Chapter_08

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Chap-08

Chap-08

Solution If the M bit is 0, it means that there are no more fragments; the fragment is the last one. However, we cannot say if the original packet was fragmented or not. A nonfragmented packet is considered the last fragment.
TCP/IP Protocol Suite
3
Figure 8.2
IP datagram
TCP/IP Protocol Suite
4
Figure 8.3
Service type or differentiated services
TCP/IP Protocol Suite
5
Note: The precedence subfield was designed, but never used in version 4.
TCP/IP Protocol Suite
9
Note: The total length field defines the total length of the datagram including the header.
TCP/IP Protocol Suite
10
Figure 8.4
Encapsulation of a small datagram in an Ethernet frame
TCP/IP Protocol Suite
14
EXAMPLE 2
In an IP packet, the value of HLEN is 1000 in binary. How many bytes of options are being carried by this packet?

07-chapter-08生育酚

07-chapter-08生育酚

(三)羟甲基化
HO
H CH3 H CH3
CH3
O
CH3
CH3
CH3

HCHO/acid
HO HOH2C
CH2OH
H CH3 H CH3
O
CH3
CH3

CH3 CH3
H2/Pd-C
HO H3C
CH3 H CH3 H CH3
O
CH3
CH3
CH3 CH3

在酸存在下,非α-生育酚与甲醛或多聚甲醛反应生成 非α-生育酚的羟甲基化物(8-7),然后催化氢化转化 成RRR-α-生育酚(8-1)。
项目
表8-1 美国FCC天然生育酚规格
RRR-α-生 育 酚 浓缩物
RRR-混 合 生 育 酚 浓 缩 物
高α-型
低α-型
总生育酚含量 ≥40.0%
≥50.0%
≥50.0%
RRR-α-生育酚占 ≥95.0% 总生育酚比例
≥50.0%
/
非RRR-α-生育酚 / 占总生育酚比例
≥20.0%
≥80.0%
RRR-α-生育酚(8-1)为淡黄色粘稠状液体,无 臭无味。熔点2.5~3.5 ℃,13.3 Pa下的沸点为 200~220 ℃,相对密度 0.950。比旋光度 +31.5 ( 辛烷)。最大吸收波长为292 nm。不溶于水,易 溶于乙醇,溶于丙酮、氯仿、乙醚和植物油中 。对热稳定,很容易被氧化,露置空气中被缓 慢氧化,有铁盐、银盐存在时氧化加快,遇光 则逐渐变深色。其它几种生育酚的物理性质与 α-生育酚相近。
第七章(教材第八章) RRR-α-生育酚的生产工艺原理
第一节 概述 第二节 混合生育酚的提取工艺 第三节 非α-生育酚的转型反应工艺原理及其过程 第四节 精制工艺 第五节 副产物的综合利用与溶剂的回收

chapter08_地面三维激光雷达点云分割与分类

chapter08_地面三维激光雷达点云分割与分类

图 8.4 模糊 C-均值聚类
(3) 均值飘移聚类(Mean-Shift)。
5
均值飘移聚类是基于密度的聚类算法,它没有假定聚类中心,均值漂移过 程不需要预先给出类别数目,而是根据点集自身的密度分布探测获得类簇,发 现任意形状的簇,在聚类过程中自动确定类别数。 对于一个欧式空间内的点集,无参密度估计方法根据一个点周围一个小区 域内点的分布情况来估计点集中该点位置的密度;类似的,均值飘移聚类对空 间中某一位置密度梯度的估计采用统计该位置周围小区域内的点的分布状况。 空间中任意位置梯度的方向即是密度增加最快的方向。均值飘移聚类根据梯度 将空间中的点沿梯度方向不断移动,直到梯度为零。最终散布在整个空间的点 移动到模式点的地方。每个这样的点是所有移动到它的点所覆盖的区域内密度 最大的点,该处的梯度为零。 Mean-shift 的 定 义 为 : 给 定 的 d 维 欧 式 空 间 R d , 对 于 点 数 据 集 = S {xi,,,, = i 1 2 … n} ,带有核函数 K ( x ) 和核窗口范围 h 的多元核密度估计函 数为: f (x ) = 1 nh d
N
∑u
i =1
N
m ij
(式 8-3)
u ij =
1
∑( x
p k =1
i
−cj
xi − c k
)
2 m −1
(式 8-4)
一般地,模糊聚类的算法可表述为: 1) 确定划分的类数 C ,设置迭代阈值 ε ; 2) 初始化模糊划分矩阵 µ ij ;
(t )
3) 根据模糊划分矩阵计算各类的类中心 c j ; 4) 根 据 目 标 函 数 J 的 约 束 , 更 新 模 糊 划 分 矩 阵 µ ij
6

Chapter 08 Wind Turbine Gearbox Technologies

Chapter 08   Wind Turbine Gearbox Technologies

1. Introduction
The reliability issues associated with transmission or gearbox-equipped wind turbines and the existing solutions of using direct-drive (gearless) and torque splitting transmissions in wind turbines designs, are discussed. Accordingly, a range of applicability of the different design gearbox design options as a function of the rated power of a wind turbine is identified. As the rated power increases, it appears that the torque splitting and gearless design options become the favored options, compared with the conventional, Continuously Variable Transmission (CVT), and Magnetic Bearing transmissions which would continue being as viable options for the lower power rated wind turbines range. The history of gearbox problems and their relevant statistics are reviewed, as well as the equations relating the gearing ratios, the number of generator poles, and the high speed and low speed shafts rotational speeds. Aside from direct-drive systems, the topics of torque splitting, magnetic bearings and their gas and wind turbine applications, and Continuously Variable Transmissions (CVTs), are discussed. Operational experience reveals that the gearboxes of modern electrical utility wind turbines at the MegaWatt (MW) level of rated power are their weakest-link-in-the-chain component. Small wind turbines at the kW level of rated power do not need the use of gearboxes since their rotors rotate at a speed that is significantly larger than the utility level turbines and can be directly coupled to their electrical generators. Wind gusts and turbulence lead to misalignment of the drive train and a gradual failure of the gear components. This failure interval creates a significant increase in the capital and operating costs and downtime of a turbine, while greatly reducing its profitability and reliability. Existing gearboxes are a spinoff from marine technology used in shipbuilding and locomotive technology. The gearboxes are massive components as shown in Fig. 1. The typical design lifetime of a utility wind turbine is 20 years, but the gearboxes, which convert the rotor blades rotational speed of between 5 and 22 revolutions per minute (rpm) to the generator-required rotational speed of around 1,000 to 1,600 rpm, are observed to commonly fail within an operational period of 5 years, and require replacement. That 20 year lifetime goal is itself a reduction from the earlier 30 year lifetime design goal (Ragheb & Ragheb, 2010).

Chapter08混合策略同时博弈II:非零和博弈

Chapter08混合策略同时博弈II:非零和博弈

混合策略同时博弈II:非零和博弈 和III:一般性讨论 Simultaneous-Move Games with Mixed Strategies II: Non-Zero-Sum Games and III: General Discussion 第8章 Chapter 08混合策略同时博弈:非零和博弈 Simultaneous-Move Games with Mixed Strategies: Non-Zero-Sum Games 在非零和博弈中,参与者之间没有明显的利益 冲突,也就没有普遍的理由来对对手隐藏其利 益所在。

In non-zero-sum games, player do not have clearly conflicting interests and have no general reason to want to conceal their interests from others. 因此,迷惑对手就不一定有道理。

As a result, there is no general argument for keeping the other player guessing.Slide 2由于不确定的信念导致的混合策略 Mixing Sustained by Uncertain Beliefs不过,由于是同时博弈,参与者可能不得不持 有对对手行动的某种不确定性的信念,因而也 就不能确定地给出自己的最优行动。

However, Simultaneous play can still lead players to have uncertain beliefs about the actions of a rival player and therefore to be uncertain about their own best actions.Slide 3哈里和萨莉能否会面? Will Harry Meet Sally?SALLY Starbucks Starbucks HARRY Local Latte 0, 0 2, 2 1, 1 Local Latte 0, 0Slide 4哈里和萨莉能否会面? Will Harry Meet Sally?Sally’s Payoffs2Local LatteSally’s best-response1Starbucks0 2/3Harry’s p-mix1Slide 5哈里和萨莉能否会面? Will Harry Meet Sally?Sally’s 1 q-mix2/33 Nash EquilibriaHarry’s best response02/3Harry’s p-mixSlide 61Sally’s best response哈里和萨莉能否会面? Will Harry Meet Sally?混合策略均衡下每个人的期望收益为2/3,小于任何 一个纯策略均衡(2或1)。

第08章 历史模拟法、情景分析和压力测试

第08章   历史模拟法、情景分析和压力测试
采用过去501天的历史数据来计算1天展望 期、99%置信度的VaR。
这里的样本区间长度、展望期和置信度是 市场风险管理中的一种“典型”选择。
8.1 方法论
具体步骤: 第1步:选定影响资产组合的风险源,如汇率、
股价、利率等,并收集这些市场变量最近501天 的数据;
第2步:将数据开始的第1天记为day0,数据开始 的第2天记为day1,以此类推;
24/69
8.4 产生分析情景
但在实际中,每10年发生一两次5个标准差的 市场变动并非罕见。
这一事实说明在风险管理过程中,假定市场变 化服从正态分布并不理想。
压力测试的关键是如何选择情景,我们接下来 考虑不同的选择方法。
25/69
8.4 产生分析情景
对单一变量进行压力测试
采用假定某一变量有很大变化而其他变量保持不 变的情景
8.4 产生分析情景
完善压力测试情景
管理人员要确认是否所有的不利情景都已在考 虑范围之内
这些情景不仅包括市场变量变化对金融机构自 身产品组合的即时效应,还要考虑市场变量的 变化对其它众多金融机构的冲击。
8.4 产生分析情景
案例1:
许多人声称,他们预见到美国房地产市场的泡沫会在2007年破灭,但 没有想到泡沫破裂的后果如此严重。
原因就在于:没有充分认识到许多金融机构会由此同时蒙受损失,从 而导致严重的信用风险和流动性风险。
8.4 产生分析情景
案例2:
LTCM的业务模式:持有流动性差的债券,卖空流动性好的债券。
俄罗斯对自身债务违约导致投资人一窝蜂涌向流动性好的债券:择优 而栖。
LTCM曾进行压力测试,但所考虑的只是对自身的冲击,未考虑其它对 冲基金在这一情形下的行为。
8.4 产生分析情景

