（4）People tend to spend less when they are afraid of becoming unemployed. （5）Companies only invest while consumption is increasing.
（6）Internal theories of the business cycle don not include psychological factors. （7）Mortgage means the money borrowed in order to buy a house or flat.
（8）Internal theories consider it to be self-generating, regular, and indefinitely repeating. （9）The business cycle is a temporary feature of market economies. （10）Economists sometimes describe contraction as ‘negative growth’. 参考答案：（1）F（2）T（3）F（4）T（5）T（6）F（7）T（8）T（9）F（10）T
Part 3 Comprehensive Exercises
3.1 Filling in the blanks with the words in the box.
extension forgive brings rightly qualities fashion unrecognizable symbol smiles personally It has been a _________________ nowadays that people own private cars. It has been
_____________ said that owning a private car is a _____________ of living a high-quality life. But, _______________ , when a man is sitting behind a steering wheel, his car becomes the _______________ of his personality. There is no doubt that the motor-car often _____________ out a man’s very worst _____________. People who are normally quiet and pleasant may become ____________ when steering a wheel. The surprising thing is that society _________________ so kindly on the motorist and seems to ________________ his for his behavior. 参考答案(1) fashion (2) rightly (3) symbol (4) personally (5) extension (6) brings (7) qualities (8) unrecognizable (9) smiles (10) forgive
3.2 Translate the Chinese words into English.
(1) 财政赤字 a fiscal allotment
(2) 经济危机 b gross domestic product(GDP) (3) 财政政策 c economic recovery (4) 商业模式 d commercial invoice (5) 收支平衡 e business model (6) 财政拨款 f balance of payment (7) 商业发票 g trade secret (8) 经济复苏 h financial policy (9) 商业机密 i economic crisis (10) 国内生产总值 j financial deficit
参考答案：（1）j （2）i （3）h （4）e （5）f （6）a （7）d （8）c （9）g （10）b
3.3 Filling the blanks according to the Chinese sentence.
(1)Internal theories consider it ________________ . (内部的理论认为经济周期是本身自生的，有规律的合无限重复的)
(2) , it was suggested that the business cycle results from people infecting one another with optimistic or pessimistic expectation.(早在19世纪中期就有人提出经济周期是人们用乐观或悲观的期望互相影响的结果)
(3)If interest rates rise too high , than they anticipated on their mortgage or rent, and so have to consume less.(如果利率上升太高，许多人发现他们在商业按揭或租金上的支出超过他们的预料，因而不得不减少消费)
(4) of equilibrium, geometric compatibility, and material behavior. (重点是在三个基本平衡法则，几何兼容性和物质特征。)
答案：(1)to be self-generating, regular, and indefinitely repeating(2)As far back as the mid-nineteenth century (3)a lot of people find themselves paying more (4)Emphasis on the three basic principles
3.4 Sentence Translation.
(1)This new answer is better, so therefore the assumption is wrong and we should always choose
to remove the largest gap. (2)At the same time, Japan slides deeper into a slump, and we see all the output declines of this
past year repeated. (3)Securities crime is the inevitable phenomenon as the development of the stock market. (4)How do you evaluate the budget in your present position? 答案：
(1)这个新的解是更好的,所以这个假设是错误的，我们总是应该选择去掉最大的空隙。 (2)与此同时，日本将陷入更深的经济衰退困境；今年各方面所经历的出产量衰退情况将会重现。(3)证券犯罪是随着证券市场的发展而必然出现的现象。 (4)您如何评价自己当前工作岗位的预算情况？
Unit 26 Keynesianism and monetarism
Part 2 Vocabulary Exercises
2.1 Choose the best word to fill in the gap.
(1) Music makes you buy more. Stores _____________sales by adjusting the tempo of the music they play. Research has determined that people buy more when listening to slow ballads. A recover B boost C revere D boom
(2) Japan's Cabinet has approved a defense report that urges the country to quickly finish building a missile defense system to ______________ the potential threat from North Korea. A recover B boost C revere D counter
(3) You'll have to be strict with your students. They quickly get ______________. A on hand B out of hand C off hand D by hand (4) He inquired________________ her husband's health in her letter. A after B into C for D about
(5) First published in 1927, the charts remain an _______________ source for researchers. A intelligent B indispensable inevitable D identical
(6) Please____________ dictionaries when you are not sure of word spelling or meaning. A search B seek C inquire D consult
(7) It _____________ you to at least 50% off the regular price of either frames or lenses when you buy both.
