1、货币和银行+Money+and+Banking 及答案解析(总分：52.00，做题时间：90 分钟)一、PART ONE(总题数：1，分数：8.00)A. Each commercial bank, as it obtains reserves and expands its deposits, could grow at an inappropriate rate. One way of controlling the growth rate of deposits is to require banks to stand ready to redeem their deposits in
2、some valuable commodity. Another is to institute a central bank charged with keeping reserves.B. Central bank needs to guard against bank failures, particularly if there are many relatively small banks. This is not to say that central banks always did prevent widespread bank failures. But a central
3、bank should act as institution able and willing in a crisis to make loans to banks when other banks cannot, or will not to do so.C. In addition to its services for commercial banks, a central bank provides many other services. The government keeps an account at the central bank, writes its checks on
4、 this account, and, in some countries, sells its securities through central bank. Another group of services to the government arises directly out of the central banks close relation with commercial banks. Thus the central bank typically administrators certain controls over commercial bank.D. Althoug
5、h central banks are part of the government, they maintain a certain detachment from the rest of it. They usually have much more independence from the administration than do such government agencies as the Treasury.E. Banking in Great Britain is dominated by four major banks (National Westminster, Ba
6、r clays, Midland, and Lloyds), but twenty major non-British banks compete for the British pound deposits and loans of major and modest customers. Similarly, the three big German banks ( Deutsche, Dresdner, and Commerz) have encountered increased competition for loan and deposit business from fifty b
7、ranches of foreign banks in Frankfurt, Dseldorf, and Hamburg.（分数：8.00）(1).The commercial banking systems of the major industry countries have become internationalized.（分数：1.00）A.B.C.D.E.(2).By controlling the money supply, commercial banks can keep themselves grow at an appropriate rate.（分数：1.00）A.B
8、.C.D.E.(3).Relations between the Central Bank and the government are complex.（分数：1.00）A.B.C.D.E.(4).Central Bank acts as the governments bank.（分数：1.00）A.B.C.D.E.(5).One of the function of a central bank is to prevent massive bank failures.（分数：1.00）A.B.C.D.E.(6).One consequence of the internationaliz
9、ation of commercial banking is that there is now more extensive competition in the major national financial centers due to the presence of foreign banks.（分数：1.00）A.B.C.D.E.(7).One of the Central Banks roles is a lender of last resort.（分数：1.00）A.B.C.D.E.(8).The Central Bank is not owned and operated
10、completely by the government.（分数：1.00）A.B.C.D.E.二、PART TWO(总题数：1，分数：6.00)Taking the Pulse of the EconomyReading the financial news is somewhat complicated when the subject is overall economic activity. In fact, when measuring the performance of the aggregate economy there is no single number that do
11、es the job. Instead, a variety of statistics released by the government on a monthly or quarterly basis, and published in major newspapers, (9) . It is useful to divide these statistics into measures of aggregate output and unemployment on the one hand,. (10) .Aggregate output and employment. The mo
12、st comprehensive measures of economic activity is real GDP. Estimates are released in April for the first quarter (January-March), (11) . Al though real GNP is released as a dollar figure, the most important feature is its rate of growth. Thus, if real GNP grows at an annual rate of 4% during a quar
13、ter, that is considered a fast pace of economic activity; if it grows by only 1% that would be slow.The most important number released on a monthly basis is the unemployment rate. Increases in the unemployment rate of one-half of one percent during a one-or two-month period implies that (12) .The pr
14、ice level. The GNP deflator is the most comprehensive measure of the price level. (13) . It is released quarterly along with data on GNP. A rate of increase in the deflator of 3% or 4% on an annual basis has been considered acceptable in recent years.Two somewhat narrower measures of inflation are r
15、eleased monthly: the consumer price index and the producer price index. As suggested by their names, (14) while the latter measures price changes at the wholesale level. For obvious reasons, although the consumer price index is a less comprehensive measure of the price level than the GNP deflator, i
16、t receives the lions share of attention because it measures how inflation influences each of us directly in our role as consumers. Once again, a 3% or 4% increase on an annual basis is considered acceptable; 6% or 8% is not.A. Our knowledge of how best to construct such a model is far from completeB
