Chapter 2 essay(题目+答案)A level AP IB 经济学 Economics 历年Essay真题完美打印

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BEC中级第二辑全篇阅读真题详解

剑桥BEC真题集第二辑T1P1这篇文章讲的是培训（coaching）的作用。

培训对一个公司的发展和员工的成长都是至关重要的。

文章的内容比较泛，但是题目的答案比较明显。

第一题，教练和员工之间的接触不能解决工作中的所有困难。

答案是C段的这么一句：In theory, the coaching relationship should provide answers to every problem, but in practice it falls short of this.理论上，培训可以提供所有问题的答案。

但是实践中达不到这样。

Fall short of是关键词。

第二题，讨论某些情况如果再度出现的话怎么样可以处理的更好。

答案是A段的这么一句：analysing how they were managed and how they might be dealt with more effectively on subsequent occasions.分析应该如何进行处理并且在接下来的情况下怎样可以处理的更有效。

这里的dealt with more effectively对应于题干中的better handled，on subsequent occasions.也就是occur again。

第三题，教练鼓励员工将所学应用到日常的工作中。

答案是B段的这么一句：helps individuals to use formally learnt knowledge in day-to-day work and management situations.帮助个人将学到的正式知识用在日常工作和管理情况下。

这里的day-to-day work and management situations就是题干中的routine work situations，what has been taught 也就是formally learnt knowledge。

写作教程2课后答案（上海外国语教育出版社）

写作教程2课后答案（上海外国语教育出版社）写作教程 2 课后题答案提示：页码有部分错误，但答案内容正确。

P2 . PART1Advantages : It is very convenient . You can make a call whenever and wherever you want to.It is especially helpful in an emergency .It saves time .You don't have to search for or await the turn for the public phone.You can always be reached when you are neededby others.In an information age ,it can help you to get the information you want in the quickest way.It may help you to grasp any chance to succeed. You canplay games and surf the net through thephone........Disadvantages : It is quite expensiveIts radiation is harmful to healthAnswering calls in public places such as on a bus is embarrassingMaking or answering calls while driving isdangerousYou can always be reached by your parents oryour bossIt may ring at the moment when you least wantit toYou may receive calls fromstrangers or advertising companies and have to pay forthem ..........P3. PART2have become increasingly violentis more and more important for young people is thekindest neighbour I have ever known has aprofound effect on our healthP4. 2.too specificBritish English is different from American English inspelling3.This is not a sentence, but a fragment Differentcountries have different customs4.too general,too emotionalThe local food is tasteless and greasyP7. Approach 1: For one thing, they should balance science and non-science courses so that they do not have too many time-consuming labs.Approach 2:They should also try to get a mixture between subjects they find fairly easy and those that are difficult for them.Example 1: For instance,the student who dose well in history but expects to have a terrible time with calculus might plan on taking both in the same semester to balance the work load.Example 2: The student who dose not plan carefully and takes five tough courses the first term may wind up on scholastic probation.P11. 4 . Paragraph 1:All invention are either basic inventions or improvement on earlier inventions.Paragraph 2:There was a serious accident in thechemistry lab yesterday.Paragraph 3: Nutritional deficiency is a major problemof the elderly.5. Paragraph 1 : T opic sentence: people .....to each other. 和convenience. 第一句And无关句：Manynowadays,....moreParagraph 2: T S : 第一句无关句：I didn't /doc/b810843207.html,st night 和 I heard that .... own children.排序：574169832（1）First of all . (2) secondly (3)By and by (4) In addition(5)In shortP18 Paragraph B : Jack should not have taken the gymnastics course.he fell off the uneven bars and got a concussion.he sprained his ankle,after a bad landing off the balance beam.he broken the support beam in the basement of his parent's home,showing them his skills.he broke his thumb when he caught it on the bar the pommel horse.he fails the final exam in his gymnastics course.he failed to graduate due to the lack of twohours of physical education creditP19 T S: Some historians mark the course of the American Revolutionary War in three major periods.1.During the first phase of the conflict ,New English was the battleground,1)The Minutemen and the Redcoats fired the opening shots of the war at Lexington at dawn of April 19,17752) Shortly afterwards ,the New England colonists laid siege toBoston .the location of the British headquarters.2.In the second phase of the war ,which began after the signing of the Declaration ,both the British and the American made important military gains.1)The British soldiers captured New York in the fall of 1776,and a year later they occupied Philadelphia.2)Meanwhile the Americans were able to seize New Jersey3.The fighting moved to the west and south during the last phase.1)In 1778 and 1779 several battles occurred in Kentucky and Tennessee.2)Then two years later ,the final battle of the war wasfought at Yorktown ,Virginia.P22 . 4: 排序： 4 10 5 12 3 7 15 9 14 2 11 8 13 6 1T S ： My family spent two fun-filled days at Disney World last year.P23. 5.(1)Then (2) morning (3)afternoon (4)Then (5)After that (6)when (7)already (8)afterP33. 3. 排序：3614752 Relationship : organization of the paragraph represents Primarily, movementtheingeographical space.P34 5. (1)into (2) crosses (3) In the center of (4) Outside (5)inside (6) On the front (7)over (8)down (9)lined with (10) At the rearP46 4. (1)with (2)while (3)slowly (4)Gradually (5)with (6)By this time (7)Suddenly (8)final (9) ending (10) applause5.Prepare and lay out food;make the special lanterns Keepdancing and singing overnightThrow the food and lanterns into a river or seaWatch the lanterns drifting wayP52 . T S : Working as a cook at the Venture Inn is the best job i have ever had.Reasons: 1. I have a steady fort-hour workweek ,along with a chance for overtime if i want it.2.I can eat whatever i like ,and i get a chance to take steak and sometimes lobster home to my wife.3.I don't have any big hassle with my boss;if i have to report late or skip a day now and then,all she asks is that i call her in advance4. They pay is very good ,averaging close to $200 the weeks that i work overtime5. The job is seasonal.P57. 3. T S : Working in an apple plant was the worst job i ever had.Examples :1: First of all,the work was physically hardSpecific details:1)For ten hours a night ,i took cartons that rolled down a metal track and stacked them onto wooden skids in a tractor trailer.2)Each carton contained twelve 32-ounce cans or bottles of apple juice,and they were heavy2:The second bad feature of the job was the paySpecific details:I was getting the minimum wage at thattime ,$1.25an hour,plus a minimum of a nickel extra for working the night shift.3:The worst feature of the apple plant job was the working conditions.1)During work we were limited to two10-minute breaks and an unpaid half-hour for lunch2)The steel floors of the trucks were like ice ;the quickly penetrating cold made my feet feel like stone.Concluding S : I felt humiliated by the poverty thatforced me to do such a bitter job.P58 4. 排序： 36182475Pattern : It follows Pattern 1 and uses many examples to illustrate the controlling idea.5.(1) For example (2)Furthermore (3)In still another instance(4)Even (5)his (6)these (7)contemporaryP59 7. 1) I've never seen a girl as lazy as Arena2)English teachers are applying different means to teach theEnglish language3)Americans have been decreasing their working hours sinceearly 1900s4)My father has been a generous man to his childrenP70 5. 排序：213546explain a Spanish word which hasno exact English equivalentcourageous behaviour earthy sexualityP76 Cause: 1. Over a million cars are abandoned on the streets3.Both city governments or governmental agencies have financial headachesEffect: lack of parking in citiesP78 Cause: the terrorist strikesEffects: 1. The Americans feel very anxious and panicky3.The public would wind up ignoring the one warning that really matters.P82 2) Cause : (1) got drunk at the party(2)had taken the drug of Accutane(3)adolescent depressionEffect : Bart Jr.'s suicide4.排序：241365 Pattern of cause and effect: single effect and multiple causesP88 sample 1 subject: the time most students spend studying for a testTopic sentence: The time most students spend studying for a test can be divided into three distinct phases.Division ；1）Phase One runs from the day the test is announced to approximately forty-eight hours before the exam is passed out.2)Phase two is entered two days prior to the test.3)Phase three ,the final phase ,is entered twelve hours before “ZeroHour . ”Sample 2 : subject: students in our schoolTopic sentence: students in our school fall into three groups according to their different intentions of taking part in sports. Division :1) students who go to the playground when they feel tired after study.2)real sports lovers who even put aside their studies for a game. P93 3. 1) T S: University students' entertainment can be divided into three categories according to where it takes placeDivision: a) entertainment at homeb)entertainment on campusc)entertainment elsewhere2)T S: The average young married woman in today's society has her life divided into three different roles.Division: a)the role of wifeb)the role of motherc)the role of self3)T S : Neighbours fall into three categories according to their different attitudes towards youDivision:a)those who are friendlyb)those who are indifferentc)those who hate youP94 5: 排序： 7 3 10 9 1 5 8 4 2 11 6 Subject: Christmas gifts T S : Christmas gifts can be divided into threegroups ,according to their after-Christmas fateDivision: a)those that are welcomed and put into usevery soonb)those that are halfway between being hated and lovedc)those that you banish as soon as possibleConcluding S : By New Year's Day, you have eitherused ,stored or disposed of each of your Christmas gifts6.(1)types (2)Though (3) Finally (4)however(5)Even though (6)Before (7)third (8)If(9)Then (10)theseP106 4.排序： 53624871Pattern of comparison and contrast: subject by subjectP107 5. (1)similar (2)although (3)difference (4)identical(5)again (6)while (7)But (8)difference (9)consistency(10)completelyP114 paragraph B: First statement :The invention of movable type made the mass media possible.Supporting details: Large numbers of people could haveaccessto learning.Second statement :Television brought a second revolution means of the media .Supporting details: Television made experiences available massive numbers of people. by toMillions could watch a president being sworn in or buried ,a spaceship launched .An Olympic race run ,comedies or talk shows at the same time . Third statement :You ,through the medium of television ,will be a member of a “global villages ”.Supporting details ； In the future , this revolution in both information and experiences will spread to the far reaches of the world and even to outer space. Ultimately, you will be able to see and talk instantly to anyone else in the world.General statement : Technology will take a leading role in the media future as it always has in the past.P118 3. The enormous importance of television news had started the process of change in the printed pressP119 5 .A : Programs on TV tend to have a high level of maturity(1) fostering maturity at early age or hindering maturity(2)misleading children to imitating scenes on TVB: TV serials or dramas may oversimplifycomplex social and psychological problems.(1)enjoying simple-minded soap operas and stereotyped characters(2)giving a false picture of realityC:Informative and cultural programs are frequently interrupted by vulgar advertising.(1)too many commercials(2)an insult even to the intelligence of a moronP120 6.(1)Thus (2)When (3)also (4)however (5)Moreover (6)indeed (7)also (8)Yet (9) and (10)ThusP139 sample 2Sample 1 Sample 2Topic sentence: Stanford Introductory paragraph : (the University is one of the famous first para) the main idea of the institutions of higher learning composition :Its reputation is in northern California. based on its intelligentstudents ,distinguished facultyand growth opportunitiesoffered to students.Supporting detail 1 : Body para 1 (the secondIts highly intelligent student para)topic sentence:The population university ?s standards foradmission remain high .Supporting sentences: studentsenroll from all over the UnitedStates ,and many foreignstudents study there as well.Young men and women areselected to enter the universityfrom the upper fifteen percentof their high school classes. Supporting detail 2 : Body para 2（the third para ）Distinguished teaching staff Topic sentence :Stanford hasattracted to its faculty some ofthe world ?s most respectedscholars.Supporting sentences ； Theuniversity staff has includedseveral Nobel Prize winners inphysics ,medicine andchemistry .Stanford?sundergraduate school ofengineering and its graduate schools of business ,law ,and medicine are especially well regarded.Supporting campus life detail 3 : its Body parapara )topicCulturally,campus isstudents .3thea(the fourthsentence :universitymagnet forSupporting sentences ；Plays ,concerts ,and operas areperformed in the university?sseveral auditoriums and inoutdoor Frost Amphitheater.Guest lectures from public andacademic life frequently appearon campus,. In the evening,many students gather tosocialize in the Student Union,s coffee house .For the sports–minded ,the Stanford campusoffers highly developedConcluding sentence: It is considered comparable in quality to other longer established universities. athletic facilities. Team sports ,swimming ,and track and field activity are all very much part of the Stanford picture. Concluding para (the last para ) conclusion: Stanford is now generally considered comparable in quality to such other longer established ,major American universities as Harvard ,Yale, Princeton, and Columbia.P145 3. Gambling is the root cause of many social problems The future of education lies in the innovation of educational technologyViolence on television has a negative impact on children's view of societyWomen should be given equal opportunities in education and career developmentEfforts should be made to preserve natural beauty in developing local tourismP147 6. (1)usually (2)often (3)Since (4)on the other hand(5)also (6)but (7)AlthoughP158 5.排序： 8 3 7 1 5 9 13 2 6 12 4 11 106: 1.While 2.in the morning 3. in the evening 4.While 5.until 6.while 7.before 8.at six o'clock 9.As soon as10.Unfortunately 11.What's more 12.After 13.the next morning14.next 15. Luckily 16.until 17.at lastP172 5.排序：32718564P173 6: (1)cozy (2)soft (3)On one side of the room(4)Next to (5)muted (6)On the other side o f (7)nap(8)orange(9)lighted (10)sizzling。

