Key to  the Exercises 

教学视频：习题讲解

教学课件：课后习题解析

II Define briefly the following terms and concepts.

1. Credit in economics refers to a behavior of borrowing and lending with the feature of repayment of the principal plus interests and is a special form of movement of value.

2. Commercial credit is the credit that is provided mutually between enterprises and is linked directly to exchange of goods.

3. In broad sense, bank credit is the credit that is granted by banks and other financial institutions. In narrow sense bank credit only refers to the credit provided by banks.

4. Public credit, also called fiscal credit is the credit that is extended to the public sector, which includes government units at all levels ranging from local and national to international.

5. Consumer credit Consumer credit or consumption credit is the credit that businesses, banks and other financial institutions grant to consumers for meeting consumers’ demand for consumer goods.

6. Private credit is the credit granted mutually between individuals in the form of money or goods. Such kind of credit is mostly connected with underdeveloped or developing areas and countries, even in the remote areas in the developed countries.

III Translate the following sentences into Chinese.

1. 信用在经济学意义上指的是以偿还本金和利息为特点的借贷行为，它是价值运动的一种特殊形式。

2. 此外，信用也为提供和创造交换媒介与支付手段发挥了作用。

3. 银行不仅可以根据资金来源进行资金运用，而且可以通过资金运用创造资金来源，即通过贷款创造货币。

4. 基于贷款偿还安排，消费贷款可以分为到期一次性偿还贷款与分期偿还贷款。

5. 民间信用具有借贷时自发、分散及盲目的特点，因此政府金融部门很难去标准化并监管民间信用。

IV Translate the following sentences into English.

1. Bank credit is an intermediate credit, as banks and other financial institutions are intermediaries between the owners and users of monetary capital in credit activities

2. Bank credit overcomes the limitations of commercial credit regarding the size, direction, and time of the credit.

3. As enterprises that take in deposits and grant loans, bank can not only provide credit, but also create credit and then grant credit. 

4. Consumer credit can raise consumers’ current living standards both materially and culturally.

5. Private credit is the credit granted mutually between individuals in the form of money or goods.