大学外贸英语资料整理
词汇
1. opportunity cost 机会成本
2. Trade balance 贸易差额
3. PPF 生产可能性边界
4. Productivity 生产率
5. factor endowment 要素禀赋
6. Competitive advantage 比较优势
7. Economies of scale 规模经济
8. National income 国民收入
9. Infant industry 幼稚产业
10. VER 自愿出口限制
11. Dumping 倾销
12. Specific tariff 从量税
13. d valorem tariff 从价税
14. Punitive tariff 惩罚性关税
15. Local content requirement 本地成分要求
16. Import quota 进口份额
17. Administrative policies 行政政策
Chapter4
I. Answer the following questions：
1.What are the chief benefits from international trade？
1) Helping to raise the living standards of the people
2) Helping to upgrade a country’s modernization
3) Helping to solve a country’s shortage of capital
4) Helping to solve unemployment problems
5) Helping to promote mutual understanding and friendship between trading
6) Helping to boost a country’s competitiveness in the world market
7) Helping a country to accelerate its overall economic growth
2.Give examples to show that no country is able to produce everything it needs。 (自改版)The United State, a great deal of its high standard of living depends on international trade. Without international trade , it cannot become a kingdom of automobiles because most of its oil is imported from abroad, and it cannot have enough tin, tungsten and chromium for certain industrial process because the United State has no deposits of them. Remember no country is able to produce everything it needs.
3、What are the narrow sense of foreign exchange?（附加题）
（1）Internationalism ：denominated in foreign currency
（2）Convertibility:—free convertible of a kind of currency under current account and （3）Unconditional ：payment instrument can be used unconditionally abroad.
II. 翻译成英文
3. 在不同国家之间进行货物与服务的交换就是国际贸易。
The exchange of goods and services between different nations is international trade。
Chapter 5
I. Answer the following questions：
1. what is mercantilism？What are its main view points？（涵义里面已经包括了主要观点）
,(1).the way for a country to become rich and powerful was to export more than it imported .
(2) in the form of gold and silver .
(3) could gain only at the expense of other countries.
2.In what way is the modern version of mercantilism different from the original one?
答：modern version of mercantilism differs from the original in that today the accumulation of convertible currency instead of gold and silver is often the goal of governments.
3.What is meant by the theory of absolute advantage?
答： when country A can produce a unit of a good with less labor than country B we say that country A has an absolute advantage in producing that good.
4. Can you give a good illustration of comparative advantage?
答：（1）to specialize in the production of those goods it produces most efficiently
(2) the opportunity cost of producing that good in terms of other goods.
6.What are the similarities between the theory of absolute advantage and the theory of comparative advantage?
答：supply side of the market。
李嘉图Ricardo------比较优势
亚当斯密Adam Smith---------绝对优势
H —O------- heckscher – ohlin
II. 翻译成英文
1. 李嘉图认为每个国家不一定要生产各种商品，而应集中力量生产那些具有最大绝对优势或者最小绝对劣势的产品，然后通过国际贸易互相获益。
In Ricado's opinion not necessarily every country has to produce all sorts of goods. What a nation should do is to concentrate its efforts and resources on producing those goods and then receive benefits from international trade together with its trading partners.
2. 李嘉图的比较优势理论只提出国际分工的一个依据，但他并没有向人们展示国际分工形成
和发展的根本原因。
Ricardo's comparative advantage theory has only pointed out one basis for not the fundamental reason for the formation and development of it.
补充
The labor theory of value
On the account of labor required to produce it
All goods and that labor is homogeneous
Chapter6
I.Answer the following questions：
1.What is the H-O theory? What are its main arguments?
答：H-O theory is one of the most influential theories in modern international economics according to which international trade is largely driven by differences in countries ’ resources (land, labor and capital)
Main arguments: countries export the goods that use its abundant factors intensively and import the goods that use its scarce factors intensively.
2.What are the similarity and dissimilarity between the H-O theory of factor endowment and Ricardo's theory of comparative advantage?
