Chapter 6 home work

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1、9Ⅰ.TranslatethefollowingChineseexpressionsintoEnglish:债务延期偿还权debtmoratorium沉重的碳减排目标unwieldytargetofcarbon-emissionreduction配给制systemofrationingandallocation库存inventorystock集体意志至上primacyofcommunitywill投资组合investmentportfolio可再生能源renewableenergy风险资本投资venturecapitalinvestment新办企业start-upcompanies资源的稀

2、缺性scarcityofresources重税heftytaxes费用报销expenseclaims（大幅）裁员slashjobs大幅削减预算赤字slashbudgetdeficit采取渐进步骤takeincrementalsteps兜售hawk/tout力行强力的举措pushthroughthetoughestinitiatives巨大的消费市场megaconsumermarket经济影响力economicclout国企私有化/民营化privatizationofstate-ownedenterprises经济弱势群体economicallyunder-privilegedgroups市

3、场体系中固有的经济掣肘economicrestrictionsinherentinthemarketsystem生产指令productiondirectives社会福利最优socialwelfareoptimum主观价值判断subjectivevaluejudgment政府特许垄断government-grantedmonopoly贸易禁运tradeembargo经济制裁economicsanctions经济封锁economicblockade宏观经济变量macroeconomicvariables总需求aggregatedemand财政补贴政策policyoffiscalsubsidie

4、s政府参股governmentequityparticipation税收减免taxbreaks农业补贴制度farmsubsidyregime主权债务违约sovereigndefault紧急流动性援助emergencyliquidityfacility法定存款准备金率ratioofreserverequirement/Requireddepositreserveratio量化宽松的货币政策Quantitativeeasing远期债券longer-datedsecurities需求拉动型通胀demand-pullinflation经常项目顺差current-accountsurplus纾困基金

5、bail-outfund扶贫资金poverty-relieffund信贷紧缩/危机creditcrunch999Ⅱ.Explainthefollowingterms1.Asovereignwealthfund(SWF)（主权财富基金）isastate-ownedinvestmentfundinvestinginrealandfinancialassetssuchasstocks,bonds,realestate,preciousmetals,orinalternativeinvestmentssuchasprivateequityfund（私人股权投资）orhedgefunds（对冲基金）

6、.Sovereignwealthfundsinvestglobally.MostSWFsarefundedbyrevenuesfromcommodityexportsorfromforeign-exchangereservesheldbythecentralbank.Somesovereignwealthfundsmaybeheldbyacentralbank,whichaccumulatesthefundsinthecourseofitsmanagementofanation'sbankingsystem;thistypeoffundisusuallyofmajoreconomicand

7、fiscalimportance.Othersovereignwealthfundsaresimplythestatesavingsthatareinvestedbyvariousentitiesforthepurposesofinvestmentreturn,andthatmaynothaveasignificantroleinfiscalmanagement.主权财富，相对应于私人财富，是通过特定税收与预算分配、国际