much in demand after 1785as the British cotton textile industry developed. So cotton plantations expanded in the South and Southwest of the US, especially after Eli Whitney invented the cotton gin in 1793.The rapid economic development following the Civil war laid the groundwork for the modern U.S. industrial economy. An explosion of new discoveries and inventions took place, causing such profound changes that some termed the results a second industrial revolution. Technological changes, new power sources, the development of the corporation based on multiple ownership of stock, and other forces brought forth the modern big business firm.The Crash of 1929 led the American economy into a long depression. And a person to come to their rescue was Franklin Delano Roosevelt, who helped America out of the crisis and on the way to becoming an economically strong and prosperous society. Mobilizing production and wartime prosperity. World War had its most profound impact on American domestic life by at last ending the Great Depression. By the middle end of the 1941,the economic problems had virtually vanished. The first postwar president, Democrat Harry Truman favored a majorexpansion of the New Deal. Days after the Japanese surrender, Truman submitted to Congress a twenty point domestic program outlining what he later termed the New Deal. Myth of the new economy. A recession marked the early years of Reagan presidency, but condition started to improve in 1983 and the US entered one of the longest period of sustained economic growth since World War.Free EnterpriseFree enterprise means the owner of the management has the freedom of investment, management, trade liberalization and free entry and exit of the freedom of the market, the enterprise's survival or not, scale, benefit and growth speed depends on the choice of the market, there should be no violation of any of the principle of economic freedom external restrictions or administrative protection. Transparency refers to transaction both sides sought to provide a comprehensive and accurate transaction information, but also can keep its promise. Freedom is not to abandon self-discipline, on the contrary, freedom is the premise of self-discipline. Self-discipline is the free enterprise characteristic, but also free foundation of the existence of enterprises. Samuel slater could not have opened that very important original textile factory unless people had been prepared to provide money to buy the land and build the factory. Samuel Slater, the father of American manufactures, was the classic pioneer of factory production of textile yarns. only the obvious inability of him to cope witha rapidly growing and changing industry in the 1820s and 1830s forced him to integrate spinning, weaving, and finishing operations and to turn over broad responsibility in individual factories to what is perhaps the earliest example of the professional manager. Individual starts enterprise with money borrowed from others.They share the profit gained with those investors.They can buy a small portion of a business and become part owner of the company. Free enterprise is a good way that encourage people go into business.For instance. They can investment trade in market for every time. It's a good idea to control people urge to accumulate wealth with those socialistic ideas. An economy based on free enterprise is generally characterized by private ownership and initiative, with a relative absence of government involvement. Free enterprise is so common in the US, but sometimes, investor lack a great deal of money so that they only buy a small portion of business. So buying and selling shares emerged.The Roots of AffluenceNo single factor is responsible for the successes of American business and industry. America covers an area of 9,363,123 square kilometers ,which is the world’s fourth largest country. America is consisted of 50 states and a district and 48 states are in the mainland. It has a long boundary with the Great Lakes in its north, the Gulf of Mexico to its north, the Atlantic Ocean to its east and the Pacific Ocean to its west.Geographically, America can be divided into three tandem parts: the highland in the west, the plain in the middle and the Appalachia Mountain in the east. The plain covers a vast area, which benefits its agriculture a lot. American territory is 1/20 of the world’s land area while its pl ough is 1/10 of the world. The United States is a land rich in natural resources. Some of these resources are especially plentiful in the country. America has a large deposit of iron ore. The nation produces more than 80 million tons of iron a year. Coal is another major natural resource found in large quantities in the U. S. which can last for hundreds of years. America, very rich in oil, was once the largest oil producing country in the world. America has also plenty of fertile soil. Farmlands in the United States make up about 12% of the arable lands in the world. America enjoys abundant water resources. And 32% of the land is covered with forests. The current U.S.A. population is over 311 million people ,so the United States has the world‘s third largest population. The US is a country of immigrants. Never before, and in no other country, have as many varied ethnic groups congregated and amalgamated as they have in America. So America "is not merely a nation but a nation of nations". Furthermore, a new national study shows that religious affiliation plays a powerful role in how much wealth Americans accumulate, with Jews amassing the most wealth and conservative Protestants the least. The results suggest people draw on the tools they learn from religion to develop strategies for saving,investing and spending, and those tools may be different in various faiths. People who attend religious services regularly build more wealth than those who don’t. The courage, hard work and determination of countless entrepreneurs and works have play a part of the American economy. Also, most forms of entertainment are created and produced in the U.S.A. The best movies, music albums, books and the like are produced in America.The Current RecessionIn late 2007, the US economy suffered a severe recession. The crisis began in America and soon turned global. The most immediate impact upon the US is the failure of key business, declines in consumer wealth estimated in trillions of US dollars, substantial financial commitments such as government bailout of investment banks, incurred by governments, and s significant decline in economic activity. It is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. By October 2009, the US unemployment rate increased to 10.2 percent, the highest rate since 1983 and roughly twice the pre-crisis rate. US GDP decreased at an annual rate of approximately 6 percent in the fourth quarter of 2008 and the first quarter of 2009. To combat the financial crisis, United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009.。