答：Similarity ：free trade is beneficial to trading nationals。
Dissimilarity ：basis for trade
R----factor producing difference
H-O-----factor endowments
3.Give an example of the operation of the H-O theory?（至少举两个）
(1)The United States has long been a substantial exporter of agricultural goods, reflecting in part its usual abundance of large tracts of arable land.
(2)Brazil exports a lot of coffee because it has an abundance of the soil and favorable climate conditions required for coffee production.
(3)South Korea and China have excelled in the export of goods produced in labour-intensive manufacturing industries such as textile, clothing, and footwear .This fact reflects South Korea's and China's relative abundance of low-cost labor. In contrast, the United States, which lacks abundant low-cost labor, has been a primary importer of these goods.
4.What is Leontief paradox?
答：According to the H-O theory the United States would be an exporter of capital-intensive goods(It has a lot of capital ,). But, Wassily Leontief found that U.S. exports were less capital-intensive than U.S. imports.
5.What is the product life-cycle theory primarily concerned with? What are the 5 stages many manufactured goods undergo？
答：（1)the product life-cycle theory is primarily concerned with the role of technological innovation as key determinant of trade patterns in manufactured products 。
(2)5 stages: Introduction stage; Growth stage; Maturity stage; Decline stage; Losing to foreign competitors.
7..Can you say something about the “Gravity ”model of trade？
答：The trade between two countries increases with their economic size, but decreases with the distance between them(and therefore transport costs)
1.What is the defects of H-O theory?（附加题）三大缺陷
答：（1）It fails to explain U.S exports were less capital intensive than U.S. imports.
（2）It fails to turn enough attention to science and technology.
（3）It fails to touch on the maximization of profit-seeking as fundamental reason for trade.
II. 翻译成英文
1. 按照赫-俄理论，相对要素禀赋和要素价格的区别是构成国际贸易基础的重要的解释。
Different in relative factor endowments and factor prices constitute the most important explanation of the basis for （international ）trade 。
Chapter7
P92
I.Answer the following questions：
1.What are the political arguments for government intervention in international trade?
答：
(1)protecting jobs and industries
(2)National security
(3)Retaliation
(4)Protecting consumers
(5)Furthering foreign policy objectives
(6)Protecting "human rights"
2.What are the economic arguments given in the text for government intervention in international trade?
答：（1）protecting infant industry
(2 )strategic trade policies argument
3.What is strategic trade policy?
答：Strategic trade policies refer to those policies that promote exports or discourage imports in
particular economic sectors.
First, it can ensure that some firms to be supported by subsidies.
Second , such policies help domestic firms overcome the barriers to enter foreign market.
II. 翻译成英文
1.Why is the United States trying hard to protect its semi-conductor industry from foreign competition? The answer is simple. Because many American officials products that it would be dangerous to rely primarily on foreign producers for them. 答：为什么美国保护半导体产业免受国外竞争？答案很简单。许多美国官员认为，半导体产品对于其国防产品而言，是非常重要的零部件。如果主要依靠外国生产者供应，将会很危险。
2.However, retaliation is a highly risky strategy. If the threatened foreign government refuses to back down, say, by following a tit-for- tat-policy, it will lead to a trade war or other conflicts.In the end both the threatening government and the government and threatened government will suffer a loss.
答：然而，报复是一种风险极高的策略，如果被威胁的外国政府拒绝让步, 也就是说，其采取以牙还牙的政策，这将导致贸易战或其他冲突，最终采取威胁方式的政府和被威胁的政府都将遭受损失。
Chapter 8
P106
I.Answer the following questions
2.what are the commonly-used trade policy instruments at the disposal of governments?
答：Tariff ；关税
Subsidies ； 津贴
Import quotas； 进口配额
V oluntary export restraints（VERs ）；自愿出口限制
Local content requirements；
Anti-dumping policies；
Administrative policies
3.How many types of trade policies do you know?
答：Free Trade Policy；
Protective Trade Policy.
4.What are the usual arguments for protective trade policy?(可自行扩充，P100-101）
答：(1) job protection
(2) infant industry protection
(3) National security
6.Is export tariff allowed in the U.S? Why not？
答： Exported tariffs are prohibited by the U.S. Constitution but are often applied by developing nations on their traditional exports (such as Ghana on its cocoa and Brazil on its coffee)
7.Can you tell the difference between specific tariffs and ad valorem tariffs?