Chapter08_模态分析初步2

Chapter08_模态分析初步2

3.频响函数的测量
1.4 分析系统: (1) 毫伏表、相位计、示波器、滤波器、频率计
(2) 频谱分析仪(模拟式、数字式):HP35665A、 HP3567A、HP3565S
(3) 虚拟设备(PC-Based软件和硬件集成,可视化虚拟分析 仪和显示仪表)
1.5 输出和记录设备: 计算机显示、磁盘、光盘、记录仪、打印机等。
3.频响函数的测量
压电陶瓷(Piezo-Ceramic)激振器:小型、高频(通常可高达 60kHz-180kHz)、推力(Force)小、行程(Stroke)小,位移和波形 (waveform)控制精确(微米级);
电动式(Electrical):频带宽(0-5.5kHz)、能量较大,推力可达吨级, 行程一般可达1至2英寸、位移和波形控制较精确(标准台失真 (distortion)可控制在10%以下),但特大推力困难,出于技术垄断和 军事目的20吨以上推力振动台美国限制对华出口;
电液伺服式(Hydro-Electric Servo):频带窄(0-500 Hz)、能量 大、推力大、行程大;
机械式(Mechanical):频带窄(10-100Hz)、行程一般数毫米、 噪音大、位移和波形控制不精确;
3.频响函数的测量
(2) 冲击激励(Impact Excitation): 力锤(Hammer),适用于小阻尼线性结构。还有夯锤、 落锤、摆式冲击锤、小火箭等;
a(t) A RMS
Time
2.2 自动正弦扫描激励(Auto-Swept Sine Excitation)
Tr
Time
3.频响函数的测量
2.3 随机激励(Random Excitation)
纯随机(Random),应采用汉宁窗(Hanning Window),难免泄漏 (Leakage)

Chapter 08 phonetics Chinese phoneme

Chapter 08 phonetics Chinese phoneme

[t5151m35m] [t5151m35m]
// : //
[aiæm goui tu ma:k‘it tudei] [aiæm goui tu ma:kit tudei] /k‘/ : /k/
三 普通话的音位系统
• 元音音位 6 个 • 辅音音位 22 个 • 声调音位 4 个 • 轻声音位 1 个 (不需任何符号标识)
bu (步) – tu (兔) [p] 跟 [t‘] 构成最小对立体。 凡是能作为最小独立体跟其他音素构 成对立的音素就成为一个独立的音位。
对立的音素示例
[kan51] 干 —— [ k‘an51] 看 [ti214] 挤 —— [ ty214] 举 [t‘an35] 坛 —— [ t‘a35] 堂
“去” [t‘y] “君”[tyn]
辅音音位及其变体
用 __ u 这个环境作为替换环境,可 以得到18个辅音音位: /p/ /t/ /t/ /ts/ // /m/ /p‘/ /t‘/ /t‘/ /ts‘/ /r/ /n/ /k/ /k/ /x/ /s/ /f/ /l/
辅音音位及其变体
[t] [t‘] [] [] 不能出现在 __ u 环境中
方案乙
[t]组可以跟[t]组合并成一组音位
国语罗马字和威妥玛拼音都是这样处理的
国语罗马字 威妥玛拼音
交敲消 招抄烧 jiau chiau shiau jau chau shau chiao ch'iao hsiao chao ch'ao shao
方案丙
[t]组独立为一组音位
汉语拼音方案和注音字母都是这样处理的。
“互补关系”用来归纳相同的音位,满足“互补关系” 的音素可以归纳为一个音位。但还要根据“相似 原则”来决定是否要归入一个音位。“互补”是分 布标准,“相似”是同一性标准。强调前者,音 位的总数就少;强调后者,音位的总数就多。 音位的最终分析结果要以系统性来整体权衡。

哈维罗森_财政学(第八版)英文课件Chapter_08

哈维罗森_财政学(第八版)英文课件Chapter_08

8-15
Uncertainty
Project X Benefit $1,000 0 Y $2,000 Probability 1.00 0.50 0.50 $1,000 EV $1,000
Certainty Equivalent
8-16
Are Reductions in Class Size Worth It?
8-5
Private Sector Project Evaluation
B2 C2 B3 + C3 BT CT + + ... + PV = B1 C1 + 2 T 1+ r (1 + r ) (1 + r )
Annual Net Return Year 0 1 2 3 R&D $1,000 600 0 550 Advertising -$1,000 0 0 1,200 R= 0 0.01 0.03 0.05 0.07 PV R&D $150 128 86 46 10 Advertising $200 165 98 37 -21
Government Discounting in Practice
8-10
Valuing Public Benefits and Costs
Market Prices Adjusted Market Prices shadow price Monopoly Taxes Unemployment Consumer Surplus
Da A0 A1 Pounds of avocados per year 8-11 Price per pound of avocados e
$2.89
b
d
Sa

Chapter08_PPT

Chapter08_PPT

Outline
CTime.vb
6
Returns standard string from universal string
2002 Prentice Hall.
All rights reserved.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
3
2002 Prentice Hall. All rights reserved.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
' Fig. 8.1: CTime.vb ' Represents time in 24-hour format. Class CTime Inherits Object
1
Chapter 8 – Object-Based Programming
Outline
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8 Classes 8.9 8.10 8.11 8.12 8.13 8.14 8.15 Introduction Implementing a Time Abstract Data Type with a Class Class Scope Controlling Access to Members Initializing Class Objects: Constructors Using Overloaded Constructors Properties Composition: Objects as Instance Variables of Other

chapter08反应堆的物理启动

chapter08反应堆的物理启动

保系统稳定并满足安全要求。
满功率运行
03
将反应堆提升至满功率运行状态,进行全面的性能测试和验证。
运行监控阶段
参数监控
对反应堆的运行参数进行实时监 控,确保各项参数在安全范围内
波动。
设备维护
定期对反应堆及其附属设备进行检 查和维护,确保设备的正常运行和 延长使用寿命。
应急准备
制定应急预案,组织应急演练,提 高应对突发事件的快速响应能力。
反应堆物理启动的重要性
确保反应堆的安全运行
通过物理启动,可以验证反应堆的设 计和计算,确保反应堆在各种工况下 的安全性和稳定性。
优化反应堆性能
通过物理启动,可以对反应堆的控制 系统、保护系统和辅助系统进行测试 和验证,确保它们在运行过程中能够 正常工作,并优化反应堆的性能。
反应堆物理启动的历史与发展
停堆与关闭阶段
功率降低
在反应堆的运行寿命结束或需要停堆时,逐步降低反应堆的功率 水平。
停堆操作
执行停堆操作,关闭反应堆的核分裂过程,同时继续监控相关运行 参数,确保安全。
废物处理与环境监测
对产生的核废料进行妥善处理,同时持续监测周围环境,确保放射 性物质得到有效控制。
04 反应堆物理启动的挑战与 解决方案
核能应用的拓展与推广
核能发电
核能发电是核能应用的重要领域之一,未来发展中,需要进一步推广核能发电技术,降低 核能发电成本,提高核能发电的竞争力。
核能供热
核能供热是利用核能进行供暖的一种方式,具有高效、环保、安全等优点。未来发展中, 需要进一步推广核能供热技术,满足人们不断增长的供暖需求。
核能海水淡化
启动过程中的控制问题
控制棒插入位置
控制棒在启动过程中的插入深度和位置对反 应堆的启动和运行至关重要,需要精确控制 。

