Chapter 5 Questions
商务英语Chapter 5
Three The Main Contents of Business Negotiation
Ⅰ.Etiquette and taboo in China 1.Appearance Conservative suits for men with subtle colors are the norm while women should avoid high heels and short sleeved blouses. The Chinese frown on women who display too much. Subtle， neutral colors should be worn by both men and women. Jeans are not acceptable for business meetings. Revealing clothing for women is considered offensive to Chinese businessmen.
Chapter Five The Etiquette and Taboo of Business Negotiation
Learning Focus学习要点
1 .Learn the conception of business etiquette and taboo. 记住商务礼仪和禁忌的概念。 2. Get to know deeply the importance of business etiquette and taboo. 加深对商务礼仪重要性的理解。 3. Master the main content of etiquette and taboo in business negotiation. 掌握商务英语谈判礼仪和禁忌的主要内容。 4. Comprehend correctly the differences of etiquette and taboo in different countries. 准确把握不同国家商务礼仪和禁忌的差异。 5. Read the text extension freely. 熟读拓展课文。
《雾都孤儿》阅读思考题参考答案和梗概范文
Level 4 Oliver Twist <Answer Key>Chapter 1Preview questions1.I think Oliver was born into a poor family.2.I think Oliver will ask for some food.3.I think Oliver’s first job will be working on a farm.Review questions1.Poor people with no jobs lived in workhouses.2.Mr. Bumble, the beadle, gave Oliver his name.3.The board decided to give the people in workhouses less food because they thought people in workhouseswere getting too much food, and that by giving them less, they would leave the workhouse and find jobs. I do not think it is right to starve people by giving them less food. It is better to give them education and training to help them find jobs.Chapter 2Preview questions1.I would not like to sleep in a room full of coffins because I would be very scared.2.I think Oliver will not stay with Mr. Sowerberry, because at Mr. Sowerberry’s house he had to eat dogfood and sleep in a room full of coffins.3.I think it is not good to give money to beggars. It is better to give money to charity organizations that canhelp the beggars.Review questions1.Oliver hit Noah Claypole because Noah said bad things about his mother.2.The beadle explained Oliver’s behavior by saying the Sowerberry’s had given Oliver too much good foodwhich had made Oliver believe he was someone special.3.It took Oliver seven days to walk to London.Chapter 3Preview questions1.I think Oliver is in danger because he is all alone in the big city of London.2.I think the Artful Dodger made friends with Oliver because he is a friendly boy and he could see thatOliver needed some help.3.I think Fagin will look after Oliver by giving him food and a place to sleep, but he will also take advantageof Oliver.Review questions11.The Artful Dodger and Charley Bates did not make things. They stole wallets and handkerchiefs frompeople in the street.2.The man at the bookshop was sitting outside reading a book.3.The people chased Oliver because they thought he was the thief.Chapter 4Preview questions1.I think the lady in the picture is Oliver’s mother.2.I think Fagin will be very angry about Oliver’s disappearance, and will blame the Artful Dodger andCharley Bates.3.I think Fagin will find Oliver and will take him back to the dirty house.Review questions1.Nancy found out what had happened to Oliver by pretending to be his sister and asking questions abouthim at the police station.2.Mr. Grimwig did not really think Oliver was a bad boy. He just liked to argue with his friend.3.Fagin found out which house Oliver was in when the man who had bought Oliver’s old clothes hadshowed them to Fagin.Chapter 5Preview questions1.I think Mr. Brownlow will try to find Oliver, but Fagin will play a trick so that Mr. Brownlow cannot findhim.2.I think Nancy will try to help Oliver because she feels sorry for him.3.It could be right to steal something from a bad person if it would help a good person.Review questions1.To try and get Oliver back, Mr. Brownlow put a notice in the newspaper saying he would pay five poundsto anyone with information about Oliver.2.Mr. Bumble told Mr. Brownlow that Oliver was a bad boy. He said his parents were criminals, he wasnever happy with what he had, and he ran away after trying to murder a man who was kind to him.3.Sikes needed Oliver to help him because Sikes needed a small boy to get into the house through a window,and open the door to let Sikes in.Chapter 6Preview questions1.Sikes will not use his gun on Oliver because he needs Oliver to get into the house for him.22.I think Oliver will agree to help Sikes burgle the house because he will be very scared that Sikes will shoothim.3.I think the burglary will be successful.Review questions1.When Oliver got into the house, he planned to wake the people living there and tell them thieves weretrying to steal from them.2.Oliver was bleeding because he got pulled through a broken window.3.Mr. Bumble kissed Mrs. Corney.Chapter 7Preview questions1.I think Oliver will be sick for a long time and Bill Sikes will try to leave him in a workhouse.2.I think when Fagin hears that the burglary failed; he will be very angry and try to kill Bill Sikes.3.I think Mr. Bumble and Mrs. Corney will keep the gold that Old Sally had stolen from Oliver’s mother. Review questions1.Monks is Fagin’s criminal friend.2.I do not think Mr. Bumble loves Mrs. Corney. He wants to marry her because of her money.3.The servants in the house were brave because they fought back against the burglars. When they wereoutside, they were not brave. They felt frightened and decided to go back to the house.Chapter 8Preview questions1.I think the doctor will help Oliver more than the police.2.I think Oliver will get into trouble with the police because he was with a group of burglars when he gotshot.3.I don’t think you can really be a criminal when you are only ten years old. For example, Oliver is not a badperson. He had bad circumstances.Review questions1.Mr. Losberne tried to frighten and confuse Giles and Brittles by asking them angrily if they were sureOliver was the boy they had shot. He did this because he believed Oliver’s story, and wanted to help him.2.Giles did shoot someone. He shot Oliver, but he thought he hadn’t shot anyone.3.Mr. Brownlow’s house was empty because he and his housekeeper, as well as Mr. Brownlow’s friend, hadgone to the West Indies six weeks earlier.Chapter 9Preview questions1.Oliver is not safe yet. I think Fagin will come looking for him again.32.I think the two ladies in the house will try to keep Oliver.3.Happiness can last forever, but we must also feel sad sometimes.Review questions1.Oliver did not really see Fagin at the window. There were no footprints or any other evidence that Faginand the tall man had really been at the window.2.Rose said that she could not marry Harry because nobody knew how her mother and father were. Shethought this would cause trouble for Harry and make them both unhappy.3.I think Rose is right to be worried about this. However, if Harry said he loved her and didn’t care aboutthat problem, I think Rose should listen to him and marry him.Chapter 10Preview questions1.I think Mr. Bumble will not be happy when he is married because he did not marry for love.2.I think Mrs. Bumble will not tell her husband what Old Sally told her. I think she will keep the gold forherself.3.I think Mr. Bumble will meet Fagin.Review questions1.I think Mr. Bumble was not right. I think men and women should listen to each other and work together.2.Mrs. Bumble gave Monks a small bag containing a gold locket with two pieces of hair in it, and a goldwedding ring w ith a date and the word ‘Agnes’ written on it.3.Monks put a heavy stone into the little bag and then dropped it in to the river.Chapter 11Preview questions1. A man should not hit a woman. It is better to solve problems by talking about them.2.Criminals can be good to each other sometimes, if they like each other very much.3.I think Nancy will get away from Sikes by killing him.Review questions1.Sikes wanted Nancy to bring the money because he did not trust the Artful Dodger.2.Nancy knew where to find Rose because she heard Monks tell Fagin where Rose and Oliver were staying.3.Na ncy did love Sikes. She couldn’t leave him.Chapter 12Preview questions1.Noah will not become a successful criminal, because Noah is cruel and stupid.2.Mr. Brownlow will find Monks.43.I think Nancy will keep her promise to be on the bridge, and they will be able to ask her where to findMonks.Review questions1.‘Lagged’ means that a criminal will be sent to Australia as punishment for a crime.2.Fagin said the best way to look after yourself was to look after your friends. This is a good idea because ifyou help your friends, they can help you when you are in trouble.3.Mr. Brownlow wanted to meet Monks so that he could find out more about Oliver’s past.Chapter 13Preview questions1.I think the story will have a happy ending. I think Oliver will get to live with Mr. Brownlow.2.I think the police will catch Sikes and put him in jail.3.I think Harry and Rose will marry and live happily ever after.Review questions1.Mr. Brownlow knew Monks because Mr. Brownlow had been best friends with Monks’ father and hadbeen going t o marry Monks’ aunt.2.Sikes died by falling off the roof of a building and hanging himself.3.Rose was Oliver’s aunt.Level 4 Oliver Twist < Summaries >Chapter 1Oliver was born in a workhouse. Nobody knew who his father was and his mother died soon after Oliver was born. He was raised in an orphanage, where he was always hungry. When he was nine years old, he went back to the workhouse. He got even hungrier, and asked for more gruel. The board was shocked and tried to get rid of him by offering five pounds to anyone who would take him to be an apprentice. He is apprenticed to an undertaker.Chapter 25Oliver did well at the undertaker’s shop, but then g ot into a fight with a boy who said bad things about his mother. Everybody was against Oliver and he decided to run away. He went past Mrs. Mann’s house and sa id goodbye to an old friend and then walked to London. This took seven days. He met the Artful Dodger who took him to Fagin’s home, where Oliver ha d food and drink and soon fell asleep.Chapter 3Oliver saw Fagin looking at jewels in a hidden box. He thought that The Artful Dodger and Charley Bates made wallets and handkerchiefs. He spent many days working in the house unpicking marks on handkerchiefs. He saw Fagin and the boys playing a game. Finally, he is allowed to go out with them. He saw them steal a handkerchief from a gentleman. He was caught by the police, but they let him go when they realize that he did not steal the handkerchief. He became very sick, and was taken home by Mr Brownlow, the man whose handkerchief The Artful Dodger stole. He was cared for until he was better. Mr Brownlow was surprised to see that he looked exactly like a picture of a lady on the wall of his house.Chapter 4Fagin was angry because Oliver was captured by the police. He worried that Oliver would talk about him and the boys. His friend Bill Sikes arrived and they argued. Nancy went to the police station and found out what happened to Oliver. They decided they had to get him back. Oliver was looked after by Mr Brownlow and saw a picture of a lady he liked. Mr Brownlow was surprised because Oliver looked exactly like the picture. He asked Oliver to tell him his story, but a friend arrives and they had tea. They sent Oliver to the bookshop on an errand. Nancy saw him and brought him back to Fagin and the boys.Chapter 5Mr Bumble went to London and saw a notice in the newspaper. He went to see Mr Brownlow and told him how bad Oliver was, and got a five pound reward. Mr Brownlow said he did not want to hear Oliver’s name again, although Mrs Bedwin still believed that Oliver was good. Oliver was locked up by Fagin and gradually became friendlier with the boys. Sikes needed a boy to help with a burglary and Fagin said Oliver could help. Nancy brought Oliver to Sikes’s house and they went to burgle the house.Chapter 6Bill Sikes took Oliver on a long trip to a house where he met two men. One of the men went with Sikes and Oliver to break into and burgle a house. Oliver realized what they wanted him to do and decided to tell the owners of the house, rather than help the thieves. Before he could do that, the owners found him in the house and shot him. Sikes rescued him from the house and carried him away. Meanwhile, Mr Bumble went to visit the matron of the workhouse; a widow called Mrs. Corney. He kissed her, but she is called away to listen to an6old woman tell a secret. She told Mrs. Corney that she stole something gold from Oliver’s mother and that this would help Oliver discover his mother’s name.Chapter 7Toby told Fagin that the burglary failed and that they left Oliver in a ditch. Fagin was very angry and rushed out. He talked to Nancy and then to a man called Monks. They hoped that Oliver was not dead. Monks thought that he saw a woman listening to them talk. Mr Bumble decided to marry Mrs Corney. Oliver woke up and went back to the house he tried to burgle. A young lady and her aunt lived in the house and they looked after him.Chapter 8Rose and her aunt, Mrs Maylie, saw Oliver and did not believe that he was a criminal. They asked the doctor to help them save him. The doctor helped Oliver, and then he tried to frighten Giles and Brittles. He made them doubt whether this was the boy in the burglary. Two police officers arrived from London and they looked at everything and talked to everyone. The doctor saved Oliver by telling them that he was hurt in an accident and that the servants were wrong to think he was in the burglary. The police officers believed him and went away. Oliver gradually got better and the doctor took him to see Mr. Brownlow. On the way, Oliver saw the house where Sikes and Toby took him, and the doctor goes into it. It did not look the same as Oliver’s description.An angry short man shouted at the doctor and saw Oliver in the carriage. They got to London but Mr. Brownlow was not there. He had gone to the West Indies. They returned home. Mrs. Maylie and Rose took Oliver for a three month stay in the country. They were all very happy there.Chapter 9Mrs Maylie, Rose and Oliver stayed in the country until summer. Rose became ill and they thought she would die. Harry Maylie came to see her, and she got better. Oliver bumped into a strange old man at the village hotel, and later he saw him again. He was looking at Oliver through the window of the house, and Fagin was with him. He shouted for help and everybody searched for the two men, but they couldn’t find them. Harry asked Rose to marry him, but she refused. She said that she had a mark against her name because of her mother, and that she did not want to prevent Harry from being an important man. Harry left, but made Oliver promise to write to him about Rose.Chapter 10Mr Bumble was now the workhouse manager. He fought with his new wife, and she won. He was laughed at by the people in the workhouse. He met Monks and told him that he knew the woman who knew Old Sally’s secret. They arranged to meet the next night. Mrs Bumble told Monks about Sally’s death and g ave him a locket and a wedding ring that she got from the pawnbroker after Sally died. Monks threw the items in the river.7Chapter 11Bill Sikes was sick, and Nancy looked after him. Fagin and the boys brought him some food. Nancy listened to a conversation between Fagin and Monks, and decided to visit Rose Maylie. She told her that Monks was Oliver’s brother. She promise d to be on London Bridge every Sunday between eleven and twelve o’clock. Oliver found Mr. Brownlow, who agreed to help Rose and the doctor find out about Oliver’s parents. They decided to talk to Nancy. Noah Claypole and Charlotte stole money from Mr Sowerberry and ran away to London. Fagin found them and said he would help them become criminals.Chapter 12Fagin began to teach Noah how to be a criminal. The police caught The Artful Dodger and he went to court. Nancy tried to go to London Bridge on Sunday night, but Sikes locked her up and stopped her. Fagin thought Nancy had a new friend and told Noah to follow her and find out who he was. He follows her to London Bridge and listened to her meeting with Rose and Mr. Brownlow. Mr. Brownlow wanted to talk to Monks. Nancy described him to Mr Brownlow. He thought he knew the man. Noah ran back and told Fagin what he heard.Chapter 13Fagin told Sikes what Nancy did. Sikes was so angry that he murdered Nancy and ran away. The police took Fagin to jail. Sikes returned to London and tried to hide with some old friends. The police found him and he accidentally killed himself while trying to escape. Fagin was hanged. Mr. Brownlow found Monks and made him tell the truth. Oliver was Monks’s half brother, and should have a lot of money. Monks tried to keep it a secret. Mr. Brownlow was Monks’ father’s friend, so he kn ew the story. They discovered that Rose was Oliver’s aunt. Harry Maylie marrie d Rose, and they all lived happily ever after.8。
词汇学Chapter 5 补充练习
I. Choose the best answer and put the letter of your choice in the brackets.1. The minimal meaningful units are known as _____.A. morphsB. stemsC. morphemesD. roots2. The word ‘shortenings’ contains _____ morphemes.A. threeB. fourC. fiveD. six3. Morphemes are abstract units, which are realized in speech by discrete units known as _____.A. morphsB. phonemesC. lexemesD. allomorphs4. Words like cat, dog, tree and so on are called ______ words.A. stemB. polysemousC. polymorphemicD. monomorphemic5. Free morphemes are the same as _____ words.A. clippedB. stemC. nativeD. root6. In the word “contradiction”, the morpheme “-dict-“ is _____.A. a free rootB. a bound rootC. an affixD. a free morpheme7. In the word “international”, “nation” is not a _____.A. free morphemeB. stemC. bound morphemeD. free root8. A bound morpheme has to combine with other _____ to make words.A. morphemesB. allomorphsC. phonemesD. Lexemes9. Bound morphemes are chiefly found in _____ words.A. derivedB. convertedC. inflectionalD. compound10. _____ affixes can be further divided into prefixes and suffixes.A. InflectionalB. BoundC. DerivationalD. Converted11. A _____ is a form to which affixes of any kind can be added.A. rootB. morphC. morphemeD. stem12. The word _____ contain an inflectional affix.A. workerB. happierC. formalD. enrichII. Complete the following statements with proper words or expressions given in the course book.1. A _____ is not the smallest unit because many words can be separated into even smaller meaningful units.2. The plural morpheme has a number of _____ in different sound context.3. There is no _____ morpheme in the word “dictation”.4. Free morphemes and free _____are identical.5. Affixes added to other morphemes to create new words are called _____ affixes.6. The word “internationalists” has _____ morphemes.7. According to the _____ of affixes, we can put them into two groups: inflectional and derivational affixes.8. Bound morphemes include two types: bound root and _____.III. Decide whether the following statements are true or false.1. Morphemes which cannot occur as separate words are bound.2. Inflectional morphemes indicate grammatical relationships.3. Free morphemes can be used as words alone.4. What remains of a word after the removal of all affixes is a stem.5. A word is the minimal meaningful unit of a language.6. The word “prisoners” has two morphemes.7. There is an inflectional morpheme in the word “easier”.8. Free morphemes are also known as free roots.IV. Answer the following questions.1. What are the differences between a bound morpheme and a bound root? V. Analyze and comment on the following.1. Analyze the morphological structures of the following words.Point out the types of morphemes.prediction strawberries encouragement。
罗宾斯管理学课后习题(英文版)--Chapter 5 Quiz
