Exercises

Answer the following questions
  • What is new economy? What is its distinctive feature?
  • What is business cycle? What phases does a business cycle consist of?
  • What contributes to fast economic growth of a nation?
  • What is the wrong idea that some people hold about the new economy?
  • How can lower interest rates offset the loss of the consumers due to the tech-induced decline in their stock market wealth?
  • How does the tech-cycle affect the economic growth?
  • How do venture capitals help newly-established companies?
  • Why do start-ups find it difficult to obtain financing in their development?
  • What are the two keys to economic recovery?
Translate the following sentences into English.
  • 在制订经营决策的时候,我们需要考虑经济周期的因素。
  • 到乡村去走走,你就会感觉心情舒畅了。
  • 油价要再度上涨的谣言很快就传播开了。
  • 风险资本在帮助新兴公司的发展方面起了重要的作用。
  • 如果那项措施政策能够真正地得以贯彻实施,那对经济将会是很好的。
  • 他说,即使再获得提名,他也不想在仲裁委员会干了。
  • 那个保险推销员在上门推销时连话也没有说完人们就把门给关上了。
  • 那个足球队在去年的比赛中经常输球。
  • 整个城市在大地震中消失了。
  • 他是经营房地产的,所以,他暴富也就不足为怪了。
Translate the following paragraph into Chinese.

Around 1995, U.S. economic growth accelerated, driven by faster productivity growth. Since the early 1970s, labor productivity growth had only averaged around 1-1.5 percent per year, but since 1995, growth has been much faster: 2-2.5 percent. In addition, unemployment rates were lower than they had been in years and inflation stayed low as well. Already in 1995, Newsweek coined the phrase 'New Economy' to refer to this happy state. According to many commentators in the late 1990s, investment in Information technology (ICT) had eliminated economic fluctuations and ushered in a golden age of economic prosperity. As with many things that seem too good to last, the recession of 2001 discredited many of the more extreme predictions made during the boom years. However, subsequent research strongly suggests that productivity growth has been stimulated by heavy investment in ICT. Furthermore, continuing strong productivity growth since the 2001 recession make it likely that some of the gains of the late 1990s may endure.