american economy review格式American Economy ReviewIntroduction:The American economy plays a critical role not only in the United States but also in the global market. This article will provide a comprehensive review of the American economy, focusing on its trends, challenges, and future prospects.I. Overview of the American EconomyThe American economy is the largest in the world and exhibits resilience despite periodic economic downturns. Its key features include a highly diverse labor force, advanced technology, and a strong entrepreneurship culture. The country boasts a mixed economic system, where both private and government sectors play significant roles.II. Current Economic Trends1. GDP Growth: Over the past decade, the American economy has experienced moderate GDP growth. However, the global pandemic of COVID-19 in 2020 significantly impacted the economic growth, resulting in a contraction of GDP. The subsequent recovery has shown promising signs, with a projected GDP growth rate of 6.5 in 2021.2. Unemployment Rate: Prior to the pandemic, theAmerican economy had notably low unemployment rates. However, the outbreak led to a surge in job losses, raising the unemployment rate to unprecedented levels. Post-pandemic recovery efforts and vaccination campaigns have aided in reducing the unemployment rate, which is expected to decline steadily in the coming years.3. Inflation: Inflation has been relatively stable in recent years, with an average annual rate of approximately 2. However, the pandemic-induced disruptions in supply chains and increased government spending have raised concerns about potential inflationary pressures.III. Key Challenges Facing the American Economy1. Income Inequality: The American economy grapples with a widening income gap. Despite overall economic growth, a significant portion of the population experiences stagnant wage growth and limited upward mobility. Addressing income inequality has become a critical challenge for policymakers.2. Fiscal Deficit: The United States has been grappling witha consistent fiscal deficit, fueled by increased government spending and tax policies. While deficit spending can boost economic growth in the short term, it raises concerns about the long-term impact on the national debt and economicsustainability.3. Automation and Job Displacement: Advancements in technology, such as automation and artificial intelligence, pose a threat to job security for many workers. The American economy must adapt by upskilling and investing in new sectors to minimize the impact of job displacement.IV. Future Prospects and Policy Recommendations1. Infrastructure Investment: The American economy can benefit from substantial investments in infrastructure projects. This would not only create jobs but also enhance productivity and improve the country's global competitiveness.2. Renewable Energy Transition: Transitioning to renewable energy sources can lead to job creation, reduce carbon emissions, and enhance energy security. Policymakers should prioritize policies and incentives that support and accelerate the renewable energy transition.3. Education and Workforce Development: Investing in education and workforce development programs is crucial to equip American workers with the skills needed for the jobs of the future. Promoting STEM education, vocational training, and apprenticeship programs can ensure a skilled workforce and enhance economic growth.4. Addressing Income Inequality: Policies such as increasing the minimum wage, expanding access to affordable housing, and improving social safety nets can contribute to reducing income inequality and promoting economic stability.Conclusion: The American economy faces both opportunities and challenges as it strives to recover from the COVID-19 pandemic and ensure long-term sustainable growth. By addressing income inequality, addressing fiscal deficits, adapting to technological advancements, and implementing strategic policies, the United States can navigate a path towards a resilient and prosperous economy.。

As we know, the strongest economic country is America .Since we learned from the class we must have known more about it .Over the 200 years, from 1776 up to now, the country has advanced a lot and become the most eye-catching nation. To some extent, the United States is leading the times .Not even me, I think the majority of us, wa nt to ask the same question “Why does the development of American economy go so leaps and bounds ?what advantages factors help them? And what we should do to develop our economy c an catch up with them?” America’s rise has provided us with a lot of meaningful experience. We should learn from it and promote our own country.Of course, there are many other measures that contribute to the rise of America .Then I will explain the reasons in the following parts1. Industrial revolution.It’s no doubt that the developments of American economy are begin with industrial revolution. Science and technology are the first productivity and of great importance to the development of society. With out exception, America’s development largely depends on science and technology. The industrial revolutions were so important to it.There are five develop stage of industrial revolution.First development was the introduction of the factory system ,which gathered many workers together in one workplace and produced goods for distribution over a wide area .The first factory in the United States is generally dated to 1793. It was a cotton textile mill in Pawtucket, Rhode Island, that combined carding, roving and spinning operation. An English man named Samuel Slater came to American to build a cotton cloth factory. He built the machinery from memory, because it was a crime to carry factory plant out of England. The success of Slater’s factory started a process of change that turned the northeastern region of the United States into an important manufacturing center. The making of textiles also meant increased demand for cotton, grown in the southern region of the United States. As a result, the nation became a major cotton producer.Second development was the “American system” of mass production which originated in the firearms industry about 1800. The new system required precision engineering to create that were interchangeable. This, in turn, allowed the final product to be assembled in stages, each worker specializing in a specific operation. The cotton gin -----that rapidly removed the seeds from the bolls of the cotton. The “moving assembly line” made possible a major saving in labor costs by improving efficiency. During the first half of the 20th century, mass production of consumer goods such as cars, refrigerators and kitchen ranges.Third development was the application of new technologies to industrial tasks. Large water wheels and water turbines drove the machinery of early factories. As the steam engine was perfected, it provided an alternative source of energy, first for mobile operations such as powering steamboats and locomotives, then for factories. The textile industry, the dominant American industry for many decades, completed the switch to steam power after 1860.The economic activity increased as a result of new inventions. Such as sewing machines, the telegraph, railroads, food-processing plant, the telephone, the