the relationship between market and government
2023-2024学年福建省厦门市高一上学期期中英语质量检测模拟试题(含解析)
2023-2024学年福建省厦门市高一上学期期中英语质量检测模拟试题注意事项：1.答卷前，考生务必将自己的姓名、准考证号填写在答题卡上。
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1.Why does the woman come so early?A.To practice her story.B.To prepare for the exam.C.To tell the man about her story.2.What's the probable relationship between the speakers?A.Nurse and patient.B.ColleaguesC.Friends.3.What will the woman do?A.Teach the kids to play soccer.B.Do Sally a favor.C.Pick up the man's medicine.4.What happened to the woman yesterday?A.She gave her friend a lift.B.She caught a train home.C.Her car broke down.5.Where does the conversation probably take place?A.At a bus stopB.At an airport.C.At a restaurant.第二节（共15小题；每小题1分，满分15分）听下面5段对话或独白。
高级口译教程第七单元
术语准备-补充术语1
高质量发展 high-quality development
术语准备-补充术语2
区域协调发展 coordinated development across regions
跟读练习1
Over the past two decades // since the Party’s 14th National Congress // we have kept searching for a new positioning for // the relationship between the government and the market // through practice and theoretical research. The Party’s 15th National Congress proposed that // “the market plays a basic role // in allocating resources under state macro control,” // the Party’s 16th National Congress proposed to // “give fuller play to the basic role // of the market in allocating resources,” // the Party’s 17th National Congress sought to // “introduce institutions to give better play to the basic role // of the market in allocating resources,” // and the Party’s 18th National Congress stipulated that // the Party should “leverage to a greater extent and in a wider scope // the basic role of the market in allocating resources.” From the above progression // it can be seen that // we have been constantly deepening our understanding // of the government-market relationship.
曼昆经济学原理英文版答案
曼昆经济学原理英文版答案As the creator of the Baidu Wenku document "Principles of Economics by Mankiw (English Version) Answers", I would like to provide a comprehensive guide to the solutions of the questions in the book. This document aims to help students better understand the principles of economics and improve their problem-solving abilities.Chapter 1: Ten Principles of Economics。
1. People face trade-offs.2. The cost of something is what you give up to get it.3. Rational people think at the margin.4. People respond to incentives.5. Trade can make everyone better off.6. Markets are usually a good way to organize economic activity.7. Governments can sometimes improve economic outcomes.8. The standard of living depends on a country's production.9. Prices rise when the government prints too much money.10. Society faces a short-run trade-off between inflation and unemployment.Chapter 2: Thinking Like an Economist。
曼昆经济学原理英文版教案加习题答案第4章THE MARKET FORCES OF SUPPLY AND DEMAND
51WHAT’S NEW IN THE S EVENTH EDITION:The In the News feature “Price Increases after Disasters” has been updated with a new article.LEARNING OBJECTIVES:By the end of this chapter, students should understand:➢ what a competitive market is.➢ what determines the demand for a good in a competitive market.➢ what determines the supply of a good in a competitive market.➢ how supply and demand together set the price of a good and the quantity sold.➢ the key role of prices in allocating scarce resources in market economies.CONTEXT AND PURPOSE:Chapter 4 is the first chapter in a three-chapter sequence that deals with supply and demand and how markets work. Chapter 4 shows how supply and demand for a good determines both the quantity produced and the price at which the good sells. Chapter 5 will add precision to the discussion of supply and demand by addressing the concept of elasticity —the sensitivity of the quantity supplied and quantity demanded to changes in economic variables. Chapter 6 will address the impact of government policies on prices and quantities in markets.The purpose of Chapter 4 is to establish the model of supply and demand. The model of supply and demand is the foundation for the discussion for the remainder of this text. For this reason, time spent studying the concepts in this chapter will return benefits to your students throughout their study of economics. Many instructors would argue that this chapter is the most important chapter in the text.THE MARKET FORCES OF SUPPLY AND DEMAND52 ❖Chapter 4/The Market Forces of Supply and DemandKEY POINTS:• Economists use the model of supply and demand to analyze competitive markets. In a competitive market, there are many buyers and sellers, each of whom has little or no influence on the market price.• The demand curve shows how the quantity of a good demanded depends on the price. According to the law of demand, as the price of a good falls, the quantity demanded rises. Therefore, the demand curve slopes downward.• In addition to price, other determinants of how much consumers want to buy include income, the prices of substitutes and complements, tastes, expectations, and the number of buyers. If one of these factors changes, the demand curve shifts.• The supply curve shows how the quantity of a good supplied depends on the price. According to the law of supply, as the price of a good rises, the quantity supplied rises. Therefore, the supply curve slopes upward.• In addition to price, other determinants of how much producers want to sell include input prices, technology, expectations, and the number of sellers. If one of these factors changes, the supply curve shifts.• The intersection of the supply and demand curves determines the market equilibrium. At the equilibrium price, the quantity demanded equals the quantity supplied.• The behavior of buyers and sellers naturally drives markets toward their equilibrium. When the market price is above the equilibrium price, there is a surplus of the good, which causes the market price to fall. When the market price is below the equilibrium price, there is a shortage, which causes the market price to rise.• To analyze how any event influences a market, we use the supply-and-demand diagram to examine how the event affects equilibrium price and quantity. To do this we follow three steps. First, we decide whether the event shifts the supply curve or the demand curve (or both). Second, we decide which direction the curve shifts. Third, we compare the new equilibrium with the initial equilibrium.