金融英语练习答案.pdf

金融英语练习答案: Lesson 1 I. 1.need 2.specialization 3.double coincidence of wants 4.exchange rate 5. money 6.medium of exchange 7. Commodity money such as corn 8.Commodity / common standard value 9. store of wealth 10.parchasing power 11.Banknotes. 12.Fiduciary money 13.redemption rate 14.Fiat money 15. legal tender 16.fiduciary money 17.paper money 18.price level 19.reserve rax 20. check II Translation: 1. Money mainly serves three functions :a medium of exchange, a standard of value and a store of wealth. 2. The greater the specialization in the division of labor increased ,the more difficult in finding goods that have a double coincidence of wants. 3. The value of money is reflected by its purchasing power. 4. Fiat money is declared legal tender by the government ,meaning that creditors must accept it as payment for debt. 5. The bearers/holders of fiduciary money may require bank to redeem for gold or other valuable commodity. 6. The fractional reserve banking system requires the banks to keep certain reserve ratio. 7. The money that most countries in the world use today is fiat money. 8. The wide application of fiduciary money reduces that cost of transactions. 9. There were several metals which have been used as commodity money in the history, such as iron, copper, gold ,silver and so on. 10. The value of fiat money lies in that people believe that it can be exchanged for commodity and service. Lesson 2: I.1.investors 2.consumoption / saving 3.enterprises 4. savings 5.investment 6.home 7.loan 8.deposit 9.uill rise 10.fall II 1. The interest rate refers to the ratio of the interest amount to the proceeds deposited and loaned in a given period. 2. In