S: a specific tariff is expressed in terms of a fixed amount of money per physical unit of the imported product,
A: much like a sales tax, is a fixed percentage of the value of the imported good as it enters the country.
9.What is meant by"foreign sourcing?"
答：The purchase of foreign components by domestic firms。
10.Is there a uniform definition of dumping?
答：Dumping is variously defined as selling goods in a foreign market at below their goods in a foreign
Chapter 9
P127
I.Answer the following questions
2.What forms of regional economic integration do you know?
答：preferential trade arrangement；
A free trade area（or zone）；
customs union；
A common market；
Economic union；
political union
3.In what way is free trade area different from customs union？单选题
答：A free trade ares is an association of trading nations whose members agree to remove all restrictive barriers among themselves.Each member, however, maintains its own set of trade restrictions against outsiders(non-member)
There are no import or export duties between members but goods imported into the region bear the same import duties.Apart from allowing no tariffs or other barriers to trade among members (as in a free trade area), a custom union harmonizes trade policies (such as the setting of common tariff rates) toward the rest of the world.The customs union is one step further along the road of full economic and political integration.
Chapter 10
I.Answer the following questions
1.How many types of exchange-rate system do you know？
答：（1）the fixed exchange-rate system
（2）the floating exchange-rate system
2.Do financial experts have unanimous opinions on the floating exchange-rate system ？（重点)
答：Opinions on the adoption of floating exchange-rate system are sharply divided among financial experts. There are arguments for it and as well as arguments against it. The major arguments for floating rates are: (a) simplicity. being sensitive to supply and demand conditions in the foreign exchange market, floating rates respond quickly to changing market forces, clearing the marker of shortage or surplus of given currency;(b)continous adjustment;(c)independent of domestic policies; and (d)reduced need for international reserves. Arguments against floating rates stress the following issues:(a)disorderly exchange rate markets;(b)reckless financial policies on the part of governments; and (c)conduciveness to price inflation.
IV . 翻译成中文
1.The U.S has suffered a great deal in the past three years due to high unemployment. At present ,American politicians and businessmen have found a scapegoat for their troubles: China ,or to be more pricesely, yuan ,the currency of China.
由于高失业率美国在过去三年里已饱受了艰难痛苦。现在美国的政治家和商人已找到了一个替罪羊——中国，或更确切地讲是人民币元——中国的货币。
2.The key issue is the value of the renminbi. Beijing has adopted the approach of letting the renminbi be pegged to the dollar. Critics point out: by doing this way the renminbi is undervalued about 40%.
关键是人民币的价值。北京采取了让人民币钉住美元的方法。批评家们指出，用此方法人民币的价值低估了40%。
Chapter 11
I.Answer the following questions
4.What are the accounting principles for presenting the balance of payment account?
答：1.Debits and credits借记和贷记
:(1) a credit transaction is one that results in a receipt of a payment from foreigners.(贷方交易是引起本国外汇收入的项目。)
(2) a debit transaction is one that leads to a payment to foreigners.
(借方交易是引起本国外汇支出的项目)
2、Double-entry bookkeeping复式簿记
Each international transaction is recorded twice in the BOP account, once as a credit and once as a debit of an equal amount.
( 国际收支账户的每一交易都需记录两次，“有借必有贷、借贷必相等。”)
5.Overall Balance（总差额）（附加题）
概念：A country's BOP is a systematic record of theoretically all its international transactions.
()
公式：Overall Balance=current account balance+capital account balance+financial account balance+net errors and omissions
(公式：总差额=经常账户差额+资本账户差额+金融账户差额+净差错与遗漏)
Chapter 12
I.Answer the following questions
2.Can you tell the major difference between FDI and foreign indirect investment ？
答：The differences between foreign direct investment and foreign indirect investment are:(1)direct investment involves while indirect (2)direct investment are usually in manufacturing ,resource extraction or services while indirect investments are of international private capital flows.International indirect investments collapsed after the World War I and have only revived since 1960s.
