The Dollar in World MarketsAccording to a leading German banker, the U.S.dollar is "the most frequently discussed economic phenomenon of our times". He adds, "... the dollar’s exchange rate is at present the most important price in the world economy... " Because the dollar acts as a world currency,its value affects many nations,The central banks of many countries hold huge reserves of dollars, and over half of all world trade is priced in terms of dollars. Any shift in the dollar’s exchange rate will benefit some and hurt others. Some people suggest, therefore, (8) The dollar’s exchange rate has been volatile and unpredictable. Several years ago, the dollar was rapidly declining in value. This made it (9) The rise in the price of foreign goods made it possible for U.S.businesses to raise the price of competing goods produced here, thus worsening inflation. Foreigners who dealt in dollars or who held dollars as reserves were hurt. People in the United States who had borrowed foreign currencies found that they had to pay back more than they borrowed (10) The United States lost face in the eyes of the rest of the world.The dollar went soaring upward, and the situation was reversed. The United States exporters found it hard to sell abroad because foreigners would have to pay more for U.S.dollars. People in the United States now bought the relatively cheaper foreign goods, and U.S.manufacturers complained that they could not compete. Job losses were often blamed on the "overvalued" dollar. Poor nations (11) found it difficult to repay both the loans and the interest because they had to use more and more of their own currencies to obtain dollars. The solution to this problem is to end the system of floating exchange rates and return to fixed rates. We might even return to the gold standard.Fixed exchange rates didn’t work in the past. currency values should be determined by market conditions. A drop in the exchange value of a nation’s currency means that (12) that it is too inefficient to compete in the world markets, that it is permitting a high rate of inflation which makes its goods too expensive, that it is going too deeply in debt, or that others have lost confidence in the nation’s stability. A nation should bring its exchange rate back up by addressing these problems, not by interfering with the money market. 9()
A. that had borrowed dollars
B. that the dollar’s value should be more tightly controlled
C. because the declining dollar would buy fewer units of the foreign money
D. its value affects many nations
E. difficult for Americans to purchase foreign goods and services
F. that have a lot of U.S. dollars
G. all nations want to import less and export more
H. it is importing too much
34.company has been approached to buy U. K. media assets, Reuters reports.35.Robert lger, Disney’s president, who made the announcement to a36.London audience at the Royal Television Society’s conference.37.Pixar/Disney feature films include Finding Nemo , Toy Story, and Monsters Inc.38.Media giant Walt Disney Co. operates Walt Disney Parks & Resorts: then39.owns ABC television network, with 10 broadcast stations and more40.than 60 radio stations: and produces films through by Walt Disney Studios.41.lger also said the company at one time it had been approached to buy42.ITV, a U.K.television channel as along with some assets of the BBO, the report stated.43.Steve Jobs, the head of Pixar Animation Studios Inc., who said in June44.he would consider of a new distribution deal with Disney. At the time, no talks were under way.45.Disney and Pixar, who have released five films together, called off for previous talks in January to renew their distribution deal.The companies’ last film together, The Cars, is slated for release in 2005. 43()
Common Stock and preferred StockA public corporation issues certificates of ownership, called common stock, which may be traded on stock exchanges.Anyone can buy and sell shares of common stock.Owners of stock are referred to as shareholders and stockholders. common stockholders are accorded certain rights by the corporate charter.In the United States, these rights vary from state to state, but in general the articles of incorporation spell out voting rights and rights to receive profits.Common stockholders are the voting owners of a corporation.They are usually entitled to one vote per share.They may vote on numerous issues affecting the corporation (including a decision to sell or merge with another corporation) and elect a board of directors, who, in turn, hire managers to run the business.A majority shareholder is one who owns over 50 percent of the outstanding shares in a corporation and, thus, can call the shots.All other shareholders are minority shareholders.In large corporations no single person or organization owns anywhere near a majority interest.In large, publicly owned corporations a shareholder with as little as 10 percent of the shares may control the corporation effectively.If things go bad, a coalition of so called dissident shareholders may gather enough votes to replace the existing board of directors; the new board may fire the existing management and bring in their own management team.Although common stock represents ownership in a company, it does not guarantee the owners a specified rate of return.As owners, the stockholders receive profits after all expenses, including debts and taxes, have been paid. They receive profits from the business in the form of dividend payments, which represent a percentage of profits.Not all after-tax profits are paid to the stockholders in dividends.Directors usually decide quarterly how much, if any, if the profits they wish to distributed to the owners. The profits are either distributed to the owners in dividends or they are reinvested bank into the company in the form of retained earnings.If the company decides to keep the profits, the company may become more valuable and the price of the stock usually goes up.Some investors prefer profits in the way of dividends while others speculate for an increase in the price of stock.If a company goes broke, common stockholders get last claim on whatever is left over.Corporations may also issue preferred stock to investors.Preferred stock usually has no vote in the election of the board of directors, but does get preference in the distribution of the company’s earnings.It offers investors a different type pf security and may be issued only after common stock had been issued.The term "preferred" applies to two conditions.First, preferred stockholders gain preferential treatment in the matter of dividends; that is, they receive a fixed rate of dividends prior to the payment of dividends on common shares.Second, if the company goes out of business or liquidates, preferred stockholders are closer to the front of the line than common stockholders when distributing the company’s assets.Dividends to preferred stock may be cumulative or noncumulative.cumulative preferred stock maintained its claim to dividends even if the company had a bad year in 1994, they might decide not to pay dividends.But if they had a good year in 1995, and declared stock dividends do not accumulate.If dividends are not declared, noncumulative owners lose their claim to the profit of that period.In short, common stock usually has more control through voting privileges, greater chance for high returns and more risk, whereas preferred stock usually has less control,fixed returns, less risks, and less chance for big gains. For those who want to get high returns, it is better for them to buy()
A. preferred stock.
B. common stock.
C. noncumulative stock.
D. cumulative stock.
下列不属于处方前记的内容是( )
A. 医疗机构名称
B. 处方编号
C. 患者姓名、性别、年龄
D. 开具日期
E. 药品金额