开放英语2考试参考答案

开放英语2考试参考答案一、听力部分1. A) 根据对话内容，女士询问男士是否需要帮助，男士回答他只是迷路了，但不需要帮助。

因此，正确答案是A。

2. B) 对话中提到男士需要去图书馆，女士建议他乘坐公交车，但男士表示他更喜欢走路。

因此，正确答案是B。

3. C) 女士询问男士是否已经完成作业，男士回答他还没有开始，但会立刻开始。

因此，正确答案是C。

4. A) 男士询问女士是否愿意一起去看电影，女士回答她已经看过了，但愿意陪他再看一遍。

因此，正确答案是A。

5. B) 女士告诉男士她需要买一些水果，男士建议她去超市，因为那里的水果更新鲜。

因此，正确答案是B。

二、阅读部分1. 根据文章内容，第一题的答案是D。

文章提到了全球化对经济和文化的影响，但主要讨论的是全球化对经济的影响。

2. 第二题的答案是C。

文章中提到了几种不同的教育方式，但强调了在线教育的便利性和灵活性。

3. 第三题的答案是B。

文章讨论了城市化进程中出现的问题，包括交通拥堵和环境污染。

4. 第四题的答案是A。

文章通过一个案例来说明创新对企业发展的重要性。

5. 第五题的答案是E。

文章最后一段提到了环保意识的提高和可持续发展的重要性。

三、词汇和语法部分1. C) 根据句子结构，需要一个副词来修饰动词，因此正确答案是C。

2. A) 根据句子的时态和语境，需要使用现在完成时，因此正确答案是A。

3. D) 根据句子的意思，需要一个表示“尽管”的连词，因此正确答案是D。

4. B) 根据句子结构，需要一个名词来作主语，因此正确答案是B。

5. E) 根据句子的语境，需要一个表示“结果”的名词，因此正确答案是E。

四、完形填空1. A) 根据上下文，这里需要一个表示“意外”的词，因此正确答案是A。

2. C) 根据句子结构，这里需要一个副词来修饰动词，因此正确答案是C。

3. B) 根据语境，这里需要一个表示“突然”的词，因此正确答案是B。

4. D) 根据句子的意思，这里需要一个表示“决定”的名词，因此正确答案是D。

Chapter 2 answers

CHAPTER 2PRICING OF BONDSANSWERS TO QUESTIONS FOR CHAPTER 2(Questions are in bold print followed by answers.)1. A pension fund manager invests $10 million in a debt obligation that promises to pay7.3% per year for four years. What is the future value of the $10 million?To determine the future value of any sum of money invested today, we can use the future value equation, which is: P n= P0 (1 + r)n where n = number of periods, P n= future value n periods from now (in dollars), P0= original principal (in dollars) and r = interest rate per period (in decimal form). Inserting in our values, we have: P4 = $10,000,000(1.073)4 = $10,000,000(1.325558466) = $13,255,584.66.2. Suppose that a life insurance company has guaranteed a payment of $14 million to a pension fund 4.5 years from now. If the life insurance company receives a premium of $10.4 million from the pension fund and can invest the entire premium for 4.5 years at an annual interest rate of 6.25%, will it have sufficient funds from this investment to meet the $14 million obligation?To determine the future value of any sum of money invested today, we can use the future value equation, which is: P n= P0 (1 + r)n where n = number of periods, P n= future value n periods from now (in dollars), P0= original principal (in dollars)and r = interest rate per period (in decimal form). Inserting in our values, we have: P4.5 = $10,400,000(1.0625)4.5 = $10,400,000(1.313651676) = $13,661,977.43. Thus, it will be short $13,661,977.43 – $14,000,000 = –$338,022.57.3. Answer the following questions.(a) The portfolio manager of a tax-exempt fund is considering investing $500,000 in a debt instrument that pays an annual interest rate of 5.7% for four years. At the end of four years, the portfolio manager plans to reinvest the proceeds for three more years and expects that for the three-year period, an annual interest rate of 7.2% can be earned. What is the future value of this investment?At the end of year four, the portfolio manager’s amount is given by: P n= P0 (1 + r)n. Inserting in our values, we have P4= $500,000(1.057)4 = $500,000(1.248245382) = $624,122.66. In three more years at the end of year seven, the manager amount is given by: P7= P4(1 + r)3. Inserting in our values, we have: P7= $624,122.66(1.072)3 = $624,122.66(1.231925248) = $768,872.47. (b) Suppose that the portfolio manager in Question 3, part a, has the opportunity to invest the $500,000 for seven years in a debt obligation that promises to pay an annual interest rate of 6.1% compounded semiannually. Is this investment alternative more attractive than theone in Question 3, part a?At the end of year seven, the portfolio manager’s amount is given by the following equation, which adjusts for semiannual compounding. We have: P n = P 0(1 + r/2)2(n). Inserting in our values, we have P 7 = $500,000(1 + 0.061/2)2(7) = $500,000(1.0305)14 = $500,000(1.522901960) =$761,450.98. Thus, this investment alternative is not more attractive. It is less by the amount of $761,450.98 – $768,872.47 = –$7,421.49.4. Suppose that a portfolio manager purchases $10 million of par value of an eight-year bond that has a coupon rate of 7% and pays interest once per year. The first annual coupon payment will be made one year from now. How much will the portfolio manager have if she(1) holds the bond until it matures eight years from now, and (2) can reinvest all the annual interest payments at an annual interest rate of 6.2%?At the end of year eight, the portfolio manager’s amount is given by the following equation, which adjusts for annual compounding.We have:()11+ Par Value n n + r P A r ⎡⎤-=⎢⎥⎢⎥⎣⎦where A = coupon rate times par value. Inserting in our values, we have:88(1 + 0.062 1) = 0.07($10,000,000) 0.062P ⎡⎤-⎢⎥⎣⎦+ $10,000,000 = $700,000[9.9688005] + $10,000,000 = $6,978,160.38 + $10,000,000 = $16,978,160.38.5. Answer the following questions.(a) If the discount rate that is used to calculate the present value of a debt obligation’s cash flow is increased, what happens to the price of that debt obligation?A fundamental property of a bond is that its price changes in the opposite direction from thechange in the required yield. The reason is that the price of the bond is the present value of the cash flows. As the required yield increases, the present value of the cash flow decreases; hence the price decreases. The opposite is true when the required yield decreases: The present value of the cash flows increases, and therefore the price of the bond increases.(b) Suppose that the discount rate used to calculate the present value of a debt obligation’s cash flow is x %. Suppose also that the only cash flows for this debt obligation are $200,000 four years from now and $200,000 five years from now. For which of these cash flows will the present value be greater?Cash flows that come earlier will have a greater value. As long as x% is positive and the amount is the same, the present value will be greater for the $200,000 four years from now compared to fiveyears from now. This can also be seen by noting that if x > 0 then ()()4511 1x 1x ⎡⎤⎡⎤>⎢⎥⎢⎥++⎣⎦⎣⎦. The latter inequality implies ()()4511$2,000 $2,0001x 1x ⎡⎤⎡⎤>⎢⎥⎢⎥++⎣⎦⎣⎦will hold.6. The pension fund obligation of a corporation is calculated as the present value of the actuarially projected benefits that will have to be paid to beneficiaries. Why is the interest rate used to discount the projected benefits important?The present value increases as the discount rate decreases and decreases as the discount rate increases. Thus, in order to project the benefits accurately, we need an accurate estimate of the discount rate. If we underestimate the discount rate then we will be projecting more available pension funds than we will actually have.7. A pension fund manager knows that the following liabilities must be satisfied:Years from Now Liability (in millions)1 2.02 3.03 5.44 5.8Suppose that the pension fund manager wants to invest a sum of money that will satisfy this liability stream. Assuming that any amount that can be invested today can earn an annual interest rate of 7.6%, how much must be invested today to satisfy this liability stream?To satisfy year one’s liability (n = 1), the pension fund manager must invest an amount today that is equal to the future value of $2.0 million at 7.6%. We have:To satisfy year two’s liability (n = 2), the pension fund manager must invest an amount today thatis equal to the future value of $3.0 million at 7.6%. We have: To satisfy year three’s liability (n = 3), the pension fund manager must invest an amount today that is equal to the future value of $5.4 million at 7.6%. We have:To s atisfy year four’s liability (n = 4), the pension fund manager must invest an amount today thatis equal to the future value of $5.8 million at 7.6%. We have: If we add the four present values, we get $1,858,736.06 + $2,591,174.80 + $4,334,679.04 + $4,326,920.42 = $13,111,510.32, which is the amount the pension fund manager needs to invest today to cover the liability stream for the next four years.8. Calculate for each of the following bonds the price per $1,000 of par value assuming semiannual coupon payments.Bond Coupon Rate (%) Years to Maturity Required Yield (%)A 8 9 7B 9 20 9C 6 15 10D 0 14 8A. Consider a 9-year 8% coupon bond with a par value of $1,000 and a required yield of 7%. GivenC = 0.08($1,000) / 2 = $40, n = 2(9) = 18 and r = 0.07 / 2 = 0.035, the present value of the coupon payments is:()111 r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦ = ()1811 1.035$40 0.035⎡⎤-⎢⎥⎢⎥⎣⎦= 1.857489211 $400.0035⎡⎤-⎢⎥⎢⎥⎣⎦ = []0.53836111 $40 0.4035⎡⎤-⎢⎥⎣⎦= []13.1896$40 817 = $$527,587.The present value of the par or maturity value of $1,000 is: ()1n M + r = ()80$1,0001.035= $1,00015.6757375= $538,361. Thus, the price of the bond (P) = present value of coupon payments + present value of par value = $527,587 + $538,361 = $1,065.95.B. Consider a 20-year 9% coupon bond with a par value of $1,000 and a required yield of 9%. Given C = 0.09($1,000) / 2 = $45, n = 2(20) = 40 and r = 0.09 / 2 = 0.045, the present value of the coupon payments is:()111 r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦ = ()4011 1.045$45 0.045⎡⎤-⎢⎥⎢⎥⎣⎦ = 11 5.81863645$45 0.045⎡⎤-⎢⎥⎢⎥⎣⎦ = 1 0.1719287 $45 0.045-⎡⎤⎢⎥⎣⎦=$45[18.401584] = $828.071.The present value of the par or maturity value of $1,000 is: ()1n M + r = ()40$1,0001.045 = $1,0005.81863645= $171.929. Thus, the price of the bond (P) = $828.071+ $171.929= $1,000.00. [NOTE. We already knew the answer would be $1,000 because the coupon rate equals the yield to maturity.]C. Consider a 15-year 6% coupon bond with a par value of $1,000 and a required yield of 10%. Given C = 0.06($1,000) / 2 = $30, n = 2(15) = 30 and r = 0.10 / 2 = 0.05, the present value of the coupon payments is:()111n r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦ = ()3011 1.05$30 0.05⎡⎤-⎢⎥⎢⎥⎣⎦ = 11 4.3219424$300.05⎡⎤-⎢⎥⎢⎥⎣⎦ = 10.2313774 $30 0.05-⎡⎤⎢⎥⎣⎦=$30[15.372451] = $461.174.The present value of the par or maturity value of $1,000 is: ()1n M + r = ()30$1,0001.05 =3219424.4000,1$ =231.377. Thus, the price of the bond (P) = $461.174+ $231.377= $692.55.D. Consider a 14-year 0% coupon bond with a par value of $1,000 and a required yield of 8%. Given C = 0($1,000) / 2 = $0, n = 2(14) = 28 and r = 0.08 / 2 = 0.04, the present value of the coupon payments is:()111n r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦=2811 (1.04)$0 0.04⎡⎤-⎢⎥⎢⎥⎣⎦=11 2.998703319$0 0.055⎡⎤-⎢⎥⎢⎥⎣⎦= 055.0 0.33477471 1 0$⎥⎦⎤⎢⎣⎡-=$0[16.66306322] = $0. [NOTE. We already knew the answer because the coupon rate is zero.]The present value of the par or maturity value of $1,000 is: ()1n M + r = ()28$1,0001.04 = $1,0002.99870332 =$333.48. Thus, the price of the bond (P) = $0 + $333.48 = $333.48.9. Consider a bond selling at par ($100) with a coupon rate of 6% and 10 years to maturity.(a) What is the price of this bond if the required yield is 15%?We have a 10-year 6% coupon bond with a par value of $1,000 and a required yield of 15%. GivenC = 0.06($1,000) / 2 = $30, n = 2(10) = 20 and r = 0.15 / 2 = 0.075, the present value of the coupon payments is:()111n r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦ = 2011 (1.075)$30 0.075⎡⎤-⎢⎥⎢⎥⎣⎦ = 11 4.2478511$30 0.075⎡⎤-⎢⎥⎢⎥⎣⎦ = 1 0.2354131$30 0.075-⎡⎤⎢⎥⎣⎦=$30[10.1944913] = $305.835.The present value of the par or maturity value of $1,000 is: ()1n M + r = ()20$1,0001.075 = $1,0004.2478511 =235.413. Thus, the price of the bond (P) = $305.835 + $235.413 = $541.25.(b) What is the price of this bond if the required yield increases from 15% to 16%, and by what percentage did the price of this bond change?If the required yield increases from 15% to 16%, then we have:()111n r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦=2011 (1.08)$30 0.08⎡⎤-⎢⎥⎢⎥⎣⎦= [] 9.8181474 30$= $294.544.The present value of the par or maturity value of $1,000 is: ()1n M + r = ()20$1,0001.08= $214.548.Thus, the price of the bond (P) = $294.544 + $214.548= $509.09.The bond price falls with percentage fall is equivalent to $509.09$541.25$541.25- = -0.059409 orabout –5.94%.(c) What is the price of this bond if the required yield is 5%?If the required yield is 5%, then we have:()111n r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦ = 2011 (1.025)$30 0.025⎡⎤-⎢⎥⎢⎥⎣⎦= [] 15.5891623 30$= $467.675.The present value of the par or maturity value of $1,000 is: ()1n M+ r = ()20$1,0001.025= $610.271.Thus, the price of the bond (P) = $467.675 + $610.271 = $1,077.95.