1.What are the chief MNCs’motives for FDI?(了解）
答：（1）to earn high returns or in anticipation of more future profits
(2)To enjoy more favorable tax treatment
3.Reasons for MNCs to operate abroad?(附加题）
答：several reasons have been advanced by MNCs managers to diversity their business operation in foreign countries:
III. 英译中
Host countries sometimes also complain loudly against FDI by MNCs. They say some MNCs try to keep them technologically dependent and pay little heed to their environmental protection .some host countries even criticize MNCs for overexploitation of their natural resources.
东道国有时也会大声抱怨，一些跨国公司试图保持技术的独立性，也不注意环境保护。一些东道国甚至批评跨国公司过度开采其自然资源。
Chapter 17
I.Answer the following questions
1.What financial devices have evolved to cope with the problem of lack of trust existing in international trade?
答：（1）the letter of credit; (2)the draft; (3)the bill of lading
3.What is the method used to solve the lack of trust between an importer and an exporter in different countries?
答：The problem is solved by using a third party trusted by both----normally a reputable bank
5.What are the main steps involved in typical export-import transaction with the use of a letter of credit?
8.How do you define "draft"? How many types of drafts do you know?
答 define --- A draft , sometimes referred to as a bill of exchange, is the instrument normally used in international commerce to effect payment. A draft is simply an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time.
Type ----sight drafts and time drafts
10.what is meant by bill of lading? what are its major functions?
答：meant----The bill of lading is issued to the exporter by the common carrier
transporting the merchandise.
Major functions---.It is a receipt , a contract and a document of title
III. 英译中
1.A letter of credit, abbreviated as L/C, stands at the center of international commercial transactions. Issued by a bank at the request of an importer the letter of credit states that the bank will pay a specified sum of money to a beneficiary , normally the exporter ,on presentation of particular, specified documents.
答：信用证，简写为L/C，（处于国际商业交易的中心位置）在国际商业交易中发挥着重要作用。信用证是在进口商的请求下由银行签发的，表明在交付特定的单据后，银行将支付一定数量的货币给受益人，通常是出口商。
大学外贸英语资料整理
词汇
1. opportunity cost 机会成本
2. Trade balance 贸易差额
3. PPF 生产可能性边界
4. Productivity 生产率
5. factor endowment 要素禀赋
6. Competitive advantage 比较优势
7. Economies of scale 规模经济
8. National income 国民收入
9. Infant industry 幼稚产业
10. VER 自愿出口限制
11. Dumping 倾销
12. Specific tariff 从量税
13. d valorem tariff 从价税
14. Punitive tariff 惩罚性关税
15. Local content requirement 本地成分要求
16. Import quota 进口份额
17. Administrative policies 行政政策
Chapter4
I. Answer the following questions：
1.What are the chief benefits from international trade？
1) Helping to raise the living standards of the people
2) Helping to upgrade a country’s modernization
3) Helping to solve a country’s shortage of capital
4) Helping to solve unemployment problems
5) Helping to promote mutual understanding and friendship between trading
6) Helping to boost a country’s competitiveness in the world market
7) Helping a country to accelerate its overall economic growth
2.Give examples to show that no country is able to produce everything it needs。 (自改版)The United State, a great deal of its high standard of living depends on international trade. Without international trade , it cannot become a kingdom of automobiles because most of its oil is imported from abroad, and it cannot have enough tin, tungsten and chromium for certain industrial process because the United State has no deposits of them. Remember no country is able to produce everything it needs.
3、What are the narrow sense of foreign exchange?（附加题）
（1）Internationalism ：denominated in foreign currency
（2）Convertibility:—free convertible of a kind of currency under current account and （3）Unconditional ：payment instrument can be used unconditionally abroad.
II. 翻译成英文
3. 在不同国家之间进行货物与服务的交换就是国际贸易。
The exchange of goods and services between different nations is international trade。
Chapter 5
I. Answer the following questions：
1. what is mercantilism？What are its main view points？（涵义里面已经包括了主要观点）
,(1).the way for a country to become rich and powerful was to export more than it imported .
(2) in the form of gold and silver .
(3) could gain only at the expense of other countries.
2.In what way is the modern version of mercantilism different from the original one?
