Liner rate are usually high.

A.A. Tramp rate including( ).

B.B. fixed cost

C.C. variable cost

D.D. insurance cost

E.E. fuel cost

A.Usual

B.Latest

C.Embarrassed

D.excellent

A.orientation

B. campaign

C. modification

D. modesty

听力原文： The inter-bank market is important because through banks' lending and borrowing, a short-term interest rate can be determined. This interest rate indicates the marginal cost of acquiring short-term liquidity needed by banks in the money market. Thus, the lending is usually for short-term liquidity needs which is usually overnight. Some lending transactions may be arranged for a longer period of time, usually up to 3 months. The inter-bank money market is well established and active in Hong Kong, with an average daily turnover of HK $ 38 billion in late 1991. Lenders are mostly the locally incorporated banks and major borrowers are the foreign banks that do not have adequate deposit base in local currency.

28. What can be determined through inter-bank lending and borrowing？

29.How long is the usual period of short-term liquidity needed by banks？

30.Who are the major lenders in the inter-bank market？

(28)

A．A long-term interest rate.

B．A long-term loan.

C．A short-term interest rate.

D．A short-term loan.

A: Hello, Mr．Kubat．I am glad to meet you here at the fair.

B: Likewise．Take a seat, please．How about a cup of tea？

A: Sure．Thank you．It seems your business is prosperous．There are many customers here.

B: Yes, it's not too bad．Our sales are going up year after year．And we still have a large potential production capacity.

A: Well, what do you think of choosing a commission representative or agent abroad to promote your sales？

B: That's a good idea．So far, we have several agents abroad.

A: We are willing to be your agent in Thailand for hand-held tools．What do you think？

B: That sounds good.

A : Then , what's your usual commission rate for your agents？

B: Usually, we give a commission of 3% to our agents.

A: 3% is too low, I think．You see, we have a lot of work to do in sales promotion such as advertising on radio or TV, printing booklets, leaflets, catalogues and so on．It all costs money．3% is not enough.

B: Don't worry．We'll allow you a higher commission rate if your sales score a substantial increase.

A: You mean to say.--

B: Now, if you sell US ＄2 million worth of hand-held tools annually, we can only allow 3% commission．If the annual turnover exceeds US ＄5 million, you can get 5% commission．What do you think of that？

A: It sounds OK．Then how do you pay the commission？

B: We may deduct the commission from the invoice value directly or remit it to you after payment.

A: All right．If it's okay, we would like to sign an agency agreement with you immediately.

B : Think it over．We hope to keep a good business relationship with you.

A: Thank you for your help.

37,000 hours were used to complete the work and there was no idle time. The total labour cost for the quarter was $531,930.

At the beginning of the last quarter, the design of the gloves was changed slightly. The new design required workers to sew the company’s logo on to the back of every glove made and the estimated time to do this was 15 minutes for each pair. However, no-one told the accountant responsible for updating standard costs that the standard time per pair of gloves needed to be changed. Similarly, although all workers were given a 2% pay rise at the beginning of the last quarter, the accountant was not told about this either. Consequently, the standard was not updated to reflect these changes.

When overtime is required, workers are paid 25% more than their usual hourly rate.

Required:

(a) Calculate the total labour rate and total labour efficiency variances for the last quarter. (2 marks)

(b) Analyse the above total variances into component parts for planning and operational variances in as much detail as the information allows. (6 marks)

(c) Assess the performance of the production manager for the last quarter. (7 marks)

Except for the recession years of 1949, 1954, and 1958, the rate of economic growth exceeded the rate of productivity increase. However, in the late 1950s productivity and labor force were increasing more rapidly than usual, while the growth of output was slower than usual. This accounted for the change in employment rates.

But if part of the national purpose is to reduce and contain unemployment, arithmetic is not enough. We must know which of the basic factors we can control and which we wish to control. Unemployment would have risen more slowly or fallen more rapidly if productivity had in creased more slowly, or the labor force had increased more slowly, or the hours of work had fallen more steeply, or total output had grown more rapidly. These are not independent factors, however, and a change in any of them might have caused change in the other.