perfection of the electric light bulb, the phonograph, the camera, moving picture and many others devices.The fourth development was the emergency of new forms of business organization, notably the bank and the cooperation, which facilitated the growth of industry. The first American commercial bank appeared in the 1780s and more banks soon followed. For many years, the only paper money consisted of “bank notes” that represented a particular bank’s promise to pay. Banking policy was highly controversial and early attempts to establish a national or central bank wereshort-lived. Not until 1863 did the United States create a truly national banking system with a standard paper currency.Then we can draw a conclusion as follows. In the first revolution, America went on very well because of its natural resources. And in a very short time, regional economy developed. It is deserved to be mentioned that the government’s policies were so powerful, such as establishing national banks, encouraging technological advancement and so on. These really mad e great contributions to the nation’s rise.During the second revolution, Americans took the most use of new energies, such as electricity. On the one hand, it directly promoted the progress of heavy industry. On the other hand, it made mass production possible and laid a foundation for economic monopoly. It not only added a lot financial income but also strengthened the economic system. What’s more, the world science and technology center moved from Europe to America.Then, America began to lead the world industrial revolutions. The most meaningful reason for its improvement might be that Americans are good at absorbing advanced technology and innovating breakthroughs. Therefore, American productivity and enterprise management system are in continuous innovation process. As a result, in the science and technology, America has being playing a leading role around the world.2. Free enterpriseMost Americans think that the rise of their nation as a leading producer of manufactured goods, food and services could not occurred without the economic freedom capitalism---which many prefer to call free enterprise.A most important factor is capital. On my point of view, they can divide to two main parts. One is money borrower, the people who need money to buy the land and build the factory. As a result, investor appeared---the other part. They find that they could make money by lending it to those who wanted to start or to expand a business. That led to the creation of an important part of the current economic scene: the selling of stock, or shares, in a business. So the stock trading was greatly increased in the vigorous free-market climate of the young America.Then many places are called stock exchanges are appeared, the best-known is perhaps he New York Stock Exchange, located in the Wall Street area of New York City, the nation’s largest city and a major business center. The government has conducted many economic policies to promote the development .American lost no time in industrializing their new nation and in building trade with other countries .it attracts and absorb foreign investment, establishing a financial reserve system to make the market creative and powerful. Besides, Americans do well in paying attention toadjusting measures to economically underdeveloped areas. There they implement a diversified economy. Having experienced the Great Depression, the government strengthened the intervention to the market and improved the economic system.3. ConclusionThe rise of the United States is a result of so many reasons from every aspect. However, the process is not as right as rain. America has faced quite a few difficulties and problems. Americans are not defeated. They just keep moving and creating their own mythologies.Although China is quite different from the United States, we Chinese can still learn from its experience. In the wave of international economy, we should learn from it and grasp the chances and be willing to take challenges.First, Innovation is the spirit of a nation’s advancement. We should encourage it and make our nation more energetic and creative. Second, we should put enough money to education so that we c should put enough money to education so that we can train more excellent people. At the same time, improve the technology. What’ more, we should make full use of our resources and recycle using them.In a word, China should keep pace with the times and adhere to the policy of reformation and opening.American Economy----The leader of the world’s economyMajor: International economy and tradeGrade and glass :2011.01Student number :1107010101Name ：Zhou Bi Rong 周必荣Time :2013.06.20。

American Economic Review美国经济评论V olume 100, Issue 4，20101. Title: Morally Motivated Self-Regulation.Authors: Baron, David P.Abstract: Self-regulation is the private provision of public goods and private redistribution. This paper examines the scope of self-regulation motivated by altruistic moral preferences that are reciprocal and stronger the closer are citizens in a socioeconomic distance. The focus is on the role of organizations in increasing self-regulation by mitigating free-rider problems. Social label and certification organizations can expand the scope of self-regulation but not beyond that with unconditional altruism. Enforcement organizations expand the scope of self-regulation farther, and for-profit enforcement is more aggressive than non-profit enforcement. Enforcement through social pressure imposed by NGOs also expands the scope of self-regulation.2. Title: Identifying the Elasticity of Substitution with Biased T echnical Change. Authors: León-Ledesma, Miguel A; McAdam, Peter; Willman, Alpo.Abstract: The capital-labor substitution elasticity and technical biases in production are critical parameters. The received wisdom claims their joint identification is infeasible. We challenge that interpretation. Putting the new approach of 'normalized' production functions at the heart of a Monte Carlo analysis we identify the conditions under which identification is feasible and robust. The key result is that jointly modeling the production function and first-order conditions is superior to single-equation approaches especially when merged with 'normalization.' Our results will have fundamental implications for production-function estimation under non-neutral technical change, for understanding the empirical relevance of normalization and variability underlying past empirical studies.3. Title: Social Comparisons and Contributions to Online Communities: A Field Experiment on MovieLens.Authors: Chen, Yan; Harper, F. Maxwell; Konstan, Joseph; Li, Sherry Xin. Abstract: We design a field experiment to explore the use of social comparison to increase contributions to an online community. We find that, after receiving behavioral information about the median user's total number of movie ratings, users below the median demonstrate a 530 percent increase in the number of monthly movie ratings, while those above the median decrease their ratings by 62 percent. When given outcome information about the average