Chapter 5 QuizThis activity contains 40 questions.1.Implementation is merely conveying the decision to those affected. TrueFalse2. __________ is/are necessary to initiate the decision process to eliminate discrepancies; otherwise, the problem can be put off.A. PressureB. CriteriaC. StandardD. WeightE. Alternatives3. A manager chooses among three alternatives for advertising (billboards, radio, and newspapers) based on research indicating success in sales for the three alternatives. This is a decision under:A. conditions of certaintyB. goal orientationC. conditions of uncertaintyD. constant preferencesE. conditions of risk4. A manager has no idea what alternatives are available for new computer support systems and does not know how she can determine this information. This is a decision under:A. constant preferencesB. conditions of uncertaintyC. conditions of certaintyD. conditions of riskE. clear preferences5. A manager who determines that cost, speed, and enlarging capability are relevant to his decision to purchase a new photocopy machine is an example of the _______________ phase of the decision-making process.A. identifying the problemB. identifying decision criteriaC. formulating a problemD. allocating weights to the criteriaE. developing alternatives6. A manager with a degree of tolerance for ambiguity, but who want lots of information and considers many alternatives before deciding, is exhibiting a/an ____ style of decision making.A. analyticB. behaviouralC. problem seekingD. conceptualE. Directive7.A problem is a discrepancy between an existing and desired state of affairs.TrueFalse8. Many organizational situations involve ___________, that are new and unusual.A. satisficing decisionsB. groupthinkC. non-structured problemsD. non-routine decisionsE. non-programmed decisions9. Behavioural style decision makers:A. have a low tolerance for ambiguity, are very rational and efficient in their decision stylesB. want information, tolerate ambiguity, and are careful decision makersC. work well with others, are concerned about the achievement of others, and often use meetings to make decisions while trying to avoid conflictD. take a broad outlook, examine many different alternatives, and focus on the long runE. have a high tolerance for ambiguity and an intuitive way of thinking10. Bill and Bob are brainstorming possible solutions to a staffing problem. They are writing their ideas down without assessing their practicality or ability. Bill and Bob are at what stage in the decision-making process?A. developing alternativesB. setting decision criteriaC. choosing an alternative solutionD. allocating weights to the criteriaE. analyzing alternatives11. Bounded rationality is:A. behaviour that is rational but limited by an individual's ability to process informationB. the withholding by group members of different views in order to appear in agreementC. conveying a decision to those affected and getting their commitment to itD. an explicit statement that tells managers what they ought or ought not to doE. an unconscious process of making decisions12. Decision making is a simple act of choosing among alternatives.TrueFalse13.Decision making is important for only two management functions: planning and leading.TrueFalse14. Decision making is synonymous with managing.TrueFalse15. Decision making is:A. a set of seven stepsB. a comprehensive processC. highly overstated in importance.D. simply choosing among alternativesE. only discussed with reference to individuals16. Decisions that are routine are called:A. standard decisionsB. non-programmed decisionsC. well-structured problemsD. programmed decisionsE. ill-structured problems17. Each alternative in the decision-making process is evaluated by appraising it against the criteria.TrueFalse18.Evaluating the decision may cause managers to return to an earlier step in the decision process.TrueFalse19.Programmed decisions mean that the manager doesn't have to go through an involved decision process.TrueFalse20. Managers must determine what is relevant when making a decision. TrueFalse21. Mary can repair a saw at Quality Production Inc. in two hours while it takes Mike five hours to make repairs. Assuming that both workers are present, the manager will always choose Mary to make repairs to the saws. This is a decision under:A. problem clarityB. conditions of riskC. conditions of certaintyD. conditions of uncertaintyE. no cost constraints22. Most decisions that managers face meet all the tests of rationality. TrueFalse23. Not every decision maker possesses criteria that guide his or her decision.TrueFalse24. One manager's "problem" may be another manager's satisfactory state of affairs.TrueFalse25. One survey in your text revealed that almost __________ of managers emphasized "gut feeling" over cognitive problem solving and decision making.A. one-tenthB. two-thirdsC. halfD. one quarterE. one-third26. People with a low tolerance for ambiguity, but who are logical and efficient have a/an _________ decision-making style:A. analyticB. creativeC. behaviouralD. conceptualE. directive27. Policies, procedures, and rules are developed to help managers deal with:A. bounded rationalityB. non-programmed decisionsC. structured problemsD. satisficingE. groupthink28. Problem identification is a relatively simple and insignificant step in the decision making process.TrueFalse29. Some discrepancies may not be considered problems because there is no pressure to take action to correct the situation.TrueFalse30. The control mechanism in the decision-making process is:A. in the selection of alternativesB. when you evaluate the decision's effectivenessC. at the time of setting criteria weightsD. when you identify the problemE. in the implementation stage of decision making31. The decision-making process is designed for individual decision making rather than group decision making.TrueFalse32. Escalation of commitment describes increasing commitment to a decision in view of evidence it might be _________.A. wrongB. intuitiveC. wiseD. hastyE. correct33. The manager of a retail clothing store just found out that some "name brand" merchandise was brought into the Canada illegally. This is an example of:A. an unstructured problemB. A programmed decisionC. a procedureD. a structured problemE. satisficing34. The question: How many employees should I have report directly to me? is related to the __________ management function.A. motivatingB. organizingC. planningD. leadingE. controlling35. Accepting decisions that are "good enough" isA. analyzingB. acceptingC. evaluatingD. intuitiveE. satisficing36. Allocating weights to criteria is part of the ________ process.A. pay off matrixB. decision makingC. evaluationD. alternative analysisE. regret matrix37. The following are examples of _____________in decision making: overconfidence, selective perception, hindsightA. intuitionB. representationC. heuristicsD. rules of thumbE. biases and error38. When facing a situation of uncertainty, the decision-maker has:A. some certainty, with limited probability estimatesB. little certainty but some probability estimatesC. good certainty, but no probability estimatesD. neither certainty, nor probability estimatesE. A fair amount of certainty, but no probability estimates39. Effective decision makers _____________A. rely on rules of thumbB. are analyticalC. are quick thinkingD. are well likedE. practice the five whys40. Which of the following statements is one of the assumptions of rationality:A. Preferences are constant and inconsistent.B. A single set of well-defined goals is to be achieved.C. Time and cost constraints exist.D. Options are clear.E. The problem is clear and unambiguous.。
Chapter_5_Syntax_句法(练习答案)_doc
Chapter 5 Syntax 句法I. Multiple Choices:1.D. Immediate Constituent2. B. semantic3. A. concord4. A. the future is not expressed by morphological change5. D. substitutability6. C. co-occurrence7. B. Predicate 8.B. syntactic 9. C. self-control10. D. Government 11. D. coordinateII. Fill in the blanks with the most suitable words:1. Cohesion refers to ties and connections which exist within texts. They are also called formal links between sentences and between clauses.2. A sentence structure that is made up of layers of word groups is called a hierarchical structure.3. Sentences are traditionally assumed to be made up of words in _linear___ direction.4. Provide linguistic terms for the following descriptions.1) a type of relation holding with each other at aparticular place in a structure:2) an operation that moves a phrase category from its original position generated byPS rules to another within a structure: transformation3) the branch of linguistics which studies the rules governing the combination ofwords into sentences: syntaxIII. Decide whether the following statements are true or false. Write T for true and F for false in the bracket before each of them:T 1. It is characteristic of Halliday’s theory that more attention is paid to paradigmatic relations than to syntagmatic relations, which is the main concern of Chomsky.F2. Tense and aspect are two important categories of the verb, and they were separated in traditional grammar. (they were not separated in traditional grammar)F 3. Paradigmatic relation in syntax is alternatively called horizontal relation.(Paradigmatic relation is also called vertical relation; horizontal relation is a term for syntagmatic relation.)T 4. All human languages utilize a finite set of discrete units to form an infinite set of possible sentences.F 5. The English sentence "If only I could fly!" is in imperative mood. subjunctivemoodF 6. GOVERNMENT may be defined as the requirement that the form of two or morewords in a syntactic relationship should agree with each other. concordT 7. The SYNTAGMATIC RELATION is a relation between one item and others in a sequence, or between elements which are all present.T 8. The deep structure may be defined the abstract representation of the syntactic properties of a construction, i.e. the underlying level of structural relations between its different constituents, such as the relation between the underlying subject and its verbs, or a verb and its object.F 9. Categorization is the process of classifying our experiences into same categoriesbased on commonalities and differences. As a major ingredient in the creation of human knowledge, it allows us to relate present experiences to past ones.different categoriesF 10. The syntagmatic relation is also known as vertical relation. horizontal relationF 11. "Singing an English song" is an exocentric construction. endocentricconstructionT 12. Single words and clauses can both be constituents.IV. Define the following terms:1. IC analysisIC analysis. IC analysis (immediate constituent analysis) refers to the analysis of a sentence in terms of its immediate constituents ---- word groups ( or phrases), which are in turn analyzed into the immediate constituents of their own, and the process goes on until the ultimate constituents are reached. In practice, for the sake of convenience, we usually stop at the level of word.2. paradigmatic relationparadigmatic relation: Saussure originally called associative, is a relation holding between elements replaceable with each other at a particular place in a structure, or between one element present and the others absent.3. Lexical ambiguityLexical ambiguity: It refers to ambiguity explained by reference to lexical meanings. For example, “I went to the bank” is lexically ambiguous in the sense that “bank” in this sentence could refer to a business establishment or a slop of landing adjoining a river.4. Grammatical ambiguityGrammatical ambiguity: Grammatical ambiguity occurs when the grammatical structure of a sentence allows two different interpretations, each of which gives rise toa different meaning.5. Concord (or: Agreement)Concord (or: Agreement) could be defined as the requirement that the forms of two or more words in a syntactic relationship should agree with each other in terms of some categories. For example, in English the determiner and the noun it precedes should concord in number as in “this man”, “these men”; “book”, “same books”.6. endocentric constructionEndocentric construction is one kind of syntactic constructions whose distribution is functionally equivalent to that of one or more of its constituents, i.e., a word or a group of words, which serves as a definable centre or head. An endocentric construction is also known as a headed construction, for example, in the noun phrase “all these last few days”, days is the head. And this phrase is an endocentric construction.V. Questions:1. What is the aim of IC analysis? Make an IC analysis of the following sentence bymeans of either brackets or a tree diagram.北外2010My brother said Mary liked the handbag.The aim of IC analysis is to discover and demonstrate the interrelationships of the words in a linguistic structure—the sentence or the word-combination. The IC analysis views the sentence not just as a linear sequence of elements but as sequence made up of “layers”of immediate constituents, each lower-level constituent being part of a higher-level constituent.Though IC analysis, the internal structure of a sentence may be demonstrated clearly and ambiguities, if any, will be revealed.We can analyze the sentence like this:SNP VPVSˈNP VPN V NPDet N Det NMy mother said Mary liked the handbag. OrMy mother said Mary liked the handbag. 2. Why did Chomsky make the distinction between Deep and Surface structures?人大2006In generative grammar, deep structure is the abstract syntactic representation of a sentence, the underlying level of structural organization which specifies all the factors governing the way the sentence should be interpreted. On the other hand, surface structure is the final stage in the syntactic representation of a sentence, which provides the input to the phonological component of the grammar, and which thus most closely corresponds to the structure we articulate and hear.According to Chomsky, it is necessary to make the distinction, since it is helpful to differentiate and analyze syntactic structures such as "John is easy to please" and"John is eager to please", and also to disambiguate structures like "the shooting of the hunters". More importantly, it reflects two of the stages of how the language is processed through the generative grammar: the deep structure, which is an underlying structure, has to be transformed to the surface structure via a set of transformational rules.3.Try to identify the possible paradigmatic relation between any items in thefollowing poem by Lu Xun (i.e. tell if there is such a relation between which and which items).岂有豪情似旧时，花开花落两由之。
国际财务管理课后习题答案chapter-5
CHAPTER 5 THE MARKET FOR FOREIGN EXCHANGESUGGESTED ANSWERS AND SOLUTIONS TO END-OF—CHAPTERQUESTIONS AND PROBLEMSQUESTIONS1。
Give a full definition of the market for foreign exchange。
Answer： Broadly defined， the foreign exchange (FX) market encompasses the conversion of purchasing power from one currency into another，bank deposits of foreign currency, the extension of credit denominated in a foreign currency，foreign trade financing, and trading in foreign currency options and futures contracts。
2。
What is the difference between the retail or client market and the wholesale or interbank market for foreign exchange?Answer：The market for foreign exchange can be viewed as a two—tier market. One tier is the wholesale or interbank market and the other tier is the retail or client market. International banks provide the core of the FX market. They stand willing to buy or sell foreign currency for their own account。
Chapter 5 Questions V1
How to Value Bonds5.1What is the present value of a 10-year, pure discount bond paying $1,000 at maturity if theappropriate interest rate is:a. 5 percent?b.10 percent?c.15 percent?5.2Microhard has issued a bond with the following characteristics:Principal: $1,000Time to maturity: 20 yearsCoupon rate: 8 percent, compounded semiannuallySemiannual paymentsCalculate the price of this bond if the stated annual interest rate, compounded semiannually, is:a.8%b.10%c.6%5.3Consider a bond with a face value of $1,000. The coupon payment is made semiannually and theyield on the bond is 12% (effective annual yield). How much would you pay for the bond ifa.the coupon rate is eight percent and the remaining time to maturity is 20 years?b.the coupon rate is 10 percent and the remaining time to maturity is 15 years?5.4Jay’s Trucking, Inc. has issued an eight percent, 20-year bond paying interest semiannually. Thebond has a face value of $1,000. If the yield on the bond is 10 percent (effective annual yield),what is the price of the bond?5.5 A bond is sold at $923.14 (below its par value of $1,000). The bond matures in 15 years and has a10-percent yield, expressed as a stated annual interest rate, compounded semiannually. What isthe coupon rate on the bond if the coupon is paid semiannually? The next payment occurs sixmonths from today.5.6You have just purchased a newly-issued $1,000 five-year Vanguard Company bond at par. Thisfive-year bond pays $60 in interest semiannually. You are also considering the purchase ofanother Vanguard Company bond that pays $30 in semiannual interest payments and has six years remaining before maturity. This bond has a face value of $1,000.a.What is the yield on the five-year bond (expressed as an effective annual yield)?b.Assume that the five-year bond and the six-year bond have the same yield. What shouldyou be willing to pay for the six-year bond?c.How will your answer in part (b) change if the five-year bond pays $40 in semiannualinterest instead of $60? Assume that the five-year bond paying $40 semiannually ispurchased at par.Bond Concepts5.7Consider two bonds, A and B. The coupon rates are 10 percent and the face values are $1,000 forboth bonds. Both bonds have annual coupons. Bond A has 20 years to maturity while bond B has10 years to maturity.a.What are the prices of the two bonds if the relevant market interest rate for both bonds is10 percent?b.If the market interest rate increases to 12 percent, what will be the prices of the two bonds?c.If the market interest rate decreases to eight percent, what will be the prices of the twobonds?5.8a. If the market interest rate unexpectedly increases, what would be the effect on the pricesof long-term bonds? Why?b. How would a rise in the interest rate affect the general level of stock prices? Why?5.9Consider a bond paying an annual coupon of $80 with a face value of $1,000. Calculate the yieldto maturity if the bond hasa.20 years remaining to maturity and is priced at $1,200.b.10 years remaining to maturity and is priced at $950.5.10HexCorp Inc. has two different bonds currently outstanding. Bond A has a face value of $40,000and matures in 20 years. The bond makes no payments for the first six years, pays $2,000semiannually for the subsequent eight years, and finally pays $2,500 semiannually for the last sixyears. Bond B also has a face value of $40,000 and matures in 20 years. However, it makes nocoupon payments over the life of the bond. If the stated annual interest rate is 12 percent,compounded semiannually,a.what is the current price of Bond A?b.what is the current price of Bond B?5.11Use the following February 11, 2002 Wall Street Journal quotation for AT&T Corp. Which of thefollowing statement are false?a.The closing price of the bond with the shortest time to maturity is $1,000.b.The annual coupon for the bond maturing in 2018 is $90.00.c.The price on the day before this quotation (February 9) for the AT&T bond maturing in2024 is $1,075 per bond contract.d.The current yield on the AT&T bond maturing in 2004 is 7.125 percent.e.The AT&T bond maturing in 2004 has a yield to maturity of less than 7.125 percent.5.12The following are selected quotations from the Wall Street Journal on Friday, April 23, 2002.Which of the following statements about Wilson’s bond are false?a.The bond maturing in 2003 has a yield to maturity greater than 6 3/8 percent.b.The closing price of the bond with the shortest time to maturity on the day before thequotation is $1,003.25.c.The annual coupon payment for the bond maturing in 2016 is $75.00.d.The current yield on the Wilson’s bond with the longest time to ma turity is 7.29 percent.e.None of the above.The Present Value of Common Stocks5.13 A common stock just paid an annual dividend of $2 yesterday. The dividend is expected to growat eight percent annually for the next three years, after which it will grow at four percent inperpetuity. The appropriate discount rate is 12 percent. What is the price of the stock?5.14Use the following February 12, 2002 Wall Street Journal quotation for Merck & Co. to answer thenext question.Which of the following statements are false?a.The dividend yield is approximately 1.6 percent.b.The closing price per share on February 10, 2002 was $113.75.c.The closing price per share on February 11, 2002 was $115.d.The earnings per share were about $3.83.5.15Examine the following stock quote for Citigroup:T he expected growth rate of Citigroup’s dividends is seven percent per year. According to theconstant-growth dividend model, what is the stock’s required return? Assume that the annualdividend of $1.30 was paid yesterday.5.16You own $100,000 worth of Smart Money stock. One year from now, you will receive a dividendof $2 per share. You will receive a $4 dividend two years from now. You will sell the stock for$50 per share three years from now. Dividends are taxed at the rate of 28 percent. Assume there is no capital gains tax. The required rate of return is 15 percent. How many shares of stock doyou own?5.17Consider the stock of Davidson Company, which will pay an annual dividend of $2 one year fromtoday. The dividend will grow at a constant annual rate of five percent, forever. The marketrequires a 12-percent return on the company’s stock.a.What is the current price of a share of the stock?b.What will the stock price be 10 years from today?5.18Scubaland, Inc., is experiencing a period of rapid growth. Earnings and dividends per share areexpected to grow at a rate of 18 percent during the next two years, 15 percent in the third year, and six percent thereafter. Yesterday, Scubaland paid a dividend of $1.15. If the required rate ofreturn on the stock is 12 percent, what is the price of a share of the stock today?5.19Calamity Mining Company’s iron ore reserves are being depleted, and its costs of recovering adeclining quantity of ore are rising each year. As a result, the company’s earnin gs are declining ata rate of 10 percent per year. If the dividend per share to be paid tomorrow is $5 and the requiredrate of return is 14 percent, what is the value of the firm’s stock? Assume that the dividendpayments are based on a fixed percentage of the firm’s earnings.5.20Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of $1 at the end of each ofthe next 12 quarters. Thereafter, the dividend will grow at a quarterly rate of 0.5 percent, forever.The appropriate rate of return on the stock is 10 percent, compounded quarterly. What is thecurrent stock price?5.21Suppose Amsterdam