金融英语_刘文国第二版课后练习Exercises 03

Answers for Chapter Two
I.Answer the following questions in English:
1. All sorts of things have been used as money at different times in different places, such as amber, beads, cowries, drums, eggs, feathers, gongs, hoes, ivory, jade, kettles, leather, mats, nails, oxen, pigs, quartz, rice, salt, thimbles, vodka, wampum and yarns. They are widely used for making payments and accounting for debts and credits.
2. Money functions as a medium of exchange, a standard of value and a store of wealth.
3. In the system of barter, one exchanges goods and services for other goods and services rather than using money. The main disadvantages of the barter system are: double coincidence of wants to be found (Both buyer and seller need each other's goods.), indivisible quantities; rates of exchange to be agreed upon.
4. Two types of money are commodity money and fiat money.
5. A modern bank is an institution that deals in money and its substitutes and provides other financial services.
6. Banks create money in the economy by making loans. When a bank gets
a deposit of $100, assuming a reserve requirement of 10 percent, the bank can then lend out $90. That $90 goes back into the economy, purchasing goods or services, and usually ends up deposited in another bank. That bank can then lend out $81 of that $90 deposit, and that $81 goes into the economy to purchase goods or services and ultimately is deposited into another bank that proceeds to lend out a percentage of it.
7．If you go to the bank and demand your money, you'll get it.
8. If everyone goes to the bank at the same time and demands their money
(a run on the bank), there might be problem.
9. The interest rate a bank charges its borrowers depends on both the number of people who want to borrow and the amount of money the bank has available to lend.
10. Banks make money on the interest they charge on loans because that interest is higher than the interest they pay on depositors' accounts.
II.Fill in each blank with a word or expression from the following box:
1.in exchange for, save
2.Separating, involved, plays
3.a medium of exchange
4.means
5.serves as
6.medium
Ⅲ. Translate the following sentences into English:
1．There are two forms of money: commodity money and fiat money. The first money is commodity money.
2．Money serves three major functions: medium of exchange, standard of value and store of wealth.
3．The traditional businesses of banks are accepting deposits and extending loans. The main profits of banks come from the interest differences, fees income and investment profits.
4．The interest rate is the price of capital and it is influenced by the supply and demand in the capital market.
5．The funds rate is the interest rate that banks charge each other for short-term loans to meet their legal reserve requirements. 6．Banks create money in the economy by making loans. The amount of money that banks can lend is directly affected by the reserve requirement set by the Federal Reserve.
Ⅳ.Translate the following passage into Chinese:
1.到2004年9月美国商业银行的数量为7660家，这一点不同与其他国家。

这
个数量随着银行合并而稳步减少，但是仍然多于英国银行数量的5倍，英国是世界上拥有银行数量第二的国家。

2.美国银行的大部分资产集中在大银行。

目前最大的十家银行拥有将近一半的
银行资产总量。

3.国家最大的银行通常称为货币市场银行或货币中心银行。

在传统市场的基础
上，作为货币中心银行在今天意味着在全球拥有分支机构并且高度参与为零售银行和大公司等客户提供服务的批发银行业务。

花旗银行，JP摩根大通银行以及美洲银行等都属于这种类型。

4.货币是任何可广泛用于支付和偿还债务和贷款的事物。

5.储蓄银行，储蓄和信贷协会，合作银行和信贷协会等被归为储蓄机构。

每一
种原先都集中于满足人们的特殊需求，这些需求商业银行未能提供。

货币在全球经济中的未来将使交易更加快捷和不留痕迹。

6.。