user's net benefit score, above-average users mainly engage in activities that help others. Our findings suggest that effective personalized social information can increase the level of public goods provision.4. Title: Are Health Insurance Markets Competitive?Authors: Dafny, Leemore S.Abstract: To gauge the competitiveness of the group health insurance industry, I investigate whether health insurers charge higher premiums, ceteris paribus, to more profitable firms. Such 'direct price discrimination' is feasible only in imperfectly competitive settings. Using a proprietary national database of health plans offered by a sample of large, multisite firms from 1998-2005, I find firms with positive profit shocks subsequently face higher premium growth, even for the same health plans. Moreover, within a given firm, those sites located in concentrated insurance markets experience the greatest premium increases. The findings suggest health care insurers are exercising market power in an increasing number of geographic markets.5. Title: Wage Risk and Employment Risk over the Life Cycle.Authors: Low, Hamish; Meghir, Costas; Pistaferri, Luigi.Abstract: We specify a life-cycle model of consumption, labor supply and job mobility in an economy with search frictions. We distinguish different sources of risk, including shocks to productivity, job arrival, and job destruction. Allowing for job mobility has a large effect on the estimate of productivity risk. Increases in the latter impose a considerable welfare loss. Increases in employment risk have large effects on output and, primarily through this channel, affect welfare. The welfare value of programs such as Food Stamps, partially insuring productivity risk, is greater than the value of unemployment insurance which provides (partial) insurance against employment risk.6. Title: The Law of the Few.Authors: Galeotti, Andrea; Goyal, Sanjeev.Abstract: Empirical work shows that a large majority of individuals get most of their information from a very small subset of the group, viz., the influencers; moreover, there exist only minor differences between the observable characteristics of the influencers and the others. We refer to these empirical findings as the Law of the Few. This paper develops a model where players personally acquire information and form connections with others to access their information. Every (robust) equilibrium of this model exhibits the law of the few.7. Title: Technology Capital and the US Current Account.Authors: McGrattan, Ellen R; Prescott, Edward C.Abstract: The US Bureau of Economic Analysis (BEA) estimates that the return on investments of foreign subsidiaries of US multinational companies over the period 1982-2006 averaged 9.4 percent annually after taxes; US subsidiaries of foreign multinationals averaged only 3.2 percent. BEA returns on foreign direct investment (FDI) are distorted because most intangible investments made by multinationals are expensed. We develop a multicountry general equilibrium model with an essential role for FDI and apply the BEA's methodology to construct economic statistics for the model economy. We estimate that mismeasurement of intangible investments accounts for over 60 percent of the difference in BEA returns.8. Title: Sovereign Risk and Secondary Markets.Authors: Broner, Fernando; Martin, Alberto; Ventura, Jaume.Abstract: Conventional wisdom says that, in the absence of default penalties, sovereign risk destroys all foreign asset trade. We show that this conventional wisdom rests on one implicit assumption: that assets cannot be retraded in secondary markets. Without this assumption, foreign asset trade is possible even in the absence of default penalties. This result suggests a broader perspective regarding the origins of sovereign risk and its remedies. Sovereign risk affects foreign asset trade only if default penalties are insufficient and secondary markets work imperfectly. To reduce its effects, one can either increase default penalties or improve the working of secondary markets.9. Title: Pavlovian Processes in Consumer Choice: The Physical Presence of a Good Increases Willingness-to-Pay.Authors: Bushong, Benjamin; King, Lindsay M; Camerer, Colin F; Rangel, Antonio. Abstract: This paper describes a series of laboratory experiments studying whether the form in which items are displayed at the time of decision affects the dollar value that subjects place on them. Using a Becker-DeGroot auction under three different conditions-(i) text displays, (ii) image displays, and (iii) displays of the actual items-we find that subjects' willingness-to-pay is 40-61 percent larger in the real than in the image and text displays. Furthermore, follow-up experiments suggest the presence of the real item triggers preprogrammed consummatory Pavlovian processes that promote behaviors that lead to contact with appetitive items whenever they are available.10. Title: Determinants of Redistributive Politics: An Empirical Analysis of Land Reforms in West Bengal, India.Authors: Bardhan, Pranab; Mookherjee, Dilip.Abstract: We investigate political determinants of land reform implementation in the Indian state of West Bengal. Using a village panel spanning 1974-1998, we do not find evidence supporting the hypothesis that land reforms were positively and monotonically related to control of local governments by a Left Front coalition vis-à-vis the right-centrist Congress party, combined with lack of commitment to policy platforms. Instead, the evidence is consistent with a quasi-Downsian theory stressing the role of opportunism (reelection concerns) and electoral competition.11. Title: Monopoly Price Discrimination and Demand Curvature.Authors: Aguirre, Iñaki; Cowan, Simon; Vickers, John.Abstract: This paper presents a general analysis of the effects of monopolistic third-degree price discrimination on welfare and output when all markets are served. Sufficient conditions-involving straightforward comparisons of the curvatures of the direct and inverse demand functions in the different markets-are presented for discrimination to have negative or positive effects on social welfare and output.12. Title: Strategic Redistricting.Authors: Gul, Faruk; Pesendorfer, Wolfgang.Abstract: Two parties choose redistricting plans to maximize their probability of winning a majority in the House of Representatives. In the unique equilibrium, parties maximally segregate their opponents' supporters but pool their own supporters into uniform districts. Ceteris paribus, the stronger party segregates more than the weaker one, and the election outcome is biased in the stronger party's favor and against the party whose supporters are easier to identify. We incorporate policy choice into our redistricting game and find that when one party controls redistricting, the equilibrium policy is biased towards the preferences of the redistricting party's supporters.13. Title: A Price Theory of Multi-Sided Platforms.Authors: Weyl, E. Glen.Abstract: I develop a general theory of monopoly pricing of networks. Platforms use insulating tariffs to avoid coordination failure, implementing any desired