Key to ExercisesChapter 1IV. Choose one of the four choices to best fit the sentence. 1.In measuring GDP，goods produced by foreign firms in the host country are counted.2.GDP is counted using two methouds:one which counts all the ways people earn money and another which counts all the ways people spend.4.What does GDP consist of ?Personal consumption ,investment ,and government purchases.5.The Consumer Price Index could most closely be associated with a measure of the price level .6.B7.D8.C9.DV. Please translate the following sentences into Chinese.1. GDP稳定增长表明经济健康发展；而GPD下滑预示经济出现问题；GDP大幅下降则意味着经济进入衰退期。
2. GDP不能从长远的角度反映经济的发展潜力，尤其是对于资源出口型经济的第三世界国家。
3. 从另一个重要角度来说，GDP并不是衡量可持续性收入的好标准。
4. GDP 忽略了非市场交易的活动，不管这些活动对社会多么有益。
5. 货币有时被称为“通用商品”，因为它可以和任何其它商品进行交换。
6. 现金和活期账户上的钱没有什么区别。
7. 银行创造的货币量取决于存款的总量以及法定存款准备金的比率。
8. 如果联邦储备局想增加货币供应量，它必须提高银行的存款准备金率。
Case study (reference answer)1.What is the relationship between economic development andenvironmental protection?There is a link among environmental conditions, quality of life and economic growth. Economic growth needs natural resources, but it can not be pursued at the cost of environmental damage. Environmental protection is crucial to social welfare and sustainable economic development.2.As a developing country, how can China coordinateeconomic growth and environmental protection?It is not enough to rely on the enterprises’ self-consciousnessto protect the environment since they are profit-driven. The government should shoulder the major responsibility of regulating and supervising environmental protection. Laws and regulations concerning environmental protection and anti-pollution should be formulated and enforced without delay.3.How to reasonably utilize natural resources when Chinacarries out its sustainable development plan?The most important thing is to develop long-term plans for utilizing resources and protecting environment. Short-term economic growth does not mean sustainable development.When utilizing natural resources, the government should take measures to supplement natural resources, such as forestation and water conservancy. Energy-saving industry and the application of environment-friendly technologies and techniques should be encouraged and promoted.Chapter 2I. Definitions1.E-commerceElectronic commerce can be defined as the carrying out of once manual business transactions between cooperating parties using electronic means. The two main current classifications of e-commerce are business-to-business and business-to-consumertransactions. It involves more than the simple buying and selling of commodities and services - it includes such activities as share trading, electronic funds transfer, bills of lading, direct marketing to the consumer, and after-sales services, to mention but a few. New applications are being introduced on a daily basis.2.WTOWTO is the successor of GATT (General Agreement on Tariffs and Trade), it is the multinational institution that polices the globe trading system, promoting free trade, and resolving trade disputes between member nations. Nowadays, as the most influential global trade organization, WTO coordinates efforts to further reduce the trade barriers and facilitates the globalization3. Green trade barrierThe so-called green trade barrier is refers to one kind take to protect the limited resources, the environment and the people's health, through deliberately formulates the environmental protection standard which a series of makes excessive demands, to comes performs from the overseas product or the service to limit. It belongs to one kind of new non- pass sharp barrier form, has more and more become somenational international trade policy measure a part.II. Choose one of the four choices to best fit the sentence.1. A2.C3.D4.D5.DIII. Please answer the following questions briefly.1.Accession to the WTO meets China's own need forreform, opening up and economic development. The WTO is an important international organization handling trading problems in today's world. Its basic functions are to formulate and supervise the implementation of multilateral trading rules, to organize multilateral trade negotiations and solve trade disputes among its Members, and to play an irreplaceable role in world economic and trade development. At present, the trade volume among the WTO Members accounts for 95 percent of the global trade total. China's entry into the WTO, the world's largest multilateral trading system, will further strengthen China' s economic and trade relations with various countries and regions around the world. It will expand new areas for China' s opening to the outside world, and will help promote the improvement of China's socialist market economic system. It will inject fresh life into the nationaleconomy for the promotion of sustained, rapid and sound development(持续、快速、健康的发展). This is identical to(与…相符的) China's objective for reform, opening up and establishing a socialist market economic system. Accession to the WTO is required for China's in-depth participation in the process of economic globalization. Economic globalization is an important characteristic of today' s world economic development. Under the impetus of the rapid development of science and technology, it is a profound industrial structural readjustment(产业结构调整) carried out globally with the global operation of transnational companies(跨国公司) as the carrier. Economic globalization is the trend of world economic development.Accession to the WTO will help China continue to intensify economic restructuring and promote the national economic structural readjustment and the upgrading of industry (产业升级);·It will help expand total employment volume and raise people's living standards;·It will help display comparative advantages(比较优势), further expand exports and make better use of foreign capital;·It is conducive(有利于) to implementing the strategy of"going globe-wide", and to participating in international competition and cooperation in a broader world;·It is advantageous to China's participation in the formulation of international economic and trading rules, and to China's share of the benefits brought about by the multilateral trading system and economic globalization.2.China's accession to the WTO is also required by theWTO itself. China is the largest developing country in the world. Without China's participation, the WTO will be incomplete and will be unable to express the universality(普遍性) and fairness of the multilateral trading system. China's entry into the WTO will play an active and constructive role in starting a new round of multilateral trade talks and in establishing a new international economic order. After entry into the WTO, China's economic system will conform more closely to the common international rules and will greatly help improve China' s industrial and investment environment.In the meantime, China's huge market potential will be gradually transformed into real purchasing power, thereby providing an enormous market and business opportunity for various countries and regions around the world. This will definitely enable China to make new contributions that willbenefit all mankind.3.It is a double-edged sword(双刃剑). When it is properlyused, China will benefit from it; when it is improperly used, China will suffer harm. The crux(关健)of the matter is how to comprehensively treat this trend. This requires that China should join in the international division of labor and cooperation under the conditions of economic globalization, pursue the benefits while avoiding the detriments(避害), make full use of its favorable factors and resources to speed up its own development and expansion, and provide against possible unfavorable factors and risks. Through joining the WTO, China will further speed up the pace of improving the socialist market economic structure, and opening to the outside world in a wider scope and at a deeper level. This will create an important structural condition and policy guarantee for our effective participation in economic globalization.Government departments are required to make necessary conceptual and structural adjustments(观念上和结构上的调整) in economic management, and corresponding changes should also be made in enterprises' management and system(管理机制); Along with the inflow of more foreign products and service trades into the domestic market, someChinese industries will face fiercer competition. and even be threatened with bankruptcy; Enterprises without scale economy, or strong capacity for technological transformation and innovation, or modern management, will even be threatened with bankruptcy. China must make adequate provision for this.4.The main functions of WTO can be described in verysimple terms.These are:1. To oversee implementing and administering WTOagreements;2. To provide a forum for negotiations;3. To provide a dispute settlement mechanism.5. The principles of WTO1). Trade without discrimination(A). Most-favored-nation（MFN）：(B). National treatment; Treating foreigners and locals equally2). Freer trade3). Predictability4). Promoting fair competition5). Encouraging development and economic reform6)．Transparency(A).Keeping the WTO informed(B).Keeping the public informedThe main functions of WTO can be described in very simple terms.These are:1. To oversee implementing and administering WTO agreements;2. To provide a forum for negotiations;3. To provide a dispute settlement mechanism.VI. Please translate the following sentences into Chinese. 1.在虚拟空间里，政府发现几乎不可能实行在现实世界贸易里运用的法规。