A credits B entitles C presents D tips
(8) The _____________ at the military academy is so rigid that students can hardly bear it. A confinement B convention C discipline D principle (9) Doctors warned against chewing tobacco as a _____________ for smoking.
A succession B substitute C revival D relief
(10) It was the first time that such a _____________ had to be taken at a British nuclear power station.
A presentation B preparation C prediction D precaution
(11) The test results are beyond_____________; they have been repeated in labs all over the world.
A conflict B dispute C bargain D negotiation
(12) The group of technicians are engaged in a study which ______________ all aspects of urban planning.
A embraces B performs C inserts D grips
(13) ______________ that he wasn’t happy with the arrangements. I tried to book a different hotel.
A Puzzling B Penetrating C Perceiving D Persevering (14) His business was very successful, but it was at the __ of his family life. A exhaustion B consumption C credit D expense
(15) She managed to save_____________ she could out of her wages to help her brother. A how little money B so little money C such little money D what little money
参考答案(1)B (2)D (3)B (4)A (5)B (6)D (7)B (8)C (9)B (10)D (11)B (12)A (13)C (14)D (15)D
2.2 Match the words 1-10 to their definitions A-L. There are two extra definitions you do not need to use.
（1）supply a. government or central bank measures concerning
the rate of growth of the money supply
（2）demand b. an economic theory holding that variations in
unemployment and the rate of inflation are usually caused by changes in the supply of money
（3）expenditure c. a state of economic prosperity
（4）boom d. existing as an essential constituent or
characteristic （5）equilibrium e. the act of spending money for goods or
services （6）fiscal policy f. the willingness and ability to offer goods or
services for sale
（7）monetary policy g. the willingness and ability of consumers to
purchase goods and services
（8）monetarism h. government measures concerning taxation,
public expenditure, and so on
（9）boost i. gradual healing (through rest) after sickness or
injury （10）inherent j. the act of giving hope or support to someone k. the number of liveborn children a woman has
delivered l. a state of balance 参考答案：（1）f（2）g（3）e（4）c（5）l（6）h（7）a（8）b（9）j（10）d
2.3 Fill in gaps with appropriate words from the box. There are three words you do not need to use.
bankrupt demand equilibrium disequilibrium boost deflationary money monetarism
(1) A stronger exchange rate would __________________ consumers' purchasing power, allowing them to buy more foreign goods.
(2) In conclusion, a sharp slack in goods, labor and commodity markets will lead to global __________________ trends over the next year.
(3) With the development of economy and further _________________ to food, people lay more and more emphasis on the development of food cold chain.
(4) Once, __________________ and Keynesianism were considered mutually exclusive economic theories. So severe is this crisis that governments all over the world are trying both simultaneously.
(5) Only in a case of fundamental ___________________ was a nation allowed, after the approval of the Fund, to change the par value of its currency.
参考答案(1) boost (2) deflationary (3) demand (4) monetarism (5) disequilibrium 2.4 True or False
（1）Monetarists insisted that money is neutral, so does Keynesians.
（2）The easiest way to achieve low inflation is to use all a country’s resources efficiently. （3）The goal of Keynesianism is to eliminate recessions.
（4）If the government borrows more money, this affects interests rates and business investment. （5）Keynesianism believe that if the government borrows and spends more money, economic
activity will increase.
（6）When inflation increases in industrialized countries, they will raise interest rates.
（7）Keynesians want to boost domestic demand, meaning spending by households rather than
businesses. （8）“Demand management”means attempting to reduce the level of demand during an
inflationary boom, and increase it during a recession. （9）Equilibrium means a state of balance.
（10）It is possible for government policy to reduce unemployment without affecting prices. 参考答案：（1）F（2）F（3）F（4）T（5）T（6）T（7）F（8）T（9）T（10）F
Part 3 Comprehensive Exercises
3.1 Filling in the blanks with the words in the box.
unconcerned in pie advanced poor pots central bigger soak fret Americans do not go _______________ for envy. The gap between rich and poor is _____________ ____ than in any other ________________ country, but most people are __________________ .Whereas Europeans ______________ about the way the economic ________ is divided, Americans want to join the rich, not ______________ them. Eight out of ten, more than anywhere else, believe that though you may start _____________ , if you work hard, you can make ____________ of money. It is a ______________ part
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