[考研类试卷]考研英语(阅读)模拟试卷156及答案与解析.doc
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1、考研英语(阅读)模拟试卷 156 及答案与解析Part ADirections: Read the following four texts. Answer the questions below each text by choosing A, B, C or D. (40 points)0 A truly informed diner would choose a restaurant based on the quality of the menu and the chefs experience. The discerning investor would decide which c
2、ompany to back after studying the business plan and meeting the founders. In reality, people often copy the choices of others. 【R1】_Such bandwagon effects are not necessarily irrational.【R2】_ It can also be a way of coping with a surplus of choice: rather than study 100 models of music player, why n
3、ot assume the market has already figured out the worse?The existence of bandwagon behavior can be hard to prove. A product or an asset usually becomes popular(or unpopular)in the first place because it is genuinely superior(or inferior). But some have tried to isolate the self-fulfilling effects of
4、popularity. In a 2008 study by Matthew Salganik of Princeton University and Duncan Watts, now at Microsoft Research, participants tricked into believing a song was more popular than it actually was were more likely to download it.Scholars are now asking whether bandwagon behavior also prevails in la
5、bor markets. Although the number of long-term unemployed in America is coming down, is still near an all-time high. Such workers may simply be losing out to candidates with more qualifications or experience for the jobs that come open. A worse possibility is that long-term unemployment is at least p
6、artly self-fulfilling: employers may be reluctant to hire someone others have already passed over.【R3 】_The submissions were designed so that applicants with similar backgrounds, education and experience went for the same job. The only difference was how long the applicant had been jobless, a period
7、 that ranged from no time at all to as much as 36 months.【R4 】_These results strongly suggest that long-term unemployment is at least partly self-fulfilling. Like patrons who avoid restaurants purely because they are empty, employers were reluctant to hire someone other employers didnt want.Although
8、 such bandwagon behavior may be rational, it can also lead to poor outcomes.【R5 】_One near miss can increase the odds of protracted failure.AOften, the buyer knows less about a product than the seller; the collective wisdom of the crowd can correct for such “asymmetric information“.BThese results, t
9、he authors say, cannot be because employers found some qualitative flaw in the longer-term unemployed that was hidden from outsiders, since the applicants were similar in other respects.CDiners pick the crowded restaurant over the empty one. Investors go with the company that already has multiple ba
10、ckers.DTheir study suggests that taking some work is better than none for the recently unemployed.EImagine a newly unemployed worker who narrowly misses out on the first job he applies for. That initial failure reduces his odds of landing the second job he applies for, and so on, until he ends up as
11、 one of the long-term unemployed.FThey found that the odds of an applicant being called back by an employer declined steadily as the duration of unemployment rose, from 7.4% after one month without work down to 4-5% at the eight-month mark, where the call-back rate stabilized.GTo find out, Kory Krof
12、t of the University of Toronto, Fabian Lange of McGill University and Matthew Notowidigdo of the University of Chicago devised an experiment in which they applied for 3,000 clerical, administrative, sales and customer-service jobs advertised online by submitting 12,000 fictitious CVs.1 【R1 】2 【R2 】3
13、 【R3 】4 【R4 】5 【R5 】5 AOleg Baranov is a 27-year-old Russian earning his Ph. D. in economics at the University of Maryland. But for the last month hes been more actor than academic. His unenviable role: playing the part of an American bank with a balance sheet riddled with toxic mortgage-backed secu
14、rities.BSo what will work? A reverse auction shouldnt be ruled out, say Ausubel and Cramton. Unlike regular auctions,in which buyers outbid each other to win goods or services, the sellers in a reverse auction lower their prices in order to win new business. The benefits are twofold, say the Stanfor
15、d-trained professors.CAfter crunching the final results, Ausubel and Cramton feel their experiment did exactly what they hoped it would: prove that a reverse auction would result in the best use of taxpayer dollars spent through the bailout. They never paid more than a dollar for a dollars worth of
16、assets they bought from studentsan even deal at worst. But in many cases, they were able to buy about a $1.20 of assets for every dollar they spent. Applied to the real world, this means that taxpayers wont be overpaying for what Treasury buys; in fact, they may get a bargain.DThe $700 billion rescu
17、e plan initially focused on buying bad debt from banks that were left with nearly worthless securities after the housing market collapsed. Paulson said a worsening situation called for a change of strategy, and he started making cash infusions into financial companies, with the government taking an
18、equity share, in order to get the institutions lending again.EWhats the point of this little academic role playing game? The professors wanted to prove that a relatively obscure financial transaction known as a reverse auction might just be the best way to implement the $700 billion rescue plan Cong
19、ress passed Oct. 3. Instead, Treasury Secretary Henry Paulson is now favoring a plan to inject capital directly into struggling banks and companies. Whether or not that plan of attack will work or is a good use of taxpayer money is debatable.FAusubel and Cramton ran their final experiment on the nig
20、ht of Nov. 11. The next morning, though, they, along with the rest of the world, learned that Treasury had changed its mind when Secretary Henry Paulson announced he had scrapped the plan to buy assets from banks in favor of something a bit more fuzzy: offering aid not just to banks but to firms tha
21、t issue consumer debt by somehow jump-starting the market that provides financing for these companies.GTo prove their point, they made their auction experiment as real as possible by giving each student a portfolio of assets similar to the mortgage-backed securities that are weighing down the books
22、of hundreds of banks and financial institutions. And for an extra bit of reality, they had their students play with real money: $20,000 each. The students that established the best prices and ended up with the most money received cash awards. After four lengthy sessions, Baranov came away as the top
23、 earner with a little more than $1,500. Ausubel and Cramton have been touting that kind of win-win situation during regular conversations with Treasury officials, with whom theyve shared their results. They hope to convince officials that not only does a reverse auction work, but, in the event the T
24、reasury conducts one, to run it off their patented software platform.HWhile agreeing that the financial crisis has clearly seeped from the balance sheets of banks into the consumer lending market, Ausubel and Cramton were more than a little disappointed by the news. Rather than buy assets from banks
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