allocation. Profit maximization distorts in the spirit of A. Michael Spence (1975) by internalizing only network externalities to marginal users. Thus the empirical and prescriptive content of the popular Jean-Charles Rochet and Jean Tirole (2006) model of two-sided markets turns on the nature of user heterogeneity. I propose a more plausible, yet equally tractable, model of heterogeneity in which users differ in their income or scale. My approach provides a general measure of market power and helps predict the effects of price regulation and mergers.14. Title: Consumption Taxes and Redistribution.Authors: Correia, Isabel.Abstract: This study considers replacing the current US tax system with only a flat tax consumption tax, showing, in contrast to the literature, that such a reform leads to a decline in inequality and increase in welfare for the welfare-poor. The results are obtained from a simple model that identifies the main channels through which the reform affects the economy. It is shown also that these novel results depend on the distribution of wealth and earnings, and that they hold for the relevant empirical distributions.15. Title: When Does Communication Improve Coordination?Authors: Ellingsen, Tore; Östling, Robert.Abstract: We study costless pre-play communication of intentions among inexperienced players. Using the level-k model of strategic thinking to describe players' beliefs, we fully characterize the effects of preplay communication in symmetric 2×2 games. One-way communication weakly increases coordination on Nash equilibrium outcomes, althoug h average payoffs sometimes decrease. Two-way communication further improves payoffs in some games but is detrimental in others. Moving beyond the class of symmetric 2 × 2 games, we find that communication facilitates coordination in common interest games with positive spillovers and strategic complementarities, but there are also games in which any type of communication hampers coordination.16. Title: Kinship, Incentives, and Evolution.Authors: Alger, Ingela; Weibull, Jörgen W.Abstract: We analyze how family ties affect incentives, with focus on the strategic interaction between two mutually altruistic siblings. The siblings exert effort to produce output under uncertainty, and they may transfer output to each other. With equally altruistic siblings, their equilibrium effort is nonmonotonic in the common degree of altruism, and it depends on the harshness of the environment. We define a notion of local evolutionary stability of degrees of sibling altruism and show that this degree is lower than the kinship-relatedness factor. Numerical simulations show how family ties vary with the environment, and how this affects economic outcomes.17. Title: Elections, Capital Flows, and Politico-Economic Equilibria.Authors: Chang, Roberto.Abstract: We study an open economy where a pro-labor and a pro-business candidate compete in an election. The winner chooses taxes, which affect investment returns. Electoral outcomes depend on the size of the foreign debt, but the debt itself reflects expectations about the election. The resulting interaction is novel and has several implications. Elections are associated with increased volatility. Politico-economic crises can occur. Inefficiencies vanish if the candidates commit to an appropriate tax policy, but such commitments have predictable effects on the election. Empirical evidence supporting the theory is discussed.18. Title: Preemption Games: Theory and Experiment.Authors: Anderson, Steven T; Friedman, Daniel; Oprea, Ryan.Abstract: Several impatient investors with private costs C_i face an indivisible irreversible investment opportunity whose value V is governed by geometric Brownian motion. The first investor i to seize the opportunity receives the entire payoff, V-C_i. We characterize the symmetric Bayesian Nash equilibrium for this game. A laboratory experiment confirms the model's main qualitative predictions: competition drastically lowers the value at which investment occurs; usually the lowest-cost investor preempts the other investors; observed investment patterns in competition (unlike monopoly) are quite insensitive to changes in the Brownian parameters. Support is more qualified for the prediction that markups decline with cost.19. Title: Watta Satta: Bride Exchange and Women's Welfare in Rural Pakistan. Authors: Jacoby, Hanan G; Mansuri, Ghazala.Abstract: Can marriage institutions limit marital inefficiency? We study the pervasive custom of watta satta in rural Pakistan, a bride exchange between families coupled with a mutual threat of retaliation. Watta satta can be seen as a mechanism for coordinating the actions of two sets of parents, each wishing to restrain their son-in-law. We find that marital discord, as measured by estrangement, domestic abuse, and wife's mental health, is indeed significantly lower in watta satta versus 'conventional' marriage, but only after accounting for selection bias. These benefits cannot be explained by endogamy, a marriage pattern associated with watta satta.20. Title: Self-Interest through Delegation: An Additional Rationale for thePrincipal-Agent Relationship.Authors: Hamman, John R; Loewenstein, George; Weber, Roberto A.Abstract: Principal-agent relationships are typically assumed to be motivated by efficiency gains from comparative advantage. However, principals may also delegate tasks to avoid taking direct responsibility for selfish or unethical behavior. We report three laboratory experiments in which principals repeatedly either decide how much money to share with a recipient or hire agents to make sharing decisions on their behalf. Across several experimental treatments, recipients receive significantly less, and in many cases close to nothing, when allocation decisions are made by agents.21. Title: The Gender Wage Gap and Domestic Violence.Authors: Aizer, Anna.Abstract: Three quarters of all violence against women is perpetrated by domestic partners. This study exploits exogenous changes in the demand for labor in female-dominated industries to estimate the impact of the male-female wage gap on domestic violence. Decreases in the wage gap reduce violence against women, consistent with a household bargaining model. These findings shed new light on the health production process as well as observed income gradients in health and suggest that in addition to addressing concerns of equity and efficiency, pay parity can also improve the health of American women via reductions in violence.22. Title: Constrained School Choice: An Experimental Study.Authors: Calsamiglia, Caterina; Haeringer, Guillaume; Klijn, Flip.Abstract: The literature on school choice assumes that families can submit a preference list over all the schools they want to be assigned to. However, in many real-life instances families are only allowed to submit a list containing a limited number of schools. Subjects' incentives are drastically affected, as more individuals manipulate their preferences. Including a safety school in the constrained list explains most manipulations. Competitiveness across schools plays an important