A society can choose to reduce the growth of productivity, and it can probably find ways to frustrate its own creativity. However, while a reduction in the growth of productivity at the expense of potential output might result in higher employment in the short run, the long-run effect on the national interest would be disastrous.

We must also give consideration to the fact that hidden beneath national averages is continuous movement into, out of, between, and within labor markets. For example, 15 years ago, the average number of persons in the labor force was 74 million, with about 70 million employed and 3.9 million unemployed. Yet 14 million experienced some term or unemployment in that year. Some were new entrants to the labor fore; others were laid off temporarily, the remainder were those who were permanently or indefinitely severed from their jobs. Thus, the average number unemployed during a year understates the actual volume of involunatary displacement that occurs.

High unemployment is not an inevitable result of the pace of technological change but the consequence of passive public policy. We can anticipate a moderate increase in the labor force accompained by a slow and irregular decline in hours or work. It follows that the output of the economy--and the aggregate demand to buy it--must grow by more than 4 percent a year just to prevent the unemployment rate from rising, and by even more if the unemployment rate is to fall further. Yet our

A．productivity rises at the same rate as growth of the labor force

B．productivity and labor force increase at a greater rate than output

C．output exceeds productivity

D．rate of economic growth is less than the number of man-hours required

Landfills

You have just finished your meal at a fast food restaurant and you throw your uneaten food, food wrappers, drink cups, utensils and napkins into the trash can. You don't think about the waste again. On trash pickup day in your neighborhood, you push your can out to the curb, and workers dump the contents into a big truck and haul it away. You don't have to think about that waste again, either. But maybe you have wondered, as you watch the trash truck pull away, just where that garbage ends up.

Americans generate trash at an astonishing rate of four pounds per day per person, which translates to 600,000 tons per day or 210 million tons per year! This is almost twice as much trash per person as most other major countries. What happens to this trash？ Some gets recycled or recovered and some is burned, but the majority is buried in landfills.

How Much Trash Is Generated？

Of the 210 million tons of trash, or solid waste, generated in the United States annually, about 56 million tons, or 27 percent, is either recycled (glass, paper products, plastic, metals) or composted (做成堆肥) (yard waste). The remaining trash, which is mostly unrecyclable, is discarded.

How Is Trash Disposed of？

The trash production in the United States has almost tripled since 1960. This trash is handled in various ways. About 27 percent of the trash is recycled or composted, 16 percent is burned and 57 percent is buried in landfills. The amount of trash buried in landfills has doubled since 1960. The United States ranks somewhere in the middle of the major countries (United kingdom, Canada, Germany, France and Japan) in landfill disposal. The United Kingdom ranks highest, burying about 90 percent of its solid waste in landfills.

What Is a Landfill？

There are two ways to bury trash:

Dump--an open hole in the ground where trash is buried and that is full of various animals (rats, mice, birds). (This is most people's idea of a landfill!)

Landfill--carefully designed structure built into or on top of the ground in which trash is isolated from the surrounding environment (groundwater, air, rain). This isolation is accomplished with a bottom liner and daily covering of soil.

Sanitary landfill--landfill that uses a clay liner to isolate the trash from the environment

Municipal solid waste (MSW) LANDFILL--landfill that uses a synthetic (plastic) liner to isolate the trash from the environment .

The purpose of a landfill is to bury the trash in such a way that it will be isolated from groundwater, will be kept dry and will not be in contact with air. Under these conditions, trash will not decompose (腐烂) much. A landfill is not like a compost pile, where the purpose is to bury trash in such a way that it will decompose quickly.

Proposing the Landfill

For a landfill to be built, the operators have to make sure that they follow certain steps. In most parts of the world, there are regulations that govern where a landfill can be placed and how it can operate. The whole process begins with someone proposing the landfill.

In the United States, taking care of trash and building landfills are local government responsibilities. Before a city or other authority can build a landfill, an environmental impact study must be done one the proposed site to determine:

the area of land necessary for the landfill

the composition of the underlying soil and bedrock

the flow of surface water over the site

the impact of the proposed landfill on the local environment and wildlife

the historical value of the proposed site

Building the Landfill

Once the environmental impact study is complete, the permits are granted and the funds have bee

A．Y

B．N

C．NG