题目内容
（请给出正确答案）
What is estimated in the poor countries？
A．Many people have not enough money
B．Many people have no place to live in
C．Many people have not enough money to see doctors
D．All of the above
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听力原文： The estimated one-fifth of children in London's schools who cannot read simple sentences by the age of eight should be given special help. This is the main conclusion of an independent report on London's 700 primary schools. The report, which is the result of a year's work, tells London's primary schools that they must demand more of their children.
Most parents were happy with the schools, but some said that their children's pace of learning might be too slow. The report confirmed this by stating that much of the new work must have been taught at the same level of difficulty as the old.
The report emphasized that children should not be tortured but more should have been expected of them in schools. This would mean that some children might have achieved much more than the limited demands made on them by comprehension exercises or copying out from textbooks.
Mrs. Morrel, who commissioned the report, said that all London's schools must put into effect a framework of reform. Every child ought to be able to read by the age of eight.
Other reforms mentioned in the report were that parents should be better represented on school governing committees and that each school ought to draw up a development plan, listing what improvements it can make. Parents should also be represented on the education committee.
(30)
A．They should not be too strict with the children.
B．They should limit their demands on some children.
C．They should demand more of their children.
D．They should demand more of the bright children.
The poorer countries are often referred to as the Third World. They have special problems. Often their land is too poor to grow anything on. The land can be improved. But a lot of things have to be done first new farming methods have to be introduced, people have to be educated, and reliable sources of water and energy have to be found.
Many of these, problems are too complex for one country to solve alone. Outside help is needed, but is has to be the right kind of help. Money is not enough. Newly developed countries need to be helped to be able to help themselves.
According to the article, what is the tragedy？
A．There are more wealthy countries in the world
B．There are more poor countries in the world
C．There are more wealthy people in the wealthy countries
D．There are more poor people in the poor countries
Initial calculations suggest that the proposed investment in Naswa would have a negative net present value of $1·01 million. However, Furlion Co’s chief executive believes that there may be opportunities for greater cash flows in future if the Naswan government expands its land reclamation programme. The government at present is struggling to fund expansion of the programme out of its own resources and is looking for other funding. If the Naswan government obtains this funding, the chief executive has forecast that the increased demand for Furlion Co’s products would justify $15 million additional expenditure at the site of the factory in three years’ time. The expected net present value for this expansion is currently estimated to be $0.
It can be assumed that all costs and revenues include inflation. The relevant cost of capital is 12% and the risk free rate is 4%. The chief executive has estimated the likely volatility of cash flows at a standard deviation of 30%.
One of Furlion Co’s non-executive directors has read about possible changes in interest rates and wonders how these might affect the investment appraisal.
Required:
(a) Assess, showing all relevant calculations, whether Furlion Co should proceed with the significant opportunity. Discuss the assumptions made and other factors which will affect the decision of whether to establish a plant in Naswa. The Black Scholes pricing model may be used, where appropriate. (16 marks)
(b) Explain what is meant by an option’s rho and discuss the impact of changes in interest rates on the appraisal of the investment. (5 marks)
(c) Discuss the possibility of the Naswan government obtaining funding for further land reclamation from the World Bank, referring specifically to the International Development Association. (4 marks)
It is estimated that the prices will ______ in the near future.
A．rise
B．raise
C．arise
D．arouse
A.estimated
B. count
C. calculate
D. estimate
Over a third of the population was estimated to have no ______ to the health service.
A．assistant
B．assignment
C．exception
D．access
