Ⅲ. Match the words and expressions on the left with the explanations on the right（10%）

21. assets                     a. unable to pay debts

22. tariff                                     b. duties imposed on goods imported and exported

23. business line                          c. the person who issues a draft, usually the exporter

24. drawer                                  d. deficiency

25. insolvent                                e. a formal or explicit statement of conditions demanded

26. commercial intercourse           f. total resources of a business, as cash, accounts receivable, real estates, etc.

27. compulsory                           g. goods dealt by a company

28. stringent                                h. strict, that must be obeyed

29. shortfall                                 i. that must be done

30. provisions                              j. business dealings between individuals or firms

Ⅳ. Make brief explanations of the following terms or give the full name of the abbreviation in English （10%）

31. Customs Union

32. ad valorem duties

33. establishing bank

34. liability

35. VER

Ⅴ. Answer the following questions in English（20%）

36. What is a counter-offer? What happens to the offer once a counter-offer is made?

37. What is franchising?

38. Can you summarize the categories briefly under current counter trade?

39. What are the advantages of the flexible exchange rate system?

Ⅵ. Translate the following into Chinese （15%）

40. In assessing the potential of a country as a market, people often look at per capita income. Similar to the case of national income and national product, per capita income and per capita GDP do not have much difference. So let's use per capita GDP to illustrate an economy's income level. It is calculated by dividing its total GDP by its population. Total GDP indicates the overall size of an economy, which is important in market assessment for durable equipment or bulk goods. Per capita GDP reveals the average income level of consumers, which is important when marketing consumer durables.

41. Quotas or quantitative restrictions are the most common forms of non�瞭ariff barriers. A quota limits the imports or exports of a commodity during a given period of time. The limits may be in quantity or value terms, and quotas may be on a country basis or global, without reference to countries. They may be imposed unilaterally and can also be negotiated on a so�瞔alled voluntary basis.

Ⅶ. Translate the following into English（25%）

42. 最著名的自由貿(mào)易區(qū)是北美自由貿(mào)易區(qū)，它是由美國、加拿大和墨西哥于1991年建立的。

43. 許多人歡呼經(jīng)濟全球化帶來的好處，但同時也有強烈的反對聲音。

44. 在即期信用證情況下，提示匯票和正確無誤的單據(jù)后便立即付款。

45. 選擇權(quán)是指在特定的時間內(nèi)按規(guī)定的價格購買或出售一種證券的權(quán)利。

46. 貨物保險是一種目的在于把風(fēng)險從進口商和出口商的肩上轉(zhuǎn)移到專門承擔(dān)風(fēng)險的保險人一方的活動。