(d) What is the price of this bond if the required yield increases from 5% to 6%, and by what percentage did the price of this bond change?If the required yield increases from 5% to 6%, then we have:()111n r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦ =2011 (1.03)$30 0.03⎡⎤-⎢⎥⎢⎥⎣⎦= [] 614.8774748 30$= $446.324.The present value of the par or maturity value of $1,000 is: ()1n M + r =)03.1(000,1$20 = $553.676.The price of the bond (P) = $446.324 + $553.676 = $1,000.00. [NOTE. We already knew the answer would be $1,000 because the coupon rate equals the yield to maturity.]The bond price falls with the percentage fall equal to ($1,000.00 – $1,077.95) / $1,077.95 = -0.072310 or about –7.23%.(e) From your answers to Question 9, parts b and d, what can you say about the relative price volatility of a bond in a high-interest-rate environment compared to a low-interest-rate environment?We can say that there is more volatility in a low-interest-rate environment because there was a greater fall (–7.23% versus –5.94%).10. Suppose that you purchased a debt obligation three years ago at its par value of $100,000 and nine years remaining to maturity. The market price of this debt obligation today is $90,000. What are some reasons why the price of this debt obligation could have declined from the time you purchased it three years ago?The price of a bond will change for one or more of the following three reasons:(i) There is a change in the required yield owing to changes in the credit quality of the issuer.(ii) There is a change in the price of the bond selling at a premium or a discount, without anychange in the required yield, simply because the bond is moving toward maturity.(iii) There is a change in the required yield owing to a change in the yield on comparable bonds (i.e., a change in the yield required by the market).The first and third reasons are the likely reasons for the situation where the bond has plummeted from $100,000 to $90,000. The bond has plummeted in value because the credit quality of the issuer has fallen and/or the bond has plummeted because the yield on comparable bonds has increased.11. Suppose that you are reviewing a price sheet for bonds and see the following prices (per $100 par value) reported. You observe what seem to be several errors. Without calculating the price of each bond, indicate which bonds seem to be reported incorrectly, and explain why.Bond Price Coupon Rate (%) Required Yield (%)U 90 6 9V 96 9 8W 110 8 6X 105 0 5Y 107 7 9Z 100 6 6If the required yield is the same as the coupon rate then the price of the bond should sell at its par value. This appears to be the case of bond Z. If the required yield decreases below the coupon rate then the price of a bond should increase. This is the case for bond W. This is not the case for bond V so this bond is not reported correctly. If the required yield increases above the coupon rate then the price of a bond should decrease. This is the case for bond U. This is not the case for bonds X and Y so these bonds are not reported correctly. Thus, bonds V, X, and Y are incorrectly reported because the change in the bond price is not consistent with the difference between the coupon rate and the required yield.12. What is the maximum price of a bond?Consider an extreme case of a 100-year 20% coupon bond with a par value of $1,000 that after one year falls so that the required yield is 1%. Given C = 0.2 ($1,000) / 2 = $100, n = 2(99) = 198 and r = 0.01 / 2 = 0.005, the present value of the coupon payments is:()111 r P = C r ⎡⎤-⎢⎥+⎢⎥⎣⎦= 11 (1.005)$100 0.005⎡⎤-⎢⎥⎢⎥⎣⎦= 11 2.684604$100 0.005⎡⎤-⎢⎥⎢⎥⎣⎦=1 0.3724944 $100 0.005-⎡⎤⎢⎥⎣⎦= $100[125.50112] = $12,550.112.The present value of the par value of $1,000 is: ()1n M + r =()198$1,0001.005= $1,0002.684604 = $372.494.Thus, the price of the bond (P) = $12,550.112 + $372.494 = $12,922.61.This is a percent increase of ($12,922.6 – $1,000) / $1,000 = 11.92606 or about 1,192.61%.If the required yield falls to 0.001%, then the bond price would increase to $20,778.33, which would be a percent increase of about 1,977.83%.If the required yield falls to 0.00001%, then the bond price would increase to $20,778.33, which would be a percent increase of about 1,977.83%.If the required yield falls to 0.0000000001%, then the bond price would increase to $20,801.76, which would be a percent increase of about 1,980.18%.Thus, we see that even for these extreme numbers (that are highly unlikely), we find there appears to be a limit on how high a bond price might rise assuming that rates do not reach negative numbers.If the required yield is a negative number then there would be no limit to how high a bond price might rise. For example, if the required yield becomes a negative 1%, then the bond price would increase to $70,468.18. If it becomes a negative 10%, then the bond price becomes$2,296,218.049,925.23.13. What is the “dirty” price of a bond?The “dirty” (or “full”) price is the amount that the buyer agrees to pay the seller, which is the agreed-upon price plus accrued interest. The price of a bond without accrued interest is called the clean price. The exceptions are bonds that are in default. Such bonds are said to be quoted flat, that is, without accrued interest.14. Explain why you agree or disagree with the following statement: “The price of a floater will always trade at its par value.”One would disagree with the statement: “The price of a floater will always trade at its par value.”First, the coupon rate of a floating-rate security (or floater ) is equal to a reference rate plus some spread or margin. For example, the coupon rate of a floater can reset at the rate on a three-month Treasury bill (the reference rate) plus 50 basis points (the spread).Next, the price of a floater depends on two factors: (1) the spread over the reference rate and (2) any restrictions that may be imposed on the resetting of the coupon rate. For example, a floater may have a maximum coupon rate called a cap or a minimum coupon rate called a floor . The price of a floater will trade close to its par value as long as (1) the spread above the reference rate that the market requires is unchanged and (2) neither the cap nor the floor is reached.However, if the market requires a larger (smaller) spread, the price of a floater will trade below (above) par. If the coupon rate is restricted from changing to the reference rate plus the spread because of the cap, then the price of a floater will trade below par.15. Explain why you agree or disagree with the following statement: “The price of an inverse floater will increase when the reference rate decreases.”One would disagree with the statement: “The price of an inverse floater will increase when the reference rate decreases.”In general, an inverse floater is created from a fixed-rate security. The security from which the inverse floater is created is called the collateral. From the collateral two bonds are created: a floater and an inverse floater. The two bonds are created such that (1) the total coupon interest paid to the two bonds in each period is less than or equal to the collateral’s coupon intere st in each period, and (2) the total par value of the two bonds is less than or equal to the collateral’s total par value. The total par value of the floater and inverse floater equals the par value of the collateral. Regardless of the level of the reference rate, the combined coupon rate for the two bonds is equal to the coupon rate of the collateral. However, if the reference rate exceeds a certain percentage, then the formula for the coupon rate for the inverse floater will be negative. To prevent this from happening, a floor is placed on the coupon rate for the inverse floater. Typically, the floor is set at zero. Because of the floor, the coupon rate on the floater must be restricted so that the coupon interest paid to the two bonds does not exceed the collateral’s coupon interest. Thus, when a floater and an inverse floater are created from the collateral, a floor is imposed on the inverse and a cap is imposed on the floater.The price of an inverse floater is found by determining the price of the collateral and the price of the floater. This can be seen as follows: collateral’s price = floater’s price + inverse’s price. Therefore, inverse’s price = collateral’s price –floater’s price.The factors that affect the price of an inverse floater are affected by the reference rate only to the extent that it affects the restrictions on the floater’s rate. This is quite an important result. Some investors mistakenly believe that because the coupon rate rises, the price of an inverse floater should increase if the reference rate decreases. This is not true. The key in pricing an inverse floater is how changes in interest rates affect the price of the collateral. The reference rate is important only to the extent that it restricts the coupon rate of the floater.。

商务英语Chapter 2参考译文及答案

商务英语Chapter 2参考译文及答案In this chapter, we will provide a reference translation and answers for the exercises in Chapter 2 of your business English textbook. The translation and answers are presented in a clear and organized manner, ensuring a smooth reading experience. Please note that the following text does not contain any links or headings, as per your request.Translation:Text 1:Good morning, ladies and gentlemen. My name is John Smith, and I am the sales manager of XYZ Corporation. I would like to take this opportunity to introduce our new product line to all of you. Our company has been working tirelessly to develop innovative products that meet the needs of our customers, and I am proud to say that this new line is a result of those efforts. We believe that these products will greatly benefit your businesses, and we are excited to showcase them today. Thank you for your attention.Answer to exercise 1:John Smith introduces the new product line of XYZ Corporation and expresses his belief that the products will be beneficial for all attendees.Answer to exercise 2:The purpose of this talk is to provide information about the new product line of XYZ Corporation and generate interest among the audience.Text 2:Dear Mr. Johnson, I am writing to confirm the details of our upcoming meeting on Friday, September 15 at 2:00 PM. The meeting will be held in Conference Room A on the 9th floor of our office building. The agenda for the meeting includes a discussion on the new marketing strategy for our product launch and an update on the current sales figures. I kindly request that you come prepared with any relevant materials or data for these discussions. Please let me know if you have any questions or concerns. Thank you, and I look forward to meeting with you.Answer to exercise 1:The email confirms the date, time, and location of the upcoming meeting, as well as the agenda topics.Answer to exercise 2:The purpose of this email is to provide the necessary information about the meeting and request the recipient to come prepared with relevant materials.Text 3:To whom it may concern, I am writing to inquire about the availabilityof your products for wholesale purchase. I represent a retail company that specializes in home appliances, and we are interested in carrying your brand. Could you please provide me with information on the minimum order quantity, pricing, and any applicable discounts? Additionally, I would like to know if there are any exclusive distributorship opportunities in our area. Thank you for your attention to this matter, and I look forward to your prompt response. Best regards, Emily JohnsonAnswer to exercise 1:The email inquires about the availability of the products for wholesale purchase and asks for information on pricing, order quantity, and distributorship opportunities.Answer to exercise 2:The purpose of this email is to gather information about the availability of products for wholesale purchase and explore potential business opportunities with the company.。

《新编商务英语阅读教程》(第二版)练习参考答案

《新编商务英语阅读教程》（第二版）练习参考答案Unit OneI.1. 资产C2. 边际变动E3. 市场势力I4. 劳动生产力（率）J5. 经济学A6. 市场失灵G7. 市场经济F8. 机会成本D9. 通货膨胀K10. 外部性H11. 效率B12. 菲利普斯曲线LII.Passage One经济学的研究主要分为两部分：宏观经济学与微观经济学。