• In market economies, prices are the signals that guide economic decisions and thereby allocate scarce resources. For every good in the economy, the price ensures that supply and demand are in balance. The equilibrium price then determines how much of the good buyers choose to consume and how much sellers choose to produce.Chapter 4/The Market Forces of Supply and Demand ❖ 53CHAPTER OUTLINE: I. Markets and CompetitionA. What Is a Market?1. Definition of market: a group of buyers and sellers of a particular good or service.2. Markets can take many forms and may be organized (agricultural commodities) or lessorganized (ice creamB. What Is Competition?1. Definition of competitive market: a market in which there are so many buyers andso many sellers that each has a negligible impact on the market price.2. Each buyer knows that there are several sellers from which to choose. Sellers know that each buyer purchases only a small amount of the total amount sold.C. In this chapter, we will assume that markets are perfectly competitive.1. Characteristics of a perfectly competitive market:a. The goods being offered for sale are exactly the same.b. The buyers and sellers are so numerous that no single buyer or seller has any influence over the market price.2. Because buyers and sellers must accept the market price as given, they are often called "price takers."3. Not all goods are sold in a perfectly competitive market.a. A market with only one seller is called a monopoly market.b. Other markets fall between perfect competition and monopoly.54 ❖ Chapter 4/The Market Forces of Supply and DemandD. We will start by studying perfect competition.1. Perfectly competitive markets are the easiest to analyze because buyers and sellers take the price as a given.2. Because some degree of competition is present in most markets, many of the lessons that we learn by studying supply and demand under perfect competition apply in morecomplicated markets.II. DemandA. The Demand Curve: The Relationship between Price and Quantity Demanded1. Definition of quantity demanded: the amount of a good that buyers are willing andable to purchase.2. One important determinant of quantity demanded is the price of the product.a. Quantity demanded is negatively related to price. This implies that the demand curve isdownward sloping.b. Definition of law of demand: the claim that, other things being equal, thequantity demanded of a good falls when the price of the good rises .3. Definition of demand schedule: a table that shows the relationship between theprice of a good and the quantity demanded. Price of Ice-Cream ConeQuantity of Cones Demanded$0.0012 $0.5010 $1.008 $1.506 $2.004 $2.502 $3.00Figure 1Make sure that you explain that, when we discuss the relationship between quantity demanded and price, we hold all other variables constant. You will need toemphasize this more than once to ensure that students understand why a change inprice leads to a movement along the demand curve.Chapter 4/The Market Forces of Supply and Demand ❖ 554. Definition of demand curve: a graph of the relationship between the price of a good and the quantity demanded.a. Price is generally drawn on the vertical axis.b. Quantity demanded is represented on the horizontal axis. B. Market Demand versus Individual Demand1. The market demand is the sum of all of the individual demands for a particular good orservice.2. The demand curves are summed horizontally —meaning that the quantities demanded are added up for each level of price.3. The market demand curve shows how the total quantity demanded of a good varies with the price of the good, holding constant all other factors that affect how much consumers want to buy.C. Shifts in the Demand Curve1. Because the market demand curve holds other things constant, it need not be stable overtime.56 ❖ Chapter 4/The Market Forces of Supply and Demand2. If any of these other factors change, the demand curve will shift.a. An increase in demand is represented by a shift of the demand curve to the right.b. A decrease in demand is represented by a shift of the demand curve to the left.3. Incomea. The relationship between income and quantity demanded depends on what type of good the product is.b. Definition of normal good: a good for which, other things equal, an increase in income leads to an increase in demand.c. Definition of inferior good: a good for which, other things equal, an increase inincome leads to a decrease in demand.4. Prices of Related Goodsa. Definition of substitutes: two goods for which an increase in the price of one good leads to an increase in the demand for the other.b. Definition of complements: two goods for which an increase in the price of one good leads to a decrease in the demand for the other.5. Tastes6. Expectationsa. Future incomeb. Future prices7. Number of BuyersChapter 4/The Market Forces of Supply and Demand ❖57D. Case Study: Two Ways to Reduce the Quantity of Smoking Demanded1. Public service announcements, mandatory health warnings on cigarette packages, and theprohibition of cigarette advertising on television are policies designed to reduce the demandfor cigarettes (and shift the demand curve to the left).2. Raising the price of cigarettes (through tobacco taxes) lowers the quantity of cigarettesdemanded.a. The demand curve does not shift in this case, however.b. An increase in the price of cigarettes can be shown by a movement along the originaldemand curve.3. Studies have shown that a 10% increase in the price of cigarettes causes a 4% reduction inthe quantity of cigarettes demanded. For teens, a 10% increase in price leads to a 12% dropin quantity demanded.4. Studies have also shown that a decrease in the price of cigarettes is associated with greateruse of marijuana. Thus, it appears that tobacco and marijuana are complements.III. SupplyA. The Supply Curve: The Relationship between Price and Quantity Supplied1. Definition of quantity supplied: the amount of a good that sellers are willing andable to sell.a. Quantity supplied is positively related to price. This implies that the supply curve will beupward sloping.b. Definition of law of supply: the claim that, other things equal, the quantitysupplied of a good rises when the price of the good rises.2. Definition of supply schedule: a table that shows the relationship between the priceof a good and the quantity supplied.58 ❖ Chapter 4/The Market Forces of Supply and Demand3. Definition of supply curve: a graph of the relationship between the price of a good and the quantity supplied. Price of Ice-Cream ConeQuantity of Cones Supplied$0.000 $0.50 0 $1.001 $1.502 $2.003 $2.504 $3.005B. Market Supply versus Individual Supply1. The market supply curve can be found by summing individual supply curves.2. Individual supply curves are summed horizontally at every price.3. The market supply curve shows how the total quantity supplied varies as the price of thegood varies.C. Shifts in the Supply Curve1. Because the market supply curve holds other things constant, the supply curve will shift ifany of these factors changes.a. An increase in supply is represented by a shift of the supply curve to the right.b. A decrease in supply is represented by a shift of the supply curve to the left.Figure 5Figure 7Figure 6You will want to take time to emphasize the difference between a “change in supply” and a “change in quantity supplied.”Chapter 4/The Market Forces of Supply and Demand ❖ 592. Input Prices3. Technology4. Expectations5. Number of Sellers IV. Supply and Demand TogetherA. Equilibrium1. The point where the supply and demand curves intersect is called the market’s equilibrium.2. Definition of equilibrium: a situation in which the market price has reached thelevel at which quantity supplied equals quantity demanded.3. Definition of equilibrium price: the price that balances quantity supplied andquantity demanded.4. The equilibrium price is often called the "market-clearing" price because both buyers andsellers are satisfied at this price.Table 2Figure 8 Students will benefit from seeing equilibrium using both a graph and a supply-and-demand schedule. The schedule will also make it easier for students to understand concepts such as shortages and surpluses.60 ❖Chapter 4/The Market Forces of Supply and Demand5. Definition of equilibrium quantity: the quantity supplied and the quantitydemanded at the equilibrium price.6. If the actual market price is higher than the equilibrium price, there will be a surplus of thegood.Figure 9a. Definition of surplus: a situation in which quantity supplied is greater thanquantity demanded.b. To eliminate the surplus, producers will lower the price until the market reachesequilibrium.7. If the actual price is lower than the equilibrium price, there will be a shortage of the good.a. Definition of shortage: a situation in which quantity demanded is greater thanquantity supplied.b. Sellers will respond to the shortage by raising the price of the good until the marketreaches equilibrium.8. Definition of the law of supply and demand: the claim that the price of any goodadjusts to bring the supply and demand for that good into balance.B. Three Steps to Analyzing Changes in Equilibrium 1. Decide whether the event shifts the supply or demand curve (or perhaps both). 