宏观经济学 斯蒂芬威廉森chap08

宏观经济学 斯蒂芬威廉森chap08

Macroeconomics, 3e (Williamson)Chapter 8 A Two-Period Model: The Consumption-Savings Decision and Credit Markets1) C onsumption smoothing refers toA) t he tendency of all consumers to choose the same amount of current consumption.B) t he tendency of consumers to seek a consumption path over time that is smoother thanincome.C) t he tendency of consumers to seek an income path over time that is smoother thanconsumption.D) c onsumer's concerns about going heavily into debt.Answer: BQuestion Status: P revious Edition2) I ntertemporal decisions involve economic decisionsA) m ade within a given period of time.B) m ade in between two periods of time.C) i nvolving trade-offs across periods of time.D) t hat ignore concerns about the future.Answer: CQuestion Status: P revious Edition3) T he simplest device to analyze dynamic decisions is aA) o ne-period model.B) t wo-period model.C) m odel that includes only the number of years of a typical consumer's lifetime.D) c ontinuous time model.Answer: BQuestion Status: P revious Edition4) W e use a two-period model becauseA) t he business cycle has two phases: contraction and recovery.B) i t is the simplest dynamic model.C) w e want to make a distinction between young and old households.D) t his is the horizon of the politicians that formulate policy.Answer: BQuestion Status: N ew5) W e limit ourselves to two periods in the intertemporal model of the business cycle becauseA) w e need to concentrate on the two phases of the business cycle.B) w e can assume that people can live two periods of, say, 30 years.C) t his is all we need to emphasize the intertemporal trade-off.D) w e need an even number of periods.Answer: CQuestion Status: N ew6) F or all bonds to be indistinguishable,A) a ll consumers must never be expected to default on their debts.B) t he government must guarantee all bonds.C) a ll consumers must be identical.D) t hey must be traded through financial intermediaries.Answer: AQuestion Status: P revious Edition7) S avings in our model areA) d urable consumption.B) n on-durable consumption.C) p ostponed consumption.D) m oney.Answer: CQuestion Status: N ew8) A one-period bond is a promise to repayA) 1units of goods in the second period.+(1)rB) r units of goods in the second period.C) (1 +r) units of goods in the second period.D) t he original amount lent.Answer: CQuestion Status: P revious Edition9) T he consumer's lifetime budget constraint states thatA) t he present value of lifetime consumption must be equal to the present value oflifetime gross income.B) t he present value of lifetime consumption must be equal to the present value oflifetime disposable income.C) t he present value of lifetime consumption plus the present value of lifetime taxes to bepaid must be equal to the present value of lifetime income.D) t he present value of lifetime taxes to be paid by the consumer must be equal to thepresent value of government spending.Answer: BQuestion Status: P revious Edition10) T he endowment point is the consumption bundle in whichA) f irst-period consumption is equal to zero.B) s econd-period consumption is equal to zero.C) t he consumer finds the most utility.D) c onsumption is equal to disposable income in each period.Answer: DQuestion Status: P revious Edition11) T he endowment point is the consumption bundle in whichA) b oth consumptions are the same.B) c urrent consumption equals current output less current government expenses.C) n o savings occur.D) t he interest rate equals zero.Answer: CQuestion Status: N ew12) A t the endowment point, we have the property thatA) c = c'.B) c = y - t.C) y - t = y' - t'.D) y = y'.Answer: BQuestion Status: N ew13) I f we represents a two -period consumer's lifetime wealth and r denotes the real rate ofinterest, the vertical (future consumption) intercept of the consumer's budget line is equal toA) w e.B) (1 + r )we. C) (1)we r +. D) (1)r we+. Answer: BQuestion Status: P revious Edition14) I f we represents a two -period consumer's lifetime wealth and r denotes the real rate ofinterest, the horizontal (current consumption) intercept of the consumer's budget line is equal toA) w e.B) (1 + r )we. C) (1)we r +. D) (1)r we+. Answer: AQuestion Status: P revious Edition15) I f we represents a two -period consumer's lifetime wealth and r denotes the real rate ofinterest, the slope of the consumer's budget line is equal toA) r × we.B) - 1(1)r +. C) - (1)r we +. D) - (1 + r ).Answer: DQuestion Status: P revious Edition16) I f the interest rate increases, lifetime wealth (we )A) i ncreases.B) s tays constant.C) d ecreases.D) c hanges in an ambiguous way.Answer: CQuestion Status: N ew17) T o assure a well-defined solution to the consumers' intertemporal choice problems, we mustassume that consumers' preferences exhibit the properties thatA) c onsumers are all identical and that more is always preferred to less.B) m ore is preferred to less and that consumers prefer diversity.C) c onsumers like diversity and that more is sometimes preferred to less.D) m ore is sometimes preferred to less and that first-period consumption and second-period consumption are both normal goods.Answer: BQuestion Status: P revious Edition18) W e assume that the representative consumer's preferences exhibit the properties thatA) t hey are convex and that more is always preferred to less.B) m ore is always preferred to less and that each consumer has one strictly favoriteperiod of time for consumption.C) e ach consumer has one strictly favorite period of time for consumption and thatcurrent and future consumption are both normal goods.D) c urrent and future consumption are both normal goods and that the consumer likesdiversity in his or her consumption bundle.Answer: DQuestion Status: P revious Edition19) T he property of diminishing marginal rate of substitution follows from the property that theindifference curves areA) d ownward sloping.B) u pward sloping.C) b owed in toward the origin.D) b owed out from the origin.Answer: CQuestion Status: P revious Edition20) F or the consumer to be at an optimum, it must be the case thatA)MRS c,c' =1 (1)r +B) M RS c,c' =(1 +r)C)MRT c,c' =1 (1)r +D) M RT c,c' =(1 +r)Answer: BQuestion Status: P revious Edition21) A consumer is a borrower ifA) o ptimum current consumption is less than current disposable income.B) o ptimum current consumption is greater than current disposable income.C) f uture disposable income is greater than current disposable income.D) t he consumer's indifference curves are relatively steep.Answer: BQuestion Status: P revious Edition22) A consumer is a lender ifA) o ptimum current consumption is less than current disposable income.B) o ptimum current consumption is greater than current disposable income.C) c urrent disposable income is greater than future disposable income.D) t he consumer's indifference curves are relatively flat.Answer: AQuestion Status: P revious Edition23) F or a borrower in a (c,c') graph, the optimal consumption bundle isA) t o the left of the endowment point.B) t o the right of the endowment point.C) o n the endowment point.D) d ependent on other factors.Answer: BQuestion Status: N ew24) F or a lender in a (c,c') graph, the optimal consumption bundle isA) t o the left of the endowment point.B) t o the right of the endowment point.C) o n the endowment point.D) d ependent on other factors.Answer: AQuestion Status: N ew25) F or a household in a (c,c') graph, the optimal consumption bundle isA) t o the left of the endowment point.B) t o the right of the endowment point.C) o n the endowment point.D) d ependent on other factors.Answer: DQuestion Status: N ew26) A n increase in first-period income results inA) a n increase in first-period consumption, an increase in second-period consumption,and an increase in saving.B) a n increase in first-period consumption, a decrease in second-period consumption,and an increase in saving.C) a decrease in first-period consumption, an increase in second-period consumption,and an increase in saving.D) a n increase in first-period consumption, an increase in second-period consumption,and a decrease in saving.Answer: AQuestion Status: P revious Edition27) W ith higher future taxesA) c urrent consumption declines.B) c urrent consumption stays the same.C) c urrent consumption increases.D) c urrent consumption depends on other factors.Answer: AQuestion Status: N ew28) A temporary increase in income today leads toA) a small increase in current consumption.B) a large increase in current consumption.C) a small decrease in future consumption.D) a large decrease in future consumption.Answer: AQuestion Status: N ew29) A permanent increase in income today leads toA) a small increase in current consumption.B) a large increase in current consumption.C) a small decrease in future consumption.D) a large decrease in future consumption.Answer: BQuestion Status: N ew30) I f current income increases as much as future income decreasesA) c urrent consumption decreases.B) c urrent consumption stays the same.C) c urrent consumption increases.D) W e do not know.Answer: CQuestion Status: N ew31) A good proxy for the flow of consumption services would beA) a ggregate consumption.B) c onsumption of services and consumption of durables.C) c onsumption of durables and consumption of nondurables.D) c onsumption of nondurables and consumption of services.Answer: DQuestion Status: P revious Edition32) I n the data, which of the following is most volatile?A) r eal GDPB) c onsumption of durablesC) c onsumption of nondurablesD) c onsumption of servicesAnswer: BQuestion Status: P revious Edition33) I n the absence of a financial system, the two-period model without taxes predicts thatA) c onsumption is more volatile that output.B) c onsumption is as volatile as output.C) c onsumption is less volatile than output.D) W e do not know.Answer: BQuestion Status: N ew34) T he two primary explanations for the excess volatility of consumption areA) c onsumers' limited life spans and credit market imperfections.B) c redit market imperfections and changes in market prices.C) c hanges in market prices and distorting taxes.D) d istorting taxes and consumers' limited life spans.Answer: BQuestion Status: P revious Edition35) A n increase in second-period income results inA) a n increase in first-period consumption, an increase in second-period consumption,and an increase in saving.B) a n increase in first-period consumption, a decrease in second-period consumption,and an increase in saving.C) a decrease in first-period consumption, an increase in second-period consumption,and an increase in saving.D) a n increase in first-period consumption, an increase in second-period consumption,and a decrease in saving.Answer: DQuestion Status: P revious Edition36) T he idea that a permanent increase in income causes a larger increase in consumption than atemporary change in income is called theA) F riedman-Lucas theory.B) p ermanent income hypothesis.C) R icardian equivalence theorem.D) i ntertemporal substitution effect.Answer: BQuestion Status: P revious Edition37) P ermanent income isA) t he minimum income obtained throughout lifetime.B) i ncome that cannot be taxed.C) i ncome that cannot be lent.D) t he constant income corresponding to lifelong wealth.Answer: DQuestion Status: N ew38) P ermanent income is notA) p roportional to life-long wealth.B) p roportional to current consumption.C) p roportional to the present value of life-long consumption.D) p roportional to the present value of life-long income before taxes.Answer: DQuestion Status: N ew39) W hat raises permanent income?A) l ower future taxesB) h igher current taxesC) h igher interest ratesD) h igher current consumptionAnswer: AQuestion Status: N ew40) A martingale has the property thatA) i t is inherently unpredictable.B) t he best prediction of its value tomorrow is its value today.C) t he best prediction of its future growth rate is its current growth rate.D) t he best prediction of its value tomorrow can be computed by looking at its pastbehavior.Answer: BQuestion Status: P revious Edition41) A change in the stock market is a good indicator of a change inA) c urrent income.B) f uture income.C) w ealth.D) t he future growth rate of real GDP.Answer: CQuestion Status: P revious Edition42) A n increase in the real interest rate is an example of aA) p ure substitution effect.B) s ubstitution effect and a positive income effect.C) s ubstitution effect and a negative income effect.D) s ubstitution effect and an income effect whose sign depends on whether the consumeris initially a borrower or a lender.Answer: DQuestion Status: P revious Edition43) A n increase in the real interestA) i ncreases savings for both borrowers and lenders.B) i ncreases savings for borrowers, but has an uncertain effect on the savings of lenders.C) i ncreases savings for lenders, but has an uncertain effect on the savings of borrowers.D) h as an uncertain effect on the savings of both borrowers and lenders.Answer: BQuestion Status: P revious Edition44) F or a lender, an increase in the real interest rateA) d efinitely reduces current consumption and increases future consumption.B) r educes current consumption and has an uncertain effect on future consumption.C) h as an uncertain effect on current consumption and increases future consumption.D) h as an uncertain effect on both current and future consumption.Answer: CQuestion Status: P revious Edition45) F or a borrower, an increase in the real interest rateA) d efinitely reduces current consumption and increases future consumption.B) r educes current consumption and has an uncertain effect on future consumption.C) h as an uncertain effect on current consumption and increases future consumption.D) h as an uncertain effect on both current and future consumption.Answer: BQuestion Status: P revious Edition46) T he substitution effect of a change in the real interest rate is an example ofA) a n intratemporal substitution effect.B) a n intertemporal substitution effect.C) a n atemporal substitution effect.D) a temporary substitution effect.Answer: BQuestion Status: P revious Edition47) I n a two-period model, government spending is financed throughA) t axes and transfer payments.B) t axes and issuing debt.C) t axes and redeeming debt.D) t axes only.Answer: BQuestion Status: P revious Edition48) T he government's present value budget constraint states thatA) t axes must equal government spending in each period.B) t he present value of government spending must be equal to the present value ofconsumers' disposable incomes.C) t he present value of government spending must be equal to the present value of taxes.D) t he government may run deficits each and every year, as long as the deficits aresufficiently small.Answer: CQuestion Status: P revious Edition49) F or a competitive equilibrium in a two-period model, all of the following must be trueexceptA) e ach consumer picks first- and second-period consumption given the real interest rate.B) t here must be an equal number of borrowers and lenders.C) t he government's present-value budget constraint holds.D) t he credit market clears.Answer: BQuestion Status: P revious Edition50) T he Ricardian equivalence theorem implies thatA) g overnment debt policy must be handled correctly for the economy to prosper.B) t he amounts of government spending are neutral.C) a n increase in government spending has no effect on the economy, as long as there isan equal change in taxes.D) t he timing of taxes collected by the government is neutral.Answer: DQuestion Status: P revious Edition51) I f government spending is held constant and Ricardian equivalence holds,A) a n increase in the government budget deficit is always matched by a reduction inprivate savings.B) a n increase in government savings is always matched by an increase in thegovernment budget deficit.C) a n increase in government savings is always matched by an equal increase in privatesavings.D) a n increase in government savings is always matched by an equal reduction in privatesavings.Answer: DQuestion Status: P revious Edition52) T he Ricardian Equivalence saysA) w hatever the level of government expenses, consumption is the same.B) w hatever the timing of taxes, consumption is the same.C) h igher government expenses reduce consumption.D) a n increase in current consumption has to lead to a decrease in future consumption.Answer: BQuestion Status: N ew53) A ccording to the Ricardian EquivalenceA) t rade deficits do not matter.B) f iscal deficits do not matter.C) c urrent account deficits do not matter.D) h ousehold deficits do not matter.Answer: BQuestion Status: N ew54) T he Ricardian equivalence implies thatA) t he level of government spending has no impact.B) t he level of taxes has no impact.C) t he distribution of government expenses though time has no impact.D) t he distribution of taxes through time has no impact.Answer: DQuestion Status: N ew55) A n important reason why Ricardian equivalence may fail is ifA) b orrowing and lending are done through intermediaries.B) g overnment debt incurred today may not be paid off until after some currentconsumers are deceased.C) s tate and local governments also engage in debt finance.D) s ome consumers are borrowers, while other consumers are lenders.Answer: BQuestion Status: P revious Edition56) T he Ricardian Equivalence holds only ifA) t he government is altruistic.B) t here are no credit constraints.C) t he government runs deficits.D) t he government runs surpluses.Answer: BQuestion Status: N ew57) W hich condition would generate a violation of the Ricardian Equivalence?A) d ownward sloping labor supply curveB) u nderdeveloped credit marketsC) i nflationary monetary policyD) d eflationary monetary policyAnswer: BQuestion Status: N ew58) W hen different consumers pay different amounts of taxes, Ricardian equivalence may failbecauseA) a lternative ways of collecting the same tax revenue can affect the distribution ofincome.B) c onsumers can become jealous of one another.C) s uch differences in taxes create credit market imperfections.D) h igher taxes on more talented people may be politically popular.Answer: AQuestion Status: P revious Edition59) D istorting taxes can invalidate Ricardian equivalence becauseA) t hey confuse consumers about the need for government to repay its debt.B) a lternative ways of collecting the same tax revenue produce different amounts of lostwelfare.C) t hey are inferior to lump-sum taxes.D) t hey are more popular, politically, than lump-sum taxes.Answer: BQuestion Status: P revious Edition60) T he phenomenon that some consumers pay a higher interest rate when they borrow than theinterest rate they receive when they lend is best described as an example ofA) i rrational behavior.B) a credit market imperfection.C) a vast banking conspiracy.D) t he burden of public debt.Answer: BQuestion Status: P revious Edition61) W hen there are credit-market imperfections, an increase in government debt may beadvantageous because itA) d iscourages credit-constrained consumers from borrowing too much.B) a llows credit-constrained consumers to borrow more.C) e liminates the problems that cause credit-market imperfections.D) e ncourages more private saving.Answer: BQuestion Status: P revious Edition62) C onsumer choice theory predicts that, with identical consumers, fully-funded socialsecurityA) a lways makes all generations worse off.B) m akes some generations better off, and cannot make any generation worse off.C) m ay make some generations worse off and cannot make any generation better off.D) m ay be Pareto improving.Answer: CQuestion Status: P revious Edition63) I n a fully-funded social security programA) t he young pay for the benefits of the old.B) t he young are forced to save for their own retirement.C) t he young have to buy bonds for the old.D) t he young are forced to save for the retirement of the old.Answer: BQuestion Status: N ew64) W hy do consumers benefit from pay-as-you-go social security?A) I t keeps inflation in check as money is redistributed.B) I t is a better way than taxes to finance the government.C) I t forces people to save more than they would otherwise.D) W ith sufficiently high population growth, many young contribute to the benefits of theold.Answer: DQuestion Status: N ew65) C onsumer choice theory predicts that, with identical consumers, pay-as-you-go socialsecurityA) a lways makes all generations worse off.B) m akes some generations better off, and cannot make any generation worse off.C) m ay make some generations worse off and cannot make any generation better off.D) m ay be Pareto improving.Answer: DQuestion Status: P revious Edition66) S ocial security is most likely to present political problems whenA) m oving from pay-as-you-go to fully-funded and when population growth is low.B) m oving from pay-as-you-go to fully-funded and when population growth is high.C) m oving from fully-funded to pay-as-you-go and when population growth is low.D) m oving from fully-funded to pay-as-you-go and when population growth is high.Answer: AQuestion Status: P revious Edition。