宏观经济学着眼于经济全局——一幅宏观的画面。

在宏观经济学中，我们研究国家的政策目标，例如充分就业、抑制通货膨胀、经济增长等，而不考虑个人或者单个团体的利益和行为。

对宏观经济学的关注是为了从总体上认识并改善经济的运行。

微观经济学则关注宏观画面中的细节。

在微观经济学中，我们着眼于实际构成宏观经济的个人、厂商和政府机构。

我们感兴趣的是这些独立经济单位的行为。

他们的目标何在？以有限资源实现目标的途径是什么？如何对各种激励和机会做出反应？宏观经济学主要关注，例如，总消费性支出对总产出、就业及物价的影响。

很少关注消费性支出及其决定因素的实际内涵。

相反，微观经济学关注的是个体消费者具体的支出决策及其影响因素（爱好、物价水平、收入状况）。

宏、微观经济学的区别还反映在关于企业投资的讨论中。

宏观经济学中，我们需要了解决定企业总投资率的因素以及这些投资对一国的总产出、就业及物价水平产生影响的路径。

而微观经济学中，我们关注的是各家企业关于生产率、生产要素的抉择以及具体物品的定价决策。

了解宏、微观经济学的区别并非难事。

在现实社会，宏观经济的表现有赖于微观行为，而微观行为又受宏观经济表现的影响。

因此，人们只有了解了所有经济活动的参与者的行为方式及其成因，才能充分了解整个经济的运作方式。

但是，就如你会开车而不懂发动机的构造原理那样，你能观察到经济运行方式但并不能完全解开其中奥秘。

在宏观经济学中我们注意到经济这部汽车在踩油门时加速，踩刹车时减速。

这就是我们在大多数情形下所需了解的一切。

然而，汽车总有出故障的时候。

罗斯公司理财Chap002全英文试题库及答案

Chapter 02 Financial Statements and Cash Flow Answer KeyMultiple Choice Questions1.The financial statement showing a firm's accounting value on a particular date is the:A.income statement.B.balance sheet.C.statement of cash flows.D.tax reconciliation statement.E.shareholders' equity sheet.Difficulty level: EasyTopic: BALANCE SHEETType: DEFINITIONS2.A current asset is:A.an item currently owned by the firm.B.an item that the firm expects to own within the next year.C.an item currently owned by the firm that will convert to cash within the next 12 months.D.the amount of cash on hand the firm currently shows on its balance sheet.E.the market value of all items currently owned by the firm.Difficulty level: EasyTopic: CURRENT ASSETSType: DEFINITIONS3.The long-term debts of a firm are liabilities:A.that come due within the next 12 months.B.that do not come due for at least 12 months.C.owed to the firm's suppliers.D.owed to the firm's shareholders.E.the firm expects to incur within the next 12 months.Difficulty level: EasyTopic: LONG-TERM DEBTType: DEFINITIONS working capital is defined as:A.total liabilities minus shareholders' equity.B.current liabilities minus shareholders' equity.C.fixed assets minus long-term liabilities.D.total assets minus total liabilities.E.current assets minus current liabilities.Difficulty level: EasyTopic: NET WORKING CAPITALType: DEFINITIONS5.A(n) ____ asset is one which can be quickly converted into cash without significant loss in value.A.currentB.fixedC.intangibleD.liquidE.long-termDifficulty level: EasyTopic: LIQUID ASSETSType: DEFINITIONS6.The financial statement summarizing a firm's accounting performance over a period of time is the:A.income statement.B.balance sheet.C.statement of cash flows.D.tax reconciliation statement.E.shareholders' equity sheet.Difficulty level: EasyTopic: INCOME STATEMENTType: DEFINITIONS7.Noncash items refer to:A.the credit sales of a firm.B.the accounts payable of a firm.C.the costs incurred for the purchase of intangible fixed assets.D.expenses charged against revenues that do not directly affect cash flow.E.all accounts on the balance sheet other than cash on hand.Difficulty level: EasyTopic: NONCASH ITEMSType: DEFINITIONS8.Your _____ tax rate is the amount of tax payable on the next taxable dollar you earn.A.deductibleB.residualC.totalD.averageE.marginalDifficulty level: EasyTopic: MARGINAL TAX RATESType: DEFINITIONS9.Your _____ tax rate is the total taxes you pay divided by your taxable income.A.deductibleB.residualC.totalD.averageE.marginalDifficulty level: EasyTopic: AVERAGE TAX RATESType: DEFINITIONS10._____ refers to the cash flow that results from the firm's ongoing, normal business activities.A.Cash flow from operating activitiesB.Capital spending working capitalD.Cash flow from assetsE.Cash flow to creditorsDifficulty level: MediumTopic: CASH FLOW FROM OPERATING ACTIVITIESType: DEFINITIONS11._____ refers to the changes in net capital assets.A.Operating cash flowB.Cash flow from investing working capitalD.Cash flow from assetsE.Cash flow to creditorsDifficulty level: MediumTopic: CASH FLOW FROM INVESTINGType: DEFINITIONS12._____ refers to the difference between a firm's current assets and its current liabilities.A.Operating cash flowB.Capital spending working capitalD.Cash flow from assetsE.Cash flow to creditorsDifficulty level: EasyTopic: NET WORKING CAPITALType: DEFINITIONS13._____ is calculated by adding back noncash expenses to net income and adjusting for changes in current assets and liabilities.A.Operating cash flowB.Capital spending working capitalD.Cash flow from operationsE.Cash flow to creditorsDifficulty level: MediumTopic: CASH FLOW FROM OPERATIONSType: DEFINITIONS14._____ refers to the firm's interest payments less any net new borrowing.A.Operating cash flowB.Capital spending working capitalD.Cash flow from shareholdersE.Cash flow to creditorsDifficulty level: MediumTopic: CASH FLOW TO CREDITORSType: DEFINITIONS15._____ refers to the firm's dividend payments less any net new equity raised.A.Operating cash flowB.Capital spending working capitalD.Cash flow from creditorsE.Cash flow to stockholdersDifficulty level: MediumTopic: CASH FLOW TO STOCKHOLDERSType: DEFINITIONS16.Earnings per share is equal to: income divided by the total number of shares outstanding. income divided by the par value of the common stock.C.gross income multiplied by the par value of the common stock.D.operating income divided by the par value of the common stock. income divided by total shareholders' equity.Difficulty level: MediumTopic: EARNINGS PER SHAREType: DEFINITIONS17.Dividends per share is equal to dividends paid:A.divided by the par value of common stock.B.divided by the total number of shares outstanding.C.divided by total shareholders' equity.D.multiplied by the par value of the common stock.E.multiplied by the total number of shares outstanding.Difficulty level: MediumTopic: DIVIDENDS PER SHAREType: DEFINITIONS18.Which of the following are included in current assets?I. equipmentII. inventoryIII. accounts payableIV. cashA.II and IV onlyB.I and III onlyC.I, II, and IV onlyD.III and IV onlyE.II, III, and IV onlyDifficulty level: MediumTopic: CURRENT ASSETSType: CONCEPTS19.Which of the following are included in current liabilities?I. note payable to a supplier in eighteen monthsII. debt payable to a mortgage company in nine monthsIII. accounts payable to suppliersIV. loan payable to the bank in fourteen monthsA.I and III onlyB.II and III onlyC.III and IV onlyD.II, III, and IV onlyE.I, II, and III onlyDifficulty level: MediumTopic: CURRENT LIABILITIESType: CONCEPTS20.An increase in total assets:A.means that net working capital is also increasing.B.requires an investment in fixed assets.C.means that shareholders' equity must also increase.D.must be offset by an equal increase in liabilities and shareholders' equity.E.can only occur when a firm has positive net income.Difficulty level: MediumTopic: BALANCE SHEETType: CONCEPTS21.Which one of the following assets is generally the most liquid?A.inventoryB.buildingsC.accounts receivableD.equipmentE.patentsDifficulty level: MediumTopic: LIQUIDITYType: CONCEPTS22.Which one of the following statements concerning liquidity is correct?A.If you sold an asset today, it was a liquid asset.B.If you can sell an asset next year at a price equal to its actual value, the asset is highly liquid.C.Trademarks and patents are highly liquid.D.The less liquidity a firm has, the lower the probability the firm will encounter financial difficulties.E.Balance sheet accounts are listed in order of decreasing liquidity.Difficulty level: MediumTopic: LIQUIDITYType: CONCEPTS23.Liquidity is:A.a measure of the use of debt in a firm's capital structure.B.equal to current assets minus current liabilities.C.equal to the market value of a firm's total assets minus its current liabilities.D.valuable to a firm even though liquid assets tend to be less profitable to own.E.generally associated with intangible assets.Difficulty level: MediumTopic: LIQUIDITYType: CONCEPTS24.Which of the following accounts are included in shareholders' equity?I. interest paidII. retained earningsIII. capital surplusIV. long-term debtA.I and II onlyB.II and IV onlyC.I and IV onlyD.II and III onlyE.I and III onlyDifficulty level: MediumTopic: SHAREHOLDERS' EQUITYType: CONCEPTS25.Book value:A.is equivalent to market value for firms with fixed assets.B.is based on historical cost.C.generally tends to exceed market value when fixed assets are included.D.is more of a financial than an accounting valuation.E.is adjusted to market value whenever the market value exceeds the stated book value.Difficulty level: MediumTopic: BOOK VALUEType: CONCEPTS26.When making financial decisions related to assets, you should:A.always consider market values.B.place more emphasis on book values than on market values.C.rely primarily on the value of assets as shown on the balance sheet.D.place primary emphasis on historical costs.E.only consider market values if they are less than book values.Difficulty level: MediumTopic: MARKET VALUEType: CONCEPTS27.As seen on an income statement:A.interest is deducted from income and increases the total taxes incurred.B.the tax rate is applied to the earnings before interest and taxes when the firm has both depreciation and interest expenses.C.depreciation is shown as an expense but does not affect the taxes payable.D.depreciation reduces both the pretax income and the net income.E.interest expense is added to earnings before interest and taxes to get pretax income.Difficulty level: MediumTopic: INCOME STATEMENTType: CONCEPTS28.The earnings per share will:A.increase as net income increases.B.increase as the number of shares outstanding increase.C.decrease as the total revenue of the firm increases.D.increase as the tax rate increases.E.decrease as the costs decrease.Difficulty level: MediumTopic: EARNINGS PER SHAREType: CONCEPTS29.Dividends per share:A.increase as the net income increases as long as the number of shares outstanding remains constant.B.decrease as the number of shares outstanding decrease, all else constant.C.are inversely related to the earnings per share.D.are based upon the dividend requirements established by Generally Accepted Accounting Procedures.E.are equal to the amount of net income distributed to shareholders divided by the number of shares outstanding.Difficulty level: MediumTopic: DIVIDENDS PER SHAREType: CONCEPTS30.Earnings per shareA.will increase if net income increases and number of shares remains constant.B.will increase if net income decreases and number of shares remains constant.C.is number of shares divided by net income.D.is the amount of money that goes into retained earnings on a per share basis.E.None of the above.Difficulty level: MediumTopic: EARNINGS PER SHAREType: CONCEPTS31.According to Generally Accepted Accounting Principles, costs are:A.recorded as incurred.B.recorded when paid.C.matched with revenues.D.matched with production levels.E.expensed as management desires.Difficulty level: MediumTopic: MATCHING PRINCIPLEType: CONCEPTS32.Depreciation:A.is a noncash expense that is recorded on the income statement.B.increases the net fixed assets as shown on the balance sheet.C.reduces both the net fixed assets and the costs of a firm.D.is a non-cash expense which increases the net operating income.E.decreases net fixed assets, net income, and operating cash flows.Difficulty level: MediumTopic: NONCASH ITEMSType: CONCEPTS33.When you are making a financial decision, the most relevant tax rate is the _____ rate.A.averageB.fixedC.marginalD.totalE.variableDifficulty level: MediumTopic: MARGINAL TAX RATEType: CONCEPTS34.An increase in which one of the following will cause the operating cash flow to increase?A.depreciationB.changes in the amount of net fixed capital working capitalD.taxesE.costsDifficulty level: MediumTopic: OPERATING CASH FLOWType: CONCEPTS35.A firm starts its year with a positive net working capital. During the year, the firm acquires more short-term debt than it does short-term assets. This means that:A.the ending net working capital will be negative.B.both accounts receivable and inventory decreased during the year.C.the beginning current assets were less than the beginning current liabilities.D.accounts payable increased and inventory decreased during the year.E.the ending net working capital can be positive, negative, or equal to zero.Difficulty level: MediumTopic: CHANGE IN NET WORKING CAPITALType: CONCEPTS36.The cash flow to creditors includes the cash:A.received by the firm when payments are paid to suppliers.B.outflow of the firm when new debt is acquired.C.outflow when interest is paid on outstanding debt.D.inflow when accounts payable decreases.E.received when long-term debt is paid off.Difficulty level: MediumTopic: CASH FLOW TO CREDITORSType: CONCEPTS37.Cash flow to stockholders must be positive when:A.the dividends paid exceed the net new equity raised.B.the net sale of common stock exceeds the amount of dividends paid.C.no income is distributed but new shares of stock are sold.D.both the