2. Determine the direction in which the curve shifts.3. Use the supply-and-demand diagram to see how the shift changes the equilibrium price andquantity. C. Example: A change in market equilibrium due to a shift in demand —the effect of hot weather onthe market for ice cream.D. Shifts in Curves versus Movements along Curves1. A shift in the demand curve is called a "change in demand." A shift in the supply curve iscalled a "change in supply."2. A movement along a fixed demand curve is called a "change in quantity demanded." Amovement along a fixed supply curve is called a "change in quantity supplied." E. Example: A change in market equilibrium due to a shift in supply —the effect of a hurricane thatdestroys part of the sugar-cane crop and drives up the price of sugar.F. Example: Shifts in both supply and demand —the effect of hot weather and a hurricane thatdestroys part of the sugar cane crop. G. Summary1. When an event shifts the supply or demand curve, we can examine the effects on theequilibrium price and quantity.ALTERNATIVE CLASSROOM EXAMPLE:Go through these examples of events that would shift either the demand or supply of #2 lead pencils:▪ an increase in the income of consumers▪ an increase in the use of standardized exams (using opscan forms) ▪ a decrease in the price of graphite (used in the production of pencils) ▪ a decrease in the price of ink pens ▪ the start of a school year▪ new technology that lowers the cost of producing pencils.2. Table 4 reports the end results of these shifts in supply and demand.H. In the News: Price Increases after Disasters1. When a disaster strikes a region, many good experience an increase in demand or a decreasein supply resulting in upward pressure on prices.2. This article from defends price increases following natural disasters as a naturalresult of market interactions.V. Conclusion: How Prices Allocate ResourcesA. The model of supply and demand is a powerful tool for analyzing markets.B. Supply and demand together determine the prices of the economy’s goods and services.1. These prices serve as signals that guide the allocation of scarce resources in the economy.2. Prices determine who produces each good and how much of each good is produced.SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes1. A market is a group of buyers (who determine demand) and a group of sellers (whodetermine supply) of a particular good or service. A perfectly competitive market is one inwhich there are many buyers and many sellers of an identical product so that each has anegligible impact on the market price.2. Here is an example of a monthly demand schedule for pizza:Price of Pizza Slice Number of Pizza Slices Demanded$ 0.00 100.25 90.50 80.75 71.00 61.25 51.50 41.75 32.00 22.25 12.50 0The demand curve is graphed in Figure 1.Figure 1Examples of things that would shift the demand curve include changes in income, prices ofrelated goods like soda or hot dogs, tastes, expectations about future income or prices, andthe number of buyers.A change in the price of pizza would not shift this demand curve; it would only lead to amovement from one point to another along the same demand curve.3. Here is an example of a monthly supply schedule for pizza:Price of Pizza Slice Number of PizzaSlices Supplied$ 0.00 00.25 1000.50 2000.75 3001.00 4001.25 5001.50 6001.75 7002.00 8002.25 9002.50 1000The supply curve is graphed in Figure 2.Figure 2Figure 3Examples of things that would shift the supply curve include changes in prices of inputs like tomato sauce and cheese, changes in technology like more efficient pizza ovens or automatic dough makers, changes in expectations about the future price of pizza, or a change in the number of sellers.A change in the price of pizza would not shift this supply curve; it would only lead to amovement from one point to another along the same supply curve.4. If the price of tomatoes rises, the supply curve for pizza shifts to the left because there hasbeen an increase in the price of an input into pizza production, but there is no shift indemand. The shift to the left of the supply curve causes the equilibrium price to rise and the equilibrium quantity to decline, as Figure 3 shows.If the price of hamburgers falls, the demand curve for pizza shifts to the left because thelower price of hamburgers will lead consumers to buy more hamburgers and fewer pizzas,but there is no shift in supply. The shift to the left of the demand curve causes theequilibrium price to fall and the equilibrium quantity to decline, as Figure 4 shows.Figure 4Questions for Review1. A competitive market is a market in which there are many buyers and many sellers of anidentical product so that each has a negligible impact on the market price. Another type ofmarket is a monopoly, in which there is only one seller. There are also other markets that fallbetween perfect competition and monopoly.2. The demand schedule is a table that shows the relationship between the price of a good andthe quantity demanded. The demand curve is the downward-sloping line relating price andquantity demanded. The demand schedule and demand curve are related because thedemand curve is simply a graph showing the points in the demand schedule.The demand curve slopes downward because of the law of demand—other things beingequal, when the price of a good rises, the quantity demanded of the good falls. People buyless of a good when its price rises, both because they cannot afford to buy as much andbecause they switch to purchasing other goods.3. A change in consumers' tastes leads to a shift of the demand curve. If the change inconsumers' tastes leads to an increase in demand, consumers want to buy more of this goodat every price level. A change in price leads to a movement along the demand curve.Because price is measured on the vertical axis, a change in the price represents a movementalong the demand curve.4. Because Popeye buys more spinach when his income falls, spinach is an inferior good for him.His demand curve for spinach shifts out to the right as a result of the decrease in his income.5. A supply schedule is a table showing the relationship between the price of a good and thequantity a producer is willing and able to supply. The supply curve is the upward-sloping linerelating price and quantity supplied. The supply schedule and the supply curve are related because the supply curve is simply a graph showing the points in the supply schedule.The supply curve slopes upward because when the price is high, suppliers' profits increase, so they supply more output to the market. The result is the law of supply—other things being equal, when the price of a good rises, the quantity supplied of the good also rises.6. A change in producers' technology leads to a shift in the supply curve. A change in priceleads to a movement along the supply curve.7. The equilibrium of a market is the point at which the quantity demanded