答：modern version of mercantilism differs from the original in that today the accumulation of convertible currency instead of gold and silver is often the goal of governments.
3.What is meant by the theory of absolute advantage?
答： when country A can produce a unit of a good with less labor than country B we say that country A has an absolute advantage in producing that good.
4. Can you give a good illustration of comparative advantage?
答：（1）to specialize in the production of those goods it produces most efficiently
(2) the opportunity cost of producing that good in terms of other goods.
6.What are the similarities between the theory of absolute advantage and the theory of comparative advantage?
答：supply side of the market。
李嘉图Ricardo------比较优势
亚当斯密Adam Smith---------绝对优势
H —O------- heckscher – ohlin
II. 翻译成英文
1. 李嘉图认为每个国家不一定要生产各种商品，而应集中力量生产那些具有最大绝对优势或者最小绝对劣势的产品，然后通过国际贸易互相获益。
In Ricado's opinion not necessarily every country has to produce all sorts of goods. What a nation should do is to concentrate its efforts and resources on producing those goods and then receive benefits from international trade together with its trading partners.
2. 李嘉图的比较优势理论只提出国际分工的一个依据，但他并没有向人们展示国际分工形成
和发展的根本原因。
Ricardo's comparative advantage theory has only pointed out one basis for not the fundamental reason for the formation and development of it.
补充
The labor theory of value
On the account of labor required to produce it
All goods and that labor is homogeneous
Chapter6
I.Answer the following questions：
1.What is the H-O theory? What are its main arguments?
答：H-O theory is one of the most influential theories in modern international economics according to which international trade is largely driven by differences in countries ’ resources (land, labor and capital)
Main arguments: countries export the goods that use its abundant factors intensively and import the goods that use its scarce factors intensively.
2.What are the similarity and dissimilarity between the H-O theory of factor endowment and Ricardo's theory of comparative advantage?
答：Similarity ：free trade is beneficial to trading nationals。
Dissimilarity ：basis for trade
R----factor producing difference
H-O-----factor endowments
3.Give an example of the operation of the H-O theory?（至少举两个）
(1)The United States has long been a substantial exporter of agricultural goods, reflecting in part its usual abundance of large tracts of arable land.
(2)Brazil exports a lot of coffee because it has an abundance of the soil and favorable climate conditions required for coffee production.
(3)South Korea and China have excelled in the export of goods produced in labour-intensive manufacturing industries such as textile, clothing, and footwear .This fact reflects South Korea's and China's relative abundance of low-cost labor. In contrast, the United States, which lacks abundant low-cost labor, has been a primary importer of these goods.
4.What is Leontief paradox?
答：According to the H-O theory the United States would be an exporter of capital-intensive goods(It has a lot of capital ,). But, Wassily Leontief found that U.S. exports were less capital-intensive than U.S. imports.
5.What is the product life-cycle theory primarily concerned with? What are the 5 stages many manufactured goods undergo？
答：（1)the product life-cycle theory is primarily concerned with the role of technological innovation as key determinant of trade patterns in manufactured products 。
(2)5 stages: Introduction stage; Growth stage; Maturity stage; Decline stage; Losing to foreign competitors.
7..Can you say something about the “Gravity ”model of trade？
答：The trade between two countries increases with their economic size, but decreases with the distance between them(and therefore transport costs)
1.What is the defects of H-O theory?（附加题）三大缺陷
答：（1）It fails to explain U.S exports were less capital intensive than U.S. imports.
（2）It fails to turn enough attention to science and technology.
（3）It fails to touch on the maximization of profit-seeking as fundamental reason for trade.
II. 翻译成英文
1. 按照赫-俄理论，相对要素禀赋和要素价格的区别是构成国际贸易基础的重要的解释。
Different in relative factor endowments and factor prices constitute the most important explanation of the basis for （international ）trade 。
Chapter7
P92
I.Answer the following questions：
1.What are the political arguments for government intervention in international trade?
答：
(1)protecting jobs and industries
(2)National security
(3)Retaliation
(4)Protecting consumers
(5)Furthering foreign policy objectives
(6)Protecting "human rights"
2.What are the economic arguments given in the text for government intervention in international trade?