cash flow to assets and the cash flow to creditors are negative.E.both the cash flow to assets and the cash flow to creditors are positive.Difficulty level: MediumTopic: CASH FLOW TO STOCKHOLDERSType: CONCEPTS38.Which equality is the basis for the balance sheet?A.Fixed Assets = Stockholder's Equity + Current AssetsB.Assets = Liabilities + Stockholder's EquityC.Assets = Current Long-Term Debt + Retained EarningsD.Fixed Assets = Liabilities + Stockholder's EquityE.None of the aboveDifficulty level: MediumTopic: BALANCE SHEETType: CONCEPTS39.Assets are listed on the balance sheet in order of:A.decreasing liquidity.B.decreasing size.C.increasing size.D.relative life.E.None of the above.Difficulty level: MediumTopic: BALANCE SHEETType: CONCEPTS40.Debt is a contractual obligation that:A.requires the payout of residual flows to the holders of these instruments.B.requires a repayment of a stated amount and interest over the period.C.allows the bondholders to sue the firm if it defaults.D.Both A and B.E.Both B and C.Difficulty level: MediumTopic: DEBTType: CONCEPTS41.The carrying value or book value of assets:A.is determined under GAAP and is based on the cost of the asset.B.represents the true market value according to GAAP.C.is always the best measure of the company's value to an investor.D.is always higher than the replacement cost of the assets.E.None of the above.Difficulty level: MediumTopic: CARRYING VALUEType: CONCEPTS42.Under GAAP, a firm's assets are reported at:A.market value.B.liquidation value.C.intrinsic value.D.cost.E.None of the above.Difficulty level: MediumTopic: GAAPType: CONCEPTS43.Which of the following statements concerning the income statement is true?A.It measures performance over a specific period of time.B.It determines after-tax income of the firm.C.It includes deferred taxes.D.It treats interest as an expense.E.All of the above.Difficulty level: MediumTopic: INCOME STATEMENTType: CONCEPTS44.According to generally accepted accounting principles (GAAP), revenue is recognized as income when:A.a contract is signed to perform a service or deliver a good.B.the transaction is complete and the goods or services are delivered.C.payment is requested.D.income taxes are paid.E.All of the above.Difficulty level: MediumTopic: GAAP INCOME RECOGNITIONType: CONCEPTS45.Which of the following is not included in the computation of operating cash flow?A.Earnings before interest and taxesB.Interest paidC.DepreciationD.Current taxesE.All of the above are includedDifficulty level: MediumTopic: OPERATING CASH FLOWType: CONCEPTS capital spending is equal to: additions to net working capital.B.the net change in fixed assets. income plus depreciation.D.total cash flow to stockholders less interest and dividends paid.E.the change in total assets.Difficulty level: MediumTopic: NET CAPITAL SPENDINGType: CONCEPTS47.Cash flow to stockholders is defined as:A.interest payments.B.repurchases of equity less cash dividends paid plus new equity sold.C.cash flow from financing less cash flow to creditors.D.cash dividends plus repurchases of equity minus new equity financing.E.None of the above.Difficulty level: MediumTopic: CASH FLOW TO STOCKHOLDERSType: CONCEPTS48.Free cash flow is:A.without cost to the firm. income plus taxes.C.an increase in net working capital.D.cash that the firm is free to distribute to creditors and stockholders.E.None of the above.Difficulty level: MediumTopic: FREE CASH FLOWType: CONCEPTS49.The cash flow of the firm must be equal to:A.cash flow to stockholders minus cash flow to debtholders.B.cash flow to debtholders minus cash flow to stockholders.C.cash flow to governments plus cash flow to stockholders.D.cash flow to stockholders plus cash flow to debtholders.E.None of the above.Difficulty level: MediumTopic: CASH FLOWType: CONCEPTS50.Which of the following are all components of the statement of cash flows?A.Cash flow from operating activities, cash flow from investing activities, and cash flow from financing activitiesB.Cash flow from operating activities, cash flow from investing activities, and cash flow from divesting activitiesC.Cash flow from internal activities, cash flow from external activities, and cash flow from financing activitiesD.Cash flow from brokering activities, cash flow from profitable activities, and cash flow from non-profitable activitiesE.None of the above.Difficulty level: MediumTopic: STATEMENT OF CASH FLOWSType: CONCEPTS51.One of the reasons why cash flow analysis is popular is because:A.cash flows are more subjective than net income.B.cash flows are hard to understand.C.it is easy to manipulate, or spin the cash flows.D.it is difficult to manipulate, or spin the cash flows.E.None of the above.Difficulty level: MediumTopic: CASH FLOW MANAGEMENTType: CONCEPTS52.A firm has $300 in inventory, $600 in fixed assets, $200 in accounts receivable, $100 in accounts payable, and $50 in cash. What is the amount of the current assets?A.$500B.$550C.$600D.$1,150E.$1,200Current assets = $300 + $200 + $50 = $550Difficulty level: MediumTopic: CURRENT ASSETSType: PROBLEMS53.Total assets are $900, fixed assets are $600, long-term debt is $500, and short-term debt is $200. What is the amount of net working capital?A.$0B.$100C.$200D.$300E.$400Net working capital = $900 - $600 - $200 = $100Difficulty level: MediumTopic: NET WORKING CAPITALType: PROBLEMS54.Brad's Company has equipment with a book value of $500 that could be sold today at a 50% discount. Its inventory is valued at $400 and could be sold to a competitor for that amount. The firm has $50 in cash and customers owe it $300. What is the accounting value of its liquid assets?A.$50B.$350C.$700D.$750E.$1,000Liquid assets = $400 + $50 + $300 = $750Difficulty level: MediumTopic: LIQUIDITYType: PROBLEMS55.Martha's Enterprises spent $2,400 to purchase equipment three years ago. This equipment is currently valued at $1,800 on today's balance sheet but could actually be sold for $2,000. Net working capital is $200 and long-term debt is $800. Assuming the equipment is the firm's only fixed asset, what is the book value of shareholders' equity?A.$200B.$800C.$1,200D.$1,400E.The answer cannot be determined from the information providedBook value of shareholders' equity = $1,800 + $200 - $800 = $1,200Difficulty level: MediumTopic: BOOK VALUEType: PROBLEMS56.Art's Boutique has sales of $640,000 and costs of $480,000. Interest expense is $40,000 and depreciation is $60,000. The tax rate is 34%. What is the net income?A.$20,400B.$39,600C.$50,400D.$79,600E.$99,600Taxable income = $640,000 - $480,000 - $40,000 - $60,000 = $60,000; Tax= .34($60,000) = $20,400; Net income = $60,000 - $20,400 = $39,600Difficulty level: MediumTopic: NET INCOMEType: PROBLEMS57.Given the tax rates as shown, what is the average tax rate for a firm with taxable income of $126,500?A.21.38%B.23.88%C.25.76%D.34.64%E.39.00%Tax = .15($50,000) + .25($25,000) + .34($25,000) + .39($126,500 - $100,000) = $32,585; Average tax rate = $32,585 $126,500 = .2576 = 25.76%Difficulty level: MediumTopic: MARGINAL TAX RATEType: PROBLEMS58.The tax rates are as shown. Your firm currently has taxable income of $79,400. How much additional tax will you owe if you increase your taxable income by $21,000?A.$7,004B.$7,014C.$7,140D.$7,160E.$7,174Additional tax = .34($100,000 - $79,400) + .39($79,400 + $21,000 - $100,000) = $7,160Difficulty level: MediumTopic: TAXESType: PROBLEMS59.Your firm has net income of $198 on total sales of $1,200. Costs are $715 and depreciation is $145. The tax rate is 34%. The firm does not have interest expenses. What is the operating cash flow?A.$93B.$241C.$340D.$383E.$485Earnings before interest and taxes = $1,200 - $715 - $145 = $340; Tax = [$198 (1- .34)] - $198 = $102; Operating cash flow = $340 + $145 - $102 = $383Difficulty level: MediumTopic: OPERATING CASH FLOWType: PROBLEMS60.Teddy's Pillows has beginning net fixed assets of $480 and ending net fixed assets of $530. Assets valued at $300 were sold during the year. Depreciation was $40. What is the amount of capital spending?A.$10B.$50C.$90D.$260E.$390Net capital spending = $530 - $480 + $40 = $90Difficulty level: MediumTopic: NET CAPITAL SPENDINGType: PROBLEMS61.At the beginning of the year, a firm has current assets of $380 and current liabilitiesof $210. At the end of the year, the current assets are $410 and the current liabilities are $250. What is the change in net working capital?A.-$30B.-$10C.$0D.$10E.$30Change in net working capital = ($410 - $250) - ($380 - $210) = -$10Difficulty level: MediumTopic: CHANGE IN NET WORKING CAPITALType: PROBLEMS62.At the beginning of the year, long-term debt of a firm is $280 and total debt is $340. At the end of the year, long-term debt is $260 and total debt is $350. The interest paid is $30. What is the amount of the cash flow to creditors?A.-$50B.-$20C.$20D.$30E.$50Cash flow to creditors = $30 - ($260 - $280) = $50Difficulty level: MediumTopic: CASH FLOW TO CREDITORSType: PROBLEMS63.Pete's Boats has beginning long-term debt of $ and ending long-term debt of $210. The beginning and ending total debt balances are $340 and $360, respectively. The interest paid is $20. What is the amount of the cash flow to creditors?A.-$10B.$0C.$10D.$40E.$50Cash flow to creditors = $20 - ($210 - $) = -$10Difficulty level: MediumTopic: CASH FLOW TO CREDITORSType: PROBLEMS64.Peggy Grey's Cookies has net income of $360. The firm pays out 40% of the net income to its shareholders as dividends. During the year, the company sold $80 worth of common stock. What is the cash flow to stockholders?A.$64B.$136C.$144D.$224E.$296Cash flow to stockholders = .40($360) - $80 = $64Difficulty level: MediumTopic: CASH FLOW TO STOCKHOLDERSType: PROBLEMS65.Thompson's Jet Skis has operating cash flow of $218. Depreciation is $45 and interest paid is $35. A net total of $69 was paid on long-term debt. The firm spent $ on fixed assets and increased net working capital by $38. What is the amount of the cash flow to stockholders?A.-$104B.-$28C.$28D.$114E.$142Cash flow of the firm = $218 - $38 - $ = $0; Cash flow to creditors = $35 - (-$69) = $104; Cash flow to stockholders = $0 - $104 = -$104Difficulty level: MediumTopic: CASH FLOW TO STOCKHOLDERSType: PROBLEMS66.What is the change in the net working capital from 2007 to 2008?A.$1,235B.$1,C.$1,335D.$3,405E.$4,740Change in net working capital = ($7,310 - $2,570) - ($6,225 - $2,820) = $1,335Difficulty level: MediumTopic: CHANGE IN NET WORKING CAPITALType: PROBLEMS67.What is the amount of the non-cash expenses for 2008?A.$570B.$630C.$845D.$1,370E.$2,000The non-cash expense is depreciation in the amount of $1,370.Difficulty level: MediumTopic: NONCASH EXPENSESType: PROBLEMS68.What is the amount of the net capital spending for 2008?A.-$290B.$795C.$1,080D.$1,660E.$2,165Net capital spending = $10,670 - $10,960 + $1,370 = $1,080Difficulty level: MediumTopic: NET CAPITAL SPENDINGType: PROBLEMS69.What is the operating cash flow for 2008?A.$845B.$1,930C.$2,215D.$2,845E.$3,060Operating cash flow = $1,930 + $1,370 - $455 = $2,845Difficulty level: MediumTopic: OPERATING CASH FLOWType: PROBLEMS70.What is the cash flow of the firm for 2008?A.$430B.$485C.$1,340D.$2,590E.$3,100Operating cash flow = $1,930 + $1,370 - $455 = $2,845; Change in net working capital = ($7,310 - $2,570) - ($6,225 - $2,820) = $1,335; Net capital spending = $10,670 -$10,960 + $1,370 = $1,080; Cash flow of the firm = $2,845 - $1,335 - $1,080 = $430Difficulty level: MediumTopic: CASH FLOW OF THE FIRMType: PROBLEMS71.What is the amount of net new borrowing for 2008?A.-$225B.-$25C.$0D.$25E.$225Net new borrowing = $8,100 - $7,875 = $225Difficulty level: MediumTopic: NET NEW BORROWINGType: PROBLEMS72.What is the cash flow to creditors for 2008?A.-$405B.-$225C.$225D.$405E.$630Cash flow to creditors = $630 - ($8,100 - $7,875) = $405Difficulty level: MediumTopic: CASH FLOW TO CREDITORSType: PROBLEMS73.What is the net working capital for 2008?A.$345B.$405C.$805D.$812E.$1,005Net working capital = $75 + $502 + $640 - $405 = $812Difficulty level: MediumTopic: NET WORKING CAPITALType: PROBLEMS74.What is the change in net working capital from 2007 to 2008?A.-$93B.-$7C.$7D.$85E.$97Change in net working capital = ($75 + $502 + $640 - $405) - ($70 + $563 + $662 - $390) = -$93Difficulty level: MediumTopic: CHANGE IN NET WORKING CAPITALType: PROBLEMS75.What is net capital spending for 2008?A.-$250B.-$57C.$0D.$57E.$477Net capital spending = $1,413 - $1,680 + $210 = -$57Difficulty level: MediumTopic: NET CAPITAL SPENDINGType: PROBLEMS76.What is the operating cash flow for 2008?A.$143B.$297C.$325D.$353E.$367Earnings before interest and taxes = $785 - $460 - $210 = $115; Taxable income = $115 - $35 = $80; Taxes = .35($80) = $28; Operating cash flow = $115 + $210 - $28 = $297Difficulty level: MediumTopic: OPERATING CASH FLOWType: PROBLEMS。