Chapter08_其它常用工业控制器简介

Chapter08_其它常用工业控制器简介

ARM7
3 80 0.06 0.97 冯· 诺伊曼
ARM9
5 150 0.19 (+cache) 1.1 哈佛
ARM10
6 260 0.5 (+cache) 1.3 哈佛
ARM11
8 335 0.4 (+cache) 1.2 哈佛
机械电子工程学院
8.2 ARM的结构特点与工作原理
基于ARM内核的常用微处理器简介 ARM微处理器有多种内核结构,还有多种多样的内部 功能配置组合,在设计一个系统时选择最合适的ARM芯片 非常重要。 一些主流的ARM9处理器芯片如: – – – – – 飞思卡尔:MC9328MX27… 三星:S3C2440A … Atmel公司:AT91SAM9263 … 意法半导体:STR91x … 恩智浦半导体:LPC2000 系列…
备注 不能直接切换到其它模式
运行操作系统的特权 与用户模式类似,但具有可以直 任务 接切换到其它模式等特权
支持高速数据传输及 FIQ异常响应时进入此模式 通道处理
用于通用中断处理 IRQ异常响应时进入此模式 系统复位和软件中断响应时进入 此模式
管理 (svc)
中止 (abt) 未定义 (und)
操作系统保护模式
机械电子工程学院
8.1 DSP的结构特点与工作原理
• 系统复位后程序指针指向0000H处, 程序从该处开始执行,一般要在该处加一 条跳转指令使CPU自动转入用户程序的入 口。 • 0000H-003FH用于存储系统的中断 向量表,当有中断请求信号时,CPU从该 处取出中断子程序的入口地址。FLASH 的其他区域为用户程序区。 • 8000H-87FFH为单口存储器 (SARAM),仿真时,若程序较小,可将 程序代码放入该区。 • 8800H-FDFFH为用户扩展区。

chapter_08_cn_DNA回收

chapter_08_cn_DNA回收

DNA回收从样本到结果8.1PCR回收8.2胶回收8.3酶促反应物回收8.4染料终止子去除DNA 样本回收技术确保成功的下游应用,如新一代测序。

高通量测序对于包括全基因组测序、再测序、转录子图谱和基因调控研究等一系列应用至关重要。

QIAGEN DNA 回收技术确保您的成功 ——从样本到结果。

/PG/DNACleanup手动方法■自动化方法■手动与自动方法兼容■8.0回收试剂盒选择指南3648.1PCR 回收/PG/PCRcleanupPCR DNA 回收,最小洗脱体积■离心柱方式 ■MinElute PCR Purification Kit 36696孔板方式■MinElute 96 UF PCR Purification Kit367PCR DNA 回收,标准洗脱体积■离心柱方式 ■QIAquick PCR Purification Kit 36896孔板方式■QIAquick 96 PCR Purification Kits3698.2胶回收/PG/gelextractionDNA 胶回收,最小洗脱体积■70 bp – 4 kb DNA 片段■MinElute Gel Extraction Kit 370DNA 胶回收,标准洗脱体积■70 bp – 10 kb DNA 片段■QIAquick Gel Extraction Kit 37140 bp – 50 kb DNA 片段■QIAEX II Gel Extraction Kit3728.3酶促反应物回收/PG/rxncleanupDNA 回收,最小洗脱体积■离心柱方式■MinElute Reaction Cleanup Kit 373去除核苷酸 ,标准洗脱体积■离心柱方式■QIAquick Nucleotide Removal Kit 374手动方法■自动化方法■手动与自动方法兼容■8.4染料终止子去除/PG/dyeremoval测序反应DNA 回收■离心柱方式和96孔板方式■DyeEx Kits375QIAGEN 的DNA 回收技术仅用于分子生物学研究。