Foods, Inc., has just paid a dividend of $1.40 per share. Its dividend isexpected to grow at five percent per year in perpetuity. If the required return is 10 percent, what is the value of a share of Amsterdam Foods?5.22In order to buy back its own shares, Pennzoil Co. has decided to suspend its dividends for the nexttwo years. It will resume its annual cash dividend of $2.00 in year 3 and year 4. Thereafter, itsdividend payments will grow at an annual growth rate of six percent, forever. The required rate of return on Pennzoil’s stock is 16%. According to the discounted-dividend model, what shouldPennzoil’s current share price be?5.23The Webster Co. has just paid a dividend of $5.25 per share. The company will increase itsdividend by 14 percent next year. The company will then reduce its dividend growth rate by three percent each year until the dividend reaches the industry average of five percent growth. Thecompany will maintain that dividend growth rate, forever. The required rate of return for theWebster Co. is 14 percent. What is the price of the stock?Estimates of Parameters in the Dividend-Discount Model5.24Allen, Inc., is expected to pay equal dividends at the end of each of the next two years. Thereafter,the dividend will grow at a constant annual rate of four percent, forever. The current stock price is $30. What is next year’s dividend payment if the required rate of return i s 12 percent?5.25The newspaper reported last week that Bradley Enterprises earned $20 million this year. Thereport also stated that the firm’s return on equity is 14 percent. Bradley retains 60 percent of itsearnings.a.What is the firm’s earnings growt h rate?b.What will next year’s earnings be?5.26Juggernaut Satellite Corporation earned $10 million for the fiscal year ending yesterday. The firmalso paid out 25 percent of its earnings as dividends yesterday. The firm will continue to pay out25 percent of its earnings as annual, end-of-year dividends. The remaining 75 percent of earningsis retained by the company for use in projects. The company has 1.25 million shares of commonstock outstanding. The current stock price is $30. The historical return on equity (ROE) of 12percent is expected to continue in the future. What is the required rate of return on the stock?5.27Four years ago, Bling Diamond, Inc. paid a dividend of $.80 per share. Bling paid a dividend of$1.66 per share yesterday. Dividends will grow over the next five years at the same rate they grew over the last four years. Thereafter, dividends will grow at eight percent per year. The requiredreturn on the stock is 18 percent. What will Bling Diamond’s cash dividend be in seven years? Growth Opportunities5.28Rite Bite Enterprises sells toothpicks. Gross revenues last year were $3 million, and total costswere $1.5 million. Rite Bite has 1 million shares of common stock outstanding. Gross revenuesand costs are expected to grow at five percent per year. Rite Bite pays no income taxes. Allearnings are paid out as dividends.a.If the appropriate discount rate is 15 percent and all cash flows are received at year’s end,what is the price per share of Rite Bite stock?b.Rite Bite has decided to produce toothbrushes. The project requires an immediate outlayof $15 million. In one year, another outlay of $5 million will be needed. The year afterthat, net cash inflows will be $6 million. That profit level will be maintained inperpetuity. What effect will undertaking this project have on the price per share of thestock?5.29California Real Estate, Inc., expects to earn $100 million per year in perpetuity if it does notundertake any new projects. The firm has an opportunity to invest $15 million today and $5million in one year in a real estate. The new investment will generate annual earnings of $10million in perpetuity, beginning two years from today. The firm has 20 million shares of common stock outstanding, and the required rate of return on the stock is 15 percent. Land investments are not depreciable. Ignore taxes.a.What is the price of a share of stock if the firm does not undertake the new investment?b.What is the value of the investment?c.What is the per-share stock price if the firm undertakes the investment?5.30The annual earnings of Avalanche Skis Inc. will be $4.00 per share in perpetuity if the firm makesno new investments. Under such a situation, the firm would pay out all of its earnings asdividends. Assume the first dividend will be received exactly one year from now.Alternatively, assume that three years from now, and in every subsequent year in perpetuity, the company can invest 25% of its earnings in new projects. Each project will earn40% at year-end, in perpetuity. The firm’s discount rate is 14 percent.a.What is the price per share of Lewis Skis Inc. stock today without the company makingthe new investment?b.If Avalanche announces that the new investment will be made, what will the per-sharestock price be today?Price-Earnings Ratio5.31Consider Pacific Energy Company and U.S. Bluechips, Inc., both of which reported cash flows of$800,000 and have 500,000 shares of common stock outstanding. Without new projects, bothfirms will continue to generate cash flows of $800,000 in perpetuity. Assume that the cash flows are equal to earnings. Assume both firms require a 15 percent rate of return.a.Pacific Energy Company has a new project that will generate additional cash flows of$100,000 each year in perpetuity. Calculate the P/E ratio of the company.b.U.S. Bluechips has a new project that will increase cash flows by $200,000 in perpetuity.Calculate the P/E ratio of the firm.。
《金银岛》阅读思考题参考答案和梗概范文
LEVEL 3 Treasure Island< Answer Key >Chapter 1Preview questions1. Based on the title, I think this chapter will be about a guest that is not wanted coming to someone’s house.2. When people are traveling, they usually stay in hotels. They find the hotels on the Internet, or through a travel agent.3. A sailor works on a ship when it goes out to sea.Review questions1. The Captain asked the boy to watch out for a man with one leg, and to tell the captain as soon as he saw the man with one leg.2. The doctor came to the inn because the boy’s father had become ill and needed some medicine.3. The Captain was singing and making a lot of noise because he was drunk from drinking rum.Chapter 2Preview questions1. I think the man with one leg will come to the inn.2. I think the Captain won’t be pleased to see this man because the man is an old enemy of the Captain’s and wants to hurt him.3. I think the Captain will become ill because of all the rum he had been drinking.Review questions1. The Captain’s n ame was Bill.2. The name of the man with only two fingers on one hand was Black Dog.3. The Captain became ill because he had a bad heart.Chapter 3Preview questions1. I think Blind Pew is a bad person.2. I think the black spot is a small piece of black paper.3. I think the Captain is afraid of getting hurt.Review questions1. Jim’s father died.2. The blind man gave the black spot to the Captain.3. The Captain was afraid of the black spot because he thought it would hurt him.1Chapter 4Preview questions1. I think Jim and his mother leave the inn because the Captain said there were only six hours, and Jim and his mother are afraid something bad will happen at the inn after six hours.2. I think Jim will find lots of treasure in the Captain’s chest.3. I think the blind man and other men will come back to the inn because they want to find the Captain’s chest, and they think there is a clue about it at the inn.Review questions1. Jim and his mother hid under the bridge near the inn.2. The men were angry because they could not find the Captain’s map.3. The men wanted to find Jim because they thought he had the Captain’s map.Chapter 5Preview questions1. I think Pew and his friends are criminals who want to steal the map from the Captain and hurt Jim and his mother.2. I think the old captain was a rough man who did bad things, and had bad men for friends.3. I think the squire will find a treasure map wrapped in the cloth.Review questions1. The squire suggested going to go to Bristol because he could get a ship there and they could go and look for the treasure.2. Jim would work as the ship’s cabin boy.3. The doctor made the squire promise not to tell anyone about the map.Chapter 6Preview questions1. I think the squire will not keep his promise. The doctor said the squire was not good at keeping secrets, so I think he will tell some other people about the map.2. I think Long John Silver is a pirate.3. I think Long John Silver will take over the boat and take charge of the search for the treasure.Review questions1. Jim thought that the squire had told people about the map because in the letter from the squire, he told Jim that everyone was excited about the reason for the journey.2. Jim knew that Black Dog was the man at the Spy-glass Inn because he recognized his hand that was missing two fingers.23. I think Black Dog was at the Spy-glass Inn because he wanted to join the squire and Long John Silver’s crew, and search for the treasure.Chapter 7Preview questions1. I think Captain Smollet t is the captain of the squire’s ship.2. I think Captain Smollett is worried because he thinks the men in the crew are pirates and criminals.3. I think the Hispaniola will sail to the small island shown on the Captain’s map.Review questions1. Captain Smollett was worried about a mutiny, because the crew knew more about their destination and the reason for the trip than he did.2. Captain Smollett didn’t think Arrow was a good mate because he was too friendly with the crew.3. The doctor thought Long John Silver was an honest man.Chapter 8Preview questions1. I think Jim will find out that Long John Silver is a pirate, and has a plan to take all the treasure for himself.2. I think Arrow will be killed when he tries to stop Long John Silver from getting the treasure.3. I think the squire is foolish because he told so many people about the treasure map, and because he trusts everybody.Review questions1. Jim went to the apple barrel because he wanted to eat an apple.2. When Jim was at the apple barrel, he heard Long John Silver, Dick, and Israel Hands plotting to take over the ship, get the treasure, and kill the squire and Doctor Livesey.3. Long John Silver didn’t discover Jim at the apple barrel because Israel Hands sen t Dick off to get rum, rather than an apple.Chapter 9Preview questions1. I think Captain Smollett will decide where the ship should anchor.2. I think Jim must tell Doctor Livesey and the s quire about Long John Silver’s plan.3. I think Captain Smollett won’t return to Bristol bec ause Long John Silver will kill him.Review questions1. The nineteen men were planning a mutiny, and to steal the treasure.2. The squire could trust only six men.33. The safety of the squire and his men was in Jim’s hands because Jim had to find out what the mutineer’s plans were.Chapter 10Preview questions1. Captain Smollett must be careful about what he says to the crew because if the crew realizes he knows about their plan, they will mutiny right then and kill Captain Smollett.2. I think Captain S mollett wanted the guns and powder kept in his cabin because he didn’t trust the crew and thought he could prevent them from killing him by taking their guns and powder away.3. I think Ben Gunn is someone who lives on the island they are sailing to.Review questions1. Jim met a man named Ben Gunn in the forest.2. Ben Gunn told Jim the story of how he came to be stuck on Skeleton Island.3. I think Ben Gunn is important in this story because he can help Jim find the treasure and get back to land in the boat he made.Chapter 11Preview questions1. I think Jim can’t tell this part of the story because he was killed by Long John Silver and his men.2. I think Ben Gunn is a good person.3. A stockade is a barrier used for protection, like a wall or fence.Review questions1. The squire and his men took food, guns, and gunpowder from the Hispaniola.2. The squire and his men stayed in the stockade on the island.3. The mutineers had the cannon.Chapter 12Preview questions1. I think Long John Silver comes to the stockade because he wants to make a deal with the squire and his men about the treasure.2. I think Long John Silver and his men will first try to bargain with the squire and his men, and then they will kill them.3. I think Ben Gunn will help Jim, because Ben Gunn and Jim trust each other.Review questions1. Long John Silver offered to share the treasure with the squire and his men if they would give him the map.2. The captain and his men could sail the ship, but the mutineers did not know how to sail a ship.43. The situation had changed because the captain and his men were stronger than before. They had been seven men to nineteen men, but now they were four men to eight men.Chapter 13Preview questions1. I think Jim wants to go to the Hispaniola to get the map.2. I think Jim will get to the Hispaniola on the boat made by Jim Gunn.3. I think if Jim gets on board the Hispaniola, he will be in danger because Long John Silver’s men will want to kill him.Review questions1. Jim’s boat filled with wa ter and sank.2. There were two men on board the Hispaniola, Israel Hands and the man in the red cap. Israel Hands was wounded and the man in the red cap was dead.3. Jim became the captain of the ship, and then Israel Hands tried to kill him. The knife we nt through Jim’s shoulder and then into the mast of the ship.Chapter 14Preview questions1. I think Jim will pull the knife out of his shoulder and then jump into the water and go to shore.2. I think Jim will go back to the stockade and help the squire and his men defeat the mutineers and find the treasure.3. I think Long John Silver will fight the squire and his men.Review questions1. The mutineers gave Long John Silver the black spot because they did not want him to be their captain anymore.2. Jim didn’t run from the stockade with the doctor because he had promised Long John Silver he would stay, and he wanted to keep his word.3. The doctor had a secret reason for telling Long John Silver not to be in a hurry to find the treasure.Chapter 15Preview questions1. I think one of the mutineers will find a dead body with the treasure.2. I think a dead body will frighten the mutineers.3. I think the mutineers were looking for a special tree that the treasure was buried under.Review questions1. The doctor gave the map to Long John Silver because it had become useless. Ben Gunn had already found the treasure and taken it to a cave.52. The doctor wanted to get the mutineers out of the stockade so that the squire and his men could getsome stores from it.3. Long John Silver took part of the treasure and ran away. The rest of the treasure was shared between thesquire and his men, who each used it in a different way.LEVEL 3 Treasure Island < Summaries >Chapter 1Jim Hawkins lived with his father at the Admiral Benbow Inn. An old sailor came to the inn to stay there. At first he was quiet, but soon, the Captain began to drink and tell stories of men doing bad things. Jim’s father became ill and the Captain pulled a knife on the doctor when he was told to be quiet. The doctor was not afraid and got the Captain to be quiet for a few days.Chapter 2Jim’s father did not get well and Jim had to do more at the inn. One day a man came in and asked about the Captain. Jim told the stranger he was out. When the Captain came back he called the man Black Dog. They began to fight with knives. Black Dog was cut and he ran away. The Captain fainted and Jim’s mother call ed for the doctor.Chapter 3The Captain was ill and had to stay in bed. He warned Jim about Black Dog and the man with one leg. The Captain promised to give Jim a secret treasure. Jim’s father die d, then a few days later a blind man came to the inn. He gave something called the “black spot” to the Captain. A minute later, the Captain died. Jim and his mother left the inn.Chapter 4Jim and his mother ran to the next village and told people what had happened. The people knew about Captain Flint and were afraid to go back to the inn. Jim and his mother went back alone and opened the captain’s chest. They found some coins and papers. The blind man came back to the inn with some men. They looked for the papers, but ran away when they heard horses.6The men, who were smugglers, got away on a boat. The government men took Jim and the doctor to Squire Trelawney’s house. Jim show ed everyone the papers he found in the C aptain’s chest. The papers had a map to a treasure. The squire decided to hire a boat. He wanted to take the doctor and Jim to the island where the treasure was hidden. The doctor warned everyone to keep the plan a secret.Chapter 6Squire Trelawney went to the town of Bristol and bought a ship named the Hispaniola. Jim was worried because the squire had told people about the treasure. The squire hired a one-legged sailor named Long John Silver to be the ship’s cook. Long John Silver then hired the crew for the ship. When Jim got to Bristol, he saw Black Dog coming out of the inn Long John Silver owns.Chapter 7When Jim, the doctor, and Squire Trelawney got aboard the ship, they met the first mate, Arrow. The captain of the ship, a man named Smollett, wanted to talk to the squire. Captain Smollett said he did not trust the crew and that going after treasure was trouble. The captain insisted the guns and gunpowder be kept under his cabin. He was worried about a mutiny. The squire and the doctor did not agree about liking the captain.Chapter 8As they set out on their journey the ship made good time. One night, Arrow was drunk and fell off the ship. He disappeared and was replaced. The crew liked Long John Silver and he was very kind to Jim. The squire and Captain Smollett did not get along, so they stayed away from each other. One night, Jim overheard Long John Silver and some of the crew planning to mutiny as soon as the ship reached land.Chapter 9When the ship reached the island, Long John Silver told Captain Smollett he had been to the island before. He said there were once pirates on the island. Jim told the squire, the captain, and the doctor about the crew’s plan to mutiny. The three of them asked Jim to go around the ship and spy on the crew to find out what their plans are.7The captain gave the men he trusted guns. He tricked the crew into leaving the ship and going to the island. Jim sneaked off the ship too, and saw Long John Silver kill one of the good crewmen. Jim met a man named Ben Gunn, who had been stuck on the island for years. Ben told Jim he would help against the mutiny and share the treasure with the others.Chapter11While the men were off the ship, Captain Smollett and the others were thinking about leaving the bad crewmen behind. One of the s quire’s men discovered that Jim was not on the ship. The doctor went to the island to find Jim. While he was there, he found a stockade with food and water. The captain and the good crewmen decided to hide in the stockade and fight the mutineers from there.Chapter 12Jim made it to the stockade and told the others about Ben Gunn. Long John Silver tried to talk the squire and the others into joining with the mutineers. He knew Jim had the map and offered to share the treasure. When they refused, Silver became angry and threatened to kill them. Soon the mutineers attacked from all sides but they were beaten back. Many of them were killed or wounded.Chapter 13Captain Smollett was hurt during the battle. The doctor left the stockade to talk to Ben Gunn. Jim found a boat and rowed it to the Hispaniola. The weather turned rough and Jim had to climb aboard the Hispaniola to avoid drowning. Once he was on the ship, Jim discovered there was only one crewman aboard. Jim wanted to take over the ship, but the crewman tried to kill him.Chapter 14The ship had drifted to the other side of the island. Only Jim knew where it was. Jim went back to the stockade, where the mutineers had taken over. Smollett and all the others fled into the forest. The doctor gave Long John Silver the map to the treasure. The mutineers wanted to kill Jim, but John stopped them. Jim told the doctor that he knew where the Hispaniola was.8The mutineers tried to find the treasure. It was not there. Ben Gunn had taken it to his cave. The mutineers attacked Long John Silver and Jim in frustration. The doctor and his friends ambushed the mutineers from the forest. They killed all but three of the mutineers. Jim, the doctor, the squire, Silver, and Ben Gunn left the men on the island, and went back to England with the treasure.9。
计算机英语学生用书(第二版)习题答案chapter 05.
II. True or False III.Answering Questions IV. Translating Terms
Vocabulary
V. Selecting Words
Collocation Summary
• First generation—— machine language • Second generation—— assembly language • Third generation—— high-level languages • Fourth generation—— very-high-level
5. T
IIV. Exercises—Comprehension
III. Answer the following question.
1. List the five steps of programming.
1. Programming is traditionally a five-step problem-solving process. The five steps are as follows: The first step: Problem definition The second step: Program design The third step: Program coding The fourth step: Program testing The fifth step: Program documentation and maintenance
languages • Fifth generation—— natural languages
英语Chapter5《Lookitup》课件上海牛津版(共17张PPT)
exist
v live
harmless adj. not causing hurt or harm
harmful A
harm
n/v
fierce fiercer
adj. cruel fiercest
unlike
prep.
