经贸知识英语复习资料

一、Fill in the blanks.(20×2’=40’)

1. Money has evolved from commodity money–which has use value as well as value as a medium of exchange–to non-commodity money–which has little or no use value. Non-commodity money is cheap to produce and use, while commodity money involves a high opportunity cost because its non-monetary value is sacrificed. Since non-commodity money is so easy to produce, there is always a danger that is will be overproduced.

2. Changes in the money supply or its rate of growth influence such economic variables as the unemployment rate, aggregate output, inflation, foregin exchange rate and stock market fluctuation.

3. The value of an item is a measure of what a person will sacrifice to obtain it. Value is psychological evaluation on items rather than decided by the cost or time human spent in producing them.

4. The M-1 aggregate is meant to approximate the transactions balances concept of money. M-1 consists of currency in circulation, traveler’s checks, demand deposits, and certain other checkable deposits, such as automatic transfer service (ATS) account.

5. PPI is formerly known as the “all-commodities” wholesale price index. Actually, it measures average changes in price received by domestic producers for their output. The producer price index is of general interest since it is often a precursor of price level changes at the retail level.

6. Based on the cost of a fixed basket of approximately 400 goods and services, including food, fuel, clothing, education, medical services, housing, and interest rates, CPI can be used to measure inflation or price level, Obviously, some items are much more important elements of consumer spending than others, therefore, different weights must be assigned to each of the goods and services contained in the market basket. In china, CPI does not include housing, and the weight assigned to education and medical services is very low.

7. The functions of money include: medium of exchange, standard of value, standard of deferred payment, and store of value as well as a macroeconomic control function.

8. The term Quad is know as the richest four region of the world: the USA, the European Union, Japan and Canada.

9. MNEs have three distinctive characteristics: enormous in size, wide geographical spread and longevity.

10.In the complex economic world，no country can be completely self-sufficient．The distribution of natural resources is uneven．

11. FOB, CFR and CIF are the three most frequently used terms in the international business contract. About them, there is one thing we should mention, the side (rail) of the ship is always considered as the dividing line to divide whether the goods have been successfully delivered or not by the seller.

12. Written negotiations often begin with enquiries made by the buyer, in response to an enquiry，a quotation may be sent by the exporter which should include all the necessary information required by the enquiry．The validity period is indispensable to a firm offer．An offer is considered open until after a stipulated time or until it is accepted or rejected. The offeree may find part of the offer unacceptable and may raise for further discussions on his own proposals which constitute a counter-offer．It is a refusal of the offer which will be in valid and unbinding once a counter-offer is made．The counter offer thus becomes a new offer made by the original offeree to the original offerer．

13. It must be noted that if there is no specific indication whether a credit is revocable or irrevocable，it should be regarded as irrevocable.

14. If the establishing bank is a reliable prime bank, confirmation may not be necessary．

15. Most of China’s export contracts stipulate for sight credit in payment terms．

16. Obviously，a sight credit calls for a sight draft. Usance credit requires a usance draft．

17. If the beneficiary wishes to get payment before the maturity of the draft he can ask the bank to discount the acceptance，and immediately pay him the net proceeds，i．e．the face value of the draft minus the discount charges.