专业英语阅读(国贸专业)课程作业(A)

专业英语阅读（国贸专业）课程作业（A）

浙江外国语学院国际工商管理学院教师刘钢

I. Translate the following economic terms.（2×10=20 points）

（i）From English into Chinese：

1. credit crunch 信贷危机

2. liquidity 流动性

3. junk bond 垃圾债券

4. laissez-faire 自由放任

5. convertible currency 可兑换货币

（ii）From Chinese into English：

6. 外国直接投资 foreigh direct investment

7. 资产负债表balance sheet

8. 微型萧条mini-depression

9. 要素禀赋fact endowment

10. 自愿出口限制VERs(Voluntary Export Restraints)

Ⅱ. Fill in each of the following 10 blanks with an appropriate word（Choose 10 words from the

International trade is often explained by the theory of comparative advantage, also called the comparative cost theory. This (1)_ theory was developed by David Ricardo, John Stuart Mill, and (2) other _ economists in the nineteenth century. The theory (3)_ emphasizes that different countries or regions have different (4) absolute _ possibilities. A tropical climate is better suited for growing bananas (5) than _ a cold one. A country like Norway could produce bananas in hot houses, (6) but _ it is cheaper for Norway to (7)import_ bananas than to produce them. Thus, climate establishes a trade pattern between a northern and a southern country. In other cases the availability of natural resources may be a trade factor.

The theory of comparative cost points out that trade between countries can be (8) profitable _ for all, even if one of the countries can produce every commodity more cheaply. As long as there are minor, relative differences in the (9)efficiency_ of producing a commodity, even the poor country can (10)have_ a comparative advantage in producing it.

III. Mark the following 20 statements T (True ) or F (False ) according to the information provided in the given text.（2×20=40 points）

The development of modem nationalism during the 16th century shifted attention to the problem of increasing

the wealth and power of the various nation-states. The economic policy of the leaders of that time, known as mercantilism, sought to encourage national self-sufficiency. The heyday (兴盛期) of the mercantilist school (学派) in England and Western Europe occurred during the 16th through the early 18th centuries.

Mercantilists valued gold and silver as an index of national power. Without the gold and silver mines in the New World from which Spain drew its riches, a nation could accumulate these precious metals only by selling more merchandise to foreigners than it bought from them. This favorable balance of trade necessarily compelled foreigners to cover their deficits by shipping gold and silver.

Mercantilists took for granted that their own country was either at war with its neighbors, recovering from a recent conflict, or getting ready to plunge into a new war. With gold and silver, a ruler could hire mercenaries (唯利是图的人) to fight, a practice followed by King George III of the United Kingdom of Great Britain when he used Hessian troops during the American Revolution. As needed, the monarch (君主) could also buy weapons, uniforms, and food to supply the soldiers and sailors.