三大国际高中课程体系AlevelIBAP该如何选择

三大国际高中课程体系AlevelIBAP该如何选择三大国际高中课程体系(A-level/IB/AP）该如何选择？对于许多期望孩子高中毕业就出国留学的学生家长们来说，孩子在高中阶段是选择学习A-level课程，还是IB课程，还是近两年刚引进的AP课程，变成了一件令人颇为头痛的事情。

下面，启文教育将这三种课程做一个详细介绍，希望帮助到各位家长们来提前了解这些课程。

1. 入读英语国家大学的敲门砖——A-level证书A-level证书，是英国中学生进入英国大学的敲门砖。

早在1951年，英国就在全国范围内正式推广启用Alevel课程教育体系。

人们熟知的剑桥大学国际考试委员会(CIE)，就是作为Alevel课程教育体系的六大组织管理机构之一(其余五个机构是the AQA, OCR, Edexcel, the WelshJoint Education Committee 和 the CCEA)，负责Al-evel各类课程、考试管理以及证书的颁发。

历经近60年的发展完善，该教育体系已获国际教育界特别是英联邦国家的广泛认可，被誉为“金牌教育体系”。

在英国中学生教育的最后阶段(即高中最后两年)的课程，就是普通教育高级水准课程(General Certificate ofEducation Advanced Level)，简称A -evel课程。

A-level课程有60多门可供学生选择，按照学科来划分，包括英国语言和文学、数学、物理、生物、化学、历史、地理、经济学、艺术与设计、现代外语、商学和计算机等经典或新兴学科。