财务报告与分析:三友会计名著译丛 第08章习题答案

财务报告与分析:三友会计名著译丛 第08章习题答案

财务报告与分析:三友会计名著译丛第08章习题答案1Chapter 8 ProfitabilityPROBLEMS PROBLEM 8-1 Net Profit Margin = Sales Net Itemsng Nonrecurri and Earnings of Share Minority Before Income Net20042003$1,050,000$52,500$1,000,000$40,0005.00% 4.00%Return on Assets = Assets Total Average Itemsng Nonrecurri and Earnings of Share Minority Before Income Net20042003$230,000$52,500$200,000$40,00022.83% 20.00%Total Asset Turnover = AssetsTotal Average SalesNet20042003$230,000$1,050,000$200,000$1,000,0004.57 times5.00 timesper year per year2= Return on Common Equity = Equity Common Average DividendsPreferred Minus Items Noncurring Before Income Net20042003$170,000$52,500$160,000$40,00030.88% 25.00%Ahl Enterprise has had a substantial rise in profit to sales. This is somewhat tempered by a reduction in asset turnover. Given a slight rise in common equity, there is a substantial rise in return on common equity.PROBLEM 8-2 a.2004 2003 Sales Cost of goods sold Gross profit Selling expense General expense Operating income Income tax Net income 100.0% 60.7 14.6 10.0 14.7 5.9 8.8% 100.0% 60.8 20.0 8.3 4.2 6.7%b. Starr Canning has had a sharp decrease in selling expense coupledwith only a modest rise in general expenses giving an overall rise in the net profit margin.PROBLEM 8-3 Earnings Before interest and tax $245,000 Interest (750,000 x 6%) 45,000 Earnings before tax $200,000 Tax 80,000 Net income $120,000 Preferred dividends 15,000 Income available to common $105,0003a. 4.00%$3,000,000$120,000Assets Total Average Items ng Nonrecurri and Earnings of Share Minority Before Income Net Assets on Return ===b. 4.00%$3,000,000$120,000Equity Total Average Stock Preferred Redeemable on Dividends - Items ngNonrecurri Before Income Net Equity Total on Return ===c. Equity Common Average EquityCommon Average - Items ng Nonrecurri Before Income Net Equity Common onReturn =7.00%$1,500,000$15,000-$80,000-$200,000=d.$45,000$245,000Interestd Capitalize Including Expense, Interest Earnings Minority and Earnings,Equity Expense Tax Expense,Interest Excluding Earnings, Recurring Earned Interest Times == = 5.44 timesper yearPROBLEM 8-4Vent Molded Plastics Vent Molded Plastics SalesSales returnsCost of goods sold Selling expense General expense Other income Other expense Income tax Net income 7.0 72.1 9.4 7.0 .4 1.5 4.8 5.6%.3 67.1 10.1 7.9 .4 1.3 5.5 8.5%Sales returns are higher than the industry. Cost of sales ismuch higher, offset some by lower operating expenses. Other expense (perhaps interest) is somewhat higher. Lower taxes are perhaps caused by lower income. Overall profit is less, primarily due to cost of sales.4PROBLEM 8-5 a. 122.72%$1,294,966$1,589,150=2004 sales were 122.72% of those in 2003.b. 100.80%$137,110$138,204=2004 net earnings were 100.80% of those in 2003.c. 1. Net Profit Margin = SalesNet Itemsng Nonrecurri and Earnings of Share Minority Before Profit Net200420039.39%$1,589,150$149,260=11.56%$1,294,966$149,760=2. Return on Assets = Assets Total Average Itemsng Nonrecurri and Earnings of Share Minority Before Income Net2004 200310.38%6$$1,437,63$149,260= 12.67%$1,182,110$149,760=3. Total Asset Turnover = AssetsTotal Average SalesNet20042003$1,437,636$1,589,150$1,182,110$1,294,9664. DuPont Analysis: Return on = Net Profit x Total Asset Assets Margin Turnover2004 10.42* = 9.39% x 1.11 2003 12.72* = 11.56% x 1.10 *Rounded causes the difference from the 10.38% and 12.67%computed in part 2.55.2004 2003Operating income Net salesLess: Cost of product sold Research and develop- ment expensesGeneral and selling Operating income$1,589,150135,314 526,680 $ 275,766$1,294,966113,100 446,110 $ 269,506Operating Income Margin = SalesNet IncomeOperating20042003$1,589,150$275,766$1,294,966$269,5066. Return on Operating Assets = AssetsOperating Average IncomeOperating20042003$1,411,686$1,589,150$1,159,666$269,506= 19.53% = 23.24%7. Operating Asset Turnover = AssetsOperating Average SalesNet20042003$1,411,686$1,589,150$1,159,666$1,294,966= 1.13 times = 1.12 timesper year per year68. DuPont Analysis: Return on = Net Profit x Total Asset Assets Margin Turnover2004 19.61%* = 17.35% x 1.13 2003 23.31%* = 20.81% x 1.12 *Rounding causes the difference from the 19.53% and 23.24%computed in part 6.9.2004 2003 Net earnings before minority share Interest expense Earnings before tax Provision for income tax Tax rate 1 – tax rate (interest expense x (1 – tax rate) Net earnings before minority share + (interest expense) x (1 – tax rate) Long-term debt + equity Return on investment $ 149,260 18,768 263,762 114,502 43.4% 56.6% 10,623 159,883 1,019,420 15.7% $ 149,760 11,522 271,500 121,740 44.8% 55.2% 6,360 156,120 933,23216.7%10. Return on Common Equity = AssetsOperating Average SalesNet2004 2003$810,292$138,204 $720,530$137,110= 17.06% = 19.03%d. Profits in relation to sales, assets, and equity have alldeclined. Turnover has remained stable. Overall, although absolute profits have increased in 2004, compared with 2003, the profitability ratios show a decline.7PROBLEM 8-6 a. 1. Net Profit Margin = SalesNet Itemsng Nonrecurri and Earnings of Share Minority Before Income Net200420032002 $1,600,000$97,051$1,300,000$51,419$1,200,000$45,101= 6.07%= 3.96%= 3.76%2. Return on Assets = AssetsTotal Average Itemng Nonrecurri and Earnings of Share Minority Before Income Net200420032002 $1,440,600$97,051$1,220,000$51,419$1,180,000$45,101= 6.04%= 4.21%= 3.82%3. Total Asset Turnover =AssetsTotal Average SalesNet200420032002 $1,440,600$1,600,000$1,220,000$1,300,000$1,180,000$1,200,000= 1.11 times per year= 1.07 times per year= 1.02 times per year4. DuPont AnalysisReturn on Assets =Net Profit Marginx Total Asset Turnover 2004: 6.74% 2003: 4.24% 2002: 3.84%= = =6.07% 3.96%* 3.76%*x x x1.11 times 1.07 times 1.02 times*Rounding difference from the 4.21% and 3.82% computed in 2.85. Operating Income Margin =SalesNet IncomeOperating200420032002(2) Net sales Less:Material and manufacturing costs of products sold Research and development General and selling(1) Operating income(1) Dividend by (20)740,000 90,000 600,000 1,430,00010.63%624,000 78,000 500,500 1,202,5007.50%576,000 71,400 465,000 1,112,4007.30%6. Return on Operating Assets =AssetsOperating Average IncomeOperating200420032002Operating Income_____ $ 170,00012.23%$ 97,5008.41%$ 87,0007.98%7. Operating Asset Turnover =AssetsOperating Average SalesNet200420032002Net Sales_________ $1,600,000 1.15 times$1,300,0001.12 times$1,200,0001.10 times8. DuPont Analysis with operating ratiosReturn on Assets=Net Profit Marginx Total Asset Turnover 2004: 12.22%* 2003: 8.40%* 2002: 8.03%= = =10.63% 7.50% 7.30%x x x1.15 1.12 1.10*Rounding difference from the 12.23%, 8.41%, and 8.04% computed in 6.99. Equity)s Liabilitie Term -(Long Average Rate)]Tax -(1 x Expense) [(Interest Items ng Nonrecurri and Earnings of Share Minority Before Income Net Investment on Return ++=Estimated tax rate:200420032002(1) Provision for income taxes (2) Earnings before income taxes and Minority equity(1) divided by (2) 1 – tax rate(3) Interest expense x (1-tax rate) $19,000 x 6.00% $18,200 x 59.00% $17,040 x 58.00%(4) Earnings before minority equity (3) plus (4) (A)(5) Total long-term debt(6) Total stockholders’ equity (5) plus (6) (B)(A) divided by (B)$ 62,049$ 159,10039.00% 61.00%11,59097,051 108,641211,100 811,200 1,022,30010.63%$ 35,731$ 87,15041.00% 59.00%10,73851,419 62,157212,800 790,100 1,002,9006.20%$ 32,659$ 77,76042.00% 58.00%9,88345,101 54,984214,000 770,000 984,0005.59%10. EquityTotal Average StockPreferred Redeemable on Dividends -Items ng Nonrecurri Before Income Net Equity Total on Return =200420032002Net income etc.Average total equity$ 86,851 $811,200 $ 42,919 $790,100$ 37,001 $770,000b. All ratios computed indicate a significant improvement Iprofitability.PROBLEM 8-7 a. 1. SalesNet Itemsng Nonrecurri and Earnings of Share Minority Before Income Net Margin Profit Net =2004 2003 2002 $ 171,115 $1,002,100= 17.08%$163,497 $980,500= 16.67%$143,990 $900,000= 16.00%2. AssetsTotal Average Itemsng Nonrecurri and Earnings ofShare Minority Before Income Net Assets on Return =2004 2003 2002 $171,115= 20.40%$163,497= 21.23%$143,990= 18.82%3. AssetsTotal Average SalesNet Turnover Asset Total =2004 2003 2002$1,002,100 $ 839,000= 1.19 times per year$980,500 $770,000= 1.27 times per year$900,000 $$765,000= 1.18 times per year4. DuPont AnalysisReturn on Assets= Operating Income Margin x Total Asset Turnover 2004: 20.88%* 2003: 21.17%* 2002: 18.88%*= = = 17.08% 16.67% 16.00% x x x 1.19 times per year 1.27 times per year 1.18 times per year*Rounding difference from the 20.40%, 21.23%, and 18.82% computed in 2.5. Equitys Liabilitie Term -(Long Average Rate)]Tax -1Expense)x( [(Interest Items ng Nonrecurri and Earnings of Share Minority Before Income Net Investment on Return +=Estimated tax rate:200420032002(1) Provision for income taxes (2) Earnings before income taxes tax rate [(1) divided by (2)] 1 – tax rate(3) Interest expense x (1-tax rate) $14,620 x 59.50% $12,100 x 59.00% $11,250 x 57.70%(4) Net earnings(3) plus (4) (A)(5) Average long-term debt(6) Average shareholders ’ equity (5) plus (6) (B)(A) divided by (B)$116,473 $287,588 40.50% 59.50%8,699171,115 179,814120,000 406,000 526,00034.19%$113,616 $277,113 41.00% 59.00%7,139163,497 170,636112,000 369,500 481,50035.44%$105,560 $249,550 42.30% 57.70%6,491143,990 150,481101,000 342,000 443,00033.97%6. EquityTotal Average StockPreferred Redeemable on Dividends -Items ng Nonrecurri Before Income Net Equity on Return =2004 2003 2002Net earningsAverage total equity$171,115 $163,497$143,990 7. AssetsFixed Net Average SalesNet Assets Fixed to Sales =2004 2003 2002 $1,002,100= 3.31$980,500= 3.49$900,000= 5.20b. The ratios computed indicate a very profitable firm. Most ratios indicate A very slight reduction in profitability in 2003.Sales to fixed assets has declined materially, but this is the only ratio for which the trend appears to be negative.PROBLEM 8-8 a. 1. SalesNet Itemsng Nonrecurri and Earnings of Share Minority Before Income Net Margin Profit Net =2004 2003 2002 $20,070-$8,028= 4.05%$16,660-$6,830= 3.83%$15,380-$6,229= 3.78%2. AssetsTotal Average Itemsng Nonrecurri and Earnings of Share Minority Before Income Net Assets on Return =2004 2003 2002$20,070-$8,028= 8.26%$16,660-$6,830= 7.18%$15,380-$6,229= 6.73%3. AssetsTotal Average SalesNet Turnover Asset Total =2004 2003 2002 $297,580= 2.04 times per year$256,360= 1.87 times per year$242,150= 1.78 times per year4. DuPont AnalysisReturn on Assets = Operating Income Margin x Total AssetTurnover 2004: 8.26% 2003: 7.16%* 2002: 6.73%= = = 4.05% 3.83% 3.78% x x x2.04 times 1.87 times 1.78 times*Rounding difference from the 7.18% computed in 2.5. SalesNet IncomeOperating Margin Income Operating =2004 2003 2002 $ 26,380= 8.86%$ 22,860= 8.92%$ 20,180= 8.33%6. AssetsOperating Average IncomeOperating Assets Operating on Return =2004 2003 2002$26,380_____ $89,800+$45,850= 19.45%$ 22,860____ $84,500+$40,300= 28.32%$ 20,180____ $83,100+$39,800= 16.42%7. AssetsOperating Average SalesNet Turnover Asset Operating =2004 2003 2002 $45,850$89,800$297,580+= 2.19 times per year$40,300$84,500$256,360+= 2.05 times per year$39,800$83,100$242,150+= 1.97 times per year8. DuPont Analysis with Operating RatiosReturn on Assets = Operating Income Margin x Total AssetTurnover 2004: 19.40%* 2003: 18.29%* 2002: 16.41%*= = = 8.86% 8.92% 8.33% x x x2.19 times 2.05 times 1.97 times*Rounding difference from the 19.45%, 18.32%, and 16.42% computed in 6.9.SalesNet ProfitGross Margin Profit Gross =2004 2003 2002$ 91,580= 30.77%$ 80,060= 31.23%$ 76,180= 31.46%b. Net profit margin and total asset turnover both improved. This resulted in a substantial improvement to return on assets.Operating income margin declined slightly in 2003 after a substantial improvement in 2002. Operating asset turnover improved each year. The result of the improvement in operating income margin and operating asset turnover was a substantial improvement in return on operating assets. Gross profit margin declined slightly each year.Overall profitability improved substantially over the three-year period.PROBLEM 8-9 a. 1.AssetsTotal Average Itemsng Nonrecurri and Earnings of Share Minority Before Income Net Assets on Return =2004 2003 2002 (A) (B)$ 2,100,000 7,000,000 100,000 10,000,000$ 1,950,000 6,200,000 100,000 9,000,000$ 1,700,000 5,800,000 100,000 8,300,0002. Equity)s Liabilitie Term -(Long Average Rate)]-Tax -1Expense)x( [(Interest Items ng Nonrecurri and Earnings of Share Minority Before Income Net Investment on Return ++=Estimated tax rate:200420032002(1) Provision for income taxes (2) Income before taxtax rate = (1) divided by (2)1 – tax rate(3) Interest expense x (1-tax rate) $80,000 x 58.33% $600,000 x 57.35% $550,000 x 61.82%(4) Net income(3) plus (4) (A)Long-term debt Preferred stock Common equity(B)(A) divided by (B)$ 1,500,000 3,600,00041.67%58.33%$ 466,640$ 2,100,000$ 2,566,640$ 7,000,000100,000 10,000,000 $17,100,00015.01%$ 1,450,000 3,400,00042.65%57.35%$ 344,100$ 1,950,000$ 2,294,100$ 6,200,000100,000 9,000,000 $15,300,00014.99%$ 1,050,000 2,750,00038.18%61.82%$ 340,000$ 1,700,000$ 2,040,010$ 5,800,000100,000 8,300,000 $14,200,00014.37%3.EquityTotal Average StockPreferred Redeemable on Dividends Itemsng Nonrecurri Before Income Net Equity Total on Return =2004 2003 2002 0$10,000,00$100,000$2,100,000+= 20.79%$9,000,000$100,000$1,950,000+= 21.43% $8,300,000$100,000$1,700,000++= 29.24%4.EquityCommon Average DividendsPreferred Items ng Nonrecurri Before Income Net Equity Common on Return ==2004 2003 2002$10,000,00$14,000-$2,100,000= 20.86%$9,000,000$14,000-$1,950,000= 21.51%$8,300,000$14,000-$1,700,000= 20.31%b. Return on assets improved in 2003 and then declined in 2004.Return on investment improved each year. Return on total equity improved and then declined. Return on common equity improved and then declined.In general, profitability has improved in 2003 over 2002 but was down slightly in 2004.c. The use of long-term debt and preferred stock both benefitedprofitability.Return on common equity is slightly more than return on total equity, indicating a benefit from preferred stock.Return on total equity is substantially higher than return on investment, indicating a benefit from long-term debt. PROBLEM 8-10a. Sales $120,000Gross profit (40%) 48,000Cost of goods sold (60%) 72,000Beginning inventory $ 10,000+ purchase 100,000Total available- Ending inventory ?____Cost of goods sold $ 72,000Ending inventory (110,000-72,000) $ 38,000b. If gross profit were 50%, the analysis would be as follows:Sales $120,000Gross profit (50%) 60,000Cost of goods sold (50%) 60,000Beginning inventory $ 10,000Purchases 100,000Total available $110,000- Ending inventory 50,000Cost of goods sold $ 60,000If gross profit were higher, the loss would be higher.Net Profit RetainedEarningsTotalStockholders’Equitya. a stock dividend isdeclared and paid.b. Merchandise is purchased on credit.c. Marketable securities are sold above cost.d. Accounts receivable arecollected.e. A cash dividend isdeclared and paid.f. Treasury stock ispurchased and recordedat cost.g. Treasury stock is soldabove cost.h. Common stock is sold.i. A fixed asset is sold for less than book value.j. Bonds are converted into common stock. 0+--+--+--++-+a. 1.SalesNet Itemsng Nonrecurri and Earnings of Share Minority Before Income Net Margin Profit Net =2004:7.42%$980,000$72,700=2003:6.76%$960,000$64,900=2002:6.15%$940,000$57,800=2001:5.69%$900,000$51,200=2000:5.10%$880,000$44,900=2. AssetsTotal Average SalesNet Turnover Asset Total =2004:year per times 1.14$86,000)/2($859,000$980,000=+2003:year per times 1.112$870,000)/($861,000$960,000=+2002:year per times 1.082$867,000)/($870,000$940,000=+2001:year per times 1.042$863,000)/($867,000$900,000=+2000: Cannot compute average assets.Year-End Balance Sheet Figures2004:year per times 1.14$859,000$980,000=2003:year per times 1.11$861,000$960,000=2002:year per times 1.08$870,000$940,000=2001:year per times 1.04$867,000$900,000=2000:year per times 1.02$863,000$880,000=3. AssetsTotal Average Itemsng Nonrecurri and Earnings of Share Minority Before Income Net Assets on Return =Average Balance Sheet Figures2004:8.45%2$861,000)/($859,000$72,700=+2003:7.50%2$870,000)/($861,000$64,900=+2002:6.66%2$867,000)/($870,000$57,800=+2001:5.92%2$863,000)/($867,000$51,200=+2000: Cannot compute average assets.Year-End Balance Sheet Figures2004: 8.46%$859,000$72,700=2003: 7.54%$861,000$64,900=2002: 6.64%$870,000$57,800=2001: 5.91%$867,000$51,200=2000: 5.20%$863,000$44,900=4. Turnover Asset Total x Margin Profit Net Assets on Return DuPont =Average Balance Sheet Figures2004: 7.42% x 1.14 times = 8.46%2003: 6.76% x 1.11 times = 7.50%2002: 6.15% x 1.08 times = 6.64%2001: 5.69% x 1.04 times = 5.92%2002: Cannot compute average assetsYear-End Balance Sheet Figures2004: 7.42% x 1.14 times = 8.46%2003: 6.76% x 1.11 times = 7.50%2002: 6.15% x 1.08 times = 6.64%2001: 5.69% x 1.04 times = 5.92%2000: 5.10% x 1.02 times = 5.20%5. Sales Net Income Operating Margin Income Operating =2004: 11.73%$980,000$240,000-$355,000=2003: 10.94%$960,000$239,000-$344,000=2002: 10.11%$940,000$238,000-$333,000=2001: 9.00%$900,000$239,000-$320,000=2000: 8.98%$880,000$235,000-$314,000=6. Assets Operating Average Sales Net Turnover Asset Operating =2004: year per times 1.26$85,000)/2-$861,000$80,000-($859,000$980,000=+2003: year per times 1.23$90,000)/2-$870,000$85,000-($861,000$960,000=+2002: year per times 1.21$95,000)/2-$867,000$90,000-($870,000$940,000=+2001: year per times 1.172$100,000)/-$863,000$95,000-($870,000$900,000=+2000: Average assets cannot be computed.2004: year per times 1.26$80,000-$859,000$980,000=2003: year per times 1.24$85,000-$861,000$960,000=2002: year per times 1.21$90,000-$870,000$940,000=2001: year per times 1.17$95,000-$867,000$900,000=2000: year per times 1.15$100,000-$863,000$880,000=7. Assets Operating Average Income Operating Assets Operating on Return =2004: 14.79%$85,000)/2-$861,000$80,000-($859,000$240,000-$355,000=+2003: 13.50%$90,000)/2-$870,000$85,000-($861,000$239,000-$344,000=+2002: 12.24%$95,000)/2-$867,000$90,000-($870,000$238,000-$333,000=+2001: 10.55%$100,000/2-$863,000$95,000-($867,000$239,000-$320,000=+2000: Average Assets cannot be computed.2004: 14.76%$80,000-$859,000$240,000-$355,000=2003: 13.53%$80,000-$861,000$239,000-$344,000=2002: 12.18%$90,000-$870,000$238,000-$333,000=2001: 10.49%$95,000-$867,000$239,000-$320,000=2000: 10.35%$100,000-$863,000$235,000-$314,000=8. DuPont Return on Operating Assets =Operating Income Margin x Operating Asset TurnoverAverage Balance Sheet Figures2004: 11.73% x 1.26 = 14.78%2003: 10.94% x 1.23 = 13.46%2002: 10.11% x 1.21 = 12.23%2001: 9.00% x 1.17 = 10.53%2000: Average assets cannot be computed.Year-End Balance Sheet Figures2004: 11.73% x 1.26 = 14.78%2003: 10.94% x 1.24 = 13.57%2002: 10.11% x 1.21 = 12.23%2001: 9.00% x 1.17 = 10.53%2000: 8.98% x 1.15 = 10.33%9. Assets Fixed Net Average Sales Net Assets Fixed to Sales =2004: 1.982$491,000)/($500,000$980,000=+2003: 1.972$485,000)/($491,000$960,000=+2002: 1.952$479,000)/($485,000$940,000=+2001: 1.902$479,000)/($479,000$900,000=+2000: Average net fixed assets cannot be computed.Year-End Balance Sheet Figures2004: 1.96$500,000$980,000=2003: 1.96$491,000$960,000=2002: 1.94$485,000$940,000=2001: 1.88$479,000$900,000=2000:1.87$470,000$880,000=10. Equity)Liabiities Term -(Long Average Rate)] Tax -(1 x Expense [Interest Items ng Nonrecurri and Earnings of Share Minority Before Income Net Investment on Return ++=Average Balance Sheet Figures2004: 11.58%2$195,000)/-$861,000$194,000-($859,000.33)-(1 $6,500$72,700=++2003: 10.35%2$195,500)/-$870,000$195,000-($861,000.34)-$6,700(1$64,900=++2002: 9.37%2$195,000)/-$867,000$195,500-($870,000.34)-$8,000(1$57,000=++2001: 8.50%2$196,500)/-$863,000$195,000-($867,000.30)-$8,100(1$51,200=++2000: Average (Long-Term Liabilities + Equity cannotbe computed.Year-End Balance Sheet Figures2004: 11.59%$194,000-$859,000.33)-$6,500(1$72,700=+2003: 10.42%$195,500-$861,000.34)-$6,700(1$64,900=+2002: 9.35%$195,500-$870,000.34)-$8,000(1$57,800=+2001: 8.46%$195,000-$867,000.30)-$8,100(1$51,200=+2000:7.83%$196,500-$863,000.34)-$11,000(1$44,900=+11. Equity Total Average Stock Preferred Redeemable on Dividends -Items Equity Total on Return =Average Balance Sheet Figures2004: 12.77%2$518,000)/($520,000$6,400-$72,700=+2003: 11.33%2$515,000)/($518,000$6,400-$64,900=+2002: 10.03%2$510,000)/($515,000$6,400-$57,800=+2001: 8.38%2$559,000)/($510,000$6,400$51,200=++2000: Average total equity cannot be computed.Year-End Balance Sheet Figures2004: 12.75%$520,000$6,400-$72,700=2003: 11.29%$518,000$6,400-$64,900=2002: 9.98%$515,000$6,400-$57,800=2001: 8.78%$510,000$6,400-$51,200=2000:8.03%$559,000$44,900=12. Equity Common Average Dividends Preferred -Items Equity Common on Return =Average Balance Sheet Figures2004: 13.36%$70,000)/2-$518,000$70,000-($520,000$6,300-$6,400-$72,700=+2003: 11.69%$70,000)/2-$515,00$70,000-($518,000$6,300-$6,400-$64,900=+2002: 10.19%$70,000)/2-$510,000$70,000-($515,000$6,300-$6,400-$57,800=+2001: 8.76%2$120,000)/-$559,000$70,000-($510,000$6,300-$6,400-$51,200=+2000: Average common equity cannot be computed.Year-End Balance Sheet Figures2004: 13.33%$70,000-$520,000$6,300-$6,400-$72,700=2003: 11.65%$70,000-$518,000$6,300-$6,400-$64,900=2002: 10.13%$70,000-$515,000$6,300-$6,400-$57,800=2001: 8.75%$70,000-$510,000$6,300-$6,400-$51,200=2000:7.77%$120,000-$559,000$10,800-$44,900=13. Sales Net Profit Gross Margin Profit Gross =2004: 36.22%$980,000$355,000=2003: 35.83%$960,000$344,000=2002: 35.43%$940,000$333,000=2001: 35.56%$900,000$320,000=2000: 35.68%$880,000$314,000=b.In general, the profitability appears to be very good and the trend is positive.There was not a significant difference in results between usingaverage balance sheet figures and year-end figures. Theyear-end figure allowed for an additional year was not a very profitable year in relation to subsequent years.。