skeleton n. the bones that support the body
C. Four D. Five
12. Match the words with the people:
Confucius
inventor
Thomas Edison
thinker
Albert Einstein
doctor
Hua Tuo
cartoonist
Walt Disney
scientist
gentle skeleton
A. WTO B. APEC C. UN
D. SPCA
7. Which animals can’t be seen on earth?
A. pandas B. monkeys C. kangaroos D. dinosaurs
8. Where did people first find the dinosaur fossils(化石)？
商业银行Chapter-5-homework1
Chapter 5Multiple Choice Questions1. The noncash expense item on a bank's Report of Income designed to shelter a bank'scurrent earnings from taxes and to help prepare for bad loans is called:DA) Short-term debt interestB) Noninterest expenseC) Provision for taxesD) Provision for possible loan lossesE) None of the above.2．Banks depend heavily upon borrowed funds supplied by customers with little owners' capital invested. This means that banks make heavy use of: AA) Financial leverageB) Capital restructuringC) Operating LeverageD) Margin borrowingE) None of the above.3. Large U.S. banks must use which of the methods listed below to determine theirprovision for loan loss expense? CA) Experience methodB) Reserve methodC) Specific charge-off methodD) Historical cost methodE) None of the above.4. A bank's temporary lending of excess reserves to other banks is labeled on thebalance sheet as: BA) Fed Funds PurchasedB) Fed Funds SoldC) Money Market DepositsD) Securities Purchased for ResaleE) None of the above5. A bank sells shares of its common stock with a par value of $100 for $200 in themarket. Which two accounts on the bank's balance sheet are going to be affected?DA) Retained earnings and capital surplus accountsB) Subordinated notes and debentures and commons stock outstanding accountsC) Retained earnings and common stock outstanding accountsD) Common stock outstanding and capital surplus accountsE) Only the common stock outstanding account is affected6. A bank which starts with ALL of $1.48 million at the beginning of the year, chargesoff worthless loans of $.94 million during the year, recovers $.12 million on loans previously charged off and charges current income for a $1.02 million provision for loan losses will have an ALL at the end of the year of: BA) $.66 millionB) $3.32 millionC) $1.68 millionD) $1.28 millionE) The same amount as at the beginning of the year7. A bank that has total interest income of $67 million and total noninterest income of$14. million. This bank has total interest expenses of $35 million and totalnoninterest expenses (excluding PLL) of $28 million. Its provision for loan losses is $6 million and its taxes are $5. What is this bank's net income? AA) $7B) -$14C) $18D) $32E) None of the above8.You know the following information about the Miller State BankGross Loans $300Miscellaneous Assets $50Deposits $390Total Equity $50Common Stock Par $5NonDeposit Borrowings $60Investment Securities $150Net Premises $40Surplus $5Allowance for Loan Losses $50Deposits $390Total Assets $500Gross Premises $70Given this information, what is this firm’s Net Loan s?AA) $250B) $350C) $500D) $50E) $1509.You know the following information about the Davis National BankTotal Interest Expenses ($500)Total Non Interest Income $100Securities Gains (Losses) $ 50Income Taxes ($ 80)Dividends to Stockholders ($ 40)Total Interest Income $800Total Non Interest Expenses ($150)Provision for Loan Losses ($100)Given this information, what is this firm’s Net Income? DA) $300B) $150C) ($50)D) $120E) $8010.You know the following information about the Webb State BankAccumulated Depreciation $40Net Loans $600Fed Funds Purchased and Repurchase Agreements $200Cash and Due from Banks $50Trading Account Securities $40Miscellaneous Assets $100Deposits $500Undivided Profits $140Gross Premises $90Surplus $40Subordinated Debt $100Investment Securities $160Common Stock Par $20Gross Loans $700Given this information, what is this firm’s Total Assets? AA) $1000B) $300C) $800D) $200E) $500Problems5-4If you know the following figures:Gross Loans 300 Trading Account Securities 2 Allowance for Loan Losses 15 Other Real Estate Owned 4 Federal Funds Sold 26 Goodwill and other Intangibles 3 Common Stock 12 Total Liabilities 380 Surplus 19 Preferred Stock 3 Total Equity Capital 49 Nondeposit Borrowings 20 Cash and Due from Banks 9 Bank Premises and Equipment, Net 29 Miscellaneous Assets 38Bank Premises and Equipment, Gross 34Please calculate these items:Total AssetsNet LoansUndivided ProfitInvestment SecuritiesDepreciationTotal Deposits5-5.Hokie High Bank has Gross Loans of $550 million with an ALL account of $30 million. Two years ago the bank made a loan for $10 million to finance the Hokie Hotel. One million dollarsin principal was repaid before the borrowers defaulted on the loan. The Loan Committee at Hokie High Bank believes the hotel will sell at auction for $7 million and they want to charge-off the remainder immediately.a. The dollar figure for Net Loans before the charge-off is ?b. After the charge-off, what are the dollar figures for Gross Loans, ALL and Net Loans assuming no other transactions.c. If the Hokie Hotel sells at auction for $8 million, how with the affect the pertinent balancesheet accounts?5-9. See if you can determine the amount of Rosebush State Bank’s current net income after taxesfrom the figures below (stated in millions of dollars) and the amount of its retained earnings from current income that it will be able to reinvest in the bank. (Be sure to arrange all the figures given in correct sequence to derive the bank’s Report of Income.)。
初二牛津(第5单元-1)Chapter 5
10.battle
n. 战斗；战役
The ringleader was shot to death in a gun battle. 主犯在枪战中被击毙。
11.pretend
v. 假装
He pretended that he was innocent. 他假装无辜。 He pretended to be friendly with me. 他假装对我友善。
5.the empty plain
6.capture/ take control of 7.wooden horse 木马 8.the main gates
大门
9.pull … into
10.drag … into
拉进来
拖进来 带走 开…的玩笑
11.take away
12.make jokes about/at
3. Betty was born in America but now she is a Chinese ______ (army / citizen). citizen 4. Knock on the door before you _____ enter (enter / seize) the teacher’s room. 5. The children are ___________ taking turns (succeeding in / taking turns) to play on the slides.
They succeeded in climbing over that mountain without any hurt. = They managed to climb over that mountain without any hurt.
初三知识同义词短语复习(Chapter 5
同义词短语复习（Chapter 5~6）短语：1.feel/be nervous = feel/be frightened and worried 觉得很紧张2.would love to do sth. = would like to do sth. 愿意/想要做某事3.hurry to some place = go to some place in a hurry 匆忙去某地4. raise one’s hand = put up one’s hand 举手5. It’s time for sth. = It’s time to do sth. 该做……的时候了6. ahead of time = in advance 提前7. six more questions = another six questions 另外六个问题8. one more hour = another hour 另外一个小时9. Sb. have/has trouble with sth. = There is something wrong with ………有问题10. be unprepared = be not ready 没有准备好11. keep still = keep quiet 保持安静12. switch on = turn on 打开13. immediately = at once / right away 立刻，马上14. be influenced by = be affected by 被……影响15. use sth. to do sth. = do sth. with sth. 用某物做某事16. no more = not … any more 不再17. What do you think of sb./sth? = How do you like sb./sth? 你认为……怎么样？18. Sb. spend some time (in) doing sth. = It take sb. some time to do sth. 某人花时间做某事19. Sb. spend money on sth. = Sb. pay money for sth. = Sth. cost sb. money 某人花钱买东西20. be good at = do well in 擅长于……21. in my opinion = I think 我认为……22. What’s your weight ? = How heavy are you? / How much do you weigh? 你体重多少？23. Let’s change the subject. = Shall we change the subject ? 我们换个话题好吗？24. It may be dangerous. = Maybe it is dangerous. 可能很危险。
商业银行管理彼得S.罗斯英文原书第8版 英语试题库Chap005
Chapter 5The Financial Statements of Banks and Their Principal CompetitorsFill in the Blank Questions1.Fed funds purchased is an example of _______________________ along with Eurodollarborrowings.Answer: nondeposit borrowings2.The short term securities of the bank, including T-Bills and commercial paper, are often called__________________________ because they are the second line of defense to meet demands for cash.Answer: secondary reserves3.__________________________ is a noncash expense on the bank's income statement whichallows the bank to account for future bad loans.Answer: Provision for loan losses4.__________________________ is the difference between interest income and interest expensesfor a financial institution.Answer: Net interest income5.__________________________ are the primary long term liabilities of the bank. Theseliabilities are paid only after deposits have been paid in the event of bankruptcy.Answer: Subordinated notes and debentures6.A(n)__________________________ is where the financial institution agrees to guaranteerepayment of a customer's loan received from a third party.Answer: standby credit agreement7.A(n)__________________________ is a short term collateralized loan. The collateral that isused generally consists of T-Bills.Answer: repurchase agreement8.A(n)__________________________ is a deposit account which pays an interest rate competitivewith money market mutual funds and which generally has limited check writing ability.Answer: money market deposit account9._____________________ is the sum of all outstanding IOU's owed to the bank in the form ofconsumer, real estate, commercial and agriculture loans as well as other types of creditextensions.Answer: gross loans10. A financial institution often records the value of its assets and liabilities at _______________which is the original or historical cost of the asset.Answer: book value11.The principal types of__________________________ include fee income, income from fiduciaryactivities and services charges on deposits.Answer: noninterest income12.The__________________________ shows the amount of revenues received and expensesincurred over a specific time period.Answer: Report of Income (income statement)13.The__________________________ lists the assets, liabilities and equity capital held by the bankon a given date.Answer: Report of Condition (balance sheet)14.______________ is labeled "Accounting for Derivative Instruments and Hedging Activities."Answer: FASB 13315.________________ labeled “Accounting for Derivative Instruments and Hedging Activities” andits recent amendments, FASB 138, are designed to make derivatives more publicly visible on corporate financial statements.Answer: FASB 13316.Under _____________ banks must account for the expected loss of interest income onnonperforming loans when calculating their loan-loss provision.Answer: FASB 11417.Temporarily buying and selling securities by a securities firm in a thinly traded market so as toinfluence the price is known as _________________.Answer: painting the tape18.The activity of manipulating the financial statements to artificially enhance the banks financialstrength is known as ___________________.Answer: window dressing or ‘creative accounting’19. is direct and indirect investment in real estate. These areproperties obtained for compensations for nonperforming loans.Answer: Other Real Estate Owned (OREO)20. consists of interest income received on loans from customers thathas not yet been earned by the bank under accrual accounting methods.Answer: Unearned discount income21. can be held by individuals and nonprofit institutions, bear interest andpermit drafts from being written against the account to pay third parties.Answer: Now accounts22.In the worldwide banking system, represent transferable time depositsin a variety of currencies and are often the principal source of short term borrows by banks.Answer: Eurocurrency Borrowings23.One part of arises from fees charged for ATM and POS transactions.Answer: Other Noninterest Income24.Fees that arise from a financial firm’s trust activities, fees for managing a corporations’ interestand dividend payments and fees for managing corporate or individual retirement plans are allincluded in the category of fees arising from .Answer: fiduciary activities25.Checking account maintenance fees and overdraft fees are included in the noninterest incomeaccount under .Answer: service charges on deposit accountsTrue/False QuestionsT F26.On a bank's income statement (Report of Income) deposit costs are financial inputs.Answer: TrueT F27.Loans and leases are financial outputs on a financial institution's balance sheet or Report of Condition.Answer: TrueT F28.Nondeposit borrowings are a financial input on a bank's balance sheet or Report of Condition.Answer: TrueT F29.The cost of nondeposit borrowings is a financial input on a bank's income statement or Report of Income.Answer: TrueT F30.Securities income is a financial output listed on a financial institution's Report of Condition.Answer: FalseT loans on a bank's balance sheet are derived by deducting the allowance for loan losses and unearned discounts from gross loans.Answer: TrueT F32.When a loan is classified as nonperforming any accrued interest recorded on the bank's books, but not actually received, must be deducted from a bank's loan revenues.Answer: TrueT F33.In U.S. banking, securities gains are treated as ordinary income.Answer: TrueT F34.Most banks report securities gains as a component of their total noninterest income.Answer: FalseT F35. A bank displaying trading account securities on its balance sheet is serving as a security dealer and plans to sell those securities before they reach maturity.Answer: TrueT F36.Bad loans normally do not affect a bank's current income.Answer: TrueT F37.The expensing of a worthless loan usually must occur in the year that loan become worthless.Answer: TrueT F38.Recoveries on loans previously charged off are added to the Provision for Loan Losses (PLL) account on a bank's income statement.Answer: FalseT F39.Loan-loss reserves set aside to cover a particular loan or loans expected to be a problem or present the bank with above-average risk are known as specific reserves.Answer: TrueT F40.U.S. banks (especially those with $500 million or more in total assets) are required to file financial statements audited by an independent public accountant with their principalfederal regulatory agency.Answer: TrueT F41.Off-balance-sheet items for a bank are fee generating transactions which are not recorded on their balance sheet.Answer: TrueT F42.The experience method of accounting for future loan loss reserves allows a bank to deduct from their income statement up to .6 percent of their eligible loans.Answer: FalseT F43.After the Tax Reform Act of 1986, large banks (>$500 million in assets) were required to use the reserve method of accounting for future loan loss reserves.Answer: FalseT F44.The number one source of revenue for a bank based on dollar volume is loan income.Answer: TrueT F45.In looking at comparative balance sheets, it can be seen that large banks rely more heavily on nondeposit borrowings while small banks rely more heavily on deposits.Answer: TrueT F46.The Pension Fund industry is now larger than the Mutual Fund industry.Answer: FalseT F47.Off-balance-sheet items for banks have declined in recent years.Answer: FalseT F48.Except for banks, Savings & Loans and Savings Banks hold the most deposits.Answer: TrueT F49."Painting the tape" refers to the practice whereby banks understate their nonperforming loans.Answer: FalseT F50.Financial statements issued by banks and nonblank financial service firms are looking increasingly similar today.Answer: TrueMultiple Choice Questions51.Bank assets fall into each of the following categories except:A)Loans.B)Investment securities.C)Demand deposits.D)Noninterest cash and due from banks.E)Other assets.Answer: C52.Banks generate their largest portion of income from:A)Loans.B)Short-term investment.C)Demand deposits.D)Long-term investments.E)Certificates of deposit.Answer: A53.Loans typically fall into each of the following categories except:A)Real estate.B)Consumer.C)Commercial and Industrial (business).D)Agricultural.E)Municipal.Answer: E54.Which of the following adjustments are made to gross loans and leases to obtain net loans andleases?A)The loan and lease loss allowance is subtracted from gross loansB)Unearned income is subtracted from gross interest receivedC)Investment income is added to gross interest receivedD) A and B.E) A. and C.Answer: D55.An example of a contra-asset account is:A)The loan and lease loss allowance.B)Unearned income.C)Buildings and equipment.D)Revenue bonds.E)The provision for loan loss.Answer: A56.The noncash expense item on a bank's Report of Income designed to shelter a bank's currentearnings from taxes and to help prepare for bad loans is called:A)Short-term debt interestB)Noninterest expenseC)Provision for taxesD)Provision for possible loan lossesE)None of the above.Answer: D57.A financial institution's bad-debt reserve, as reported on its balance sheet, is called:A)Unearned income or discountB)Allowance for possible loan lossesC)Intangible assetsD)Customer liability on acceptancesE)None of the aboveAnswer: B58.When a bank serves as a security dealer for certain kinds of securities (mainly federal, state, andlocal government obligations) the value of these securities is usually recorded in what account ona bank's Report of Condition?A)Investment SecuritiesB)Taxable and Tax-Exempt SecuritiesC)Trading Account SecuritiesD)Secondary ReservesE)None of the aboveAnswer: C59.The difference between noninterest income and noninterest expenses on a bank's Report ofIncome is called:A)Net Profit MarginB)Net Interest IncomeC)Net Income After Provision for Possible Loan LossesD)Income or Loss Before Income TaxesE)Net Noninterest IncomeAnswer: E60.The account that is built up by annual noncash expense deductions and is subtracted from GrossLoans on the Report of Condition is:A)Unearned incomeB)Nonperforming loansC)Allocated loan risk deductionsD)Allowance for possible loan lossesE)None of the above.Answer: D61.Nonperforming loans are credits on which any scheduled loan repayments and interest paymentsare past due for more than:A)30 daysB)60 daysC)90 daysD)180 daysE)None of the above.Answer: C62.One-time only transactions that often involve financial assets or real property pledged ascollateral behind a loan and upon which the bank has foreclosed affect a bank's account known as:A)Allowance for loan lossesB)Nonrecurring sales of assetsC)Asset gains or lossesD)Provision for loan and security lossesE)None of the above.Answer: B63.The use of fixed assets, rather than financial assets, in order to increase earnings flowing to abank's stockholders is known as:A)Plant and equipment investmentB)Financial leverageC)Operating leverageD)Nondeposit capitalE)None of the above.Answer: C64.Banks depend heavily upon borrowed funds supplied by customers with little owners' capitalinvested. This means that banks make heavy use of:A)Financial leverageB)Capital restructuringC)Operating LeverageD)Margin borrowingE)None of the above.Answer: A65.When a loan is considered uncollectible, the bank's accounting department will write (charge) itoff the books by reducing the ______ and the accounts. Which choice belowcorrectly fills in the blank in the preceding sentence?A)PLL and Gross LoansB)ALL and Net LoansC)ALL and Gross LoansD)PLL and Net LoansE)None of the above.Answer: C66.The common banking practice of selling those investment securities that have appreciated inorder to reap a capital gain and holding onto those securities whose prices have declined is known as:A)Gains tradingB)Performance bankingC)Loss control tradingD)Selective portfolio managementE)None of the above.Answer: A67.Noninterest revenue sources for a bank are called:A)Commitment fees on loansB)Fee incomeC)Supplemental incomeD)Noninterest marginE)None of the above.Answer: Brge U.S. banks must use which of the methods listed below to determine their provision forloan loss expense?A)Experience methodB)Reserve methodC)Specific charge-off methodD)Historical cost methodE)None of the above.Answer: C69.A bank's temporary lending of excess reserves to other banks is labeled on the balance sheet as:A)Fed Funds PurchasedB)Fed Funds SoldC)Money Market DepositsD)Securities Purchased for ResaleE)None of the aboveAnswer: B70.A bank sells shares of its common stock with a par value of $100 for $200 in the market. Whichtwo accounts on the bank's balance sheet are going to be affected?A)Retained earnings and capital surplus accountsB)Subordinated notes and debentures and commons stock outstanding accountsC)Retained earnings and common stock outstanding accountsD)Common stock outstanding and capital surplus accountsE)Only the common stock outstanding account is affectedAnswer: D71.A type of letter of credit which is widely used in international trade is known as:A)Banker's acceptanceB)Commercial paperC)Repurchase agreementD)Fed funds purchasedE)None of the aboveAnswer: A72.A bank which starts with ALL of $1.48 million at the beginning of the year, charges off worthlessloans of $.94 million during the year, recovers $.12 million on loans previously charged off and charges current income for a $1.02 million provision for loan losses will have an ALL at the end of the year of:A)$.66 millionB)$3.32 millionC)$1.68 millionD)$1.28 millionE)The same amount as at the beginning of the yearAnswer: C73.A bank that has total interest income of $67 million and total noninterest income of $14 million.This bank has total interest expenses of $35 million and total noninterest expenses (excluding PLL) of $28 million. Its provision for loan losses is $6 million and its taxes are $5. What is this bank's net interest income?A)$7B)-$14C)$18D)$32E)None of the aboveAnswer: D74.A bank that has total interest income of $67 million and total noninterest income of $14 million.This bank has total interest expenses of $35 million and total noninterest expenses (excluding PLL) of $28 million. Its provision for loan losses is $6 million and its taxes are $5. What is this bank's net noninterest income?A)$7B)-$14C)$18D)$32E)None of the aboveAnswer: B75.A bank that has total interest income of $67 million and total noninterest income of $14 million.This bank has total interest expenses of $35 million and total noninterest expenses (excluding PLL) of $28 million. Its provision for loan losses is $6 million and its taxes are $5. What is this bank's net income?A)$7C)$18D)$32E)None of the aboveAnswer: A76.Which of the following financial statements shows the revenues and expense of a bank over a setperiod of time?A)The statement of stockholders equityB)The funds-flow statementC)The report of financial conditionD)The