is equal to quantitysupplied. If the price is above the equilibrium price, sellers want to sell more than buyers want to buy, so there is a surplus. Sellers try to increase their sales by cutting prices. That continues until they reach the equilibrium price. If the price is below the equilibrium price, buyers want to buy more than sellers want to sell, so there is a shortage. Sellers can raise their price without losing customers. That continues until they reach the equilibrium price.8. When the price of beer rises, the demand for pizza declines, because beer and pizza arecomplements and people want to buy less beer. When we say the demand for pizza declines, we mean that the demand curve for pizza shifts to the left as in Figure 5. The supply curve for pizza is not affected. With a shift to the left in the demand curve, the equilibrium price and quantity both decline, as the figure shows. Thus, the quantity of pizza supplied anddemanded both fall. In sum, supply is unchanged, demand is decreased, quantity supplied declines, quantity demanded declines, and the price falls.Figure 59. Prices play a vital role in market economies because they bring markets into equilibrium. Ifthe price is different from its equilibrium level, quantity supplied and quantity demanded are not equal. The resulting surplus or shortage leads suppliers to adjust the price untilequilibrium is restored. Prices thus serve as signals that guide economic decisions andallocate scarce resources.Quick Check Multiple Choice1. b2. b3. d4. b5. a6. cProblems and Applications1. a. Cold weather damages the orange crop, reducing the supply of oranges and raising theprice of oranges. This leads to a decline in the supply of orange juice because orangesare an important input in the production of orange juice. This can be seen in Figure 6 asa shift to the left in the supply curve for orange juice. The new equilibrium price is higherthan the old equilibrium price.Figure 6b. People often travel to the Caribbean from New England to escape cold weather, so thedemand for Caribbean hotel rooms is high in the winter. In the summer, fewer peopletravel to the Caribbean, because northern climates are more pleasant. The result, asshown in Figure 7, is a shift to the left in the demand curve. The equilibrium price ofCaribbean hotel rooms is thus lower in the summer than in the winter, as the figureshows.Figure 7c. When a war breaks out in the Middle East, many markets are affected. Because a largeproportion of oil production takes place there, the war disrupts oil supplies, shifting thesupply curve for gasoline to the left, as shown in Figure 8. The result is a rise in theequilibrium price of gasoline. With a higher price for gasoline, the cost of operating agas-guzzling automobile like a Cadillac will increase. As a result, the demand for usedCadillacs will decline, as people in the market for cars will not find Cadillacs as attractive.In addition, some people who already own Cadillacs will try to sell them. The result isthat the demand curve for used Cadillacs shifts to the left, while the supply curve shifts to the right, as shown in Figure 9. The result is a decline in the equilibrium price of used Cadillacs.Figure 8 Figure 92. The statement is false. As Figure 10 shows, in equilibrium the increase in demand fornotebooks results in an increased quantity demanded and the quantity supplied.Figure 10 Figure 113. a. If people decide to have more children, they will want larger vehicles for hauling theirkids around, so the demand for minivans will increase. Supply will not be affected. The result is a rise in both the price and the quantity sold, as Figure 12 shows.Figure 12 Figure 13b. If a strike by steelworkers raises steel prices, the cost of producing a minivan rises andthe supply of minivans decreases. Demand will not be affected. The result is a rise in the price of minivans and a decline in the quantity sold, as Figure 13 shows.c. The development of new automated machinery for the production of minivans is animprovement in technology. This reduction in firms' costs will result in an increase in supply. Demand is not affected. The result is a decline in the price of minivans and an increase in the quantity sold, as Figure 14 shows.Figure 14d. The rise in the price of sport utility vehicles affects minivan demand because sport utilityvehicles are substitutes for minivans. The result is an increase in demand for minivans.Supply is not affected. The equilibrium price and quantity of minivans both rise, as Figure12 shows.e. The reduction in peoples' wealth caused by a stock-market crash reduces their income,leading to a reduction in the demand for minivans, because minivans are likely a normal good. Supply is not affected. As a result, both the equilibrium price and the equilibrium quantity decline, as Figure 15 shows.Figure 154. a. DVDs and TV screens are likely to be complements because you cannot watch a DVDwithout a television. DVDs and movie tickets are likely to be substitutes because a movie can be watched at a theater or at home. TV screens and movie tickets are likely to besubstitutes for the same reason.b. The technological improvement would reduce the cost of producing a TV screen, shiftingthe supply curve to the right. The demand curve would not be affected. The result is that the equilibrium price will fall, while the equilibrium quantity will rise. This is shown inFigure 16.Figure 16c. The reduction in the price of TV screens would lead to an increase in the demand forDVDs because TV screens and DVDs are complements. The effect of this increase in the demand for DVDs is an increase in both the equilibrium price and quantity, as shown inFigure 17.Figure 17The reduction in the price of TV screens would cause a decline in the demand for movie tickets because TV screens and movie tickets are substitute goods. The decline in thedemand for movie tickets would lead to a decline in the equilibrium price and quantitysold. This is shown in Figure 18.Figure 185. Technological advances that reduce the cost of producing computer chips represent a declinein an input price for producing a computer. The result is a shift to the right in the supply of computers, as shown in Figure 19. The equilibrium price falls and the equilibrium quantity rises, as the figure shows.Figure 19Because computer software is a complement to computers, the lower equilibrium price of computers increases the demand for software. As Figure 20 shows, the result is a rise in both the equilibrium price and quantity of software.Figure 20Because typewriters are substitutes for computers, the lower equilibrium price of computers reduces the demand for typewriters. As Figure 21 shows, the result is a decline in both the equilibrium price and quantity of typewriters.Figure 216. a. When a hurricane in South Carolina damages the cotton crop, it raises input prices forproducing sweatshirts. As a result, the supply of sweatshirts shifts to the left, as shownin Figure 22. The new equilibrium price is higher and the new equilibrium quantity ofsweatshirts is lower.。
新编金融英语教程 Chapter5 Exchange Rate
5.2 Key Points
5.2.1 Definition of Exchange Rate
Exchange Rate
The exchange rate is the ratio of the currency of one country to the currency of another country or the price of one currency in another currency.
Given that different currencies in the world have different names and values, it is necessary for countries to set a rate, at which they can exchange their currencies. This rate is called the exchange rate.