role. Constraining choices increases segregation and affects the stability and efficiency of the final allocation. Remarkably, the constraint reduces significantly the proportion of subjects playing a dominated strategy23. Title: Financing Development: The Role of Information Costs.Authors: Greenwood, Jeremy; Sanchez, Juan M; Wang, Cheng.Abstract: To address how technological progress in financial intermediation affects the economy, a costly-state verification framework is embedded into the standard growth model. The framework has two novel ingredients. First, firms differ in the risk/return combinations that they offer. Second, the efficacy of monitoring depends upon the amount of resources invested in the activity. A financial theory of firm size results. Undeserving firms are over-financed, deserving ones under-funded. Technological advance in intermediation leads to more capital accumulation and a redirection of funds away from unproductive firms toward productive ones. With continued progress, the economy approaches its first-best equilibrium.24. Title: Efficiency Gains from T eam-Based Coordination-Large-Scale Experimental Evidence.Authors: Feri, Francesco; Irlenbusch, Bernd; Sutter, Matthias.Abstract: The need for efficient coordination is ubiquitous in organizations and industries. The literature on the determinants of efficient coordination has focused on individual decision making so far. In reality, however, teams often have to coordinate with other teams. We present a series of coordination experiments with a total of 1,101 participants. We find that teams of three subjects each coordinate much more efficiently than individuals. This finding adds one important cornerstone to the recent literature on the conditions for successful coordination. We explain the differences between individuals and teams using the experience weighted attraction learning model.25. Title: Social Identity and Preferences.Authors: Benjamin, Daniel J; Choi, James J; Strickland, A. Joshua.Abstract: Social identities prescribe behaviors for people. We identify the marginal behavioral effect of these norms on discount rates and risk aversion by measuring how laboratory subjects' choices change when an aspect of social identity is made salient. When we make ethnic identity salient to Asian-American subjects, they make more patient choices. When we make racial identity salient to black subjects, non-immigrant blacks (but not immigrant blacks) make more patient choices. Making gender identity salient has no effect on intertemporal or risk choices.26. Title: Bidding with Securities: Comment.Authors: Che, Yeon-Koo; Kim, Jinwoo.Abstract: Peter DeMarzo, Ilan Kremer, and Andrzej Skrzypacz (2005) analyzed auctions in which bidders compete in securities. They show that a steeper security leads to a higher expected revenue for the seller, and also use this to establish the revenue ranking between standard auctions. In this comment, we obtain the opposite results to DKS's by assuming that a higher return requires a higher investment cost. Given this latter assumption, steeper securities are more vulnerable to adverse selection, and may yield lower expected revenue, than flatter ones.。

美国经济英语作文【篇一：英语小短文经济篇】英语小短文1经济篇背景导读美国商务部2009 年4 月29 日表示，美国第一季度gdp 季度调整后年降6.1%，经济学家预期值为下降4.6%。

美国第一季度经济下滑几乎没有改善，企业削减开支和库存，表明衰退并未如预期那样放缓。

indications that unemployment continues to rise is grim news for leaders heading to the g-20 summit（20 国集团峰会）in the united states next week. the paris-based organization for economic cooperation and development（经济合作与发展组织）reports unemployment reached its highest level among industrialized nations of 8.5 percent in july. oecd unemployment division chief stephan scarpetta says the number of jobless among the oecd’s 30 member countries is expected to climb even higher next year, to nearly 10 percent. that translates into 57 million people out of work. the united states, spain and ireland are among those countries with the fastest rising unemployment. allthree were affected by the collapse of high housing prices. the damage spread to other sectors of the economy. scarpettasays young people are among the hardest hit. in spain, for example, more than one in three young workers are unemployed.背景导读经济合作与发展组织2009 年9 月份报告说，工业化国家的失业率仍在增加，而且有可能在明年达到近10%的历史最高水平，尽管不断有报道说，很多工业化国家正在走出几十年来最严重的经济危机。

英语国家概况》期末复习题（含答案）（第I卷客观题共45 分）I.选择题（共30 分; 每题 1 分）U.K.1. The importance of the British monarchy can be seen in its effect on ___ . DA. passing the billsB. advising the governmentC. political partiesD. public attitude2. The policies of the Conservative Party in Great Britain are characterized by pragmatism and .DA. government interventionB. nationalization of enterprisesC. social reformD. a belief in individualism3. Oxford University is the oldest university in the English-speaking world.4. Cabinet members are chosen by __ in Britain. BA. the monarchB. the Prime MinisterC. the ArchbishopD. the Lord Chancellor5. English belongs to the Germanic group of Indo-European family of languages.6. The Severn River is the longest river in Britain.7. The following Christmas traditions are particularly British except ___ . AA. Trooping the ColorB. Queen 's Christmas messageC. Boxing DayD. Christmas pantomime8. Among Britain q'uasl ity press, the following newspapers are regarded as the “BigT hree withthe exception of TheObserver.9. In 2012, Britain had a population of about 63 million.10. The two main islands of the British Isles are Great Britain and Ireland.11. British Prime Minister Margaret Thatcher once said that, “ Britain and the USnittaetde s willstand side by side ”.12. The Labor Party affected the British society greatly in that it __ . AA. set up the National Health ServicesB. improved public transportationC. abolished the old tax systemD. enhanced the economic development13. Margaret Thatcher go'v s ernment introduced the biggest changes in British economic policysince World War II.14. Charles Dickens is a representative of English Critical Realism at the turn of the 19 th century.15. The three principle features of the climate of Britain are the following EXCEPT ___ . CA. the frequent fog in winterB. the large number of rainy daysC. extreme coldness even in summerD. changeability all the year round16. Samuel Johnson 'dsic tionary was influential in establishing a standard form of spelling inEnglish.17. The introduction of Christianity to Britain added the first element of Latin and Greek wordsto English.18. _ was not among the four self-governing dominions in the British Empire. CA. AustraliaB. CanadaC. IndiaD. the Union of South Africa19. Of the following sectors in Britain, service industry has experienced spectacular growthC. RepresentativeD. Senatorsince the end of World War II.20. Cambridge has more Nobel Prize winners than any other institution in Britain. 