report of incomeE)None of the aboveAnswer: D77.Which of the following accounts is sometimes called the bank's primary reserves?A)Cash and deposits due from bankB)Investment securitiesC)Trading account securitiesD)Fed funds soldE)None of the aboveAnswer: A78.Which of the following assets is the largest asset item on the bank's balance sheet?A)SecuritiesB)CashC)LoansD)Bank PremisesE)None of the aboveAnswer: C79.What financial service industry category is second to the banking industry in total assets held:A)Mutual fundsB)ThriftsC)Investment banksD)Insurance companiesE)Pension fundsAnswer: A80.FASB Rule 115 focuses primarily on bank:A)Deposit sourcesB)Investments in marketable securitiesC)Derivatives tradingD)Loan-loss reservesE)Federal funds81.Which of the following most accurately describes the principal type(s) of bank noninterestincome:A)Fees from fiduciary transactionsB)Fees from deposit transactionsC)Fees from securities transactionsD)Fees from additional noninterest incomeE)All of the aboveAnswer: E82.Fee income arising from fiduciary transactions include all of the following except:A)Checking account maintenance feesB)Fees for managing and protecting a customer’s propertyC)Fees for recordkeeping for corporate securityD)Fees for dispersing interest and dividend payments for a corporationE)Fees for managing corporate and individual retirement plansAnswer: A83.You know the following information about the Miller State Bank:Gross Loans$300Miscellaneous Assets$50Deposits$390Total Equity$50Common Stock Par$5Non-Deposit Borrowings$60Investment Securities$150Net Premises$40Surplus$5Allowance for Loan Losses$50Deposits$390Total Assets$500Gross Premises $70Given this information, what is this firm’s Net Loans?A) $250B) $350C) $500D) $50E) $150Answer: A84.You know the following information about the Miller State BankGross Loans$300Miscellaneous Assets$50Deposits$390Total Equity$50Common Stock Par$5Non-Deposit Borrowings$60Investment Securities$150Net Premises$40Surplus$5Allowance for Loan Losses$50Deposits$390Total Assets$500Gross Premises $70Given this information, what is this firm’s Depreciation?A) $250B) $30C) $70D) $40E) $110Answer: B85.You know the following information about the Miller State BankGross Loans$300Miscellaneous Assets$50Deposits$390Total Equity$50Common Stock Par$5Non-Deposit Borrowings$60Investment Securities$150Net Premises$40Surplus$5Allowance for Loan Losses$50Deposits$390Total Assets$500Gross Premises $70Given this information, what is this firm’s Total Liabilities?A) $390B) $60C) $450D) $500E) $50Answer: C86.You know the following information about the Miller State BankGross Loans$300Miscellaneous Assets$50Deposits$390Total Equity$50Common Stock Par$5Non-Deposit Borrowings$60Investment Securities$150Net Premises$40Surplus$5Allowance for Loan Losses$50Deposits$390Total Assets$500Gross Premises $70Given this information, what is this firm’s Undivided Profits?A) $50B) $5C) $10D) $40E) $450Answer: D87.You know the following information about the Miller State BankGross Loans$300Miscellaneous Assets$50Deposits$390Total Equity$50Common Stock Par$5Non-Deposit Borrowings$60Investment Securities$150Net Premises$40Surplus$5Allowance for Loan Losses$50Deposits$390Total Assets$500Gross Premises $70Given this information, what is this firm’s Total Liabilities Plus Equity?A) $250B) $450C) $150D) $50E) $500Answer: E88.You know the following information about the Davis National BankTotal Interest Expenses($500)Total Non Interest Income $100Securities Gains (Losses) $ 50Income Taxes($ 80)Dividends to Stockholders($ 40)Total Interest Income $800Total Non Interest Expenses($150)Provision for Loan Losses($100)Given this information, what is this firm’s Net Interest Income?A) $300B) $150C) ($50)D) $120E) $80Answer: A89.You know the following information about the Davis National BankTotal Interest Expenses($500)Total Non Interest Income $100Securities Gains (Losses) $ 50Income Taxes($ 80)Dividends to Stockholders($ 40)Total Interest Income $800Total Non Interest Expenses($150)Provision for Loan Losses($100)Given this information, what is this firm’s Net Non Interest Income?A) $300B) $150C) ($50)D) $120E) $80Answer: C90.You know the following information about the Davis National BankTotal Interest Expenses($500)Total Non Interest Income $100Securities Gains (Losses) $ 50Income Taxes($ 80)Dividends to Stockholders($ 40)Total Interest Income $800Total Non Interest Expenses($150)Provision for Loan Losses($100)Given this information, what is this firm’s Pretax Net Operating Income (or Net Income before Extraordinary Items)?A) $300B) $150C) ($50)D) $120E) $80Answer: B91.You know the following information about the Davis National BankTotal Interest Expenses($500)Total Non Interest Income $100Securities Gains (Losses) $ 50Income Taxes($ 80)Dividends to Stockholders($ 40)Total Interest Income $800Total Non Interest Expenses($150)Provision for Loan Losses($100)Given this information, what is this firm’s Net Income?A) $300B) $150C) ($50)D) $120E) $80Answer: D92.You know the following information about the Davis National BankTotal Interest Expenses($500)Total Non Interest Income $100Securities Gains (Losses) $ 50Income Taxes($ 80)Dividends to Stockholders($ 40)Total Interest Income $800Total Non Interest Expenses($150)Provision for Loan Losses($100)Given this information, what is this firm’s Increase in Undivided Profits?A) $300B) $150C) ($50)D) $120E) $80Answer: E93.You know the following information about the Davis National BankTotal Interest Expenses($500)Total Non Interest Income $100Securities Gains (Losses) $ 50Income Taxes($ 80)Dividends to Stockholders($ 40)Total Interest Income $800Total Non Interest Expenses($150)Provision for Loan Losses($100)Given this information, what is this firm’s Total Revenues?A) $800C) $150D) $950Answer: D94.You know the following information about the Webb State BankAccumulated Depreciation$40Net Loans$600Fed Funds Purchased and Repurchase Agreements$200Cash and Due from Banks$50Trading Account Securities$40Miscellaneous Assets$100Deposits$500Undivided Profits$140Gross Premises$90Surplus$40Subordinated Debt$100Investment Securities$160Common Stock Par$20Gross Loans$700 Given this information, what is this firm’s Allowance for Loan Losses?A) $1300B) $1000C) $50D) $200E) $100Answer: E95.You know the following information about the Webb State BankAccumulated Depreciation$40Net Loans$600Fed Funds Purchased and Repurchase Agreements$200Cash and Due from Banks$50Trading Account Securities$40Miscellaneous Assets$100Deposits$500Undivided Profits$140Gross Premises$90Surplus$40Subordinated Debt$100Investment Securities$160Common Stock Par$20Gross Loans$700 Given this information, what is this firm’s Net Premises?A) $130B) $1000D) $200E) $100Answer: C96.You know the following information about the Webb State BankAccumulated Depreciation$40Net Loans$600Fed Funds Purchased and Repurchase Agreements$200Cash and Due from Banks$50Trading Account Securities$40Miscellaneous Assets$100Deposits$500Undivided Profits$140Gross Premises$90Surplus$40Subordinated Debt$100Investment Securities$160Common Stock Par$20Gross Loans$700 Given this information, what is this firm’s Total Non Deposit Borrowings?A) $1000B) $300C) $800D) $200E) $500Answer: B97.You know the following information about the Webb State BankAccumulated Depreciation$40Net Loans$600Fed Funds Purchased and Repurchase Agreements$200Cash and Due from Banks$50Trading Account Securities$40Miscellaneous Assets$100Deposits$500Undivided Profits$140Gross Premises$90Surplus$40Subordinated Debt$100Investment Securities$160Common Stock Par$20Gross Loans$700 Given this information, what is this firm’s Total Liabilities?A) $1000B) $300D) $200E) $500Answer: C98.You know the following information about the Webb State BankAccumulated Depreciation$40Net Loans$600Fed Funds Purchased and Repurchase Agreements$200Cash and Due from Banks$50Trading Account Securities$40Miscellaneous Assets$100Deposits$500Undivided Profits$140Gross Premises$90Surplus$40Subordinated Debt$100Investment Securities$160Common Stock Par$20Gross Loans$700 Given this information, what is this firm’s Total Equity?A) $1000B) $300C) $800D) $200E) $500Answer: D99.You know the following information about the Webb State BankAccumulated Depreciation$40Net Loans$600Fed Funds Purchased and Repurchase Agreements$200Cash and Due from Banks$50Trading Account Securities$40Miscellaneous Assets$100Deposits$500Undivided Profits$140Gross Premises$90Surplus$40Subordinated Debt$100Investment Securities$160Common Stock Par$20Gross Loans$700 Given this information, what is this firm’s Total Assets?A) $1000B) $300C) $800E) $500Answer: A100.You know the following information about the Taylor National Bank Provision for Loan Losses($100)Income Taxes($140)Non Interest Income $500Dividends ($60)Securities Gains (Losses) ($50)Interest Income $1500Non Interest Expense $750Interest Expenses $750 Given this information, what is this firm’s Net Interest Income?A) $150B) $210C) $400D) ($250)E) $750Answer: E101.You know the following information about the Taylor National Bank Provision for Loan Losses($100)Income Taxes($140)Non Interest Income $500Dividends ($60)Securities Gains (Losses) ($50)Interest Income $1500Non Interest Expense $750Interest Expenses $750 Given this information, what is this firm’s Net Non Interest Income?A) $150B) $210C) $400D) ($250)E) $750Answer: D102.You know the following information about the Taylor National Bank Provision for Loan Losses($100)Income Taxes($140)Non Interest Income $500Dividends ($60)Securities Gains (Losses) ($50)Interest Income $1500Non Interest Expense $750Interest Expenses $750Given this information, what is this firm’s Net Operating Income or Net Income BeforeExtraordinary Income?A) $150B) $210C) $400D) ($250)E) $750Answer: C103.You know the following information about the Taylor National BankProvision for Loan Losses($100)Income Taxes($140)Non Interest Income $500Dividends ($60)Securities Gains (Losses) ($50)Interest Income $1500Non Interest Expense $750Interest Expenses $750Given this information, what is this firm’s Net Income?A) $150B) $210C) $400D) ($250)E) $750Answer: B104.You know the following information about the Taylor National BankProvision for Loan Losses($100)Income Taxes($140)Non Interest Income $500Dividends ($60)Securities Gains (Losses) ($50)Interest Income $1500Non Interest Expense $750Interest Expenses $750Given this information, what is this firm’s Increase in Undivided Profits?A) $150B) $210C) $400D) ($250)E) $750Answer: ARose/Hudgins, Bank Management and Financial Services, 8/e77。
《福尔摩斯探案集》阅读思考题参考答案和梗概范文
Level 4 Sherlock Holmes< Answer Key >Silver BlazeChapter 1Preview questions1.I have heard of Sherlock Holmes. He is famous for being an excellent detective.2.I do not know any detectives in real life, but I read a book about a girl detective called Nancy Drew.3.I think Silver Blaze is the name of a thoroughbred racing horse.Review questions1.Colonel Ross, a rich man who owns King’s Pyland farm, owns Silver Blaze.2.Dr. Watson found out that John Straker was murdered when he read it in the newspaper.3.John Straker was responsible for looking after Silver Blaze. He also trained it and exercised it.Chapter 2Preview questions1.I think the curry dinner will be important because it will provide Sherlock Holmes with a clue towardsolving the mystery.2.At King’s Py land, I think Watson and Holmes will find some clues about what happened to SilverBlaze.3.I think in this chapter, Holmes and Watson will talk to Colonel Ross and Edith Baxter, in order to findout what happened to Silver Blaze.Review questions1.Edith did not like the look of the man who talked to her because his face was white and he was verynervous. Also he took an envelope from his pocket and offered her money if she would give it to Ned Hunter.2.When Ned found out about the man, he shouted at the man and undid the rope that tied up his dog. Heset the dog on the man.3.John Straker couldn’t sleep because he was worried that something was going to happen to SilverBlaze.1Chapter 3Preview questions1.The title does give a clue about what will happen in the chapter. It tells me there will be a murder inthis chapter.2.I think John Straker will be murdered.3.In this chapter, I think Holmes will tell about a how John Straker was murdered.Review questions1.Watson thought the man had put a drug into Ned Hunter’s cur ry dinner.2.Holmes thought Inspector Gregory was a good detective, but did not have much imagination.3.The evidence against Fitzroy Simpson included the fact that he had lost a lot of money betting onhorses, he was interested in another horse that was Silve r Blaze’s main rival, he owned a heavy stick, and his coat was wet from the rain.Chapter 4Preview questions1.I think the murderer’s blood is on the knife.2.I do not think Fitzroy Sim pson is the murderer because I don’t think his blood will be found on th eknife in John Straker’s hand.3.I think Holmes will go to King’s Pyland farm in this chapter.Review questions1.Holmes did not believe Fitzroy Simpson had murdered John Straker because there were manyquestions about Simpson’s involvement in the case that h ad no good answer.2.Inspector Gregory asked Watson about the special knife because he thought it was a special kind ofknife, one that a doctor might need.3.The bills for Mr. Darbyshire were sent to King’s Pyland because Mr. Darbyshire was a friend of JohnStraker, and sometimes had letters for him sent to the Straker house.Chapter 521.I think there are binoculars i n Inspector Gregory’s bag.2.I do not believe Fitzroy Simpson murdered John Straker because there are many things aboutSimpson’s involvement in the murder that can not be explained.3.In this chapter, I think Mrs. Straker will talk to Sherlock Holmes about what she thinks happened toher husband.Review questions1.The fact that there was no wind on the night of the murder is important because that meant it could nothave been wind that blew the coat into the bush. Someone must have put it there.2.The missing horse was called Silver Blaze because of a white mark on its face, between the eyes.3.Holmes thought Silver Blaze is still near because horses like to be with other horses, and it was toofamous to sell.Chapter 6Preview questions1.I think the footprints will lead to Capleton Farm.2.There were two sets of footprints because there were two horses. I think the second set of footprintsbelongs to Silver Blaze’s main rival, Desborough.3.I think Holmes and Watson are going to Capleton Farm.Review questions1.Holmes and Watson went to Capleton Farm because the horse footprints led them there.2.Dr. Watson had to wait about twenty minutes while Sherlock Holmes talked to Silas Brown.3.Watson thought Holmes was not interested in solving the murder because Holmes said they wouldreturn on the train to London that night.Chapter 731.I think Holmes will have some fun with the Colonel by pretending he does not know where SilverBlaze is.2.I think Holmes will ask Inspector Gregory for a pair of binoculars, because Watson forgot to bring his.3.I think Holmes will prove that Silas Brown was the person who stole Silver Blaze and murdered JohnStraker.Review questions1.The sheep were not able to walk properly. Ned thought they had injured their legs.2.The colonel was puzzled because his horse wasn’t listed as one of the runners, and the jockey he choseto ride Silver Blaze was riding a big black horse.3.Silver Blaze’s face had been painted black so no one would recognize him.Chapter 8Preview questions1.I think the murderer is Silas Brown.2.I think this person murdered Mr. Straker because Mr. Straker tried to stop him from stealing SilverBlaze.3.I think the colonel will be very happy that his horse won and the murder has been solved.Review questions1.The scarf was significant because John Straker was going to use it to tie around the leg he was goingto cut on Silver Blaze.2.Straker needed money because he was heavily in debt. He was in debt because he kept a fashionablewife in London as well as his wife at King’s Pyland farm.3.The curious thing about the dog was that it did not bark when the man stole the horse. Holmesconcluded the dog must have known the person who stole the horse.4The Speckled BandChapter 1Preview questions1.I think a ‘speckled band’ is a strip of dots on a person’s skin.2.I think Holmes likes to solve all types of mysteries, but he likes the interesting and difficult mysteriesbest.3.I think Dr. Watson will help Mr. Holmes solve the mystery.Review questions1.Sherlock Holmes thought that the case was serious because the young woman visited so early.2.Holmes surprised the young woman when he knew she had had a long drive in a dog-cart alongmuddy roads before she got to the station to catch an early train.3.The young woman found out about Sherlock Holmes when she read about him in the newspaper.Chapter 2Preview questions1.I think the woman is so afraid because she thinks someone wants to kill her.2.I think this will be a murder mystery.3.I think Holmes will help her by traveling with her to her home and finding out who wants to kill her. Review questions1.I think Dr. Grimesby Roylott is a violent man. I know this because he had to go to jail for beating aman to death.2.When Helen Stoner’s twin sister told her stepfather that she was g etting married, nothing happened atfirst, but a fortnight before the wedding something strange happened.3.Helen Stoner didn’t hear the whistle because she slept more deeply than her sister.5Chapter 3Preview questions1.I think Julia Stoner was murdered by Dr. Roylott.2.I think the sisters always locked their doors at night because they were scared of Dr. Roylott’s animals.3.I think Dr. Roylott will act very violently and kill Julia Stoner.Review questions1. A burnt match and a matchbox were found in the hands of the dead woman.2.We know that Helen’s sister died alone because her bedroom door was locked.3.Dr. Watson knew that Holmes did not think the gypsies were involv ed in Julia’s death because he sawSherlock Holmes shake his head.Chapter 4Preview questions1.I do not think Miss Stoner is protecting her stepfather because he was a violent man who was not kindto Helen Stoner or her sister.2.I think Helen Stoner will get married.3.I think Holmes will say that Miss Stoner’s story is very interesting and agree to take the case.Review questions1.Miss Stoner had to sleep in her d ead sister’s bedroom because building work was started next to herown room, and there was a hole in her bedroom wall.2.It would be safe for Holmes and Watson to visit Dr. Roylott’s house because Dr. Roylott was away forthe day.3.Holmes thinks the ‘clang’ sound was made by an iron lock being opened.Chapter 561.I think Dr. Roylott visits Sherlock Holmes because he wanted to warn Sherlock Holmes to stay awayfrom him and his stepdaughter.2.I think Dr. Roylott will punch Sherlock Holmes in order to prove he is a very strong man.3.I think Holmes asks Watson to take a gun with him when they visit Miss Stoner.Review questions1.Dr. Roylott accuses Holmes of changing the subject because Holmes refused to tell him what HelenStoner had said.2.Holmes proves that he is as strong as Dr. Roylott by picking up the poker and bending it straight again.3.Dr. Roylott said he wanted to do some repairs to her room in order to get Helen Stoner to changerooms.Chapter 6Preview questions1.I think Holmes and Watson will find animal hairs in the rooms.2.I thi nk the fake bell rope is for Dr. Roylott’s animals to pla y on.3.I think Dr. Roylott will return to the house when Holmes and Watson are looking around at thebedrooms.Review questions1.The ventilator was put in at the same time as the fake bell rope, about two years earlier.2.Holmes thinks that Dr. Roylott may have a cat as a pet because there was a saucer of milk on top ofthe safe.3.When she hears Dr. Roylott go to bed, Helen Stoner must open her windows and unlock the shutters,leave a lamp on in the window, and go and sleep in another room.Chapter 771.I think the title refers to an animal or insect biting a person a killing them.2.I think the bell rope and ventilator would be used for Dr. Roylott to spy on Helen Stoner and kill her.3.Holmes and Watson will catch Dr. Roylott trying to kill Helen Stoner.Review questions1.The sound the two men heard that made Holmes use his cane was a hissing sound.2.The leash had a loop at the end because it was used for holding a snake.3.Sherlock Holmes is not sorry he caused the death of Dr. Roylott because he thinks Dr. Roylott was avery evil man.The Engineer’s ThumbChapter 1Preview questions1.An engineer is a person who knows how to design, build, or operate machinery.2.I think Watson no longer lived with Holmes because Watson had got married.3.I think this story will be about an engineer getting his thumb cut off by a big machine.Review questions1.Dr. Watson quickly washed and got dressed when he learned that his patient had come fromPaddington Station because he knew from experience that cases to do with railway workers were often serious.2.Dr. Watson gave Mr. Hatherly some brandy and water to make him feel better.3.Mr. Hatherly wanted to go to the police because he thought the men who cut off his thumb meant tomurder him.Chapter 281.I think Mr. Hatherly will want to visit Sherlock Holmes because he thinks Holmes might be able tosolve the mystery and help him.2.I think Holmes will help Mr. Hatherly by visiting the place where Mr. Hatherly’s accident happened.3.I think the “evil men” mentioned earlier by Mr. Hatherly will not be in this chapter, because afterreading the title of this chapter, I think it will be about Mr. Hatherly’s visit to Sherlock Holmes. Review questions1.Sherlock Holmes was dressed in his dressing gown when Dr. Watson and his patient arrived.2.Colonel Stark suddenly walked to the door and opened it because he wanted to be sure nobody waslistening to his conversation with Mr. Hatherly.3.Colonel Stark wanted Mr. Hatherly to go to Eyford because he wanted Mr. Hatherly to tell him whatwas wrong with a hydraulic stamping machine that was not working properly.Chapter 3Preview questions1.I think Colonel Stark wants Mr. Hatherly to go so late at night so that everybody will be sleeping andhe won’t be seen.2.I do not think Colonel Stark can be trusted because he acted so secretively and asked so many strangequestions.3.In this chapter, I think Hatherly will go to Eyford and see the hydraulic stamping