Chapter6homework解析.doc

Ⅰ. Translate the following Chinese expressions into English: 债务延期偿还权debt moratorium 沉重的碳减排目标 unwieldy target of carbon-emission reduction 配给制 system of rationing and allocation 库存inventory stock 集体意志至上 primacy of community will 投资组合 investment portfolio 可再生能源renewable energy 风险资本投资venture capital investment 新办企业 start-up companies 资源的稀缺性 scarcity of resources 重税 hefty taxes 费用报销 expense claims （大幅）裁员 slash jobs 大幅削减预算赤字 slash budget deficit 采取渐进步骤 take incremental steps 兜售 hawk/tout 力行强力的举措 push through the toughest initiatives 巨大的消费市场mega consumer market 经济影响力 economic clout 国企私有化/民营化 privatization of state-owned enterprises 经济弱势群体 economically under-privileged groups 市场体系中固有的经济掣肘 economic restrictions inherent in the market system 生产指令 production directives 社会福利最优 social welfare optimum 主观价值判断 subjective value judgment 政府特许垄断 government-granted monopoly 贸易禁运 trade embargo 经济制裁 economic sanctions 经济封锁 economic blockade 宏观经济变量 macroeconomic variables 总需求 aggregate demand 财政补贴政策 policy of fiscal subsidies 政府参股 government equity participation 税收减免 tax breaks 农业补贴制度 farm subsidy regime 主权债务违约 sovereign default 紧急流动性援助 emergency liquidity facility 法定存款准备金率 ratio of reserve requirement/Required deposit reserve ratio 量化宽松的货币政策 Quantitative easing 远期债券 longer-dated securities 需求拉动型通胀 demand-pull inflation 经常项目顺差 current-account surplus 纾困基金 bail-out fund 扶贫资金 poverty-relief fund 信贷紧缩/危机 credit crunch Ⅱ. Explain the following terms 1. A sovereign wealth fund (SWF)（ 主权财富基金is a state-owned investment fund investing in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund （私人股权投资）or hedge funds（对冲基金）. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which acc