We begin by identifying the major factors that can alter demand:
Yen/dollar
100 50
Supply of dollars
A
B
Demand
of
dollars
Demand for dollars after rise in U.S. price
Chapter 5
江西省抚州市金溪县第一中学2024-2025学年高三上学期11月联考英语试卷(含答案)
江西省2025届高三11月阶段检测考高三英语试卷试卷共8页，67小题，满分150分。
考试用时120分钟。
注意事项：1．考查范围：高中全部内容。
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3．回答选择题时，选出每小题答案后，用铅笔把答题卡上对应题目的答案标号涂黑。
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写在本试卷上无效。
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考试结束后，请将答题卡交回。
第一部分听力（共两节，满分30 分）做题时，先将答案标在试卷上，录音内容结束后，你将有两分钟的时间将试卷上的答案转涂到答题卡上。
第一节（共5小题；每小题1.5分，满分7.5分）听下面5段对话。
每段对话后有一个小题，从题中所给的A、B、C 三个选项中选出最佳选项，并标在试卷的相应位置。
听完每段对话后，你都有10秒钟的时间来回答有关小题和阅读下一小题。
每段对话仅读一遍。
例：How much is the shirtA．19.15. B．9.18. C．9.15.答案是C。
1．What kind of beefsteak would the man likeA．Medium rare one. B．Medium one. C．Well done one. 2．What is the man doing nowA．Making a call. B．Making a bid. C．Applying a bid. 3．What’s the woman’s last nameA．Nangong qing. B．Qing. C．Nangong.4．What does the man want to doA．Make a reservation. B．Buy a restaurant. C．Change a room. 5．What will the man probably wearA．Blue pants. B．White coat. C．Shorts.第二节（共15小题；每小题1.5分，满分22.5分）听下面5段对话或独白，每段对话或独白后有几个小题，从题中所给的A、B、C三个选项中选出最佳选项，并标在试卷的相应位置。
国际贸易名词解释英文及简答论述期末考试复习
国际贸易英文名词解释International Trade国际贸易International trade is the international exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices, or supply and demand, affect and are affected by global events.Free Trade自由贸易The main idea of free trade is that supply and demand factors, operating on a global scale, will ensure that production happens efficiently. Therefore, nothing needs to protect or promote trade and growth because market forces will do so automatically.Protectionism贸易保护主义In contrast, protectionism holds that regulation of international trade is important to ensure that markets function properly. Advocates of this theory believe that market inefficiencies may hamper the benefits of international trade and they aim to guide the market accordingly. Production Possibilities Curve /Frontier生产可能性曲线/边界A Production Possibilities Frontier is a graph that shows the various combinations of output that the economy can possibly produce, given the available factors of production and the existing technology . Opportunity Cost机会成本Opportunity Cost means whatever must be given up to obtain some item.Supply Curve供给曲线A Supply Curve is a graph that shows the relationship between the price of a good and the quantity supplied.Demand Curve 需求曲线A Demand Curve is a graph that describes the relationship between the price of a good and the quantity demanded.Excess Supply Curve出口供给曲线Because Excess Supply is a situation in which quantity supplied is greater than quantity demanded, Excess Supply Curve can be defined as a graph that depicts the relationship between the price and the available quantity for export of a product. Excess Supply Curve can be derived from subtracting a supply curve with a corresponding demand curve.Excess Demand Curve进口需求曲线Because Excess Demand is a situation in which quantity demanded is greater than quantity supplied, Excess Demand Curve can be defined as a graph that depicts the relationship between the price and the desirable quantity for import of a product. Excess Demand Curve can be derived from subtracting a demand curve with a corresponding supply curve.Consumer Surplus消费者剩余Consumer Surplus means a buyer’s willingness to pay minus the amount the buyer actually pays. Consumer surplus measures the benefit to buyers of participating in a market.Producer Surplus 生产者剩余Producer Surplus is the amount a seller is paid for a good minus the seller’s cost. Producer surplus measures the benefit to sellers of participating in a market.Economies of Scale规模经济Economies of Scale means the property whereby the long-run average cost falls as the quantity of output increases.Diseconomies of Scale规模不经济Diseconomies of Scale means the property whereby the long-run average cost rises as the quantity of output increases.Constant Returns to Scale规模报酬不变Constant Returns to Scale means the property whereby the long-run average cost stays the same as the quantity of output changes. Indifference Curve无差异曲线Indifference Curve is a curve that shows consumption bundles that give the consumer the same level of satisfaction.The Gravity Model引力模型In its basic form, the gravity model assumes that only size and distance 经济规模和距离 are important for trade in the following way：Tij = A x Yi x Yj /Dij两国之间的贸易规模与经济规模成正比,与两国之间的距离成反比;Service Outsourcing服务外包Service outsourcing occurs when a firm that provides services moves its operations to a foreign location.