machine.Review questions1.Colonel Stark said he had the hydraulic press because he was using it to press a valuable mineral intobricks.2.One horse pulled the carriage.3.Mr. Hatherly couldn’t see much outsi de of the house because it was very dark and they were in such ahurry.9Chapter 4Preview questions1.The books on the table were written in the same language the young lady spoke. I think that languageis German.2.I think the woman will try to persuade Hatherly to leave the house immediately.3.I think the machine has an electrical problem.Review questions1.Hatherly said he opened the door because he was hot and needed some air.2.The floor of the machine was made of metal.3.Hatherly was angry because the colonel had deceived him about what the machine was used for.Chapter 5Preview questions1.I think Hatherly will be trapped by the hydraulic press.2.I think the young woman will help Hatherly.3.I think Hatherly will be trapped and injured in this chapter.Review questions1.When he could not stand up in the hydraulic press, Hatherly crawled through a gap between twoplanks of wood.2.The woman said jumping out a high window was Hatherly’s only chance.3.Colonel Stark wanted Hatherly dead because he thought Hatherly had seen too much.Chapter 6101.I think when Hatherly regains consciousness, he will be at the Eyford train station.2.I think Colonel Stark’s carriage took him there.3.I think Colonel Stark will go to the police and accuse Hatherly of being a robber.Review questions1.Hatherly woke up at dawn.2.Holmes said Mr. Hatherly was lucky because Colonel Stark was very dangerous and could easily havemurdered Mr. Hatherly.3.The inspector thinks the drive Mr. Hatherly took was about ten miles because Mr. Hatherly said it wasat least an hour’s drive.Chapter 7Preview questions1.I think the house is to the north of the station.2.I think the house will catch fire because Sherlock Holmes drops his pipe during a fight with ColonelStark.3.The people in the house have been murdering people with the hydraulic press.Review questions1.Dr. Becher owned the house that caught fire.2.The firemen were puzzled because there was a hydraulic press in the house, and a human thumb.3.Hatherly was carried back to the railway station, as the station was very close to the house.The Empty HouseChapter 1111.I think Sherlock Holmes is a very intelligent and interesting person.2.I think this mystery will be about strange things happening in an empty house.3.This story happens four years after the mystery about Silver Blaze.Review questions1.Ronald Adair liked to play cards and was a member of several card clubs.2.Ronal d Adair’s mother and sister went to his room because they wanted to say good night to him.3.Ronald Adair was murdered by being shot in the head.Chapter 2Preview questions1.I think the title means that Sherlock Holmes will come into the story.2.I think Wats on will go to Ronald Adair’s house and look for clues in his bedroom.3.The connection between Ronald Adair and Sherlock Holmes is that they both know Colonel Moran. Review questions1.Holmes wanted people to think he was dead so that his enemies would leave him alone.2.Two members of the Moriarty gang had escaped.3.Dr. Watson’s wife had died.Chapter 3Preview questions1.Watson thinks they are going to the Baker Street house to talk about the case.2.The people that know Holmes is still alive are his brother Mycroft, and the man who tried to kill himon the cliff path.123.Mrs. Hudson moves the dummy every fifteen minutes.Review questions1.Holmes knows that people have been watching 221B Baker Street because he saw one of their spiesthat morning.2.Watson begins to be suspicious of the walking stick when he put it on the floor, and it made a noisethat sounded like metal not wood.3.Holmes calls for help from the police by blowing a whistle.Chapter 4Preview questions1.I think the remaining member of Moriarty’s gang has been trying to kill Holmes.2.I think this man does have something to do with the Park Lane mystery.3.Colonel Moran’s special ability is shooting a rifle.Review questions1.Holmes suspected Colonel Moran of being the murderer of Adair because he knew Colonel Moranwas one of the best rifle shots in the world.2.The gun that Colonel Moran used was interesting because it was an air rifle made from a walking stick.3.Ronald Adair was killed by Colonel Moran, who shot him with an air gun through an open window.< Summaries >Silver BlazeChapter One.Dr. Watson and Sherlock Holmes, the well known detective, shared a house in London. Dr. Watson kept a diary of their adventures together. This adventure is about a stolen horse.13Chapter TwoWhile they were traveling on the train Holmes told Dr. Watson the facts about murder of John Straker. Edith Baxter had been taking Ned his curry supper. Ned was guarding the horse Silver blaze in his stable. On her way to the stable Edith was surprised by an evil looking man who offered her money if he could talk to Ned. Edith ran away from the man to the stable and told Ned what had happened. Ned got his friends to tell John Straker what had occurred. Mr. Straker was worried and got up early to check that everything was alright.Chapter ThreeHolmes and Watson continued their journey. We learned of the discovery of John Straker’s body. He was killed by a blow to the head and there was a cut on his leg. Watson thought the curry supper might have been drugged. The policeman in charge of the case was Inspector Gregory. He had arrested Fitzroy Simpson, whose scarf was found in the dead man’s hand. Edith and Ned both recognized the scarf as belonging to the evil-looking man.Chapter Four.Holmes and Watson arrived at the country station. They were met by the police inspector and Colonel Ross, the owner of Silver Blaze. They were shown the body of John Straker.Chapter FiveHolmes inspected the scene of the crime and found some important clues. Because it had been raining on the night of the murder there we re a horse’s foot prints in the damp soil. Holmes and Watson follow ed the hoof prints and discovered the foot prints of a second horse.Chapter Six.Holmes and Watson followed the footprints to Capleton farm and met Silas Brown. At first Brown was very angry but Holmes said something that changed him into someone friendly. Watson was amazed when Holmes said he was going back to London.14Chapter SevenSherlock Holmes surprised everyone by leaving Kings Pyland. The Colonel’s horse won the big race. Holmes told Colonel Ross to wash the face of the winning horse!Chapter EightHolmes shocked the Colonel and Watson by telling them who murdered John Straker. It was not who they thought! John Straker was a bad man who needed money because he was in debt. He hoped to make a lot of money on the race by cheating.The Speckled BandChapter OneSherlock Holmes and Dr. Watson were woken up early by a young woman in trouble. Her story was one of the strangest in Dr. W atson’s d iary. The young woman was very frightened, Sherlock Holmes promised to help her. Holmes surprised the young woman by appearing to know so much about her recent movements. Holmes explained that he could tell things by looking carefully at her clothing and what she was holding in her hand.Chapter TwoDr. Grimesby Roylott had worked in India where he developed a liking for strange pets. He had married Helen Stoner’s mother. The marriage made him rich and he moved back to England to live in a big old house. However, there was a mysterious death in the house which appeared to have something to do with a strange whistle.Chapter Three15Helen Stoner’s sister die d a horrible death. A court investigation couldn’t find out how she had died, but Helen Stoner thought her twin had died of fright. The last words Julia Stoner spoke to her sister were very mysterious, she talked of a “speckled band” and then died. There were some gypsies camped nearby and Helen thought they may have had something to do with the death.Chapter FourHelen told Holmes and Watson that she was planning to marry in the spring. Her stepfather took the news calmly, but then began building work in her room, so she had to sleep in her sister’s old room. Holmes wa s able to determine that Dr. Roylott had been violent with her. After Helen left, Holmes and Watson discussed the case.Chapter FiveDr. Grimesby Roylott visits Holmes and Watson. He is very angry warns them not to listen to his stepdaughter. He threatens them and shows off his strength. Holmes and Watson travel to the old house to meet Helen Stoner and look for clues.Chapter SixSherlock Holmes found many strange things in the old house. He worked out a plan. Dr. Watson and he would stay the night in Helen Stoner’s bedroom to see if they could solve the mystery. Holmes and Watson stayed in a hotel near the old house until it was dark. Helen Stoner agreed to the plan to leave a window open and to light a lamp when it was safe for the two friends to climb in.Chapter SevenHolmes and Watson waited at the hotel for the lamp to be lit. In the garden outside the old house they got a big surprise! They got inside the house and waited for a long time. At three o’clock in the morning they hear d a strange noise and Holmes jumped into action. There was the sound of the strange whistle, then a terrible scream and Doctor Roylott was found dead. Holmes and Watson discovered the horrible truth about the“s peckled band.”16The Engineer’s ThumbChapter OneDr. Watson, who no longer lived in the same house Sherlock Holmes, was awoken to find a new patient waiting for him. A young man had had a terrible experience during the night and needed a doctor and a detective. Dr. Watson looked after the man’s injured hand and discover ed that his name was Mr. Victor Hatherly and that he was an engineer. The man believed that someone was trying to murder him.Chapter TwoDr. Watson took his patient to meet Sherlock Holmes. The hydraulic engineer told Holmes about a man called Colonel Lysander Stark who visited him yesterday. He asked Hatherly some very strange questions and made him promise not to tell anyone about his visit or the work he was being asked to do. Mr. Hatherly promised. Colonel Stark said that he will pay a lot of money for one night’s work.Chapter ThreeMr. Hatherly asked about the work he had to do. He was told that the machine he was to look at was used in helping to mine a very valuable mineral. He traveled at night by train into the country to see the machine.Chapter FourA frightened woman tried to warn Mr. Hatherly that he was in danger. Hatherly was shown the machine and could quickly tell why it was not working properly. He realized he had been tricked and was very angry.Chapter FiveHatherly was trapped inside the machine and it looked as though he would be killed. Just before he was about to be crushed the frightened woman helped him escape. During his escape he was attacked by Colonel Stark with an axe. The colonel chopped off Hatherly’s thumb.17Chapter SixHatherly was unconscious but when he recovered was amazed to find himself at Eyford Station. Holmes found an important clue in a newspaper article written about a year earlier. Sherlock Holmes, Dr. Watson, Mr. Hatherly, and the police traveled back to Eyford Station. With the help of a map they tried to find the house where Hatherly was almost murdered.Chapter SevenHolmes surprised everyone by telling them where the house that Mr. Hatherly was taken to was. Mr. Hatherly found out the real reason for the press. Local firemen were surprised to find a human thumb and the mystery of how Hatherly got back to Eyford Station was solved.The Empty HouseChapter OneDr. Watson thought that Sherlock Holmes was dead. Because of his close friendship with the great detective, Dr. Watson continued to take an interest in the crimes reported in the newspaper. He tried to solve them in the way that Sherlock Holmes would have done. In this story, Watson began to tell us of the murder of Ronald Adair. He was a young man who liked to play cards and gamble for large sums of money.Chapter TwoDr. Watson investigated the crime scene at Park Lane but could not solve the crime. While there, he accidentally met a strange old bookseller who later came to Watson’s house. Watson wa s shocked to find that the old bookseller was none other than his old friend Sherlock Holmes! Holmes told Watson how he cheated death and had been travelling the world for nearly three years.Chapter ThreeHolmes had more surprises for Watson when he took him to an empty house opposite of 221B Baker Street. Once inside, Watson was amazed to see what looked like Sherlock Holmes moving about in the rooms where18they used to live. Suddenly a man entered the dark room in which Holmes and Watson were waiting. He carried a false walking stick which is really a gun and shot the model of Sherlock Holmes.Chapter FourHolmes and Watson caught Colonel Moran and handed him over to Inspector Lestrade of the London police. Lestrade wanted to accuse Colonel Moran of trying to murder Sherlock Holmes but Holmes surprised everyone by telling the inspector that he had caught the killer of Ronald Adair. Holmes and Watson returned to their old home where Watson saw the model of Sherlock Holmes which was used to trick Colonel Moran. They also found the special bullet that was fired from an air rifle at the dummy of Sherlock Holmes.19。
国际财务管理(英文版) 第11版 马杜拉 答案 Chapter 5
Chapter 5Currency Derivatives Lecture OutlineForward MarketHow MNCs Can Use Forward ContractsNon-Deliverable Forward ContractsCurrency Futures MarketContract SpecificationsFuturesTradingComparison of Currency Futures and Forward ContractsPricing Currency FuturesCredit Risk of Currency Futures ContractsSpeculation with Currency FuturesHow Firms Use Currency FuturesClosing Out a Futures PositionTransaction Costs of Currency FuturesCurrency Call OptionsFactors Affecting Call Option PremiumsHow Firms Use Currency Call OptionsSpeculating with Currency Call OptionsCurrency Put OptionsFactors Affecting Currency Put Option PremiumsHedging with Currency Put OptionsSpeculating with Currency Put OptionsContingency Graphs for Currency Options Conditional Currency OptionsEuropean Currency OptionsChapter ThemeThis chapter provides an overview of currency derivatives, which are sometimes referred to as “speculative.” Yet, firms are increasing their use of these instruments for hedging. The chapter does give speculation some attention, since this is a good way to illustrate the use of a particular instrument based on certain expectations. However, the key is that students have an understanding why firms would consider using these instruments and under what conditions they would use them.Topics to Stimulate Class Discussion1. Why would a firm ever consider futures contracts instead of forward contracts?2. What advantage do currency options offer that are not available with futures or forwardcontracts?3. What are some disadvantages of currency option contracts?4. Why do currency futures prices change over time?5. Why do currency options prices change over time?6. Set up several scenarios, and for each scenario, ask students to determine whether it would bebetter for the firm to purchase (or sell) forward contracts, futures contracts, call option contracts, or put options contracts.Critical debate:HedgingProposition: MNC’s should not protect against currency changes. Investors take into account currency risks and the diversification benefits from investing in companies that conduct international business. But if these companies are going to protect themselves against one of the main sources of diversification, namely currency changes, they are in effect denying investors the opportunity to benefit from such diversification in order to protect their own positions as directors.Opposing view: Companies specialize in certain activities that generally do not include currency speculation. Derivatives enable such companies to specialize in more clearly defined risks. The protection is in any case only short term, no protection is being offered for long term changes in the value of a currency. Derivatives simply avoid distortion to profits caused by unusual changes to currency values. Such currency shocks could lead to abnormal share price movements that might adversely affect individual shareholders who have to sell for personal reasons.With whom do you agree? How should the investment community view business risk?Should shareholders be more aware of the currency risk policy of the company? Are directors protecting their own positions at the expense of the shareholder? Offer your own opinion on this issue.ANSWER: The mian ppoint is trhat the company should heve a clearly defined foreign exchange rate policy. Annual reports states clearly the general poicy of companies. Often that they do not hedge translation risk as in this example from Renault 2004Renault does not generally hedge its future operating cash flows inforeign currencies. The operating margin is therefore subject in the futureto changes caused by exchange rate fluctuations. In this way, Renaultaverages out any impacts over a long period, while not assuming the risksinherent in forward currency hedging.Often an extimate of the impact of a change in the exchange rate on operation profits will also be given. For example from the same report:How shareholder probably has little say over such a detailed policy, but investing in Renault does make it clear as to how earnings if not share price reacts to the exchange rate. Later in the text itis shown that share prices react predominantly in relation to the home country share index, so the idea that one can buy exposure to foreign currencies in this way is a bit of a myth.Answers to End of Chapter Questions1. Forward versus Futures Contracts. Compare and contrast forward and futures contracts.ANSWER: Because currency futures contracts are standardized into small amounts, they can be valuable for the speculator or small firm (a commercial bank’s forward contracts are more common for larger amounts). However, the standardized format of futures forces limited maturities and amounts.2. Using Currency Futures.a. How can currency futures be used by corporations?ANSWER: U.S. corporations that desire to lock in a price at which they can sell a foreign currency would sell currency futures. U.S. corporations that desire to lock in a price at which they can purchase a foreign currency would purchase currency futures.b. How can currency futures be used by speculators?ANSWER: Speculators who expect a currency to appreciate could purchase currency futures contracts for that currency. Speculators who expect a currency to depreciate could sell currency futures contracts for that currency.3. Currency Options. Differentiate between a currency call option and a currency put option.ANSWER: A currency call option provides the right to purchase a specified currency at a specified price within a specified period of time. A currency put option provides the right to sell a specified currency for a specified price within a specified period of time.4. Forward Premium. Compute the forward discount or premium for the Mexican peso whose90-day forward rate is £0.05 and spot rate is £0.051. State whether your answer is a discount or premium.ANSWER: (F - S) / S= (0.05 – 0.051)/0.051 x 360/90 = -.078 or -7.8% a discount therefore5. Effects of a Forward Contract. How can a forward contract backfire?ANSWER: If the spot rate of the foreign currency at the time of the transaction is worth less than the forward rate that was negotiated, or is worth more than the forward rate that was negotiated, the forward contract has backfired.6. Hedging With Currency Options. When would a U.S. firm consider purchasing a calloption on euros for hedging? When would a U.S. firm consider purchasing a put option on euros for hedging?ANSWER: A call option can hedge a firm’s future payables denominated in euros. It effectively locks in the maximum price to be paid for euros.A put option on euros can hedge a U.S. firm’s future receivables denominated in euros. Iteffectively locks in the minimum price at which it can exchange euros received.7. Speculating With Currency Options. When should a speculator purchase a call option onAustralian dollars? When should a speculator purchase a put option on Australian dollars?ANSWER: Speculators should purchase a call option on Australian dollars if they expect the Australian dollar value to appreciate substantially over the period specified by the option contract.Speculators should purchase a put option on Australian dollars if they expect the Australian dollarvalue to depreciate substantially over the period specified by the option contract.8.Currency Call Option Premiums. List the factors that affect currency call option premiumsand briefly explain the relationship that exists for each. Do you think an at-the-money call option in euros has a higher or lower premium than an at-the-money call option on dollars (assuming the expiration date and the total dollar value represented by each option are the same for both options)?ANSWER: These factors are listed below:•The higher the existing spot rate relative to the strike price, the greater is the call option value, other things equal.•The longer the period prior to the expiration date, the greater is the call option value, other things equal.•The greater the variability of the currency, the greater is the call option value, other things equal.The at-the-money call option in euros should have a lower premium because the euro should have less volatility than the dollar.9. Currency Put Option Premiums. List the factors that affect currency put options and brieflyexplain the relationship that exists for each.ANSWER: These factors are listed below:•The lower the existing spot rate relative to the strike price, the greater is the put option value, other things equal.•The longer the period prior to the expiration date, the greater is the put option value, other things equal.