21. Writers of _____ literature are more concerned with imagination and feeling than withreason and intellect. C A. Renaissance B. Neo-ClassicalC. RomanticD. Victorian22. The end of the Wars of the Roses led to the rule of ___ . CA. the House of ValoisB. the House of YorkC. the House of TudorD. the House of Lancaster23. Tourists from all over the world come to enjoy the beauty of Scottish scenery, to drink Scotchwhisky and to see Scotsmen wearing kilts .24. The ___ marked the establishment of feudalism in England. C A. Viking invasion B. signing of the Magna Carta C. Norman ConquestD. adoption of common law25. Commonwealth Day is an annual event celebrated on the second Monday in March each year. 26. Such big cities as Glasgow, Manchester, Sheffield and Newcastle are famous for the __ .DA. oil industryB. car industryC. shipping companiesD. coalfields27. During the 15 th and 16 th centuries an intellectual movement known as ____ swept Europe.___ was the greatest playwright of the world produced in this period in England. D A. Romance, Geoffrey Chaucer B. Christianity, George Bernard Shaw C. Italian literary influence, SonnetD. Renaissance, Shakespeare28. Aestheticism is the belief that artists have no obligation other than to strive for beauty--- “art forart 's sake ”. The most important representative of Aestheticism is _________ . B A. Thomas Hardy B. Oscar Wilde D. William Butler Yeats29. The direct cause for the Religious Reformation was King Henry VIII 'effso rt todivorce his wife .U.S.31. The U.S. lies in central North America, with Canada to the north, Mexico to the south, the Atlanticto its east and the Pacific to its west .32. “No taxation without representation w ”as the rallying slogan before the War of Independence . 33. The Constitution of the United States tries to give each branch enough power to balance theothers .34. The following except the right to get into people 's house a b re y g p u o a li r c a e nteed inthe Billof Rights.35. Of the following persons, the ____ can NOT make legislative proposal in the U.S. A A. Secretary of StateC. Virginia Woolf30. ___ is viewed as Romantic poetry A. “I Wondered Lonely as a Cloud C. “ Preface to Lyrical Ballads 's “ Declaration ofIndepCendence ” B. Don Juan D. Prometheus UnboundB. President36. Of the following subjects, politics and business education are NOT offered to elementary school students inthe U.S.37. Abraham Lincoln issued Emancipation Proclamation to grant freedom to all the slaves in the U.S.38. The terms for a Senator and a Representative in the U.S. are six and two years respectively.39. The National Day of the United States falls on July 4th.40. Washington Irving is regarded as “the father of American literature ”.41. Higher education in the United States began with the founding of Harvard University.42. The first shots of the American War of Independence were fired in Lexington.43. The symbol of the Democratic Party is a/an donkey, and a/an elephant represents the Republican Party.44. The eastern part of the United States consists of the highlands formed by the AppalachianRange and the western part consists of high plateaus and the Rocky Mountains.45. Alaska is the largest state in the whole United States and Texas is the largest state in the part of the U.S. thatis on the mainland.46. In the United States, the Bill of Rights guarantees citizens of the United States specific individual rights andfreedoms.47. The modern American economy progressed from ___ to ___ , and eventually, to ___ . BA. colonial economy, handcraft economy, industrial economyB. colonial economy, farming economy, industrial economyC. farming economy, handcraft economy, industrial economyD. handcraft economy, farming economy, industrial economy48. The Supreme Court in the United States is composed of nine justices.49. The characteristic of dominant American culture is ___ . BA. English-speaking, northern European, Protestant and upper-classB. English-speaking, western European, Protestant and middle-classC. English-speaking, northern European, Roman Catholic and middle-classD. English-speaking, western European, Roman Catholic and upper-class50. The following inventions took place during the “ secondi ndustrial revolution e”xc ept refrigerator.51. Of the following, __ is NOT a characteristic of Mark Twain 'Cs works.A. a realistic viewB. a sense of humorC. an idealistic viewD. colloquial speech52. The first successful English colony in North America was founded at Jamestown in Virginia.53. America produces a major p ortion of the world 's products in the following fields e o x il c. ept54. F. Scott Fitzgerald 's finest novel is _____ , and its theme is about D _ .A. Tales of the Jazz Age, the loss of oneselfB. TenderistheNight , loveC. TheBeautifulandtheDamned , the evil of human natureD. TheGreatGatsby, the American Dream55. Of the following books, ___ is NOT written by Ernest Hemingway. CA. A Farewell to ArmsB. ForWhomtheBellTollsC. TheSoundandtheFuryD. The Sun Also Rises56. The policy of the United States was __ at the beginning of the two world wars. CA. appeasementB. full involvementC. neutralityD. partial involvement 57. The first people on the American continent came from ___ as early as ___ thousand yearsago. C A. Asia, 2 B. Europe, 2 C. Asia, 20 D. Europe, 2058. The first National Bank of the United States was established with the urge of ___ . A A. Alexander Hamilton B. Andrew Jackson C. George Washington D. Thomas Jefferson59. Of the following universities, Massachusetts Institute of Technology has NOT cultivated any American Presidents yet. 60. Of the following writers, ___ is NOT a Nobel Prize winner. A A. Alice Walker B. Ernest Hemingway C. Eugene O ' Neil D. William Faulkner 61. The following except ___ are all powers of the U.S. President. B A. appointing federal judges when vacancies occur B. making lawsC. issuing executive ordersD. vetoing any bills passed by Congress62. Since 1959, the United States has been a country of 50 states.63. Chicago is the third largest city in the United States. It serves as the main connection between the easterncoast cities and the West.64. The distribution of the population in the U.S. is rather uneven. The most densely populatedAB. southeastern D. northwesternto tackle the economic depression in the 1930s B. new dealD. “ Great Society ” policyAustralia66. As an ideal place for investments, Australia' s foreign capital mainl J y a c p o a m n e a s n f d ro mthe United States .th67. January 26th, 1788 is the date celebrated as Australia Day. 68. _ is/are mainly responsible for education in Australia. B69. The first time that Australia developed a foreign policy independent of Britain was ___ . D A. after the establishment of the Commonwealth of Australia B. after World War IIC. during the Great Depression of the 1930sD. during the Pacific War in World War II70. Australia ' s economy depends largely on ______ . C A. agriculture B. manufacturing C. foreign tradeD. tourism71. The Howard government 'fosr eign policy was based on relations with four key countries, namely in Australia.BA. the U.S., Japan, Britain, ChinaB. the U.S., Japan, China, IndonesiaC. the U.S., Japan, Britain, IndonesiaD. the U.S., Britain, China, Indonesia 72. Australian system of teaching and school discipline put emphasis on the following exceptregion is the ___ part of the country. A. northeastern C. southwestern 65. President Roosevelt, in his attemptintroduced his famous ___ . B A. neutrality