17、. in July for the second quarter (April-June), and so onC. serve as important indicatorsD. in terms of the results that formal econometric models of the economy have producedE. the former measures the rate of change in prices of goods purchased by the typical consumer (as defined by the Department o
18、f Commerce)F. It is a weighted average of prices of all goods and services produced in the economyG. economic activity is slowing down sufficiently to take its toll on the work forceH. and the price level and inflation on the other（分数：6.00）填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_三、PART THREE(总题数：1
19、，分数：6.00)Bank of America struck a nerve this week when it announced it would charge many debit card users a $ 5 monthly fee when they shop. The companys stock price fell. Customers complained. One cable business anchor sliced up her debit card live on air. Why such a public back lash over a few extr
20、a bucks a month7 Perhaps the banks decision simply reminded us all over a gain that we are living increasingly in a fee-littered world, where companies continually seek out new ways to nibble away at our wallets by charging for the smallest of once-free services, leaving many customers feeling nicke
21、l-and-dimed. “The proliferation of a la carte fees has inundated the economy, “ said Ed Mierzwinski, consumer program director for the U. S. Public Interest Re search Group. Companies “are inventing new fees; they are making it harder to avoid fees; they are increasing the fees. Its much more compli
22、cated to be a consumer. “Bank of Americas new debit card fee, which also has been tested or implemented by other banks, joins a long and growing list of similar charges that consumers now encounter in the course of daily life. Among them: airline baggage fees, hotel Internet fees, “convenience charg
23、es“ for concert and sporting tickets, ATM fees, bank teller fees, paper statement fees, fees hidden in phone and cable bills, taxicab fuel surcharges and exorbitant shipping and handling costs. As many businesses find themselves squeezed by new regulations, rising fuel prices or the generally sluggi
24、sh economy, they have sought new ways to extract more money from customers, despite the public relations hit that often results, said John Ulzheimer, president of consumer education at SmartCredit. com. “Its absolutely a math equation: How many people am I going to lose?“ Ulzheimer said. “I dont kno
25、w that companies care so much about being loved; they care more that people continue to use them. Whats important is the bottom line. “ That doesnt mean the tactic cant backfire. Its little surprise that consumers feel slighted when something that used to be freebe it air line pretzels or hotel gyms
26、suddenly costs money. But the businesses behind those fees often argue that they simply are covering their costs. Bank of Americas debit card fee marks just one of the ways banks are modifying consumers accounts in the wake of the financial crisis, which resulted in a regulatory overhaul for the ban
27、king system and a fundamental shift in the industry business model. Even so, many customers have shown little sympathy for the banks woes in the wake of news about the new monthly debit card fee. “Its not fair, “ Elizabeth Romero of the District said Friday outside a Bank of America branch in Capito
28、l Heights. “I started looking into changing banks. /（分数：6.00）(1).What did Bank of America decide to do?A. To invent new fees.B. To make consumers more complicated.C. To encourage people to deposit more money.D. To charge debit card users some amount of fee.（分数：1.00）A.B.C.D.(2).Why was there a public
29、 backlash over Bank of Americas new decision?A. Because many companies stock price fell down.B. Because customers feel unimportant when receiving services nowC. Because customers have to pay for once-free service.D. Because customers cant avoid fees.（分数：1.00）A.B.C.D.(3).Which of the statement is not
30、 true?A. There are still many services that do not charge in our living word.B. Not only Bank of America but also other banks have already implemented new debit card fee.C. Customers need to pay airline baggage fees.D. Customers felt angry when Bank of America announced its new policy.（分数：1.00）A.B.C
31、.D.(4).How do customers feel when they are charged for something that used to be free?A. Pleased.B. Respected.C. Uneasy.D. Contemptuous.（分数：1.00）A.B.C.D.(5).What can be inferred about Bank of America?A. It is facing financial crisisB. It needs changing in its regulatory overhaul and industry busines
32、s model.C. It has modified customers accounts in the way of debit card fee marks.D. It will get more profit by charging debit card fee.（分数：1.00）A.B.C.D.(6).Why did Elizabeth Romero say: “Its not fair“ at the end of the passage?A. American banks shifted their financial burden to the working people.B.