Chapter_08OnlineCustomerService

Chapter_08OnlineCustomerService
6
CRM –CRM and ERP
Business Intelligence
7
CRM
Technology
Internet Multimedia Data Warehouse and Data Mining AI and Expert Systems Call center
8
Agenda
Explain CRM Explain eCRM Online Customer Services Functions and Tools Personalized recommendation Case: BroadVision
Improved communication Automated process Speedier resolution of problems
14
Online Customer Service Functions
Provide search and comparison capabilities Provide free products and services Provide specialized information and services Allow customers to order customized products and services Enable customers to track accounts or order status ………
推荐技术的概念
电子商务网站向客户提供商品信息和建议,帮助客户决 定应该购买什么产品
个性化推荐技术的概念
Resnick & Varian 在1997年提出:“people provide recommendations as inputs, which the system then aggregates and directs to appropriate recipients” 通过收集和分析客户信息来学习客户的兴趣和行为,主 动向客户推荐产品、提供信息,帮助他们做出高效的购 买决策

NUMERICAL METHODS Chapter08

NUMERICAL METHODS Chapter08
CHAPTER 8
NUMERICAL ORDINARY DIFFERENTIAL EQUATIONS
(ODE) This chapter is about solving for a function of time y(t) when its time-derivative is given, namely,
yi+1
k = f (ti, yi)
y(t) yi
t
ti h ti+1
A. Difference equation When propagating from i to i+1, the propagation slope is simply approximated as:
k= dy = f (ti , yi ) dt ti
yi +1 + δyi +1 = yi + δyi + f (ti , yi ) h + ∂f (ti , yi ) δyi h ∂y
δyi +1 = δyi +
∂f (ti , yi ) δyi h ∂y δyi +1 ∂f (ti , yi ) h =1+ δyi ∂y
For the calculation to be stable, the round-off error has to diminish as i increases. The stability condition is: ∂f 1+ h <1 ∂y ∂f ∴0 < − h < 2 . ∂y Therefore, the method is only conditionally stable.
dy = f (e derivative depends on time t and the instantaneous value of y itself. The function f can be a complicated function that requires numerical treatments. If f does not depend on y, the numerical integrations of Chapter 7 are applicable. Otherwise, we need to deal with the problem using tools of the current chapter. The problem of Eq. (*) is called a first-order ordinary differential equation (ODE). It is of first order because only the first derivative is involved. It is regarded as “ordinary” because the differentiation is only about a single variable t. It is clear that the initial value y(0) at t = 0 has to be given. The problem is an example of initial value problems (IVP). Numerical ODE solution with increasing accuracies are presented in this chapter. They are Euler’s method, Heun’s method and Runge-Kutta 4th order method. While these methods use equal step size, Matlab has some built-in functions with adaptive step sizes. Example of using ode functions will be discussed.

Varian_Chapter08_Slutsky_Equation

Varian_Chapter08_Slutsky_Equation

x1
Pure Substitution Effect
Slutsky
isolated the change in demand due only to the change in relative prices by asking “What is the change in demand when the consumer‟s income is adjusted so that, at the new prices, she can only just buy the original bundle?”
Slutsky
discovered that changes to demand from a price change are always the sum of a pure substitution effect and an income effect.
Real Income Changes
Effects of a Price Change
x2 Consumer‟s budget is $y. Original choice
y p2
x1
Effects of a Price Change
x2
y p2
Consumer‟s budget is $y. Lower price for commodity 1 pivots the constraint outwards.
x2‟ x2‟‟
x 1‟
x1‟‟
x1
Slutsky’s Effects for Income-Inferior Goods
x2
The pure substitution effect is as for a normal good. But, the income effect is in the opposite direction. (x1‟‟‟,x2‟‟‟)
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第八章应用:税收的代价Application:The Costs of Taxation1税收的代价The Costs of Taxation税收如何影响市场参与者的福利?How do taxes affectthe economic well-being of marketparticipants?2税收的代价The Costs of Taxation向买者征税和向卖者征税是无关的。

