Ⅰ.Translate the following phrases into Chinese:(10%)
1.depression
2.trade surplus
3.deflation
4.barter trade
5.futures market
6.current account
7.budgt deficit
8.invisible trade
9.compensation trade
10.devaluation

Ⅱ.Translate the following phrases into English:(10%)
1.市场力量
2.货币政策
3.最惠国待遇
4.世界贸易组织
5.人具所得税
6.商品市场
7.服务贸易
8.初级产品
9.国际货币基金组织
10.人均国内生产总值

Ⅲ.Choose one answer that best explains the underlined part of the following statements or best completes them:(30%)
1.In California's Silicon Valley Lucky-Goldstar's white-frocked research scientists delve into the mysteries of state -of -the-art semiconductor technology.
  A.most lucrative         B.markedly advanced
  C.state-run              D.nationalized

2.Fiscal stimulus refers to ___.
  A.increase in the government expenditure and cut in taxation
  B.supply more money and bank credit with low interest rates
  C.encourage investment of industries
  D.decrease in the government expenditure and increase taxation

3.Deflationary impact can have the following results except ___.
  A.tightening the money supply       B.loosening the money supply
  C.restricting borrowing             D.resulting in hiked interest rates

4.…to  give me a product that's competitive in price and quality, and I'll take it hands down.
  A.I'll take it easily          B.I'll take it with my hands
  C.I'll no doubt take it        D.I'll take it away

5.Aggregate statistics for 1991 were influenced by the sharp decline in output in Central and Eastern Europe, as well as by the adverse effects of the Gulf crisis on several economies in the Middle East.
  A.accumulated        B.total
  C.given              D.calculated

6.As a result,the visible trade surplus rose sharply from US $ 1.4 billion in 1981 to US $ 4.4 billin in 1982 and US $ 3.7 billion in 1983.
  A.inport       B.export       C.excess      D.saving

7.Coca-cola and Pepsico don't wage mere market share battles. They fight holy wars.
   A.they fight for their country
   B.They fight for dominating the market and muscle the enemy out of the market
   C.They fight for their employers
   D.They fight for their families

8.LOw growth has been a consequence of the Mitterrand government's fiscal austerity.
  A.deflation         B.incentives
  C.appreciation      D.strict restrictions

9.A real economic growth rate of 4% in fiscal 1986 was viable for Japan.