policy C. new monetarist policiesA. Federal government C. Territory assembliesB. State governments D. Municipal government__ . CA. learning by discovery and questioningB. self-disciplineC. outward disciplineD. encouraging student ' s interest in learning73. Canberra is Australia 's capital.74. In 2013, the population of Australia was about ___ million. AA. 22.9B. 33.9C. 40.9D. 5075. _ is renowned for its unique plant and animal species. It is estimated that there arearound 20,000 to 25,000 different plants native to the land. AA. AustraliaB. CanadaC. The United KingdomD. The United States76. Most anthropologists believe that the Aborigines in Australia migrated from ________ at least50,000 years ago. CA. east AsiaB. south AsiaC. southeast AsiaD. North Asia77. The Commonwealth of Australia was established in ___ . DA. 1847B. 1885C. 1900D. 190178. Australia is a leading supplier of ___ to international markets. DA. agricultural productsB. hi-tech productsC. industrial productsD. mineral resourcesCanada79. The Governor General holds the highest position in the Canadian parliamentary system.80. The ___ is the largest political party in Canada. AA. Liberal PartyB. Conservative PartyC. Canadian Labor CongressD. New Democratic Party Canada is the second largest country in the world.81. Toronto is the largest city in Canada and Ottawa is the capital city.82. _ recognized Quebec as a “ distinct soAciety ” .A. The Meech Lake AccordB. The Quebec ActC. The Constitutional ActD. The British North America Act83. The influence of __ has declined gradually in Parliament in today D ' s Canada.A. the Conservative PartyB. the Canadian Labor CongressC. the Cooperative Commonwealth FederationD. the New Democratic Party84. Kim Campbell was Canada ' s first woman Prime Minister.85. In Canada, the largest religious denomination is the Roman Catholic Church.86. If applicants meet the basic requirements for an immigrant to Canada, they need to do the following except .AA. applying for citizenshipB. taking a medical examC. paying an application feeD. paying a landing fee87. The Great Lakes on the border between Canada and the U.S. are the largest group of freshwater lakes in theworld.88. The name “ Canada ” is said to have derived from the Huron word“ Kanata ”, meaningC A. ocean B. north C. villageD. ice89. In 1497, the voyage led by an Italian captain discovered the eastern shores of Canada, which was claimed as Newfoundland .90. In the early ____ , both Britain and France founded permanent settlements in Canada. C A. 1400sC. 1600s91. After the famous Seven Yearsunder ____ control. B A. Britain, FrenchC. Spain, IndianB. 1500sD. 1700s' War, ____ lost all of its colonies, and the whole Canada cameB. France, British D. India, Spanish92. With the passage of the Statute of Westminster in 1931, Canada was recognized as an equalpartner of Britain.II. 读图题 （共 5分; 每题 1 分）III. 判断题 （共 10 分; 每题 1 分） U.K.1.The British history before 55 BC is basically undocumented. T2. The majority of the people in Britain are descendants of the Anglo-Saxons. T3. London is one of the three principal financial centers of the world. T4. People in different parts of Britain like to use the name England to refer to their country. F5. The Celtic people are the earliest known inhabitants of Britain. T6. In an effort to make a compromise between different religious factions, Queen Elizabeth I actually defended thefruit of the Religious Reformation. T7. The island of Great Britain is geographically divided into three parts: England, Scotland and Wales. T 8. The British monarchy has never been interrupted throughout the history. F 9.In reality, the British King or Queen is the source of all government powers. F10. Limited resources and high unemployment rate were persistent problems that prevented rapid economicdevelopment in Britain.F11. Hamlet depicts the hero ' s struggle with two opposing forces: moral integrity and the need toavenge his father ' s muTrder.12. The British economy experienced a relative decline during the postwar period. T13. Alexander Pope was a great English poet who also translated Homer Iliad . T ' s14. Blair made the Bank of England independent in order to separate politics and economic policy. T15. William Wordsworth and Samuel Taylor Coleridge brought the Romantic Movement to its height in Britishliterature. FU.S.16. Thanksgiving Day falls on the fourth Tuesday in November. F17. San Francisco is the second largest city after New York and the world famous Hollywood and Disneyland arelocated there. F18. Walt Whitman introduced great innovations to American literature, and he devised a poetic style, free verse. T19. The United States is the fifth most populous nation in the world, ranking behind China, India, Brazil and SouthAfrica. F20. During Clinton 'tesrm , the economy developed steadily, resulting in a lower rate of unemployment. T21. According to the American administration, Saddam Hussein and Osama bin Laden were responsible for theterrorist event on September 11, 2001. F22. The world economy has little to do with the growth and decline of the American foreign trade. F23. In the United States, certain presidential appointments must be approved by Congress. T24. New York is the commercial and financial center of the United States, and it is also one of the three principaleconomic centers in the world. T25. The Civil War not only put an end to slavery, but also decided that America was a single, indivisible nation. T26. The U.S. congress is the legislative branch of the federal government and it consists of two houses: the Houseof Commons and the House of Lords. F27. The eastern highlands formed by the Appalachians hold one third of the U.S. continental territory. F28. President Roosevelt ' s New Deal had little effect in dealinigth w the economic crisis in theearly 1930s. F29. Jonathan Edwards and Benjamin Franklin are two sources of American literary spirit. T30. The Democratic Party of the U.S. is conservative in terms of its ideology. F Australia31. The Australian Constitution can be changed either by government ' s will or by referendum.F32. Australia Day is on January 26th. T33. Since Australia has a vast cultivable area, it has become the world 'lesa ding exporter of agricultural products.F34. In World War I, all members of the Australian armed forces who served overseas were volunteers. T35. For Australian citizens over the age of 16, it is compulsory to vote at election time. FCanada36. Canada is the third largest country in the world in terms of territory. F37. Multilingualism and multiculturalism are characteristics of Canadian culture. T38. Laval University is the largest institution in Canada, while University of Toronto is the oldest one. F39. Quebec separated from Canada and established a French-speaking nation in the 1960s. F40. The Canadian government is responsible to the King or Queen of Britain. F1. D2. B3. A4. C5. E6. FGroup Three:British Literary PeriodsA. The Modern PeriodB. The Victorian PeriodC. The RenaissanceD. The Middle English PeriodE. The Romantic PeriodF. The Neo-Classical Period1. D2. C3. F4. E5. B6. A )II. 配对题（共20分; 每题 2 分）试卷上会出 2 组，每组 5 题。