当征税时,买者支付的价格上升,而卖者得到的价格下降。

It does notmatter whether a tax on agood is levied on buyers orsellers of the good…the pricepaid by buyers rises, and theprice received by sellers falls.34税收的影响The Effects of a Tax...Price 0Quantity无税收时的数量Quantitywithout tax SupplyDemand没有税收时的价格Pricewithout tax买者支付的价格Price buyers pay 有税收时的数量Quantity with tax 税收规模Size of tax卖者得到的价格Pricesellersreceive税收的影响The Effects of a Tax税收在买者支付的价格和卖者得到的价格之间加入一个楔子A tax places a wedge between the price buyers pay and the price sellers receive.由于这个楔子,卖出的数量低于如果没有税收时的数量Because of this tax wedge, the quantity sold falls below the level that would be sold without a tax.市场规模因此而缩小The size of the market for that good shrinks.5税收收入Tax RevenueT = 税收规模the size of the taxQ = 销售量the quantity of the good sold T×Q = 政府税收收入the government’s tax revenue67税收收入Tax Revenue...Price 0QuantityQuantity without tax SupplyDemandPrice sellers receiveQuantity with tax 税收规模Size of tax (T)销售数量Quantity sold (Q)税收收入TaxRevenue (T x Q)Price buyers pay8税收如何影响福利How a Tax Affects Welfare...Quantity 0Price DemandSupplyQ 1A B CFD E Q 2税收减少消费者剩余(B+C)和生产者剩余(D+E)Tax reduces consumer surplus by (B+C) andproducer surplus by (D+E)税收收入Tax revenue = (B+D)无谓损失Deadweight Loss = (C+E)Price buyers pay =P BP 1Price withouttax =P SPrice sellers receive =税收导致的福利变化Changes in Welfarefrom a Tax没有税收时Without Tax有税收时With Tax变化Change 消费者剩余Consumer Surplus A + B + C A-(B+C)生产者剩余Producer Surplus D + E + F F-(D + E)税收收入Tax Revenue none B + D+ (B + D)总剩余Total Surplus A + B + C + D + E + F A + B + D + F-(C + E )面积C+E衡量了总剩余的减少,它是税收的无谓损失The area C+E shows the fall in total surplus and isthe deadweight loss of the tax.9税收如何影响福利How a Tax Affects Welfare总福利的变化包括:The change in total welfare includes:消费者剩余的变化The change in consumer surplus生产者剩余的变化The change in producer surplus税收收入的变化The change in tax revenue.买者和卖者的损失超过政府的税收收入The losses to buyers and sellers exceed the revenueraised by the government.这种总剩余的下降被称为无谓损失,这是效率的损失This fall in total surplus is called the deadweight loss. 这被称为税收扭曲This is called tax distortion10无谓损失和贸易的好处Deadweight Losses and the Gains from Trade税收引起的无谓损失是因为它使买者和卖者不能实现某些贸易的好处Taxes cause deadweight losses because they prevent buyers and sellers from realizing some of the gains from trade.1112无谓损失The Deadweight Loss...Quantity0Price DemandSupplyQ 1P B 没有税收时的价格Price = P 1without tax P SQ 2税收规模Size of tax损失的贸易好处Lost gainsfrom trade卖者的成本Cost to sellers买者的价值Value to buyers 由于税收引起的数量减少Reduction inquantity due to the tax补贴Subsidy¾补贴的方式有三种:对生产者补贴、对消费者补贴或者对两者各补贴一部分。

¾我们需要知道的是这三种不同的补贴的经济结果有何不同。

13补贴Subsidy对生产者补贴一块钱卖者得到的价格买者支付的价格14补贴Subsidy•经济后果¾市场规模扩大¾买者支付的价格降低;卖者得到的价格升高15补贴Subsidy对消费者补贴一块钱卖者得到的价格买者支付的价格16补贴Subsidy•经济后果¾对卖者和买者补贴,经济结果是完全相同的。

即相当于在买者支付的价格和卖者得到的价格之间打入一个楔子。

(记住这个楔子和税收的楔子正好反向)17补贴的无谓损失Deadweight loss of Subsidy补贴楔子1819补贴的无谓损失Deadweight loss of Subsidy补贴楔子三角形A 三角形B 总的消费者剩余的增加是图中蓝色梯形政府的补贴额是图中蓝色梯形+青色三角无谓损失的决定因素Determinants of Deadweight Loss 什么因素决定税收的无谓损失是大还是小?What determines whether the deadweight loss froma tax is large or small?无谓损失的量取决于供给量和需求量对价格变动的反应程度The magnitude of the deadweight loss depends on how much the quantity supplied and quantitydemanded respond to changes in the price.它又取决于供给和需求的价格弹性That, in turn, depends on the price elasticities ofsupply and demand.2021税收扭曲和弹性Tax Distortions and ElasticitiesQuantityPrice DemandSupply0当供给比较缺乏弹性时,税收的无谓损失小When supply is relatively inelastic,the deadweight lossof a tax is small.(a) 缺乏弹性的供给Inelastic Supply税收规模Size of tax22税收扭曲和弹性Tax Distortions and ElasticitiesQuantityPrice DemandSupply0税收规模Sizeof tax当供给比较富有弹性时,税收的无谓损失大When supply is relatively elastic,the deadweight loss of a tax is large.(b) 富有弹性的供给ElasticSupply23税收扭曲和弹性Tax Distortions and ElasticitiesQuantityPrice DemandSupply0当需求比较缺乏弹性时,税收的无谓损失小When demand is relatively inelastic,the deadweight loss of a tax is small.(c)缺乏弹性的需求Inelastic Demand税收规模Size of tax24税收扭曲和弹性Tax Distortions and Elasticities QuantityPrice Demand Supply0Size of tax当需求比较富有弹性时,税收的无谓损失大When demand is relatively elastic,the deadweight loss of a tax is large.(d)富有弹性的需求Elastic Demand无谓损失的决定因素Determinants of Deadweight Loss 需求和供给的弹性越大:The greater the elasticities of demand and supply:均衡数量的的减少就越大the larger will be the decline in equilibrium quantity and,税收的无谓损失就越大the greater the deadweight loss of a tax.25无谓损失的争论The Deadweight Loss Debate 一些经济学家认为劳动税是严重扭曲的,因为他们相信劳动供给较为富有弹性Some economists argue that labor taxes are highly distorting and believe that labor supply is more elastic.26无谓损失的争论The Deadweight Loss Debate工人对激励反应较大的例子:Some examples of workers who may respond more to incentives:工人可以调整他们工作的时间Workers who can adjust the number of hours they work家庭有第二个赚钱的人Families with second earners老年人可以选择何时退休Elderly who can choose when to retire考虑从事地下经济Workers in the underground economy27无谓损失和税收收入随税收变动而变动Deadweight Loss and Tax Revenueas Taxes Vary无谓损失和税收收入都随税率增加而增加,税收无谓损失的增加要快于税收规模With each increase in the taxrate, the deadweight loss of thetax rises even more rapidly thanthe size of the tax.2829无谓损失和税收收入Deadweight Loss and Tax Revenue...P B QuantityQ 20PriceQ 1DemandSupply税收收入Tax revenueP S 无谓损失Deadweight loss(a)小额税Small Tax30DemandSupply税收收入Taxrevenue P B QuantityQ 20PriceQ 1P S无谓损失Deadweightloss无谓损失和税收收入Deadweight Loss and Tax Revenue...(b) 中额税Medium Tax31Ta xrevenu eP B QuantityQ 20PriceQ 1DemandSupply P S无谓损失Deadweight loss无谓损失和税收收入Deadweight Loss and Tax Revenue...(c) 大额税Large Tax无谓损失和税收收入Deadweight Loss and Tax Revenue 当小额税时,税收收入小For the small tax, tax revenue is small.当税收规模增加时,税收收入增加As the size of the tax rises, tax revenuegrows.但是当税收规模继续增加时,税收收入减少,因为高税率减小市场的规模But as the size of the tax continues to rise,tax revenue falls because the higher taxreduces the size of the market.32无谓损失和税收收入随税收变动而变动Deadweight Loss and Tax Revenue Vary with the Size of the Tax...(a) 无谓损失Deadweight Loss无谓损失DeadweightLoss0税收规模Tax Size3334无谓损失和税收收入随税收变动而变动Deadweight Loss and Tax Revenue Vary with the Size of the Tax...(b) 收入Revenue(Laffer 曲线the Laffer curve)税收收入Tax Revenue 0税收规模Tax Size无谓损失和税收收入随税收变动而变动Deadweight Loss and Tax Revenue Vary with the Size of the Tax随着税收规模提高,税收的无谓损失迅速扩大As the size of a tax increases, its deadweightloss quickly gets larger.与此相比,随着税收规模提高,税收收入先增加,然后随着税收规模越来越大,市场收缩非常之大,以至于税收收入开始减小By contrast, tax revenue first rises with the size of a tax; but then, as the tax gets larger, themarket shrinks so much that tax revenue starts to fall.35Laffer曲线和供应学派经济学The Laffer Curve andSupply-Side EconomicsLaffer曲线描述了税率和税收收入之间的关系The Laffer curve depicts the relationship between tax rates and tax revenue.供应学派经济学指的是里根和Laffer的观点,他们建议减税会鼓励更多的人工作,由此有潜力增加税收Supply-side economics refers to the views of Reagan and Laffer who proposed that a tax cut would induce more people to work and thereby have the potential to increase tax revenues.36总结Summary一种物品的税收减少了该物品买者与卖者的福利,而且,消费者和生产者剩余的减少通常超过了政府筹集到的收入A tax on a good reduces the welfare of buyers and sellers of the good. And the reduction in consumer and producer surplus usually exceeds the revenues raised by the government.37总结Summary总剩余–消费者剩余、生产者剩余和税收收入之和–的减少被称为税收的无谓损失The fall in total surplus –the sum of consumer surplus, producer surplus, and tax revenue –is called the deadweight loss of the tax.38总结Summary税收有无所损失是因为它引起买者少消费和卖者少生产Taxes have a deadweight loss because they cause buyers to consume less and sellers to produce less.这一行为的变动使市场规模缩小到使总剩余最大化的水平之下This change in behavior shrinks the size of the market below the level that maximizes total surplus.39总结Summary税收增加越多,它对激励的扭曲越大,而且,无谓损失增加也越大As a tax grows larger, it distorts incentives more, and its deadweight loss grows larger.税收收入起初随税收规模扩大而增加Tax revenue first rises with the size of a tax.但是,最终由于高税收减少市场规模,也就减少了税收收入Eventually, however, a larger tax reduces tax revenue because it reduces the size of the market.40。

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