服务外包是指一个企业将原本由自己提供的服务转移给国外供应商;Mercantilism重商主义Belief that nation could become rich and powerful only by exporting more than it imported.Mercantilists measured wealth of a nation by stock of precious metals it possessedAbsolute Advantage绝对优势A nation has absolute advantage over another nation if it can produce a commodity more efficiently. When one nation has absolute advantage in production of a commodity, but an absolute disadvantage with respect to the other nation in a second commodity, both nations can gain by specializing in their absolute advantage good and exchanging part of the output for the commodity of its absolute disadvantage.Comparative Advantage比较优势Even if one nation is less efficient than has absolute disadvantage with respect to the other nation in production of both commodities, there is still a basis for mutually beneficial trade.Production Possibilities生产可能性The production possibility frontier PPF of an economy shows the maximum amount of a goods that can be produced for a fixed amount of resources.Factor Endowment 要素禀赋the overall amount of productive factors , such as capital, labor, and land, available to one nation.Factor Abundance要素丰裕度There are two ways to define factor abundance. One way is in terms of physical units., in terms of the overall amount of capital and labor available to each nation. Another way is in terms of relative factor price., in terms of the rental price of capital and the price of labor time in each nation.Factor Intensity 要素密集度In a world of two commodities X and Y and two factors labor and capital, at any given wage-interest, we say that commodity Y is capital intensive if the capital-labor ratio K/L used in the production of Y is greater than K/L used in the production of X.Heckscher-OhlinTheoremH-O定理An economy is predicted to export goods that are intensive in its abundant factors of production and import goods that are intensive in its scarce factors of production.一个国家将出口密集使用其相对丰富要素的商品,进口密集使用其相对稀缺要素的商品;Stolper-Samuelson theorem S-S定理:长期内,出口产品生产部门密集使用的生产要素本国的充裕要素的报酬提高；进口产品生产中密集使用的生产要素本国的稀缺要素的报酬下降;The factor price equalization theorem要素价格均等化定理Because relative output prices are equalized and because of the direct relationship between output prices and factor prices, factor prices are also equalized. 由于产品价格和要素价格的一一对应关系,贸易后,产品相对价格的趋同会导致土地和劳动的相对价格的趋同Economies of scale规模经济Economies of scale could mean either that larger firms or a larger industry is more efficient: the cost per unit of output falls as a firm or industry increases output.Internal economies of scale内部规模经济Internal economies of scale occur when the cost per unit of output depends on the size of a firm.随着工厂或企业规模的扩大,单位产品成本下降; External economies of scale外部规模经济External economies of scale occur when cost per unit of output depends on the size of the industry.是指行业规模经济,由于行业内企业数量的增加和产业集聚所引起的产业规模的扩大,使行业中的单个企业获得单位成本下降的好处;Monopolistic competition垄断竞争Monopolistic competition is a model of an imperfectly competitive industry 垄断竞争是一个不完全竞争产业模式Inter-industry Trade产业间贸易Trade occurs only between industries贸易只在产业之间发生Intra-industry Trade产业内贸易Trade occurs within the industry由于产品的多样化或经济规模的扩大等原因,贸易在产业内发生Index of intra-industrial trade, IIT产业内贸易指数表示产业内贸易在国际贸易中所占比重,用来衡量产业内贸易的发展程度; Dumping 倾销Dumping is the practice of charging a lower price for exported goods than for goods sold is an example of price discrimination价格歧视: the practice of charging different customers different prices.倾销的前提条件：imperfect competition exists: firms are able to influence market prices.不完全竞争的存在：企业能够影响价格markets are segmented so that goods are not easily bought in one market and resold in another. and Anti-Dumping;市场是分割的,以至于商品Anti-Dumping反倾销Dumping as well as price discrimination in domestic markets is widely regarded as unfair. 倾销被认为是一种不公平的贸易行为The Commerce Department may impose an “anti-dumping duty反倾销税,” or tax, as a precaution against possible injury.External Economies外部经济External economies: a country that has a large industry will have low average costs of producing that industry’s good or service.当规模经济存在于一个行业内部而不是单个厂商内部时,就被称作外部经济Dynamic Increasing Returns动态收益递增Dynamic increasing returns to scale exist if average costs fall as cumulative output over time rises.当平均成本随着累积产量而非当前产量的增加而下降的情形就是动态规模报酬递增learning curve学习曲线A graphical representation of dynamic increasing returns to scale is called a learning curve学习曲线.The efficiency case for free trade自由贸易的效率.The first case for free trade is the argument that producers and consumers allocate resources most efficiently when governments do not distort market prices through trade policy.Political argument for free trade主张自由贸易的政治依据Political argument for free trade,says that free trade is the best feasible political policy, even though there may be better policies in principle.The Terms of Trade Argument for a Tariff赞成关税的贸易条件改善论For a “large” country, a tarif f or quota lowers the price of imports in world markets and generates a terms of trade gain. In fact, a small