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來(lái)源:凱程考研集訓(xùn)營(yíng),資料獲取、課程輔導(dǎo)咨詢凱程老師考研英語(yǔ)時(shí)文閱讀:BurnishedUp goes gold, down goes the dollarMost economists hate gold. Not, you understand, that they would turn up their noses at a bar or two. But they find the reverence in which many hold the metal almost irrational. That it was used as money for millennia is irrelevant: it isnt any more. Modern money takes the form of paper or, more often, electronic data. To economists, gold is now just another commodity.So why is its price soaring? Over the past week, this has topped $450 a troy ounce, up by 9% since the beginning of the year and 77% since April 2001. Ah, comes the reply, gold transactions are denominated in dollars, and the rise in the price simply reflects the dollars fall in terms of other currencies, especially the euro, against which it hit a new low this week. Expressed in euros, the gold price has moved much less. However, there is no iron link, as it were, between the value of the dollar and the value of gold. A rising price of gold, like that of anything else, can reflect an increase in demand as well as a depreciation of its unit of account.This is where gold bulls come in. The fall in the dollar is important, but mainly because as a store of value the dollar stinks. With a few longish rallies, the greenback has been on a downward trend since it came off the gold standard in 1971. Now it is suffering one of its sharper declines. At the margin, extra demand has come from those who think dollars-indeed any money backed by nothing more than promises to keep inflation low-a decidedly risky investment, mainly because America, with the worlds reserve currency, has been able to create and borrow so many of them. The least painful way of repaying those dollars is to make them worth less.The striking exception to this extra demand comes from central banks, which would like to sell some of the gold they already have. As a legacy of the days when their currencies were backed by the metal, central banks still hold one-fifth of the worlds gold. Last month the Bank of France said it would sell 500 tonnes in coming years. But big sales by central banks can cause the price to plunge-as when the Bank of England sold 395 tonnes between 1999 and 2002. The result was an agreement between central banks to co-ordinate and limit future sales.If the price of gold marches higher, this agreement will presumably be ripped up, although a dollar crisis might make central banks think twice about switching into paper money. Will the overhang of central-bank gold drag the price down again? Not necessarily. As James Grant, gold bug and publisher of Grants Interest Rate Observer, a newsletter, points out, in recent years the huge glut of government debt has not stopped a sharp rise in its price.