【正文】 the international gold standard system characterized by fixed exchange rates Unit Six The Return of Depression Economics — Paul Krugman 12. 能夠幫助經(jīng)濟(jì)走出蕭條的靈活的財(cái)政、金融政策 13. 發(fā)展中國(guó)家和成熟經(jīng)濟(jì)體所面臨的不同困境 the different dilemmas that the developing countries and the mature economies are faced with 14. 以犧牲充分就業(yè)來(lái)實(shí)現(xiàn)高產(chǎn)出率 to sacrifice full employment to achieve high output rate 15. 會(huì)導(dǎo)致另一國(guó)貨幣貶值的對(duì)這種貨幣的需求增加 the increased demand for this currency that will lead to the devaluation of another currency flexible fiscal and financial policies that can help the economy out of depression Unit Six The Return of Depression Economics — Paul Krugman ? Ⅱ . Translate the following sentences into English: 1. 該國(guó)出現(xiàn)的這場(chǎng)經(jīng)濟(jì)混亂引起了中央銀行和財(cái)政部的互相指責(zé)，該事件反映了一國(guó)的貨幣政策和財(cái)政政策相互配合的重要性。 (take...to task) The economic turmoil in that country made the central bank and the treasury department take each other to task, which reflected the importance of the collaboration of a country’ s moary and fiscal policies. Unit Six The Return of Depression Economics — Paul Krugman 2. 如今，政府陷入了這樣的兩難境地： 要改善國(guó)際收支就要降低匯率，而匯率的降低又會(huì)導(dǎo)致國(guó)內(nèi)的通貨臌脹。(dilemma) The government has now slipped into such a dilemma that if it wants to improve its balance of payments, it will need to lower the exchange rate, but to lower the exchange rate will lead to inflation. Unit Six The Return of Depression Economics — Paul Krugman 3. 雖然貶值能擴(kuò)大出口，但它也能導(dǎo)致外債的增加，甚至導(dǎo)致政府信用的崩潰。所以，該國(guó)政府不敢貿(mào)然采取貨幣貶值政策。 (magnify) Although devaluation will magnify exports, it can also lead to the increasing foreigncurrencydenominated debt； it can even cause the collapse of people’s confidence in the government. Therefore, the government did not dare to adopt the devaluation policy without careful consideration. Unit Six The Return of Depression Economics — Paul Krugman 4. 外債的增加并非是經(jīng)濟(jì)發(fā)展的必不可少的成本，因?yàn)橥鈧脑黾与m然會(huì)在短期內(nèi)提高經(jīng)濟(jì)增長(zhǎng)速度，但從長(zhǎng)期來(lái)看，它會(huì)加重國(guó)內(nèi)企業(yè)負(fù)擔(dān)，導(dǎo)致國(guó)際收支不平衡。 (in the short/long run) The increase of foreigncurrencydenominated debt is not necessarily the indispensable cost of economic development. Because, although it may promote economic growth in the short run, it will increase the burden of domestic enterprises and lead to imbalanced balance of payments in the long run. Unit Six The Return of Depression Economics — Paul Krugman 5. 主要資本主義國(guó)家曾一直將金本位視作經(jīng)濟(jì)實(shí)力強(qiáng)大的象征，但在大蕭條時(shí)期，他們都被迫徹底放棄了金本位。(see...as。 for good) Major capitalist countries had been seeing gold standard as a symbol of strong economic power, but they were forced to give it up for good during the Great Depression. Unit Six The Return of Depression Economics — Paul Krugman ? Ⅲ . Put the following passage into English: 處于危機(jī)中的亞洲國(guó)家的經(jīng)濟(jì)證明，它們具有許多政策和制度上的缺陷。但是，如果美國(guó)或歐洲明年或后年也陷入危機(jī)，我們可以斷定，一些分析家回過(guò)頭來(lái)同樣會(huì)挑出一些有關(guān)西方價(jià)值觀和制度方面的毛病來(lái)。很難說(shuō) 90年代亞洲的政策比過(guò)去幾十年更糟糕，那么最近為何會(huì)出現(xiàn)如此糟糕的情況呢 ? 答案是，世界在目前的危機(jī)面前變得如此脆弱并非因?yàn)榻?jīng)濟(jì)政策沒(méi)有得到改進(jìn)，而是因?yàn)橐呀?jīng)得到了改進(jìn)。世界各國(guó)對(duì)大蕭條后政策中真正存在的缺陷所作出的反應(yīng)是退回去重新實(shí)行過(guò)去的一套制度，這種制度在大蕭條前自由市場(chǎng)的資本主義中具有許多優(yōu)點(diǎn)。然而，當(dāng)我們?cè)诨謴?fù)老式資本主義的這些優(yōu)點(diǎn)的同時(shí)，也恢復(fù)了它的一些缺陷，最引人注目的莫過(guò)于易于遭受動(dòng)蕩和經(jīng)濟(jì)持續(xù)蕭條這一點(diǎn)了。 Unit Six The Return of Depression Economics — Paul Krugman Troubled Asian Economies have turned out to have many policy and institutional weaknesses. But if America or Europe should get into trouble next year or the year after, we can be sure that in retrospect analysts will find equally damning things to say about Western values and institutions. And it is very hard to make the case that Asian policies were any worse in the 1990s than they had been in previous decades, so why did so much go so wrong so recently? Unit Six The Return of Depression Economics — Paul Krugman The answer is that the world became vulnerable to its current travails not because economic policies had not been reformed, but because they had. Around the world countries responded to the very real flaws in postDepression policy regimes by moving back toward a regime with many of the virtues of preDepression freemarket capitalism. However, in bringing back the virtues of oldfashioned capitalism, we also brought back some of its vices, most notably a vulnerability both to instability and sustained economic slumps. Unit Six The Return of Depression Economics — Paul Krugman Exercise 2 Exercise 3 :c Narrowest:a :b Narrowest:a :b Narrowest:c ? Ⅳ . Answer key for Writing research papers