金融英语课后练习答案APPENDIX KEY TO THE EXERCISES.docVIP

chapter 1 The Gold Standard Era, 1870 — 1914 4. automatic mechanism of adjustment 自动调节机制 achievement of balance of payments equilibrium 达到国际收支平衡 the response of central banks to gold flows across their borders各国央行对跨国境黄金流动量的反应 meet their obligation to redeem currency notes 履行（他们的）职责兑换流通券 ensure full employment 确保全民就业 subordination of economic policy to external objectives 对外部目标经济政策的依赖性 tried to reconcile the goals of internal and external balance 试图调整对内对外收支的目标 . Give the Chinese meaning of these plurals. 1. international reserves 国际储备（额/量） gold flows 黄金流通量 net imports 净进口（量） capital outflows 资金外流量 domestic assets 国内资产 Ⅲ. Put these paragraphs into Chinese. 1. However, research has shown that countries often reversed the steps mentioned above and sterilized gold flows, that is, sold domestic assets when foreign reserves were rising and bought domestic assets as foreign reserves fell. Government interference with private gold exports also undermined the system. The picture of smooth and automatic balance of payments adjustment before World War I therefore did not always match reality. 然而，研究表明各国经常反道而行之，他们制止黄金的流动，也就是说，当外国储备升高时他们售出国内资产，而当外国储备下降时，他们购买国内资产。政府对私人黄金出口的干预也破坏了该体系。第一次世界大战前平衡自动的国际收支调整情形常常与现实不相吻合。 2. The gold standard regime has conventionally been associated with three rules of the game. The first rule is that in each participating country the price of the domestic currency must be fixed in terms of gold. Since the gold content in one unit of each currency was fixed, exchange rates were also fixed. This was called the mint parity. The second rule is that there must be a free import and export of gold. The third rule is that the surplus country, which is gaining gold, should allow its volume of money to increase while the deficit country, which is losing gold, should allow its volume of money to fall. 金本位制按惯例与三条规则有关联。第一条规则是每个参加国其国内货币价格以黄金来确定。由于每一货币单位的黄金含量是固定的，所以汇率也是不变的。这叫做铸币平价。第二条规则是黄金须自由进出口。第三条规则为顺差国，即得到黄金的国家应允许其货币量增加，而逆差国，即失去黄金的国家则允许其货币量减少。 3. Central banks ex