tariff will lead to an increase in national welfare for a large country.The Optimum Tariff最优关税For a large country, there is an optimum tariff t0 at which the marginal gain from improved terms of trade just equals the marginal efficiency lossfrom production and consumption distortion.A tariff rate tp that completely prohibits imports leaves a country worse off, but tariff rate t0 may exist that maximizes national welfare: an optimum tariff.The Domestic Market Failure Argument Against Free Trade反对自由贸易的国内市场失灵论A second argument against free trade is that domestic market failures 国内市场失灵 may exist that cause free trade to be a suboptimal policy 次优政策.theory of the second best次优理论The domestic market failure argument against free trade is an example of a more general argument called the theory of the second best次优理论.次优理论认为,在任何一个市场上,只有所有其他市场都能正常发挥作用时,自由放任才是最理想的政策；如果不是这样,政府干预虽会扭曲市场激励,但有可能通过抵消市场失灵的影响而增加国家福利;Median Voter Theorem中点选民理论The median voter theorem predicts that democratic political parties may change their policies to court争取 the voter in the middle of the ideological spectrum意识形态范围 ., the median voter. 越接近中点选民意见的政策越能得到大多数选民的支持;Collective Action 集体行动While consumers as a group have an incentive to advocate free trade,each individual consumer has no incentive because his benefit is not large compared to the cost and time required to advocate free that impose large losses for society as a whole but small losses on each individual may therefore not face strong opposition.国际贸易简答题1. 贸易引力模型的主要内容及运用;在其他条件不变的情况下,两个国家间的贸易与两国的国内生产总值成正比,与两国间的距离成反比;引力模型的重要用途之一就是有助于明确国际贸易中的异常现象;运用：贸易引力模型不是万能的,对于服务贸易和资本贸易领域验证效果不显着,对于商品贸易领域的验证效果显着;实例比较：中国与日本&中国与越南的商品贸易量对比比较生产总值,中国与东盟&中国与美国的商品贸易量对比比较距离2. 重商主义、绝对优势理论、比较优势理论的贸易思想及贸易政策主张;重商主义认为,一个国家的财富由其拥有的贵金属代表,拥有的贵金属越多,这个国家就越富有;由于世界资源是有限的,因此,国与国之间的经济交往是一种零和博弈,即一方所得为另一方所失;对于国际贸易,贸易盈余是贸易所得,而贸易赤字为贸易所失,因此重商主义主张贸易要实现盈余;在当时的金属本位币制度下,贸易盈余意味着贵金属的流入,这将有助于缓解货币缺口;绝对优势理论：当两个国家生产两种商品,使用一种生产要素——劳动时,如果刚好A国家在一种商品上劳动生产率高,B国家在这种商品上劳动生产率低,则A国该商品生产上具有绝对优势;两国按各自的绝对优势进行专业生产分工并参与贸易,则两国都能从贸易中得到利益;这种贸易利益来自专业化分工促进劳动生产率的提高;比较优势理论：如果一个国家在本国生产一种产品的机会成本低于在其他国家生产该种产品的机会成本,则这个国家在生产该种产品上就拥有比较优势;贸易政策：每个国家都出口本国具有比较优势的商品;3. 衡量比较优势的主要指标;如果一个国家在本国生产一种产品的机会成本用其他产品来衡量低于在其他国家生产该种产品的机会成本的话,则这个过家在生产该种产品上就拥有比较优势;4. 要素禀赋理论的贸易思想、政策主张以及贸易对收入分配的影响;要素禀赋理论：根据生产要素禀赋理论,在各国生产同一产品的技术水平相同的情况下,两国生产同一产品的价格差来自于产品的成本差别,这种成本差别来自于生产过程中所使用的生产要素的价格差别,这种生产要素的价格差别则决定于该国各种生产要素的相对丰裕程度;一个国家供给相对多的生产要素,称为这个国家的充裕要素；供给相对少的要素,称为这个国家的稀缺要素;国际贸易收入分配效应的一般结论如下：一个国家充裕要素的所有者可以从贸易中获利,稀缺要素的所有者会因贸易而受损;5. H-O理论和S-S定理的主要内容及其运用;H-O理论：一个国家将出口密集使用其相对丰富要素的商品,进口密集使用其相对稀缺要素的商品;S-S定理：长期内,出口产品生产部门密集使用的生产要素本国的充裕要素的报酬提高；进口产品生产中密集使用的生产要素本国的稀缺要素的报酬下降;6. 要素价格均等化定理的主要内容及要素价格均等化实现的前提条件;要素价格均等化定理：由于产品价格和要素价格的一一对应关系,贸易后,产品相对价格的趋同会导致土地和劳动的相对价格的趋同前提条件：1 两个国家同时生产两种相同的产品；2 两国的技术水平相同； 3 贸易会使得两个国家的产品价格相等;7. 产业内贸易的基础;产业内贸易是产业内国际贸易的简称,是指一个国家或地区,在一段时间内,同一产业部门产品既进口又出口的现象;产业内贸易还包括中间产品的贸易,即是某项产品的半制成品、零部件在两国间的贸易;产业内贸易是建立在不完全竞争的基础上的;8. 产业内贸易发生需要具备的条件;造成产业内贸易现象的主要原因基础：1、产品差异2、规模经济3、消费者需求偏好差别 4、国家之间产品层次结构和消费层次结构的重叠10. 倾销以及反倾销需要满足的前提条件;倾销：指一国或地区的生产商或出口商以低于其正常价格或低于成本将其商品销售到另一国或地区市场的行为;确定某出口产品是否存在倾销,主要看这一产品是否以低于它的正常价格在国外市场销售;倾销实际是一种国际间的价格歧视,出口企业实施倾销必须具备三个条件：1企业在国内市场上有一定的垄断力量,有能力决定其销售价格;2本国和外国市场是分割的,本国出口产品不能回流;3出口商在国外市场面临较高的需求弹性;反倾销：是指进口国主管当局根据受到损害的国内企业的申诉,按照一定的法律程序对以低于正常价格在进口国进行销售的、并对进口国生产相似产品的产业造成法定损害的外国产品,进行立案、调查和处理的过程和措施;进口国实施反倾销措施必须满足三个条件：1 倾销成立；2 国内产业受到实质性损害；3 倾销与损害有因果关系;11.结合名义关税率和有效保护率评价关税的贸易保护作用;名义保护率：表示实施保护政策后一种商品的国内价格高于国际价格的百分率; 有效保护率：指一个国家的一整套贸易政策使某一产业每单位产出的增加值提高的百分率;评价:当最终产品的名义保护率大于原材料等中间产品的名义保护率时,最终产品的有效保护率就大于其名义保护率；当最终产品的名义保护率小于原材料等中间产品的名义保护率时,最终产品的有效保护率就小于其名义保护率；只有当最终产品的名义保护率等于原材料等中间产品的名义保护率时,最终产品的有效保护率才等于其名义保护率;研究关税结构,区分名义保护率与实际保护率的差异,具有重要的意义;当最终产品名义税率一定时,对所需的原材料等中间投入品征收的名义税率越低,则最终产品名义税率的保护作用就越大有效保护率越高;因此,如果要保护某产业,不仅要考虑对该产业最终产品的关税率,而且要把整个关税结构与该产业的生产结构结合起来进行考虑,再来制定相应的政策措施;基于有效保护率的考虑,发达国家常常采用逐步升级的关税结构关税升级：对初级产品进口免税或只征很低的关税,对半成品征收较高的关税,但对制成品,特别是劳动密集型制成品征收更高的关税;关税升级的结果是：国内加工程度越深,有效保护率超出名义保护率的比率就越大;12. 从量关税与从价关税的比较;从价关税ad valorem tariff是以进口商品的价格为标准计征的关税,其税率表现为货物价格的一定百分率;从价税随商品价格的变动而变动,商品价格上涨,从价税额也随之增加,因此其保护作用受价格变动的影响较大;在通货膨胀时,从价税有较强的保护作用;从价税不具有累进性和累退性,按照商品价格的一定比例征收;一些特殊商品如绘画等艺术品的价格相差悬殊,适合从价税;从量关税specific tariff是根据商品的的实物单位重量、数量、长度、容积和面积等征收的关税;从量税操作简单,海关人员只需要将商品按照重量、体积等进行分类即可;在征收从量税的情况下,商品价格下跌时,实际上等于增加了关税,因而从量关税对外国出口商的低价倾销有着较高的保护作用;从量税具有累退性,对发展中国家的出口不利;因为发展中国家出口的制成品和半制成品大多属于低档货,如果进口国仍按一定数量征收一定的关税,这与同一种商品中的高档货相比,等于提高了关税税率;13. 进口配额与关税的比较;进口配额import quota又称进口限额,是一国政府在个一定时期如一个季度、半年或一年内,对某些商品的进口数量或金额加以直接的数量控制;在规定的期限内,配额以内的货品可以进口,超过配额的不能进口,或者征收较高的关税或罚款;它是众多国家实行进口数量限制的重要手段之一;关税是对通过一国关境海关的贸易商品课征的税收,是历史上最重要的一类贸易壁垒;在竞争条件下,进口配额对本国生产、消费、价格的影响与征收同样数量的进口关税相似,只不过关税是通过提高进口商品的价格来减少进口和增加国内生产,而配额则从相反的途径,即先减少进口造成价格上涨从而增加国内生产;对政府收入的影响：配额对国内经济福利的影响与关税不同之处主要反映在政府税收上;关税给政府带来收益,而配额带来的“经济租”c则不一定归政府所有;“经济租”的归属取决于政府如何分配进口配额;配额相对于关税的优点:第一,配额可以比关税更有效地控制进口；第二,实施配额更灵活,政府可以通过发放进口许可证随时调节进口数量；第三,配额给政府更多的权力；第四,配额比关税承受相对小的国际贸易自由化压力;14. “自愿”出口配额的优点及其本质;国家一般都是鼓励出口的,某些国家往往用配额来限制资源性产品和农产品的出口;除了保护本国的资源供给以外,现实世界中的出口配额往往是出口国家或地区在进口国的要求或压力下“自动”制定的;所以出口配额又称“自愿”出口配额; 优点：增强企业的出口竞争力;如果企业通过获得出口许可证,将获得的额外出口利润用于再投资,则可能增强企业竞争力;实施自愿出口配额,在出口国可能形成既得利益集团;“自愿”出口配额是由出口国直接控制这些商品对指定进口国家的出口;但是就进口国单方面来说,自动出口配额象绝对进口配额一样,起到了限制商品进口的作用,因而其实质还是进口配额,具有等效进口配额的所有经济效应;15. 