•The greater the variability of the currency, the greater is the put option value, other things equal.10. Speculating with Currency Call Options. Randy Rudecki purchased a call option on Britishpounds for 0.02 euros per unit. The strike price was 1.45euros, and the spot rate at the time the option was exercised was 1.46 euros. Assume there are 31,250 units in a British pound option. What was Randy’s net profit on this option?ANSWER:Profit per unit on exercising the option = 0.01 eurosPremium paid per unit = 0.02 eurosNet profit per unit = –0.01 eurosNet profit per option = 31,250 units × (–0.01 euros) = –312.50 euros11. Speculating with Currency Put Options. Alice Duever purchased a put option on dollarsfor £0.04 per unit. The strike price was £0.55, and the spot rate at the time the dollar option was exercised was £0.63. Assume there are 50,000 units in a US dollar option. What was Alice’s net profit on the option?ANSWER:Profit per unit on exercising the option = £0.00 option not exercisedPremium paid per unit = £0.04Net profit per unit = - £0.04Net profit for one option = 31,250 units × $.17 = -£1,25012. Selling Currency Call Options. Mike Suerth sold a call option on Canadian dollars for£0.01 per unit. The strike price was £0.42, and the spot rate at the time the option was exercised was £0.46. Assume Mike did not obtain Canadian dollars until the option was exercised. Also assume that there are 50,000 units in a Canadian dollar option. What was Mike’s net profit on the call option?ANSWER:Firstly, the call option will be exercisedPremium received per unit = £0.01Amount per unit received from selling C$ at strike = £0.42Amount per unit paid when purchasing C$ = £0.46Net profit per unit = -£0.03Net Profit = 50,000 units × (–£0.03) = –£1,50013. Selling Currency Put Options. Brian Tull sold a put option on Canadian dollars for £0.02per unit. The strike price was £0.42, and the spot rate at the time the option was exercised was £0.40. Assume Brian immediately sold off the Canadian dollars received when the option was exercised. Also assume that there are 50,000 units in a Canadian dollar option. What was Brian’s net profit on the put option?ANSWER:Firstly, the put option will be exercisedPremium received per unit = £0.02Amount per unit received from selling C$ at spot = £0.40Amount per unit paid for C$ = £0.42Net profit per unit = £0.0014. Forward versus Currency Option Contracts. What are the advantages and disadvantagesto an MNC that uses currency options on euros rather than a forward contract on euros to hedge its exposure in euros? Explain why an MNC use forward contracts to hedge committed transactions and use currency options to hedge contracts that are anticipated but not committed. Why might forward contracts be advantageous for committed transactions, and currency options be advantageous for anticipated transactions?ANSWER: A currency option on euros allows more flexibility since it does not commit one to purchase or sell euros (as is the case with a euro futures or forward contract). Yet, it does allow the option holder to purchase or sell euros at a locked-in price.The disadvantage of a euro option is that the option itself is not free. One must pay a premium for the call option, which is above and beyond the exercise price specified in the contract at which the euro could be purchased.An MNC may use forward contracts to hedge committed transactions because it would be cheaper to use a forward contract (a premium would be paid on an option contract that has an exercise price equal to the forward rate). The MNC may use currency options contracts to hedge anticipated transactions because it has more flexibility to let the contract go unexercised if the transaction does not occur.15. Speculating with Currency Futures. Assume that the euro’s spot rate has moved in cyclesover time. How might you try to use futures contracts on euros to capitalize on this tendency? How could you determine whether such a strategy would have been profitable in previous periods?ANSWER: Use recent movements in the euro to forecast future movements. If the euro has been strengthening, purchase futures on euros. If the euro has been weakening, sell futures on euros.A strategy’s profitability can be determined by comparing the amount paid for each contractto the amount for which each contract was sold.We need to note that currencies do not move in patterns, it would be noticed by other traders!16. Hedging with Currency Derivatives. Assume that the transactions listed in the first columnof the following table are anticipated by UK firms that have no other foreign transactions.Place an “X” in the table wherever you see possible ways to hedge each of the transactions.a. George ltdplans to purchase Japanese goods denominated in yen.b. Harvard ltd sold goods to Japan, denominated in yen.c. Yale plc has a subsidiary in Australia that will be remitting funds to the U.S. parent.d. Brown ltd needs to pay off existing loans that are denominated in Canadian dollars.e.Princeton ltd may purchase a company in Japan in the near future (but the deal may notgo through).ANSWER:Forward Contract Futures Contract Options ContractForward Forward Buy Sell Purchase Purchase Purchase Sale Futures Futures Calls Putsa.X X Xb. X X Xc. X X Xd. X X Xe. X17. Price Movements of Currency Futures. Assume that on November 1, the spot rate of the British pound was £0.63 and the price on a December futures contract was £0.64. Assume that the pound depreciated during November so that by November 30 it was worth £0.60.a. What do you think happened to the futures price over the month of November? Why?ANSWER: The December futures price would have decreased, because it reflects expectations of the future spot rate as of the settlement date. If the existing spot rate is £0.60, the spot rate expected on the December futures settlement date is likely to be near £0.60 as well. As you get closer to the maturity date so the difference between buying at spot and buying using a futures decreases, so as the law of one price dictates, the price should be nearly the same for nearly the same service.b. If you had known that this would occur, would you have purchased or sold a Decemberfutures contract in pounds on November 1? Explain.ANSWER: You would have sold futures at the existing futures price of £0.64. Then as the spot rate of the pound declined, the futures price would decline and you could close out your futures position by purchasing a futures contract at a lower price. Alternatively, you could wait until the settlement date, purchase the pounds in the spot market at £0.60, and fulfill the futures obligation by delivering pounds at the price of £0.64 per dollar.18. Speculating with Currency Futures. Assume that a March futures contract on Mexicanpesos was available in January for $.09 per unit. Also assume that forward contracts were available for the same settlement date at a price of $.092 per peso. How could speculators capitalize on this situation, assuming zero transaction costs? How would such speculative activity affect the difference between the forward contract price and the futures price?ANSWER: Speculators could purchase peso futures for $.09 per unit, and simultaneously sell pesos forward at $.092 per unit. When the pesos are received (as a result of the futures position) on the settlement date, the speculators would sell the pesos to fulfill their forward contract obligation. This strategy results in a $.002 per unit profit.As many speculators capitalize on the strategy described above, they would place upward pressure on futures prices and downward pressure on forward prices. Thus, the difference between the forward contract price and futures price would be reduced or eliminated.19. Speculating with Currency Call Options. LSU Corp. purchased Canadian dollar calloptions for speculative purposes. If these options are exercised, LSU will immediately sell the Canadian dollars in the spot market. Each option was purchased for a premium of $.03 per unit, with an exercise price of $.75. LSU plans to wait until the expiration date before deciding whether to exercise the options. Of course, LSU will exercise the options at that time only if it is feasible to do so. In the following table, fill in the net profit (or loss) per unit to LSU Corp. based on the listed possible spot rates of the Canadian dollar on the expiration date.ANSWER:Possible Spot Rate Net Profit (Loss) perof Canadian Dollar Unit to LSU Corporationon Expiration Date if Spot Rate Occurs$.76 –$.02.78 .00.80 .02.82 .04.85 .07.87 .0920. Speculating with Currency Put Options. Auburn ltd has purchased Canadian dollar putoptions for speculative purposes. Each option was purchased for a premium of £0.02 per unit, with an exercise price of £0.48 per unit. Auburn ltd will purchase the Canadian dollars just before it exercises the options (if it is feasible to exercise the options). It plans to wait until the expiration date before deciding whether to exercise the options. In the following table, fill in the net profit (or loss) per unit to Auburn ltd based on the listed possible spot rates of the Canadian dollar on the expiration date.Possible spot rate on Canadian dollar on expiration dateNet profit (loss) perunit to Auburnltd£0.42 0.04£0.44 0.02£0.46 0.00£0.48 -0.02£0.50 -0.02£0.52 -0.0221. Speculating with Currency Call Options. Bama plc has sold dollar call options for speculative purposes. The option premium was £0.04 per unit, and the exercise price was £0.54. Bama will purchase the dollars on the day the options are exercised (if the options are exercised) in order to fulfill its obligation. In the following table, fill in the net profit (or loss) to Bama plc if the listed spot rate exists at the time the purchaser of the call options considers exercising them.Possible spot rate at the time the purchaser of the Call option(Americanstyle) considersexercising themNet profit (loss) perunit to BamaCorp.£0.480.04 £0.500.04 £0.520.04 £0.54 0.04 £0.560.02 £0.580.00 £0.60-0.0222. Speculating with Currency Put Options. Bulldog ltd has sold Australian dollar put optionsat a premium of £0.01 per unit, and an exercise price of £0.42 per unit. It has forecasted the Australian dollar’s lowest level over the period of concern as shown in the following table. Determine the net profit (or loss) per unit to Bulldog ltd if each level occurs and the put options are exercised at that time.Possible value of Australian dollar Net profit (loss) perunit to Bulldogltd if valueoccurs.£0.38 -£0.03£0.39 -£0.02£0.40 -£0.01£0.41 £0.00£0.42 £0.0123. Hedging with Currency Derivatives. A U.S. professional football team plans to play anexhibition game in the United Kingdom next year. Assume that all expenses will be paid by the British government, and that the team will receive a check for 1 million pounds. The team anticipates that the pound will depreciate substantially by the scheduled date of the game. In addition, the National Football League must approve the deal, and approval (or disapproval) will not occur for three months. How can the team hedge its position? What is there to lose by waiting three months to see if the exhibition game is approved before hedging?ANSWER: The team could purchase put options on pounds in order to lock in the amount at which it could convert the 1 million pounds to dollars. The expiration date of the put option should correspond to the date in which the team would receive the 1 million pounds. If the deal is not approved, the team could let the put options expire.If the team waits three months, option prices will have changed by then. If the pound has depreciated over this three-month period, put options with the same exercise price would command higher premiums. Therefore, the team may wish to purchase put options immediately. The team could also consider selling futures contracts on pounds, but it would be obligated to exchange pounds for dollars in the future, even if the deal is not approved. Advanced Questions24. Risk of Currency Futures.Currency futures markets are commonly used as a means ofcapitalizing on shifts in currency values, because the value of a futures contract tends to move in line with the change in the corresponding currency value. Recently, many currencies appreciated against the dollar. Most speculators anticipated that dollars value would continue to decline. However, the Fed intervened in the foreign exchange market by immediately buying dollars with foreign currency, causing an abrupt halt in the decline in the value of the dollar. Participants that had sold dollar futures contracts for a range of other currencies incurred large losses.a. Explain why the central bank’s intervention caused such panic among currency futurestraders with buy positions.ANSWER: Futures prices on pounds rose in tandem with the value of the pound. However, when central banks intervened to support the dollar, the value of the pound declined, and so did values of futures contracts on pounds. So traders with long (buy) positions in these contracts experienced losses because the contract values declined.b. Some traders with buy positions may have responded immediately to the central bank’sintervention by selling futures contracts. Why would some speculators with buy positions leave their positions unchanged or even increase their positions by purchasing more futures contracts in response to the central bank’s intervention?ANSWER: Central bank intervention sometimes has only a temporary effect on exchange rates. Thus, the European currencies could strengthen after a temporary effect caused by central bank intervention. Traders have to predict whether natural market forces will ultimately overwhelm any pressure induced as a result of central bank intervention.25. Currency Straddles. Reska ltd has constructed a long euro straddle. A call option on euroswith an exercise price of £0.61 has a premium of £0.015 per unit. A euro put option has a premium of £0.008 per unit. Some possible euro values at option expiration are shown in the following table. (See Appendix B in this chapter.)a. Complete the worksheet and determine the net profit per unit toValue of Euro at option Expiration£0.50 £0.55 £0.60 £0.65Call -0.015 -0.015 -0.015 0.025Put 0.102 0.052 0.002 -0.008Net 0.087 0.037 -0.013 0.017Reska, ltd for each possible future spot rate.b. Determine the break-even point(s) of the long straddle. What are the break-even points of ashort straddle using these options?ANSWER: the cost is the combined premiums so 0.008 + 0.015 = 0.023, so the difference above and below the strike price of £0.61 must cosver this cost i.e. 0.61 + 0.023 = 0.633 and 0.61 – 0.023 = 0.587 so the breakeven points are £0.633 and £0.587. The short straddle for the same exercise price is the other side, the seller of the call and seller of the put. The breakeven points are the same.26. C urrency Straddles. Refer to the previous question, but assume that the call and putoption premiums are £0.01 per unit and £0.006 per unit, respectively. (See Appendix B in this chapter.)a. Construct a contingency graph for a long euro straddle.b. Construct a contingency graph for a short euro straddle.a.profitLossb.ANSWER:profitLoss27. C urrency Option Contingency Graphs. (See Appendix B in this chapter.) The current spot rate of the Singapore dollar (S$) is £0.34. The following option information is available: ☐ Call option premium on Singapore dollar (S$) = £0.015☐ Put option premium on Singapore dollar (S$) = £0.009☐ Call and put option strike price = £0.36☐ One option contract represents S$70,000.Construct a contingency graph for a short straddle using these options.ANSWER:profitLoss28. Speculating with Currency Straddles. Maggie Hawthorne is a currency speculator. She hasnoticed that recently the dollar has depreciated substantially against the euro. The current exchange rate of the dollar is 0.78 euro. After reading a variety of articles on the subject, she believes that the dollar will continue to fluctuate substantially in the months to come.Although most forecasters believe that the dollar will depreciate against the euro in the near future, Maggie thinks that there is also a good possibility of further appreciation. Currently, a call option on dollars is available with an exercise price of 0.80 euro and a premium of 0.04 euro. A dollar put option with an exercise price of 0.80 euro and a premium of 0.03 euro is also available. (See Appendix B in this chapter.)a. Describe how Maggie could use straddles to speculate on the dollar’s value.b. At option expiration, the value of the dollar is 0.90 euro. What is Maggie’s total profit or lossfrom a long straddle position?c. What is Maggie’s total profit or loss from a long straddle position if the value of the dollar is0.60 euro at option expiration?d. What is Maggie’s total profit or loss from a long straddle position if the value of the dollar atoption expiration is still 0.78 euro?e. Given your answers to the questions above, when is it advantageous for a speculator to engagein a long straddle? When is it advantageous to engage in a short straddle?ANSWERa.Since Maggie believes the dollar will either appreciate or depreciate substantially, shemay consider purchasing a straddle on dollar.b.Per UnitSelling Price of $ 0.90 euro– Purchase price of $ -0.80 euro– Premium paid for call option -0.04 euro– Premium paid for put option -0.03euro= Net profit 0.03 euroc.Per UnitSelling Price of € 0.80 euro– Purchase price of € -0.60 euro– Premium paid for call option -0.04 euro– Premium paid for put option -0.03euro= Net profit 0.17 eurod.Per UnitSelling Price of € 0.80– Purchase price of € 0.78– Premium paid for call option -0.04 euro– Premium paid for put option -0.03euro= Net profit -0.05 euroe. It is advantageous for a speculator to engage in a long straddle if the underlying currency isexpected to fluctuate drastically, in either direction, prior to option expiration. This is because the advantage of benefiting from either an appreciation or depreciation is offset by the cost of two option premiums. It is advantageous for a speculator to engage in a short straddle if the underlying currency is not expected to deviate far from the strike price prior to option expiration. In that case, the speculator would collect both premiums, and the loss associated with either the call or the put option is minimal.。
Questions of The Giver
I came across to this passage recently.in my humble opinion,I guess it will do favour to our learning of “The Giver”,so I decided to share it with all the members in this QQ group . Thank you for your continuing support to this QQ group.Chapter Questions and AnswersChapter 1:1. What was the unidentified aircraft at the beginning of the story? (a pilot-in-training that made an error)2. What did they do with the pilot? (released him)3. What is the main character’s name? (Jonas)4. What was his best friend’s name? (Asher)5. What month did the story begin? (almost December)6. What was the ritual that Jonas’s family did at the end of their evening meal?(telling of feelings)7. What was Jonas’s father’s job? (a nurturer: responsible for all the physical andemotional needs for every newchild)8. How many children could each family have? (2: one girl and one boy)9. What was Jonas apprehensive about? (the Ceremony of Twelve)Chapter 2:1. People receive their babies at what ceremony? (The Ones)2. What was the name of the baby that the father was so concerned about? (Gabrielor Gabe)3. What was Jonas’s sister’s name? (Lily)4. How old did you have to be to get your first bicycle? (9)5. What rule was almost always broken by the community and wasn’t takenseriously? (Older brothers and sisters secretly taught the younger ones to ride abicycle)6. What is the most important job in the community? (the Receiver or Committee ofElders)7. Why was the Ceremony of Twelves the most important ceremony? (people weregiven their Life Assignment)8. How did their lives change after the Ceremony of 12’s? (no recreation time, beingtrained)9. What was Lily’s comfort object? (stuffed elephant)10. What was Jonas’s comfort object? (a bear)----------------------- Page 2-----------------------Chapter 3:1. What was so different about the newchild? (He had pale eyes like Jonas. Mostcitizens had dark eyes.)2. What was the newchild’s comfort object? (hippo)3. How many years could you serve as a birth mother? (3 years or 3 births)4. What did you do after being a birth mother? (became laborers)5. What had Jonas taken from the Recreation Area and was reminded by publicannouncement that he was not to do that? (an apple)6. What was it about the apple that concerned Jonas? (The appearance of it changedfor a brief second three or four times.)7. What were Jonas and Asher doing to the apple? (tossing it back and forth)8. Why was the new child, Gabriel, staying with Jonas’s family unit? (The fatherwas concerned about him. He was fussy and didn’t seem to be developing as fast as the others. He was trying to avoid the possibility of releasing him.)Chapter 4:1. What did Benjamin do for his volunteer hours? (worked at the RehabilitationCenter)2. What did Lily do for her volunteer hours? (worked at the Childcare Center)3. Where did Asher and Fiona work? (in the House of Old)4. What did Jonas help do at the House of Old? (bathe old people)5. What celebrations did they have at the House of Old? (the release of individualpatients)6. What do they do at the celebrations? (the telling of the life, toast, cheers, chantingof anthem, and lovely goodbye speeches)7. Where do they go when one has been released? (no one knows)8. How did Roberto look when he walked through the door of the Releasing Room?(He bowed to them and had a look of pure happiness on his face.)Chapter 5:1. What was the morning ritual for Jonas’s family? (the telling of dreams)2. What dream did Jonas tell his family he had? (He wanted Fiona to get in the tubso he could bathe her.)3. The mother had an explanation for the dream. What was it? (His first feelings of“stirrings.”4. What was the treatment? (to take pills)5. Who all has to take these pills? (Anyone who has stirrings. Eventually, everyone has to take the pills.)6. How long does one have to take these pills? (Until one enters the House of Old)7. How did Jonas feel about taking the pills? (He was proud to have joined thosewho are taking the pills.)8. How did Jonas feel about the stirrings? (He found them pleasurable, and wishedhe could feel them again.)