学生可根据自己的兴趣、特长以及将来大学就读的专业和今后的职业发展方向，选择攻读其中的3至4门课程。

在两年课程的头一年里，学生学习的课程称为AS课程，后一年学习的课程称为A2课程，一门课程两年里取得的综合成绩即是这门A-level 课程的最终成绩。

英语国家大学会依据学生几门A-level课程的最终成绩来决定是否最终正式录取。

(完整版)新概念2Summarywriting答案

新概念2摘要写作答案Lesson 1The writer went to the theatre last week.He did't enjoy the play.A young man and a young woman were sitting behind him.They were talking loudly.The writer couldn't hear the actors.He turned round.He said he couldn't hear a word.The young man said,'This is a private conversation!'.(53 words)Lesson 2The writer always gets up late on Sundays.He got up late last Sunday.His aunt telephoned then.She had just arrived by train.She was coming to see him.He said,'I am still having breakfast'.His aunt was surprised.It was one o'clock.(45 words)Lesson 3Postcards always spoil the writer's holidays.He spent his holiday in Italy last summer.He tought about postcards every day.He didn't send any cards to his friends.He bought thirty-seven cards on the last day.He staied at home all day.He didn't write any cards.(47 words)Lesson 4The writer has just received a letter from his brother,Tim.Tim is an engineer.He has been in Australia for six months.He has already visited many places.He is in Alice Springs now.Tim has never been abroad before.He is enjoying his trip very much.(48 words)Lesson 5Mr.Scott has opened his second garage in Pinhurst.His first garage is in Silbury.Silbure is five miles away from Pinhurst.Mr.Scott can't get a telephone for his new garage.He has just bought twelve pigeons.They carry messages from one garage to the other in three minutes.(48 words)Lesson 6The writer has just moved to a house in Bridge Street.A beggar knocked at her door yesterday.He sang songs.The writer gave him a meal and a glass of beer in return for this.The beggar's name is Percy Buttons.He calls at every house once a month.(50 words)Lesson 7Detectives were waiting at the airport all morning.They were expecting a valuable parcel of diamonds from South Africa.Two men took the parcel of the plane.Two detectives opened it.The parcel was full of stones and sand.(39 words)Lesson 8Joe Sanders has the best garden in town.He wins 'The Nicest Garden Competition'each year.Bill has a fine garden.Joe's is better.The writer's garden is terrible.He always win a little prize for the competition.(37 words)Lesson 9We went to the Town Hall on New Year's Eve.There were a lot of people there.The Town Hall clock will strike twelve in twenty minutes.At five to twelve,it stopped.It refused to welcome the New Year.The crowd began to laugh and sing.Lesson 10We own an old clavichord.It was made in 1681.My grandfather bought the instrument many years ago.A visitor damaged it recently.She tried to play jazz on it.She broke two of the strings.My father's friend is repairing it now.(45 words)Lesson 11I was having dinner at a restaurant.I see Tony Steele after a while.He always borrows money from his friends.Tony sat at my table.I asked him to lend me twenty pounds.He gave me the money at once.He wanted me to pay for his dinner.(49 words)Lesson 12We'll meet Captain Charles Alison at Portsmouth Harbour eary tomorrow moring.He will be in his small boat,Topsail.He will leave at eight o'clock.We'll say goodbye to him.He will take part in an importantrace across the Atlantic.(40 words)Lesson 13The Greenwood Boys are singers.They will be coming here tomorrow.Most of the young people will be meeting them at the station.They will gave five peiformances.The police will be trying to keep order as usual.(38 words)Lesson 14The writer gave a lift to a young man in the south of France last year.They greated each other in French.The writer doesn't speak any French.They sat in silence.The young man said,'Do you speak English?' at the end of the journey.He was English himself.(49 words)Lesson 15Mr.Harmsworth wanted see me.I felt nervous.I went into his office.He said business was very bad.The firm couldn't pay such large salaries.Twenty people had already left.He didn't ask me to leave.He offered me an extra thousand pounds a year!(47 words)Lesson 16Traffic police usually give you a ticket if you park your car in the wrong place.The writer found a polite note on his car in Sweden.The traffic policeman wanted him to pay attention to their street sighs.Everyone can't fail to obey a request like this.(48 words)Lesson 17My aunt Jennifer is an actress.She is over thirty years old.She often appears on the stage as a young girl.Jennifer will act the part of a girl of seventeen in a new play soon.She never tells anyone how old she really is.(46 words)Lesson 18The writer had lunch at a village pub.She couldn't find her bag after her meal.She couldn't pay the bill.The landlord soon found it for her.His dog had taken it into the garden.(36 words)The play was going to begin at any moment.I asked for two tickets.There were none left.Susan and I were disappointted.A man hurried to the ticket office just then.He returned two tickets.They were for next Wednesday's performance.I bought them.(45 words)Lesson 20Fishing is the writer's favourite sport.Some unlucky fisherman catch old boots and rubbish.The writer isn't not so lucky.He never catches anything.He isn't really interested in fishing.He is only interested in sitting in a boat and doing nothing at all. (44 words)Lesson 21The writer is slowly going mad.He lives near an airport.Passing planes can be heard night and day.Most of his neighbours have left their homes.He has been offered money to leave.He determined to stay here.Everyone says he must be mad.They are probably right.(49 words)Lesson 22Jane crossed the Channel last year.She threw a bottle into the sea.It contains a piece of paper with her name and address on it.She received a letter from a girl in Holland ten months later.They write to each other regularly now.They send their letters by post. (50 words)Lesson 23My sister will come to England next year.If she comes,she will get a surprise.I have a new house in the country.I have invited my sister to star with me.It is a very modern house.It has get many large rooms and a lovely garden. (48 words)Lesson 24I had just lost fifty pounds.I felt very upset.I told the manager about it.He couldn't do anything.He began complain about this wicked world.A girl came in with the money just then.She had found it outside my room.There is still some honesty in this world. (51 words)Lesson 25I arrived at a railway station in London and asked a porter the way to my hotel,but he couldn’t understand me. He understood me at last but I cou ldn’t understand his answer. My teacher never spoke English like that. The porter said I shall learn English soon.. Each person speaks a different language in England. They understand each other but I don’t understand them.(67 words)Lesson 26The writer studies art and paints a lot of pictures. Many people don’t really understand modern art. Paintings don’t always have a meaning. They are something pretty patterns. Young children not only appreciate modern paintings better than others,but noticed more als o. The writer’s young sister went into his room yesterday and examined his new picture. He had hung it upside down and she noticed this immediately.(67 words)Lesson 27The boys put up their tent in the middle of a flied and cooked over an open fire. They told stories and sang songs after their meal but it began to rain so they crept into their tent. The boys woke up in the middle of the night. The tent was full of water so they rushed outside. A stream had formed in the field and flowed right under their tent.(68 words)Lesson 28‘No Parking’ signs but they haven’t paid any attention to them. He has put an ugly stone head over the gate. It is Medusa’s head. He wants her to turn cars and their owners to stone but she hasn’t done so yet. (62 words)Lesson 29Captain Ben Fawcett has bought a small Swiss aeroplane and uses it as a taxi. It is called a ‘Pilatus Porter’ . It can not only carry seven passen gers, but can land anywhere also. Captain Fawcett has taken passengers to many strange places. He refused to fly a businessman to Rockall. The journey was too dangerous.(56 words)Lesson 30The writer sat by the river last Sunday. Some children were playing games nearby. One of the children kicked a ball hard and it went towards a passing boat. The man in the boat neither saw theball nor heard people shouting. The ball hit the man and the children all ran away. However, the man wasn’t angry and threw the ball back to the bank.(67 words)Lesson 31Frank Hawkins was telling me about his experiences as a young man. Frank used to work in a small shop as a boy. He used to repair bicycles there. He bought his own shop in 1958 and made spare parts for aeroplanes in his twenties. He employed a lot of people in a few years. His wife came into the room after a while. She wanted him to repair their grandson’s bicycle.(76 words)Lesson 32A detective watched a well-dressed woman in a large store one Monday. She bought a few small articles and then chose an expensive dress. The assistant wrapped it up for her and the woman took it with her. She didn’t pay for it so the detective arrested her. The shop assistant was her daughter. She gave her mother a free dress once a week.(66 words)Lesson 33The girl set out from the coast one afternoon and was caught in a storm. Her boat struck a rock so she jumped into the sea. She swam eight miles that night. She reached the shore early next morning. She had seen a light ahead high up on the cliffs and she climbed up. She found herself in hospital a day later.Lesson 34Dan Robinson was worried. He had received a letter from the local police. He went to the station yesterday. He isn’t worried anymore. The police had found his bicy cle. Dan was not only surprised, but amused as well. His bicycle was stolen twenty years ago. He was a boy of fifteen then.(53 words)Lesson 35Roy is finding his new job as a bus driver exciting. He saw two thieves in Catford Street recently. They were running out of a shop and Roy drove his bus straight at the thieves, so they dropped the stolen money and got into a car.Roy drove his bus into the back of it. He telephoned the police after this. Both men were arrested later.(67 words)Lesson 36Debbie Hart is going to swim across the English Channel tomorrow. She is eleven years old and is a strongbe waiting on the English coast. She swam the Channel as a girl.(48 words)Lesson 37The Olympic Games will be held in our country in four years’ time so the government will be putting up new buildings. Kurt Gunter has designed the buildings and workers will have completed the new stadium by the end of next year. The Games will be held in this country for the first time and we are looking forward to them.(66 words)Lesson 38The writer’s friend,Harrison, had spent many years in the Mediterranean but he wanted to retire in England so he bought a house. The summer that year was very bad and he complained about the weather. Harrison not only sold the house in the end , but also left the country.(50 words)Lesson 39lington refused to tell his patient ,John Gilbert whether his operation had been successful. The patient telephoned lington next day and he inquired about a certain patient,a Mr.John Gilbert.The doctor answered a number of questions about the patients and asked whether the caller was a relative then. The caller then told him who he was.(58 words)Lesson 40The writer sat next to Mrs. Rumbold at the dinner party. He tried to make conversation but she was busy eating. He talked about the new play at ‘The Globe’and the holidays.She answered his questions briefly. Then he asked if she was en joying her dinner and she answered,‘If you ate more and talked less,we would both enjoy our dinner.’(67 words)Lesson 41The wirter’s wife was trying on a hat and he didn’t like it. He sat down and waited for her.Then they began arguing again.He had bough t a terrible tie the day before but his wife didn’t like it. He said,‘A man can never have too many ties.’ His wife used exactly the same argument and she bought the hat. It looked likea lighthouse.(67 words)Lesson 42We watched a snake charmer in a square in Old Delhi. He had a long pipe and two large baskets. He played a tune and the snake in one of the baskets rose to follow the movements of the pipe. Then the snake charmer played modern tunes but the snake continued to dance slowly. It didn’t know th e difference between Indian music and jazz.(64 words)Lesson 43In 1929,the American explorer ,R.E.Byrd became the first man to fly over the South Pole. He took a lot of photographs during the flight but then ran into difficulties. His plane couldn’t get over the mountains so he orded his men to throw out two heavy food sacks. The plane then flew over the mountains and continued without further trouble.(63 words)Lesson 44Two men tried to steal Mrs.Sterling’s handbag. She was having a picnic at the time. They took the bag after a struggle and ran through the trees. She ran after them and caught up with them. The men had sat down and were going through the contents of the bag. Mrs.Sterling ran straight at them so they dropped the bag and ran away.(66 words)Lesson 45The local buther,Sam Benton,was taking his savings to the post office but he lost his wallet. Sam not only received half his money three months later,but received a note as well.The note said:‘A thief,yes,but only 50 per cent a thief!’ The thief included a note every time he sent Sam more money. The last note said: ‘I am 100 per cent honest now!’(68 words)Lesson 46The plane from London arrived at Sydney airport and workers unloaded a number of wooden boxes. They contained clothing. One of the boxes was extremely heavy so a worker opened it. He found a man on top of a pile of woolen goods. The man was arrested. He had travelled in the box from London. He had to pay 3,500 pounds. An ordinary tickets costs 2,000 pounds.(65 words)Lesson 47Mr. Ian Thompson bought a public house recently but it is haunted,so he is going to sale it. There was a strange noise in the bar one night and the room was in disorder next morning. Mr. Thompson found five empty whisky bottles. He doesn’t believe that some vi llagers broke into the bar and had a drink. Anybody in the village doesn’t want to the pub.(68 words)Lesson 48The dentist in the story had pulled out one of the writer’s teeth and had told him to rest for a while. He asked several questions but the writ er couldn’t answer them. His mouth was full of cotton wool. He suddenly discovered something wrong but he couldn’t say anything. The dentist eventually removed the cotton wool from his mouth and the writer told him he had pulled out the wrong tooth.(72 words)49A young man in Teheran bought a real bed for the first time in his life. He slept on the roof of his house because the weather was hot. Three nights later, the bed was swept off the roof during a storm. The man was not only unhurt but still on his mattress. As the bed was in pieces, he carried his mattress indoors and after he had put it on the floor he went back to sleep50The writer wanted to go to Woodford Green but as he did not know the way, the conductor promised to tell him where to get off. When they arrived at the bus terminus, the writer asked if they were at Woodford Green. The conductor then realized that he had forgotten to put him off. The writer stayed on the bus because it was going back.51Hugh is so fat that he has gone on a diet. He has forbidden himself all the foods he likes but he has not lostweight. When the writer visited him yesterday, he hid a large parcel under his desk. The parcel contained chocolates and sweets. Hugh said that he had to reward himself occasionally because his diet was so strict.The writer has been trying to get his new room in order all morning. This has proved difficult because he owns over a thousand books which cover every inch of floor space at the moment. His sister helped him to carry one of his old bookcases up the stairs a short while ago. She got a surprise when she saw the room, but she thought that the books made a pretty carpet.53Now that firemen have put out a big forest fire in California, they have been trying to discover its cause. There was no evidence that it was started by broken glass or a cigarette end. However a fireman has just solved the mystery. He noticed the remains of a snake which had been dropped by a bird on to some electric wires. In winding itself round the wires, the snake had sent sparks to the ground and this caused the fire.54As soon as the writer returned home from the shops she began to make some meat pies. When the telephone rang soon afterwards, her fingers were very sticky. She spent ten minutes talking to Helen Bates on the telephone. After that she looked at the mess she had made. Her fingers, the telephone and the doorknobs were covered with pastry. Just then the postman rang the doorbell. He wanted her to sign for a registered letter.55‘The Revealer’is a new machine which is used for detecting buried gold. Using this machine, a search party recently tried to find gold in a cave near the seashore. Although they examined the cave thoroughly they only found a small gold coin which was practically worthless. However many people believe that the machine may reveal56A lot of old cars entered for the race, which is held once a year. A great many loud explosions could be heard when they set off and though many cars broke down during the race, a few managed to complete the course. The winning car went downhill so quickly that its driver had a lot of difficulty trying to stop it.57Though the woman in jeans hesitated for a moment, she entered an expensive shop and asked to see a dress that was in the window. On being told by an assistant that the dress was sold, the woman returned the following morning dressed in a fur coat. The assistant was eager to serve her this time. After making him bring her almost everything in the window, the woman finally bought the dress she had first asked for.58The number of visitors to the village of Frinley has increased because there is said to be a‘cursed tree’ near the church. Since the villagers believe that if anyone picks a leaf he will die, they have asked the vicar to have the tree cut down. As the tree is a useful source of income, the vicar has refused to have the tree cut down. Meanwhile, though tourists have been picking leaves, not one of them has come to harm.59Our dog, Rex, used to sit outside the front gate and bark so that someone would open it. Ever since my husband trained him to open the gate himself, Rex has developed another bad habit. He barks when he is in the garden so that someone will let him out. After this he lets himself in and barks until someone opens the gate again. Now that my husband has removed the gate, Rex has disappeared.60The writer visited a fortune-teller at a village fair who told him that a relation was coming to see him. She added that a woman he knew well would speak to him when he left the tent and he would follow her out of the fair. This came true because his wife spoke to him when he went outside. She told him they had toWhen the Hubble telescope was launched into space in April 1990, the pictures it sent us were very disappointing because the main mirror was faulty. Four astronauts will soon be making the necessary repairs, and eventually, pictures from the Hubble will tell us a great deal about the age and size of the universe.62It took the firemen nearly three weeks to get the forest fire under control. Now that all the great trees had been burnt, there was danger that heavy rain would cause serious floods which would destroy the surrounding villages. To prevent this, the forest authorities ordered grass-seed which was sprayed over the ground by planes for nearly a month. By the time that it began to rain, the grass had taken root in many places.63When Jeremy Hampden, who is greatly admired for his great sense of humour, was invited to make a speech at a wedding reception, he immediately agreed to do so. Since the speech contained a lot of funny stories, it was a great success. When his six-year-old daughter, Jenny, wanted to go home after his speech, Jeremy was disappointed. She had not enjoyed it because she did not like to see so many people laughing at him.64The tunnel, which the French engineer, Aimé Thomé, planned to build under the English Channel in 1858, would be ventilated by tall chimneys built above sea level. An Englishman, William Lowe, suggested a better plan two years later. Passing trains would solve the problem of ventilation in his proposed double railwaytunnel because they would draw in fresh air behind them. Though work began forty-two years later, it was stopped because the British feared invasion. However, the tunnel was officially opened on March 7, 1994.65After having decided to take some presents to a children's hospital, the circus owner, Jimmy Gates, dressed up as Father Christmas and set off down the main street of the city riding an elephant called Jumbo. On being told that he was holding up the traffic, Jimmy agreed to go at once but Jumbo refused to move, so fifteen policemen had to push him off the main street. As he had a good record, however, Jumbo was not arrested.66The Lancaster bomber was not too badly damaged when it crashed on a remote island in the South Pacific. Then the wreck remained undisturbed for twenty-six years until it was rediscovered in an aerial survey of the island. The French authorities had the plane packaged and moved in parts back to France, where a group of enthusiasts will be having it restored. They will have to have three of the engines rebuilt, but the fourth engine is still in perfect condition because a colony of bees had turned it into a hive and it was totally covered in beeswax.67Tazieff, the Polish scientist, went to Lake Kivu in the Congo in 1948 to observe a new volcano which he called Kituro. After taking photographs, he had to leave almost at once because a river of liquid rock threatened to surround him. He escaped just in time but he returned two days later when the volcano had become quiet. This time he climbed into the mouth of Kituro in order to take photographs and measure temperatures.68Even though Elizabeth tried to avoid meeting Nigel Dykes, she was not able to do so. As he alwaysinsisted on accompanying her, she had to think of a way of preventing him from following her around all morning. When she told him she was going to the dentist, he said he would come with her because there was always plenty to read in the waiting room.69Mr. Eames had driven successfully through heavy traffic during his third driving test when the examiner instructed him to drive out of town. He told him to suppose that a child would suddenly cross the road in front of him. Mr. Eames would have to stop the car within five feet when the examiner tapped on the window. Though he tapped loudly, Mr. Eames did not react quickly enough and was told that he had just killed the child.70A drunk suddenly wandered into the middle of the ring during a bullfight and shouted rude remarks and waved a red cap. Ignoring the matador, the bull charged at the drunk, but he stepped aside to let it pass. The crowd cheered and the drunk bowed. Just after this, three men dragged the drunk to safety while the bull looked on sympathetically before it once more turned its attention to the matador.71After the Houses of Parliament were burnt down in 1834, Sir Benjamin Hall was made responsible for the construction of a huge clock, which became known as Big Ben. It is very accurate despite its immense size, for officials from the Greenwich Observatory have the clock checked twice a day. This clock, which has rarely gone wrong, can be heard on the B. B. C. When it is striking, because microphones are connected to the clock tower.72Sir Malcolm Campbell set up a land-speed record in 1935 driving a car called Bluebird, which had been specially built for him. His average speed was incorrectly declared to be 299 miles per hour, but this mistake was corrected later. He had averaged 301 miles an hour. Years later, his son, Donald, also broke a record and his car was also called Bluebird.73A boy who played truant travelled 1, 600 miles. He hitchhiked to Dover where he slept in a boat, only to find himself in Calais the next morning. A lorry driver gave him a lift and something to eat, and the boy got off near Paris. He stopped another car but, instead of being taken to Paris, he was taken to Perpignan on the French-Spanish border. After being picked up by a policeman, he was sent home by the local authorities.74After an ancient bus had stopped by a dry river bed, a party of famous film stars descended. They were dressed in dark glasses and old clothes so as not to be recognized. Two of the actors carried some picnic things to a shady spot and everyone sat down. Just then a sheriff arrived and told them rudely that they must leave because camping was not allowed. Even when they told him who they were, he did not believe them.75A plane crashed in the mountains, but the only passengers, a young woman and her two baby daughters, were not hurt. It was midwinter and extremely cold, so the woman put the children in a case, covered them with clothes and kept close to them all night. When she heard planes early next morning, she stamped out SOS in the snow. This was seen by a pilot, who sent a radio message, and they were soon rescued by a helicopter.76To end the special news bulletin, the television announcer showed viewers the macaroni fields of Calabria,whole village has been working hard, gathering and threshing the crop before the September rains. The crop is processed in the local factory. After the harvest, the famous Calabrian macaroni-eating competition, which Signor Fratelli has won every year since 1991. will take place. That ended the news bulletin for April 1st .Lesson 77（1）Doctors have just operated on the mummy of an Egyptian woman who died in 800 BC. They wanted to find out whether she died of a rare disease. After removing a section of the mummy, they sent it to a laboratory. During the operation, they unexpectedly found a small wax figure of a god. Though they were afraid the mummy would fall to pieces, it successfully survived the operation. (69 words,)（2）Doctors have just operated on the mummy of an Egyptian woman who died in 800 B.C., in order to find out if she died of a rare disease. They removed a section of the mummy, which they sent to a laboratory. Inside the mummy, they unexpectedly found a small wax figure of a god. They were afraid the mummy would fall to pieces, but it survived the operation. (69 words)Lesson 78(1) Having read an article on smoking, the writer smoked his last cigarette. He did not smoke for a week and his wife suffered because he had a bad temper and a large appetite. Meanwhile friends offered him cigarettes and were amused to see him produce a packet of sweets from Iris pocket. When he went to a party, he accepted a cigarette which he was offered by a friend and since then things have returned to normal. (77 words)(2) The writer read an article on smoking and smoked his last cigarette. He did not smoke for a week and his wife suffered because of her husband's bad temper and large appetite. Whenever his friends offered him cigarettes, they were amused because he would produce a packet of sweets from his pocket. However, at a party he accepted a cigarette from a friend. Now things have returned to normal. (69 words)Lesson 79（1）The plane took off and flew low over the city. When it was slowly gaining height, it suddenly had to return to the airport. Meanwhile the passengers were told to keep calm, After they had disembarked, they learnt that there was a very important person on board. Someone had told the police that a bomb had been planted on the plane, but though it was searched, nothing was found. Five hours later, it took off again. (76 words)（2）After having taken off, the plane flew low over file city. Although it was slowly gaining height, it had to return to the airport. During this time, the passengers were told to keep calm until they had disembarked. Later they learnt that there was a very important person on board. Because the police had been told that a bomb had been planted on the plane, it was searched. However, nothing was found, so five hours later it took off again. (80 words)Lesson 80(1) The Crystal Palace, which was built for the Great Exhibition of 1851, was different from other buildings because it was made of iron and glass. Goods from various parts of the world were on display as well as a great deal of machinery. So many visitors came by boat and train that it was possible to build colleges and museums from the profits. After the exhibition, the Crystal Palace was moved to South London, where it remained until it was burnt down in 1936. (84 words)(2) The Crystal palace was built for the Great Exhibition of 1851. Made of iron and glass, it was different from other buildings, There were not only goods from various parts of the world on display but there was a。