产业补贴政策与关税、配额的比较;出口补贴,又称出口奖金,它是政府为了降低出口商品的价格,增强出口商品在国外市场上的竞争力,在出口某种商品时给予出口厂商的补贴;包括直接补助和间接补助;直接补助是政府直接向出口商提供现金补助,或津贴;间接补助是政府对选定商品的出口给予财政税收上的优惠;关税是对通过一国关境海关的贸易商品课征的税收,是历史上最重要的一类贸易壁垒;配额是指对进出口商品的数量或金额加以限制,分为进口配额和出口配额两种; 进口配额import quota指一国政府在一定时期内,对某些商品的进口数量或金额加以直接的限制,在规定的配额内,商品可以进口,超过的则不准进口,或征收较高的关税,甚至罚款;它分为绝对配额和关税配额两种形式;关税、配额与补贴是一个国家用来保护国内市场、帮助国内厂商抵御国外对手竞争的常用措施;由于保护机制不同,关税、配额与补贴对不同利益主体的利益再分配会产生不同的影响：1.关税措施有利于生产者和政府,不利于消费者；2.配额措施有利于生产者,不利于消费者,政府利益影响则视乎配额的分配方式而定；3.补贴措施有利于生产者和消费者,不利于政府;一个国家可以根据其要保护的利益主体不同采取相应的保护措施;进口配额与关税的比较对需求变化的反应不同;进口配额将进口限定到一个确定的水平,而进口关税的贸易效果则不确定;进口配额涉及进口配额的发放,而关税则没有内在作用机制不同;对生产者的保护程度不同对消费者福利的损失程度不同16. 小国和大国征收进口关税的经济效应;所谓小国指不是某种商品的重要的进口国；大国,指某种商品的重要进口国;大小国征收关税上消费效应,生产效应和贸易效应等等;1.消费效应;小国征收关税后,国内市场价格上升造成需求下降,人们消费水平收缩或减少；大国征收关税后,因国内市场价格上涨,使消费水平减少;2.生产效应;小国征收关税后,国内市场价格因进口减少而上升,国内厂商扩大生产,产量增加；大国征收关税后,国内产品价格上升,产量提高,生产者剩余增加;3.税收效应;小国征收的税收将由政府获得,形成政府的财政收入；大国征收关税后,政府财政收入增加;4.保护效应;小国征收关税后,国内价格上升,原来在世界价格下因成本太高而退出生产的厂商,这时在较高价格下又重新进入生产,国内供给增加;而,大国征收关税,税率越高,关税的保护作用越大;除此之外,大国征收关税后产生的效应不同于小国的有：1大国征收关税后,使该进口商品的的国内价格上升,而国内该进口商品的价格上升会引导国内生产扩大,消费减少,总体效果会使进口需求下降;该大国进口的下降又使得该商品的国际市场供应量增加,直接导致该商品的世界市场价格下降;大国的贸易条件改善,即会产生贸易条件效应,这是在小国情形下所没有的效应;2大国征收关税所得财政税收效应比小国情形时大;18. 小国实施进口配额的经济效应;进口配额是指一国政府在一定时期内,对于某些商品的进口数量或金额加以直接限制的措施,它对于进口的阻碍作用是十分明晰的;一、进口配额的含义指一国政府在一定时期内,对于某些商品的进口数量或金额加以直接限制的措施; 在实践中存在着超过配额不得进口绝对配额与对超额进口部分实行惩罚性关税关税配额,以及针对国别与全球发放进口配额的做法;二、进口配额的效应1、贸易小国进口配额的效应小国模型国内价格从到；生产者剩余：增加了部分；消费者剩余减少：配额的净福利效应：配额净损失：：一种垄断利润;也许归之于获得进口配额的企业,也许进入政府;2、贸易大国进口配额的效应消费者剩余：减少了图a中的P1P0FB 部分；生产者剩余：增加了图a中的P1P0CA 部分;在大国条件下,由于大国对一种商品的供求变化会影响到商品出口国的国内供求变化,因此大国实施配额限制不仅会减少本国的福利,而且还将减少外国的福利;19. 支持贸易自由化和支持贸易保护的主要观点及其理由;支持贸易自由化的主要观点：1、支持自由贸易效率的观点：生产者和消费者最有效地分配资源时,政府通过贸易政策不扭曲市场的价格;2、自由贸易的额外收益：1自由贸易避免了寻租所带来的效率损失;2在被保护的市场中,不仅生产被分割,而且由于减少了竞争和提高了利润,从而吸引了太多的厂商进入被保护的行业;在一个狭小的国内市场中拥挤着那么多的厂商,各厂商的生产规模都很小;3自由贸易后,企业可以寻求新的出口途径和参与同进口产品的竞争,从而获得比管理贸易下多得多的学习和革新的机会;3、支持自由贸易的政治依据：尽管理论上可能还有比自由贸易更好的政策,但现实中,从政治上认可和支持自由贸易的原则也许更重要;理由：自由贸易可以避免保护政策所带来的效率损失;除了消除生产与消费的扭曲,自由贸易还能产生额外的收益;即使在认为自由贸易并非绝对完美之策的经济学家中,仍有许多人相信在通常情况下自由贸易比其他任何可供采取的替代政策都要好;支持贸易保护的主要观点：1赞成关税的贸易条件改善论;支持非自由贸易政策的论据之一就直接来自成本——收益分析：对一个能够影响出口国价格的大国而言,关税可以降低进口产品的价格从而使贸易条件得到改善,但这一收益必须抵补剔除关税带来的成本,因为它扭曲了生产与消费的动因,但是,在某些情况下,贸易条件改善的收益可能会超过其成本;2反对自由贸易的国内市场失灵论;国内市场失灵论实质上是经济学中所说的次优理论的特例;该理论认为,在任何一。
逻辑结构The-Relationship-between-Return-and-Market-Value-of-Common-Stocks
The Relationship between Return and Market Value of Common Stocks文章的逻辑结构：1、导入，2、方程及模型，3、数据，4、实证结果，5、结论1、导入 开门见山，说明本文的研究目的是为了研究股票市值（即公司规模）和收益之间的关系。
资本资产定价模型是有问题的。
E(r i ) 是资产i 的预期回报率r f 是无风险利率βim 是[[Beta 系数]]，即资产i 的系统性风险E(r m ) 是市场m 的预期市场回报率E(r m )-r f 是市场风险溢价（market risk premium ），即预期市场回报率与无风险回报率之差。
问题就在于，这个证券预期收益和市场风险之间是一个简单线性的关系，而且这个模型忽略了一些其他的影响因素。
2、模型及方法实证研究是基于一般资产定价模型，普通股的期望收益率是关于风险β，一个附加的因素φ，公司资产市值的函数。
假设一个简单线性模型：()i R E = i 证券的期望收益率β为证券i 的系统风险0γ=零风险（0-β）组合的期望收益率1γ=市场风险溢价的期望i Φ= i 证券的市值m Φ=平均市值2γ =衡量i Φ（i 股票市值）对证券期望收益率贡献的常数如果i Φ和期望收益不相关，也就是2γ=0，则上述函数关系就变成Black(1972)的资本资产定价模型（零β CAPM ）。
方程（1）是本文做实证的基本模型，其最终目的就是看到底2γ是正的还是负的。
j w 是每个资产j 的投资组合比例，j=1,..., N.由于0γ、1γ、2γ是无法直接通过观测得到的， 因此我们要用历史数据来对他们进行估计。
方程（2）由方程（1）演变而来，对方程（1）中的参数做了大致的界定和约束：0ˆγ是0-β的标准最小方差投资组合（1=∑j j w ）的平均收益率，m j jj p w Φ=Φ≡Φ∑[为了使方程（2）右边的第二项和第三项消失] 。
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The relationship between market and government We have learned that Britain’s economic system is a unique mix, which comprises open markets, active government intervention, organized collective bargaining and lobbying, well-defined business structures as well as adherence to global trading rules.
In my opinion, the relationship between Britain’s market and government is that the government intervenes the market when there is soothing wrong between demand and supply, such as gluts and shortages; whereas, a prosperous market can strengthen the domination of government and improve people’s living condition .In addition, market and government are both components of Britain’s economy for the reason that the government intervenes in their markets to achieve a balanced income distribution and a more fair distribution of important cargos and services. With government taxation from the market, government can spend it in meeting people’s n eeds, police and fire protection, education, medical care, and social infrastructure.
Furthermore, market activities and government actions should obey the law. Only in this way, can market and government can run well, or so, the suppliers in the market are just concerned about profits in spite of other things; in the same condition, the government will be a mess.。