答：（1）protecting infant industry
(2 )strategic trade policies argument
3.What is strategic trade policy?
答：Strategic trade policies refer to those policies that promote exports or discourage imports in
particular economic sectors.
First, it can ensure that some firms to be supported by subsidies.
Second , such policies help domestic firms overcome the barriers to enter foreign market.
II. 翻译成英文
1.Why is the United States trying hard to protect its semi-conductor industry from foreign competition? The answer is simple. Because many American officials products that it would be dangerous to rely primarily on foreign producers for them. 答：为什么美国保护半导体产业免受国外竞争？答案很简单。许多美国官员认为，半导体产品对于其国防产品而言，是非常重要的零部件。如果主要依靠外国生产者供应，将会很危险。
2.However, retaliation is a highly risky strategy. If the threatened foreign government refuses to back down, say, by following a tit-for- tat-policy, it will lead to a trade war or other conflicts.In the end both the threatening government and the government and threatened government will suffer a loss.
答：然而，报复是一种风险极高的策略，如果被威胁的外国政府拒绝让步, 也就是说，其采取以牙还牙的政策，这将导致贸易战或其他冲突，最终采取威胁方式的政府和被威胁的政府都将遭受损失。
Chapter 8
P106
I.Answer the following questions
2.what are the commonly-used trade policy instruments at the disposal of governments?
答：Tariff ；关税
Subsidies ； 津贴
Import quotas； 进口配额
V oluntary export restraints（VERs ）；自愿出口限制
Local content requirements；
Anti-dumping policies；
Administrative policies
3.How many types of trade policies do you know?
答：Free Trade Policy；
Protective Trade Policy.
4.What are the usual arguments for protective trade policy?(可自行扩充，P100-101）
答：(1) job protection
(2) infant industry protection
(3) National security
6.Is export tariff allowed in the U.S? Why not？
答： Exported tariffs are prohibited by the U.S. Constitution but are often applied by developing nations on their traditional exports (such as Ghana on its cocoa and Brazil on its coffee)
7.Can you tell the difference between specific tariffs and ad valorem tariffs?
S: a specific tariff is expressed in terms of a fixed amount of money per physical unit of the imported product,
A: much like a sales tax, is a fixed percentage of the value of the imported good as it enters the country.
9.What is meant by"foreign sourcing?"
答：The purchase of foreign components by domestic firms。
10.Is there a uniform definition of dumping?
答：Dumping is variously defined as selling goods in a foreign market at below their goods in a foreign
Chapter 9
P127
I.Answer the following questions
2.What forms of regional economic integration do you know?
答：preferential trade arrangement；
A free trade area（or zone）；
customs union；
A common market；
Economic union；
political union
3.In what way is free trade area different from customs union？单选题
答：A free trade ares is an association of trading nations whose members agree to remove all restrictive barriers among themselves.Each member, however, maintains its own set of trade restrictions against outsiders(non-member)
There are no import or export duties between members but goods imported into the region bear the same import duties.Apart from allowing no tariffs or other barriers to trade among members (as in a free trade area), a custom union harmonizes trade policies (such as the setting of common tariff rates) toward the rest of the world.The customs union is one step further along the road of full economic and political integration.
Chapter 10
I.Answer the following questions
1.How many types of exchange-rate system do you know？
答：（1）the fixed exchange-rate system
（2）the floating exchange-rate system
2.Do financial experts have unanimous opinions on the floating exchange-rate system ？（重点)
答：Opinions on the adoption of floating exchange-rate system are sharply divided among financial experts. There are arguments for it and as well as arguments against it. The major arguments for floating rates are: (a) simplicity. being sensitive to supply and demand conditions in the foreign exchange market, floating rates respond quickly to changing market forces, clearing the marker of shortage or surplus of given currency;(b)continous adjustment;(c)independent of domestic policies; and (d)reduced need for international reserves. Arguments against floating rates stress the following issues:(a)disorderly exchange rate markets;(b)reckless financial policies on the part of governments; and (c)conduciveness to price inflation.
