试题与答案

Wherever people have been, they have left

题型:单项选择题

题目:

Wherever people have been, they have left waste behind, which can cause all sorts of problems. Waste often stinks, attracts vermin and creates eyesores. More seriously, it can release harmful chemicals into the soil and water when dumped, or into the air when burned. And then there are some really nasty forms of industrial waste, such as spent nuclear fuel, for which no universally accepted disposal methods’ have thus far been developed.

Yet many also see waste as an opportunity. Getting rid of it all has become a huge global business. Rich countries spend some $120 billion a year disposing of their municipal waste alone and another $150 billion on industrial waste. The amount of waste that countries produce tends to grow in tandem with their economies, and especially with the rate of urbanization. So waste firms see a rich future in places such as China, India and Brazil, which at present spend only about $5 billion a year collecting and treating their municipal waste.

Waste also presents an opportunity in a grander sense: as a potential resource. Much of it is already burned to generate energy. Clever new technologies to turn it into fertiliser or chemicals or fuel are being developed all the time. Visionaries see a world without waste, with rubbish being routinely recycled.

Until last summer such views were spreading quickly. But since then plummeting prices for virgin paper, plastic and fuels, and hence also for the waste that substitutes for them, have put an end to such visions. Many of the recycling firms that had argued rubbish was on the way out now say that unless they are given financial help, they themselves will disappear.

Subsidies are a bad idea. Governments have a role to play in the business of waste management, but it is a regulatory and supervisory one. They should oblige people who create waste to clean up after themselves and ideally ensure that the price of any product reflects the cost of disposing of it safely. That would help to signal which items are hardest to get rid of, giving consumers an incentive to buy goods that create less waste in the first place.

That may sound simple enough, but governments seldom get the rules right. In poorer countries they often have no rules at all, or if they have them they fail to enforce them. In rich countries they are often inconsistent: too strict about some sorts of waste and worryingly lax about others. They are also prone to imposing arbitrary targets and taxes. California, for example, wants to recycle all its trash not because it necessarily makes environmental or economic sense but because the goal of “zero waste” sounds politically attractive.

Which of the following is true according to the last paragraph()

A. Rich countries might help poor countries to treat the waste

B. California’s “zero waste” program makes no environmental sense

C. More taxes are needed to collect and treat the waste efficiently

D. Governments’ policies on waste industry are largely incoherent

答案:

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参考答案:拉丁

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戊公司是一家以软件研发为主要业务的上市公司,其股票于2013年在我国深圳证券交易所创业板上市交易。戊公司有关资料如下:

资料一:X是戊公司下设的一个利润中心,2016年X利润中心的营业收入为600万元,变动成本为400万元,该利润中心负责人可控的固定成本为50万元。由该利润中心承担的但其负责人无法控制的固定成本为30万元。

资料二:Y是戊公司下设的一个投资中心,年初已占用的投资额为2000万元,预计每年可实现税前经营利润300万元,部门投资报酬率为15%,2017年年初有一个投资额为1000万元的投资机会,预计每年增加税前经营利润90万元,假设戊公司投资的必要报酬率为10%。

资料三:2016年戊公司实现的净利润为500万元.2016年12月31日戊公司股票每股市价为10元。戊公司2016年年末管理用资产负债表相关数据如表所示:戊公司资产负债表相关数据

单位:万元

资料四:戊公司2017年拟筹资1000万元以满足投资的需要,戊公司2016年年末的资本结构即为目标资本结构。

资料五:戊公司制定的2016年度利润分配方案如下:

(1)每10股发放现金股利1元;

(2)每10股发放股票股利1股。发放股利时戊公司的股价为10元/股。

计算戊公司市盈率和市净率。

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