industry has provided less cost funding
staffing costs has risen too fast
global economy crisis has occurred
some countries have overtaken the UK in terms of investment in higher education
第1题:
A.even if
B.even
C.though
D.even then
E. as though
第2题:
PV Co is evaluating an investment proposal to manufacture Product W33, which has performed well in test marketing trials conducted recently by the company’s research and development division. The following information relating to this investment proposal has now been prepared.
Initial investment $2 million
Selling price (current price terms) $20 per unit
Expected selling price inflation 3% per year
Variable operating costs (current price terms) $8 per unit
Fixed operating costs (current price terms) $170,000 per year
Expected operating cost inflation 4% per year
The research and development division has prepared the following demand forecast as a result of its test marketing trials. The forecast reflects expected technological change and its effect on the anticipated life-cycle of Product W33.
It is expected that all units of Product W33 produced will be sold, in line with the company’s policy of keeping no inventory of finished goods. No terminal value or machinery scrap value is expected at the end of four years, when production of Product W33 is planned to end. For investment appraisal purposes, PV Co uses a nominal (money) discount rate of 10% per year and a target return on capital employed of 30% per year. Ignore taxation.
Required:
(a) Identify and explain the key stages in the capital investment decision-making process, and the role of
investment appraisal in this process. (7 marks)
(b) Calculate the following values for the investment proposal:
(i) net present value;
(ii) internal rate of return;
(iii) return on capital employed (accounting rate of return) based on average investment; and
(iv) discounted payback period. (13 marks)
(c) Discuss your findings in each section of (b) above and advise whether the investment proposal is financially acceptable. (5 marks)
第3题:
The most encouraging fact about the US economy is that_____ .
[A]employment rates have risen faster than expected
[B]the Federal Reserve will raise interest rates soon
[C]industrial production is reaching its lowest point
[D]some economic sectors have become leading industries
本题考查了多处事实细节。第三段第二句提到,惟一的好消息是申请失业保险金人数在9·11事件后达到的高峰期开始回落,现在的水平表明失业的速度(the pace of layoffs)有所缓和(easing)。该句表明失业者还在增加,只是增加的速度低于先前。因此,[A]项与文意相反。[B]项与第四段首句“经济复苏并不意味着美联储将很快提高利率”含义相反。第五段首句是段落主题句:最近的经济报道中最好的消息来自1月份工业生产的数据。末句对主题予以说明:数据表明工业生产部门的产量正在达到底线,复苏即将开始。[C]项是对该句的改写,是正确选项。文中虽然提到很多经济部门,但没有比较谁是主导产业,排除[D]项。
第4题:
第5题:
第6题:
第7题:
An ISP has assigned prefix 3000:1234:5678::/48 to Company1. Which of the following terms would typically be used to describe this type of public IPv6 prefix?()
第8题:
industry has provided less cost funding
staffing costs has risen too fast
global economy crisis has occurred
some countries have overtaken the UK in terms of investment in higher education
第9题:
The dollar rose to a new high against the curd.
The American economy has rebounded.
Japan’s economy has not bottomed out yet.
The performance of many economies in Latin America is less than expected.
第10题:
第11题:
Direct corection.
Indirect correction.
Self-corection.
Peer correction.
第12题:
Microsoft has been through a bruising battle with antitrust regulators.
Mr. Gates’s position as the industry’s figurehead has been challenged.
The computer industry is currently having a hard time.
Mr. Gates has earned 870 billion US dollars over the last two decades.
第13题:
A、come
B、get
C、take
D、go
第14题:
A. Subnet prefix
B. ISP prefix
C. Global routing prefix
D. Registry prefix
第15题:
第16题:
第17题:
第18题:
Since 1945,the UK economy has experienced()decline rather than()decline.
relative;absolute
略
第19题:
Direct correction.
Indirect correction.
Self-correction.
Peer correction.
第20题:
Direct correction.
Indirect correction.
Self-correction.
Peer correction.
第21题:
universities’ grants has risen less than 13%
universities are facing serious pension deficits
universities in the UK are predicting an average surplus of 1. 6% for the end of the financial year, so no need to worry for the moment
many universities have cut the number of research projects
第22题:
Tobacco is bad for people’s health but good for the national economy.
Tobacco has had a favourable economic impact in many countries in recent years.
Developed countries such as UK and the U.S. should transfer their technology in the tobacco industry to the developing countries.
Tobacco industry is bad for the economy for rich and poor countries alike.
第23题:
第24题:
Direct correction.
Indirect correction.
Self-correction.
Peer correction.