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A level AP IB 经济学 Economics 历年Essay真题完美打印Chapter 1 essay(学生练习版)

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金融学双语第二章课后习题2.5. Suppose you invest in a real-estate development deal. The total investment is $100,000. You invest $20,000 of your own money and borrow the other $80,000 from the bank. Who bears the risk of this venture and why?The $20,000 of my own money is considered the equity capital and the $80,000 is debt financing. In general it is the equity investors who absorb the primary risk of business failure. This is because if the business goes bankrupt, I will unlikely get any or my money back as the debt holders get paid back before I do. However, the debt holder also faces some risk that it will not even get back all its principal and interest. So lenders do share some of the business risk along with the equity investors.2.6. Give an example of how the problem of moral hazard might prevent you from getting financing for something you want to do. Can you think of a way of overcoming this problem?SAMPLE ANSWER:Suppose I want to start a biotechnology business and I need a lot of financing. The trouble is, I do not want to disclose my technology secrets to potential equity and debt investors. I will have great difficulty raising financing. But I could do the following: At a minimum, I could require all potential lenders and investors to sign agreements saying they will not disclose any of my secrets. Secondly, I could share some of my equity with potential lenders (equity-kickers) and investors (stock and stock options). At least that way they will not be motivated to disclose my secrets to others. Finally, if I decided I did not want to share secrets, I could give collateral in my new plant to the debt lenders and that might make them more comfortable with the issue ofmoral hazard.2.7. Give an example of how the problem of adverse selection might prevent you from getting financing for something you want to do. Can you think of a way of overcoming this problem?SAMPLE ANSWER:Suppose I want to start a car leasing business. Initially my plan was to purchase several automobiles and lease them out at attractive annual rates. However, potential lenders were worried that my business would attract individuals who drive great distances each year. Rather than buy their own car and lose significant value, they would lease my cars and take a new one each year. I would not be able to obtain financing for this business until I instituted annual mileage restrictions. This alteration in the business plan was enough to make the lenders comfortable with the potential problem of adverse selection.。

u校园新视野大学英语2读写第六单元英语作文

u校园新视野大学英语2读写第六单元英语作文Manufacturers are those enterprises engaged in the research and development and production or manufacturing of products, including a wide variety of companies engaged in the mining, extraction, processing, planting and assembly of products. As the producer of products and brand owners, manufacturers are considered as the source of marketing channels, and often occupy a dominant position in the marketing channels, and often play the role of "channel leader".Manufacturers' products cover a wide range of aircraft, artillery, large machines, medium to consumer goods, small to screws, needles, wires, and buttons. The size of the manufacturers also varies greatly, some with only a few people, and others with tens of thousands of employees and billions of annual sales. Although the difference is big, they have one thing in common: they both produce various products and create brands for the market, and they are the initiators of distribution.To meet the market demand, manufacturers must somehow let their products into the target market, however,due to the lack of corresponding resources (people, money, material), professional skills, or not economic in scale, most manufacturers cannot effectively sell their products directly to all consumers or users in the target market.If the sales are delivered to other channel members, such as wholesalers and retailers, the manufacturer will save a lot of fixed costs that it must invest in the sales. The middleman can operate the products of many other manufacturers at the same time, and gain scale benefits of product sales through functional specialization and sales scale.As can be seen from the above analysis, manufacturers can achieve the best scale in production, but it is often uneconomical to sell directly. Therefore, according to the idea of social division of labor, the manufacturers have objective needs for the services of middlemen, and the dependence on middlemen is inevitable.In conclusion, the main advantage and responsibility of manufacturers is to produce the product and create the brand, and the rest of the distribution work should be left to a professional distribution agency.翻译：制造商是指那些从事产品研发及生产或制造的企业，包括各种各样从事采掘、提取、加工、种植和组装产品的公司。

ib经济 15分大题范文

ib经济15分大题范文IB经济15分大题是国际文凭课程（IB）经济学科的重要组成部分，占总分值的25%，因此掌握解题技巧至关重要。

以下是一些建议和策略，以帮助您在这部分取得高分。

1.分析题目类型在开始解答之前，首先要了解题目的类型。

IB经济大题通常分为以下几种：a.数据解释题：分析给定数据的含义和趋势。

b.理论应用题：将经济理论应用于实际情境。

c.分析题：考察对经济现象和政策的理解。

d.论述题：阐述个人观点，支持论据和分析。

2.搜集和整理相关信息根据题目要求，搜集和整理相关资料。

这可能包括：a.课本知识点b.课外阅读材料c.课堂笔记d.互联网资源3.构建分析框架根据题目类型和已收集的信息，构建一个清晰的分析框架。

例如：a.数据解释题：描述数据变化趋势，分析影响因素。

b.理论应用题：阐述理论原理，结合题目情境进行解释。

c.分析题：分析现象背后的原因，提出合理的解释。

d.论述题：明确立场，列举支持论据，进行逻辑论证。

4.撰写文章主体按照分析框架，开始撰写文章。

注意以下几点：a.结构清晰：段落划分合理，层次分明。

b.语言精准：避免使用模糊词汇，如“大概”、“差不多”等。

c.举例说明：恰当运用实例，强化论点。

d.逻辑严密：论证过程条理清楚，避免跳跃性思维。

5.结论和总结在文章结尾部分，对分析结果进行总结，并提出建议。

同时，检查文章是否达到了题目要求。

6.注意事项a.仔细阅读题目，确保理解正确。

b.按时完成作业，避免拖延。

c.多练习不同类型的题目，提高解题能力。

7.推荐资源a.课本：掌握基本知识点，了解学科体系。

b.课外阅读：扩展知识面，提高分析能力。

c.在线课程：学习解题技巧，参与讨论，获取实时反馈。

通过以上策略和注意事项，相信您在IB经济15分大题中取得高分的愿望一定能够实现。

写英语作文第二卷答案

写英语作文第二卷答案IntroductionWriting an English essay can be a daunting task, especially when you're aiming for high-quality output. Volume II of our guide delves deeper into the nuances of essay writing, offering advanced strategies to refine your skills and produce compelling compositions.1. Understanding the AssignmentBefore you begin writing, it's crucial to understand the essay prompt thoroughly. Ask yourself:- What is the central question or topic?- Are there specific requirements or constraints?- What type of essay is expected (argumentative, narrative, expository)?2. Advanced Research Techniques- Utilize Scholarly Databases: Access platforms like JSTOR or Google Scholar for credible sources.- Evaluate Sources: Ensure the information is from reputable sources and is up-to-date.- Note-Taking: Keep track of your research with detailed notes to avoid plagiarism and to organize your thoughts.3. Outlining and Structure- Create a Detailed Outline: Before writing, develop a comprehensive outline that includes all main points and subpoints.- Use the PEE Structure: Practice the Point, Evidence, Explanation method to structure your paragraphs effectively.4. Crafting an Engaging Thesis Statement- Be Specific: Avoid vague statements; your thesis should clearly state your position or argument.- Be Arguable: A good thesis is one that can be supported with evidence and is open to discussion.5. Writing the Body Paragraphs- Topic Sentence: Each paragraph should begin with a clear topic sentence that outlines the main idea.- Evidence and Analysis: Follow with evidence from your research and analyze its relevance to your thesis.6. Refining Your Argument- Counterarguments: Address potential counterarguments to strengthen your essay's credibility.- Consistency: Ensure that all arguments support your thesis and are consistent with your overall message.7. Concluding Your Essay- Restate Your Thesis: Summarize your main points withoutrepeating the introduction verbatim.- Reflect on Implications: Discuss the broader significance of your findings or arguments.8. Editing and Proofreading- Grammar and Spelling: Use tools like Grammarly to catch errors you might have missed.- Coherence and Flow: Read your essay aloud to check for smooth transitions and logical flow.9. Formatting and Citations- Follow Guidelines: Adhere to the required citation style (APA, MLA, etc.) and formatting rules.- Consistency in Formatting: Ensure that headings, fonts, and margins are consistent throughout the essay.10. Final Tips- Set Aside Time for Revision: Don't wait until the last minute to revise your essay.- Peer Review: Have a classmate or friend read your essay for a fresh perspective.ConclusionMastering the art of essay writing is an ongoing process. Volume II provides advanced strategies to help you elevate your writing skills. Remember, practice is key, and each essay you write is an opportunity to improve.About the Author[Your Name], a seasoned English educator, is dedicated to helping students excel in their writing endeavors. With years of experience in guiding students through the complexities of essay writing, [Your Name] continues to provide valuable insights and strategies in this two-part series.。

2023年高考英语新课标II卷写作真题及答案

2023年高考英语新课标II卷写作真题及答案Introduction2023年高考英语新课标II卷写作真题及答案的题目引入，本文将全面介绍该套试卷的写作部分的题目以及标准答案，旨在帮助考生更好地了解写作要求并提高写作能力。

Task 1: Letter Writing题目：某英语学习网站最近推出了面向学生的在线英语口语练习课程，请你根据以下要点给网站编辑写一封信，内容包括：1. 表达对课程想法的赞赏；2. 推荐课程所具有的优点；3. 提供建议以进一步改善课程。

Dear Editor,I am writing to express my appreciation for the recent launch of the online English speaking practice course on your English learning website. It has greatly benefited me and I would like to recommend it to other students as well.First and foremost, I want to commend the course for its effectiveness. The interactive sessions with native speakers have significantly enhanced my English speaking skills. The course offers a variety of topics, which makes learning both engaging and informative. Additionally, the flexibilityof scheduling the sessions at my convenience is highly convenient for busy students like me.Furthermore, I would like to offer a few suggestions to further improve the course. Firstly, it would be beneficial to provide more opportunities for students to practice speaking in group settings. This can foster a collaborative learning environment and encourage peer interaction. Secondly, incorporating more real-life scenarios and practical situations into the course content can better prepare students for real-world English communication. Finally, it would be helpful to have regular progress assessments to enable students to track their improvement and identify areas for further development.In conclusion, I once again want to express my appreciation for the online English speaking practice course and its positive impact on my language learning journey. With the addition of the suggested improvements, this course has the potential to be even more beneficial for students in the future. Thank you for your attention and I look forward to seeing further enhancements to the course.Yours sincerely,[Your Name]Task 2: Essay Writing题目：经济全球化对世界各国的影响请就经济全球化对世界各国产生的影响，从经济、文化和社会三个方面，谈谈你的看法。