专业英语阅读（国贸专业）课程作业（A）浙江外国语学院国际工商管理学院 教师 刘钢I. Translate the following economic terms.（210=20 points） （i） From English into Chinese： 1. credit crunch 信贷危机2. liquidity 流动性3. junk bond 垃圾债券4. laissez-faire 自由放任5. convertible currency 可兑换货币（ii） From Chinese into English： 6. 外国直接投资foreigh direct investment7. 资产负债表 balance sheet 8. 微型萧条 mini-depression9. 要素禀赋 fact endowment10. 自愿出口限制 VERs(Voluntary Export Restraints). Fill in each of the following 10 blanks with an appropriate word（Choose 10 words from the given 12 words in the box, but each word can be used only once.）(210=20 points)import other production export profitable haveemphasizes but absolute than efficiency theory International trade is often explained by the theory of comparative advantage, also called the comparative cost theory. This (1)_ theory was developed by David Ricardo, John Stuart Mill, and (2) other _ economists in the nineteenth century. The theory (3)_ emphasizes that different countries or regions have different (4) absolute _ possibilities. A tropical climate is better suited for growing bananas (5) than _ a cold one. A country like Norway could produce bananas in hot houses, (6) but _ it is cheaper for Norway to (7) import _ bananas than to produce them. Thus, climate establishes a trade pattern between a northern and a southern country. In other cases the availability of natural resources may be a trade factor.The theory of comparative cost points out that trade between countries can be (8) profitable _ for all, even if one of the countries can produce every commodity more cheaply. As long as there are minor, relative differences in the (9) efficiency _ of producing a commodity, even the poor country can (10) have _ a comparative advantage in producing it.III. Mark the following 20 statements T (True ) or F (False ) according to the information provided in the given text.（220=40 points）The development of modem nationalism during the 16th century shifted attention to the problem of increasing the wealth and power of the various nation-states. The economic policy of the leaders of that time, known as mercantilism, sought to encourage national self-sufficiency. The heyday (兴盛期) of the mercantilist school (学派) in England and Western Europe occurred during the 16th through the early 18th centuries. Mercantilists valued gold and silver as an index of national power. Without the gold and silver mines in the New World from which Spain drew its riches, a nation could accumulate these precious metals only by selling more merchandise to foreigners than it bought from them. This favorable balance of trade necessarily compelled foreigners to cover their deficits by shipping gold and silver. Mercantilists took for granted that their own country was either at war with its neighbors, recovering from a recent conflict, or getting ready to plunge into a new war. With gold and silver, a ruler could hire mercenaries (唯利是图的人) to fight, a practice followed by King George III of the United Kingdom of Great Britain when he used Hessian troops during the American Revolution. As needed, the monarch (君主) could also buy weapons, uniforms, and food to supply the soldiers and sailors. Mercantilist preoccupation with precious metals also inspired several domestic policies. It was vital for a nation to keep wages low and the population large and growing. A large, ill-paid population produced more goods to be sold at low prices to foreigners. Ordinary men and women were encouraged to work hard and avoid such extravagances (奢侈品) as tea, gin（杜松子酒）, ribbons（缎带）, and silks. It also followed that the earlier that children began to work, the better it was for their countrys prosperity. One mercantilist writer had a plan for children of the poor: When these children are four years old, they shall be sent to the county workhouse and there taught to read two hours a day and be kept fully employed the rest of the time in any of the manufactures of the house which best suits their age, strength, and capacity. As a coherent economic theory, classical economics starts with Smith, continues with the British economists Thomas Robert Malthus and David Ricardo, and culminates in (告终于) the synthesis of John Stuart Mill, who as a young man was a follower of Ricardo. Although differences of opinions were numerous among the classical economists in the three-quarters of a century between Smiths Wealth of Nations and Mills Principles of Political Economy (1848), members of the group agreed on major principles. All believed in private property, free markets, and, in Mills words, that only through the principle of competition has political economy any pretension (借口, 托词) to the character of a science. They shared Smiths strong suspicion of government and his ardent (坚定的) confidence in the power of self-interest represented by