33、 The fee American banks charge for debit card just covers the cost.C. American banks are in a critical period.D. Customers show their sympathy to banks plight.（分数：1.00）A.B.C.D.四、PART FOUR(总题数：1，分数：10.00)Is Gold A Good Investment?Gold is probably the favorite (21) . for hoarding by both governments a
34、nd individuals a round the world, and it has been for centuries. Should you buy some gold, perhaps in the (22) . of a few gold coins? Is gold a good investment?Because gold earns no interest or dividends, it immediately suffers in comparison with such (23) . as savings accounts, bonds, stocks, and r
35、ental property. In this respect it is similar to diamonds, stamps, rare coins, and art objects. Because it yields no current income, the (24) . of buying gold thus depends entirely on the prospect for future price appreciation.If gold can be expected to rise in price by more than 5 to 10 percent ann
36、ually, which is (25) . what one can earn in a savings account or over the long run in bonds or stocks, then it is worth considering seriously as an investment.The price of gold, just like the price of other commodities, is determined in the free market by supply and demand. And in this case, supply
37、and demand factors make the price of gold highly volatile. (26) . respect to supply, new production adds to the existing stockpile at the rate of only about 2% a year. This means that the overwhelming element on the supply side is not the amount of current ore production but uncertainty as to how mu
38、ch holders of the existing stock pile might decide to unload. (27) sales by large holders are always a threat to break the price.When consumer prices threaten to rise rapidly and/or international tensions increase, the private demand for gold (28) . But when inflation subsides and/or international t
39、ensions ease, demand often vanishes overnight. This sort of demand typically fluctuates erratically on short notice, and rather small changes in supply or demand can produce (29) . price swings.Thus gold is a highly (30) . investment. Large gains can occasionally be made, but on the basis of the his
40、torical record over the past hundred years large losses are just as likely.（分数：10.00）(1).A. asset B. property C. capital D. wealth（分数：1.00）A.B.C.D.(2).A. form B. way C. value D. means（分数：1.00）A.B.C.D.(3).A. alternates B. options C. alternatives D. alternations（分数：1.00）A.B.C.D.(4).A. usage B. benefit
41、 C. profitability D. wisdom（分数：1.00）A.B.C.D.(5).A. exactly B. roughly C. probably D. similarly（分数：1.00）A.B.C.D.(6).A. For B. By C. With D. In（分数：1.00）A.B.C.D.(7).A. As it were B. In summaryC. In other words D. Generally speaking（分数：1.00）A.B.C.D.(8).A. decreases B. shrinks C. extends D. expands（分数：1.
42、00）A.B.C.D.(9).A. serious B. wide C. terrible D. broad（分数：1.00）A.B.C.D.(10).A. speculative B. profitable C. lucrative D. risky（分数：1.00）A.B.C.D.五、PART FIVE(总题数：1，分数：10.00)Helping the Environment While Saving MoneyThe management of Neckermann, a $ 2.4 billion German mail-order firm, wanted to help pro
43、tect the environment, (31) . it formulated a policy directing its employees to work to this end. The (32) . department, responsible for handling imports from European countries and Asia, proposed sending more imports to Rotterdam, (33) . where they would be forwarded in barges via the Rhine waterway
44、 to the firms three warehouses in Frankfurt. Under the old arrangement, imports arriving in Hamburg were sent by rail or road to Frankfurt. The 120,000 tons of merchandise from European suppliers now comes by rail (34) . of truck as it formerly did. These changes have provided two (35) . :less envir
45、onmental damage and (36) . costs. Based on estimates by the prestigious Planco Institute, the company calculates that the new environmentally friendly system of waterways and rail has (37) . total costs to the environment (air, ground, water, and noise pollution) from $1.6 million under the old road
46、-intensive arrangement to $ 722,000. In addition, the firm is saving $ 241,000 annually by shipping containers over Rhine waterway from Rotterdam to Frankfurt instead of using (38) . from Ham burg to Frankfrut. It is now considering supplying its Manngeim warehouse by barge, and it may also use barg
47、es on the Rhine (39) . to handle the 500 containers that come each year from Eastem Europe. This has been made (40) . by the new Main-Danube canal that extends the Rhine waterway all the way to the Black Sea.Other firms, among them Ford and Unilever, had already changed to the more environmentally f
48、riendly fiver system. These companies predict that others will increase their use of water ways when, as expected, the European Union deregulates waterway rates.（分数：10.00）填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_填空项 1:_六、PART SIX(总题数：1，分数：12.00)Central Reserve（分数：12.00）(1).The US $ has been the most used central reserve asset in the world since then the end of（分数：1.00）填空项 1:_(2).World War . Somewhat analogous to a savings account, the dollars were available when（分数：1.00）填空项 1:_(3).needed to finance trade or investments or to intervene wi
