收益

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The interest on Treasuries is exempt from state and local income tax.

这些政府债券的收益是免州和地方收入税的。

The exit mechanism is a key point of making profits for venture capital.

摘 要：风险投资的退出是风险投资实现收益的关键环节。

At last, we continue to analyze the influence which the macroeconomic growth rate has on the volatility of the stock returns. We make the macroeconomic growth rate as an exogenous variable to add to the above iterated weighted volatility model. From the above analysis, we can draw a conclusion that the volatility of the stock returns of Chinese stock markets will strengthen in economic expansion period and weaken in economic recession period.

在此分析前提下，继续深入分析宏观经济增长率对股票市场收益率波动的影响，将宏观经济增长率作为外生杠杆变量加入到上面的迭代加权最小二乘法的条件波动率模型中，结论是我国股票市场收益在经济扩张期波动性减弱，而在衰退期波动性增强。

Second, and constantly improve the capital market structure, and actively and steadily promoting the construction of multi-level capital market, improve the structure of listed companies, optimize the incremental adjustment of the stock, and further enhance the returns of investors of listed companies, improve the structure of investors, has continued to grow multi - team of investors actively promoting various types of funds into the market, and promote the coordinated development of various types of investors, such as fixed-income products, the company gradually expand the size of them in the market to satisfy market demand for a wide range of financing to promote stable operation of the futures market, further play to the functions of futures markets.

二，不断完善资本市场结构，积极稳妥地推进建设多层次资本市场，提高上市公司的结构，优化增量的股票调整，进一步提高上市公司的投资者的回报，改善投资者结构，继续拓展多-投资者团队积极推动进入市场的各种资金，促进各类投资者，例如固定收益产品，协调发展，公司逐步扩大规模他们在市场上满足了广泛的融资市场的需求，促进期货市场的稳定运作，进一步发挥期货市场的功能。

System, the expected gain / loss is an investor-friendly.

6系统的预期收益/损失是对投资者有利的。

Figure 7: The optimal expected value increases with payoff and luck.

图7 ：最佳预期值的增加而收益和运气。

The number 100 in cells A10 and E6 is the expected payoff at those stages in the process.

A10和E6单元格的数字100表示分析到当前阶段的期望收益

EP = Expected payoff if the decision could be made after learning the true state of nature.

EP=如果知道真实的自然状态进行决策得到的期望收益

Furthermore, the expected equilibrium payoff of each firm increases with precise of his private information.

结果表明：在给定的信息结构下，隐瞒成本信息是唯一的子博弈完美纯策略纳什均衡；而且企业的均衡期望收益是其私有信息预测质量的增函数。

And Pharaoh spoke to Joseph, saying, Your father and your brothers have come to you.

47：5 法老对约瑟说，你父亲和你弟兄们到你这里来了。

Additionally, the approximate flattening of surface strip using lines linking midpoints on perpendicular lines between geodesic curves and the unconditional extreme value method are discussed.

提出了用测地线方程、曲面上两点间短程线来计算膜结构曲面测地线的方法，同时，采用测地线间垂线的中点连线和用无约束极值法进行空间条状曲面近似展开的分析。