----------------------- Page 3-----------------------Chapter 6:1. Fours, fives, and sixes had to wear jackets that were buttoned down their backs.What was that to teach them? (interdependence)2. Sevens wore a jacket that was buttoned down the front. What did that represent? (the first sign of independence)3. Nines got their first bicycle. What did that represent? (moving gradually out tothe community, away from the protective family unit)4. Why was a replacement child given for the four year old Caleb? (He had fallen ina river and died.)5. Lily went through the Eights ceremony. What did the pockets on her jacketrepresent? (that she was old enough to keep track of her own things)6. What was special about turning 10? (children got their hair cut)7. If you wanted to leave the community, where would you go? (to Elsewhere, to bereleased)8. How did people get a spouse? (Spouses were matched after being carefullymonitored by the Committee of Elders.)Chapter 7:1. What was Jonas’s number? (19, technically 11-19)2. At what age would your age no longer matter? (12)3. Why did Asher get smacked a lot when he was a three? (He kept saying “smack”instead of “snack.”)4. Why did Jonas get so upset during the Ceremony of 12? (His turn was skippedover when giving assignments.)5. What was Asher’s assignment? (Caretaker in House of the Old)6. What reason did Jonas think was why he was skipped? (He must have donesomething wrong.)7. What was Jonas’s reaction? (tried to make himself smaller in his seat)Chapter 8:1. Jonas had not actually been assigned, but he was ______________. (selected)2. What was Jonas to be selected for? (Receiver of Memory)3. Who will train Jonas? (the current Receiver of Memory)4. The characteristics for a Receiver of Memory are intelligence, integrity, and________________. (courage, wisdom, or the capacity to see beyond)5. How did Jonas respond? (unsure, confused at first, but agreed that he had thesequalities)6. When he looked out at the audience, what happened? (something changed)7. How did the audience respond to Jonas left standing on the stage (They chantedhis name.)8. Why was he filled with fear? (He did not know what this new role would bring orwhat it meant.)----------------------- Page 4-----------------------1. Why did things seem so tense for Jonas after the ceremony? (People seem to betreating him differently.)2. What kind of job did Jonas get? (Receiver of Memory, the most important job ofthe community)3. What happened to the girl that was supposed to have been trained for the Receiverof Memory job? (She failed – they don’t know what happened to her – shedisappeared.)4. What was in Jonas’s instruction folder? (One sheet – 8 instructions)5. How much recreation time was he allowed? (none)6. What was the final rule on his sheet of instructions? (You may lie.)7. Was he allowed medication? (Only if it was not related to his training.)8. What realization struck him? (Everyone might be lying.)Chapter 10:1. What was different about the bikes after the Twelves Ceremony? (the name platewas changed to citizen-in-training)2. Why was the Receiver of Memory’s doors locked? (He didn’t want to bedisturbed by foolish things, he needed to concentrate.)3. How was the furniture different in the office? (It wasn’t standardized like thecommunity’s furniture.)4. Why was Jonas so surprised to see all the books in the office? (He’d never seen abook, except for a dictionary, community map, and Rules book.)5. What memories did the Receiver want Jonas to have? (memories of the wholeworld)6. What analogy did the Receiver compare his life to? (going down a hill on a sled indeep snow)7. What did Jonas have to do to get his first memory? (take his tunic off, lay facedown on the couch)8. What memory did the Receiver give to Jonas? (snow)Chapter 11:1. For the first time, Jonas experienced the feel of ___________. (snow)2. He felt himself sitting on a _________. (sled)3. He was on top of a mound, or __________. (hill)4. What happens to the memory once the Giver gives it away to Jonas? (The Giverno longer has the memory)5. Why was there no longer snow? (Climate Control)6. Why did the leaders go to “sameness?” (practical, convenient)7. The second memory was warm and comforting. What was it? (sunshine)8. What was the last memory given to Jonah in this chapter? (sunburn)----------------------- Page 5-----------------------1. What dream did Jonas continue having? (riding down a hill on a sled)2. Why did Jonas feel uncomfortable listening to all the twelves about their first dayof training? (because he was not allowed to discuss his)3. What weird thing keeps happening to Jonas? (things change for an instant)4. The Giver told him that Jonas was experiencing ___________. (the color, red)5. Why did colors disappear in their society? (the people made the choice to go tosameness, did away with differences)6. To help Jonas understand the concept of color, the Giver wants to give him thememory of a ____________. (rainbow)7. Does Fiona like her new job? (yes)8. What red things has Jonas seen so far? (apple, Fiona’s hair, books, sled)Chapter 13:1. Why was the community without color? (no choices, sameness, scientists changedgenes to make everything look flat and hueless)2. Why couldn’t the community have choices? (they might make a mistake)3. Jonas tried to get Asher to see the color ________ in geraniums. (red)4. What horrible memory did the Giver give to Jonas this time? (an elephant killedfor its tusks and the baby elephant crying for its mama)5. Why would it be difficult for Jonas to have a spouse? (He couldn’t really share hislife with her.)6. What happened 10 years ago? (When the Receiver failed, the memories werereleased out into the community.)7. Why was it important that the Receiver keep all the memories? (so that thecitizens wouldn’t have to bear the pain)8. Jonas told the Receiver to start giving him some painful memories? Why? (tolighten the Receiver’s load because he was in so much pain)Chapter 14:1. How was the second snow/sled experience different from the first? (colder,steeper, not falling as thickly, hard, bluish ice, runners wouldn’t slide, terrified, felt pain from a broken leg)2. Was he given any medications for the pain? (no)3. Every day, Jonas was given a memory of pain, but ended with a________________. (a color-filled memory of pleasure)4. Why does the Receiver have to hold all the painful, terrible memories? (forwisdom)5. Why didn’t the elders decide to allow birthmothers have four babies instead ofthree? (because of the memory of hunger)6. What was Gabriel’s main problem? (He was fretful at night.)7. What did they do when a birthmother had twins? The smaller one was released.)8. How did Jonas calm down Gabriel? (He gave him a memory of sailing.)----------------------- Page 6-----------------------Chapter 15:1. What was wrong with the Giver? (He was suffering from the pain of too manyhorrible memories.)2. What was the memory? (war)Chapter 16:1. What were some of the good memories that were given to Jonas? (a birthdayparty, visited museums, horseback riding, animal/human bonds)2. What was the Giver’s favorite memory that was given away? (Christmas, family, grandparents)3. What new feeling did Jonas get to experience? (love)4. Why did Jonas feel that love would be risky? (order would fall apart)5. What happened when Gabriel was taken away from Jonas? (Gabe cried again)6. What did Jonas do at the end? (threw his pill away)Chapter 17:1. What has happened to Jonas since he has stopped taking his pills? (the stirringshad returned)2. What did Jonas want to do on his unexpected holiday? (play, ride his bike)3. He found his friends. What were they playing? (war)4. What happened with the war game? (Jonas was upset, couldn’t play, the othersdecided to stop playing and left)5. What would the father do the next day when the identical twins were born?(weigh them, keep the heavier one, release the other one)6. How does the father describe the release? (cleans him up and gets him comfy,performs a small ceremony of Release, then waves bye bye)7. Who takes the baby when it is released, according to father? (somebody fromElsewhere)8. What job did mother think would fit Lily? (storyteller)Chapter 18:1. What was the last Receiver’s-in-training name? (Rosemary)2. What was the cause of her failure? (couldn’t bear the pain of the memories thatcreated anguish)3. Where did she go? (asked to be released)4. What happened to the memories when Rosemary died? (They came back to thepeople.)5. For the first time, the community had memories which caused them to have____________. (feelings)6. What did the Giver do to help the people? (nothing, he was devastated)7. Why did the Giver keep telling Jonas to stay away from the river? (He didn’t wanthim to die because the memories would go to the people.)8. How does Jonas deal with the memories? (He relies on the Giver to help him.)----------------------- Page 7-----------------------Chapter 19:1. Jonas decided that he wanted to watch a __________. (release)2. How was Jonas able to watch one? (He was shown a video of the release of thetwin.)3. Where did Jonas’s father stick the needle into the newborn twin? (on top offorehead)4. What does it mean to be released? (you are killed)5. Where did father place the baby? (in a carton)6. How was Rosemary released? (She injected herself.)7. What was Jonas’s reaction to all of this? (He wanted to cry and throw up.)Chapter 20:1. Jonas was very upset when he figured out that to be “released” meant to be_____________. (killed)2. Where did he spend that night? (with the Giver)3. Who all in the community gets released? (one twin, the old, those who ask, thosewho break rules 3 times)4. Jonas and the Giver came to the conclusion that the community needed to____________. (change)5. What was the plan? (Jonas would run away to Elsewhere.)6. What time of day or night would Jonas leave? (middle of night)7. What would the Giver tell the community happened to Jonas? (fell into the river)8. Who is the Giver’s daughter? (Rosemary)Chapter 21:1. What decision was made about Gabriel? (to be released)2. What crimes did Jonas commit when he left? (leaving at night, stealing food, stole father’s bicycle, took Gabriel)3. What did they do the first day after breakfast? (hid and slept)4. What time of day did Jonas and Gabe travel? (at night)5. Why couldn’t the search planes see them? (They don’t see color, so they blended in with their surroundings.)6. Why did Jonas make himself and Gabe cold as the search planes hunted for them? (to throw the heat detectors off)7. How did Jonas know that the community was starting to give up the search? (The search planes were coming more infrequently.)----------------------- Page 8-----------------------Chapter 22:1. How did the landscape change? (narrow, bumpy roads)2. Now that the fear of searchers was gone, what did Jonas fear now? (the unknown)3. What had Gave mistaken in the air? (He thought a bird was a plane.)4. There was a desperate fear building in him. What was it? (He was afraid that he and Gabe would starve.)5. Did Jonas want to return to the community? (not really)6. What part of the body did Jonas hurt? (his ankle)7. Why were Jonas and Gabe crying? (They were cold, wet, hungry, weak)8. What other reason was Jonas crying? (He was afraid that he would no longer beable to save Gabriel.)Chapter 23:1. How did Jonas try to warm up Gabe? (He gave him a memory of sunshine.)2. Why was it so difficult to travel? (It was snowing heavily.)3. Why did he suddenly become happy? (He was remembering happy times – hisfamily, the Giver)4. What was waiting for him at the top of the hill? (a sled)5. What was the first thing that Jonas saw in Elsewhere? (Christmas lights)6. What did he hear for the first time? (music)7. How did he know this place would take care of Gabe and him? (He felt it, anunknown feeling)8. What do you think happened? (answers vary)。
(正文答案)小妇人
Level 4 Little Women< Answer Key >Chapter 1Preview Questions1. I think the little women will be girls who are friends or sisters.2. Yes, I think it is easier to be poor if you have never been rich.3. No, I don’t have any sisters.Review Questions1. The girls’ father was away from home helping the army.2. Beth is thirteen years old.3. Jo wrote the play that the girls performed at Christmas.Chapter 2Preview Questions1. Yes, I think Jo and Laurie will become friends.2. I think Meg will become Mr. Laurence’s special friend.3. I think Meg and Jo both work as teachers or in a store.Review Questions1. Amy wanted to be Susie Perkins because she saw that Susie was wearing a very beautiful ring and she wanted to wear one too.2. Yes, Aunt March liked the book that Jo was reading because she made her go back to the beginning and read it again.3. Mr. Laurence gave Beth a small piano.Chapter 3Preview Questions1. No, teachers should never hit students.2. The best way to control anger is to stay calm and figure out a solution to the problem that is making you angry.3. No, you do not need to be rich to be happy.Review Questions1. Amy got into trouble at school because she had limes in her desk and that was not allowed.2. Jo was angry with Amy because Amy threw Jo’s precious book of stories into the fire.3. Meg’s friends thought that Mrs. March was making plans for Meg to marry Laurie because his grandfather was rich.1Preview Questions1. If I did not have any work to do, I would visit my friends and travel around the world.2. If nobody did any work, nothing would get done and maybe then bad things would happen.3. Yes, I have rowed a boat and it was not easy.Review Questions1. The girls did not enjoy not having any work to do. By the end of the week, they were bored with having no work to do.2. Beth always got the letters from the letter box.3. Mr. Brooke is Laurie’s teacher.Chapter 5Preview Questions1. My dream for my future is to have a good job and live in an interesting city.2. In this chapter, I think some of the girls may have some dreams of their own. Meg may dream of marrying a good man. Jo may dream of becoming a writer. Beth may dream of becoming a pianist, and Amy may dream of becoming an artist.3. I think some of the disappointments may be things having to do with the girl’s futures.Review Questions1. Jo’s hopes and dreams were to have a lot of horses and books and lots of time to write.2. Marmee went to Washington because she got a telegram that said Mr. March was sick and she should come to the hospital where he was.3. Jo got all of her hair cut off and sold it to get some money to give to Marmee.Chapter 6Preview Questions1. Yes, I think Mr. March will get better.2. Yes, I think Marmee will come home.3. I think Mr. March will return home to his family.Review Questions1. Beth got sick from visiting the family with the sick children. She got scarlet fever from them and became very ill.2. Laurie asked Marmee to come home.3. Amy wanted to wear the ring that Aunt March gave her because she said it would help her remember not to be selfish, just like Beth.2Preview Questions1. Yes, I think Beth will get better.2. Yes, I think Mr. March will get better.3. Yes, I think Meg will marry Mr. Brooke.Review Questions1. Meg was angry with Jo because she thought that Jo was playing a trick on her by sending her letters from Mr. Brooke.2. Laurie wrote the love letters that Meg received.3. Aunt March got angry with Meg because she didn’t approve of Meg marrying Mr. Brooke because he wasn’t rich.Chapter 8Preview Questions1. Yes, I think Mr. Brooke has saved enough money to marry Meg.2. No, I don’t think Aunt March will give Meg any presents for her wedding.3. I think Laurie will make his grandfather happy by agreeing to do something that his grandfather wants him to do.Review Questions1. Aunt March bought presents for Meg by giving money to Aunt Carrol, who would buy the presents and give them to Meg as if they were from her and not Aunt March.2. After the wedding and the party, John and Meg went to their little house.3. Jo spent the money she won in the competition by sending Marmee and Beth on a holiday at the beach.Chapter 9Preview Questions1. I think Meg will be a very good wife.2. I think Amy will go to Europe with her aunt.3. I think Meg and Amy will have problems with Aunt March.Review Questions1. No, John should have asked Meg first if it was OK to bring a guest home for lunch.2. Meg sold the expensive dress to Sallie and used the money to buy John the coat that he wanted.3. Aunt Carrol decided to take Amy to Europe instead of Jo because Jo said she didn’t like people doing favors for her and that she thought French was a silly language.Chapter 103Preview Questions1. No, I don’t think Jo will go to Europe.2. Sarah is my best friend. She is very kind and sweet.3. You can tell a stranger is a good person by the way they behave towards you and others.Review Questions1. Amy met Fred and Frank Vaughn when she was in London.2. Jo thinks Beth is sad because she loves Laurie and maybe Laurie doesn’t love her back.3. Jo likes Mr. Bhaer because he is kind and smart and a very good teacher.Chapter 11Preview Questions1. Yes, I think Laurie will ask Jo to marry him, but I don’t think Jo will agree.2. Yes, I think your best friend can become your husband or wife.3. For a wife, I think her husband and children are equally important.Review Questions1. Jo refused to marry Laurie because she didn’t love him and she said that they would not make a good married couple. I think she was right because you shouldn’t marry someone that you don’t love.2. Jo took Beth to the beach for a holiday.3. Meg’s mother told her to make her home nice for John and ask him to help with the children. This way, he would be around more and the house would be happy again.Chapter 12Preview Questions1. No, I don’t think Beth will get better.2. No, you can’t make somebody love you.3. No, I don’t think Jo will learn to love Laurie.Review Questions1. Amy told Laurie that he should do something that would make Jo love him.2. Laurie tried to write a requiem and an opera for Jo because he thought it would make her love him.3. Jo stopped writing stories because she was busy doing things around the house and looking after her mother and father. She started writing stories again to make herself happy again.Chapter 13Preview Questions1. Yes, I think Jo is falling in love.2. I think Laurie and Amy will be coming home.43. I think Mr. Bhaer will visit Jo.Review Questions1. Laurie and Amy got married in Paris.2. Yes, Laurie still loved Jo, but he loved her like a brother loves a sister.3. Mr. Bhaer often went to see the March family because he wanted to see Jo.Chapter 14Preview Questions1. Yes, I think that Jo will marry Mr. Bhaer.2. No, it doesn’t matter if your husband or wife is a lot older than you as long as you love him or her.3. Yes, it matters if your dreams don’t come true.Review Questions1. Jo wore her best clothes when she went for walks in case she saw Mr. Bhaer, who would walk with her.2. Jo turned Aunt March’s house into a school for boys.3. The girls’ dreams did not all come true, but they were very happy.Level 4 Little Women < Summaries >Chapter 15。
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Q5.5
If the price of a movie rises 3 percent and, as a result, the quantity demanded of video rentals increases 6 percent, then the cross elasticity of demand is 1. 2. 2. 1/2. 3. − −1/2. 4. −2. 5. None of the above answers is correct.
Robin Bade / Michael Parkin Microeconomics, Second Edition © 2005 Pearson Addison-Wesley. All rights reserved.
Q5.4
If the price of a DVD increases from $12 tosupplied increases from 100,000 per hour to 118,000 per hour, using the midpoint formula the elasticity of supply equals 1. 0.33. 2. 2.94. 3. 3.08. 4. 0.23. 5. None of the above answers is correct.
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Q5.2
If a 2 percent change in price leads to a ____ percent change in the quantity demanded, then demand is ____. 1. 2; elastic 2. 1; unit elastic 3. 3; inelastic 4. 0; perfectly elastic 5. 1; inelastic Answer: 5
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Q5.6
For a good such as a big screen television set, the income elasticity would likely be 1. negative. 2. equal to zero. 3. positive and less than one. 4. positive and greater than one. 5. infinite. Answer: 4
Robin Bade / Michael Parkin Microeconomics, Second Edition © 2005 Pearson Addison-Wesley. All rights reserved.
Q5.6
For a good such as a big screen television set, the income elasticity would likely be 1. negative. 2. equal to zero. 3. positive and less than one. 4. positive and greater than one. 5. infinite.
Robin Bade / Michael Parkin Microeconomics, Second Edition © 2005 Pearson Addison-Wesley. All rights reserved.
Q5.2
If a 2 percent change in price leads to a ____ percent change in the quantity demanded, then demand is ____. 1. 2; elastic 2. 1; unit elastic 3. 3; inelastic 4. 0; perfectly elastic 5. 1; inelastic
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Q5.4
If the price of a DVD increases from $12 to $20 and the quantity of DVDs supplied increases from 100,000 per hour to 118,000 per hour, using the midpoint formula the elasticity of supply equals 1. 0.33. 2. 2.94. 3. 3.08. 4. 0.23. 5. None of the above answers is correct. Answer: 1
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Q5.1
If a substitute good is easy to find, then demand for a good is 1. elastic. 2. inelastic. 3. unit elastic. 4. more inelastic the more substitutes that can be found. 5. None of the above answers is correct because substitutes don’t have any effect on elasticity. Answer: 1
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Q5.3
For a product with a constant or gently increasing opportunity cost of producing additional units, as more is produced, we expect that 1. demand is price elastic. 2. supply is price elastic. 3. demand is price inelastic. 4. supply is price inelastic. 5. both demand and supply are price elastic Answer: 2
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Q5.3
For a product with a constant or gently increasing opportunity cost of producing additional units, as more is produced, we expect that 1. demand is price elastic. 2. supply is price elastic. 3. demand is price inelastic. 4. supply is price inelastic. 5. both demand and supply are price elastic
Robin Bade / Michael Parkin Microeconomics, Second Edition
© 2005 Pearson Addison-Wesley. All rights reserved.
Q5.5
If the price of a movie rises 3 percent and, as a result, the quantity demanded of video rentals increases 6 percent, then the cross elasticity of demand is 1. 2. 2. 1/2. 3. − −1/2. 4. −2. 5. None of the above answers is correct. Answer: 1
Q5.1
If a substitute good is easy to find, then demand for a good is 1. elastic. 2. inelastic. 3. unit elastic. 4. more inelastic the more substitutes that can be found. 5. None of the above answers is correct because substitutes don’t have any effect on elasticity.