IV . 翻译成中文
1.The U.S has suffered a great deal in the past three years due to high unemployment. At present ,American politicians and businessmen have found a scapegoat for their troubles: China ,or to be more pricesely, yuan ,the currency of China.
由于高失业率美国在过去三年里已饱受了艰难痛苦。现在美国的政治家和商人已找到了一个替罪羊——中国，或更确切地讲是人民币元——中国的货币。
2.The key issue is the value of the renminbi. Beijing has adopted the approach of letting the renminbi be pegged to the dollar. Critics point out: by doing this way the renminbi is undervalued about 40%.
关键是人民币的价值。北京采取了让人民币钉住美元的方法。批评家们指出，用此方法人民币的价值低估了40%。
Chapter 11
I.Answer the following questions
4.What are the accounting principles for presenting the balance of payment account?
答：1.Debits and credits借记和贷记
:(1) a credit transaction is one that results in a receipt of a payment from foreigners.(贷方交易是引起本国外汇收入的项目。)
(2) a debit transaction is one that leads to a payment to foreigners.
(借方交易是引起本国外汇支出的项目)
2、Double-entry bookkeeping复式簿记
Each international transaction is recorded twice in the BOP account, once as a credit and once as a debit of an equal amount.
( 国际收支账户的每一交易都需记录两次，“有借必有贷、借贷必相等。”)
5.Overall Balance（总差额）（附加题）
概念：A country's BOP is a systematic record of theoretically all its international transactions.
()
公式：Overall Balance=current account balance+capital account balance+financial account balance+net errors and omissions
(公式：总差额=经常账户差额+资本账户差额+金融账户差额+净差错与遗漏)
Chapter 12
I.Answer the following questions
2.Can you tell the major difference between FDI and foreign indirect investment ？
答：The differences between foreign direct investment and foreign indirect investment are:(1)direct investment involves while indirect (2)direct investment are usually in manufacturing ,resource extraction or services while indirect investments are of international private capital flows.International indirect investments collapsed after the World War I and have only revived since 1960s.
1.What are the chief MNCs’motives for FDI?(了解）
答：（1）to earn high returns or in anticipation of more future profits
(2)To enjoy more favorable tax treatment
3.Reasons for MNCs to operate abroad?(附加题）
答：several reasons have been advanced by MNCs managers to diversity their business operation in foreign countries:
III. 英译中
Host countries sometimes also complain loudly against FDI by MNCs. They say some MNCs try to keep them technologically dependent and pay little heed to their environmental protection .some host countries even criticize MNCs for overexploitation of their natural resources.
东道国有时也会大声抱怨，一些跨国公司试图保持技术的独立性，也不注意环境保护。一些东道国甚至批评跨国公司过度开采其自然资源。
Chapter 17
I.Answer the following questions
1.What financial devices have evolved to cope with the problem of lack of trust existing in international trade?
答：（1）the letter of credit; (2)the draft; (3)the bill of lading
3.What is the method used to solve the lack of trust between an importer and an exporter in different countries?
答：The problem is solved by using a third party trusted by both----normally a reputable bank
5.What are the main steps involved in typical export-import transaction with the use of a letter of credit?
8.How do you define "draft"? How many types of drafts do you know?
答 define --- A draft , sometimes referred to as a bill of exchange, is the instrument normally used in international commerce to effect payment. A draft is simply an order written by an exporter instructing an importer, or an importer's agent, to pay a specified amount of money at a specified time.
Type ----sight drafts and time drafts
10.what is meant by bill of lading? what are its major functions?
答：meant----The bill of lading is issued to the exporter by the common carrier
transporting the merchandise.
Major functions---.It is a receipt , a contract and a document of title
III. 英译中
1.A letter of credit, abbreviated as L/C, stands at the center of international commercial transactions. Issued by a bank at the request of an importer the letter of credit states that the bank will pay a specified sum of money to a beneficiary , normally the exporter ,on presentation of particular, specified documents.
答：信用证，简写为L/C，（处于国际商业交易的中心位置）在国际商业交易中发挥着重要作用。信用证是在进口商的请求下由银行签发的，表明在交付特定的单据后，银行将支付一定数量的货币给受益人，通常是出口商。