注(1):本文選自Economist;12/4/2004, p76-76, 1/3p;注(2):本文習(xí)題命題模仿2000年真題text 4第3題(1),2001年真題text 4第2題(2),text 1第2題(3),2002年真題text 2第2題(4)和text 5第3題(5);1.In economists eyes, gold is something_.A they look down uponthat can be exchanged in the marketC worth peoples reverenceD that should be replaced by other forms of money2.According to the author, one of the reasons for the rising of gold price is_.A the increasing demand for goldthe depreciation of the euroC the link between the dollar and goldD the increment of the value of the dollar3.We can infer from the third paragraph that_.A the decline of the dollar is inevitableAmerica benefits from the depreciation of the dollarC the depreciation of the dollar is good news to other currenciesD investment in the dollar yields more returns than that in gold4. The phrase “ripped up” (Line 1, Paragraph 5) most probably means_.A strengthenedbroadenedC renegotiatedD torn up5.According to the passage, the rise of gold price_.A will not last longwill attract some central banks to sell goldC will impel central banks to switch into paper moneyD will lead to a dollar crisis答案:B A B D B篇章剖析本篇文章采用了提出問(wèn)題-分析問(wèn)題的模式,分析了金價(jià)上漲,美元下跌的經(jīng)濟(jì)態(tài)勢(shì)。第一段說(shuō)明黃金是一種商品;第二段分析了金價(jià)上漲的原因:金價(jià)的上漲反映了需求的增加以及計(jì)價(jià)單位的貶值;第三段美元下跌的原因;第四段分析了各國(guó)央行的反應(yīng);最后一段對(duì)金價(jià)繼續(xù)上揚(yáng)可能帶來(lái)的影響進(jìn)行了分析。詞匯注釋reverence: 5revErEns n. 崇敬,尊敬millennia: mIlenIE n. millennium的復(fù)數(shù)soaring: 5sC:riN adj. 劇增的;上升到明顯高于正常水平的troy ounce: n. 金衡制盎司, 金衡denominate: di5nCmineit v. 以面值發(fā)行以某種給定的貨幣單位發(fā)行或表達(dá)euro: jJErEJ n. 歐元depreciation: dIpri:FI5eIF(E)n n. 跌價(jià);貶值bull: bul n. 買空;(做)多頭stink: stiNk v. 發(fā)出臭味longish: 5lRNIF adj. 相當(dāng)長(zhǎng)的rally: 5rAli n. (行情、價(jià)格等)跌后復(fù)升greenback: ri:nbAk n. 美鈔tonne: tQn n. 公噸(=1,000公斤或稱 metric ton)rip up: 斯毀;取消overhang: 5EuvE5hAN n. 突出量難句突破At the margin, extra demand has come from those who think dollars-indeed any money backed by nothing more than promises to keep inflation low-a decidedly risky investment, mainly because America, with the worlds reserve currency, has been able to create and borrow so many of them.主體句式:extra demand has come結(jié)構(gòu)分析:本句是一個(gè)復(fù)雜句,from這個(gè)介詞所引導(dǎo)的狀語(yǔ)中包含一個(gè)who 引導(dǎo)的定語(yǔ)從句,一個(gè)插入語(yǔ),主句之后是一個(gè)because引導(dǎo)的原因狀語(yǔ)從句。nothing more than的意思是“只不過(guò),僅僅”。句子譯文:在此下跌情況下,導(dǎo)致金價(jià)上揚(yáng)的額外需求來(lái)自于那些認(rèn)為美元-或者任何一種依靠抑制通脹的許諾來(lái)支撐的貨幣無(wú)疑是一種高風(fēng)險(xiǎn)投資的人,主要因?yàn)槊绹?guó)擁有美元這一世界儲(chǔ)備貨幣,而且一直能夠制造和借來(lái)很多美元。題目分析1. 答案為B,屬事實(shí)細(xì)節(jié)題。文章第一段提到經(jīng)濟(jì)學(xué)家不喜歡黃金的原因是人們對(duì)黃金缺乏理性的崇拜。在他們看來(lái),黃金只不過(guò)是一種商品,也就是可以在市場(chǎng)交換的東西。2. 答案為A,屬事實(shí)細(xì)節(jié)題。文章第二段分析了金價(jià)上漲的兩個(gè)主要原因:金價(jià)用美元表示,而美元相對(duì)于其他貨幣貶值了;市場(chǎng)對(duì)黃金需求的增加。3. 答案為B,屬推理判斷題。根據(jù)文章第三段,美國(guó)因?yàn)閾碛惺澜鐑?chǔ)備貨幣,而且一直能夠制造和借來(lái)很多美元。要償還這些美元,最不費(fèi)力的方式就是讓美元貶值??梢?jiàn),美元貶值對(duì)美國(guó)是有益無(wú)害的事情。4. 答案為D,屬猜詞題。根據(jù)文章第四段,為了防止出現(xiàn)一國(guó)央行大量拋售黃金導(dǎo)致金價(jià)下跌的情況,各國(guó)央行達(dá)成協(xié)議,協(xié)調(diào)和限制今后的黃金銷售。如果金價(jià)持續(xù)上漲,很可能一些央行會(huì)再次拋售黃金(文中提到法國(guó)央行出售黃金的決定),那樣各國(guó)央行之間的協(xié)議就會(huì)被破壞。因此,根據(jù)上下文,“ripped up”最有可能的意思就是“torn up”(撕毀)。5. 答案為B,屬推理判斷題。根據(jù)文章第四段,在許多買家大量買入黃金的同時(shí),許多央行卻打算將他們囤積的黃金出售。文章第五段說(shuō),如果金價(jià)繼續(xù)上揚(yáng),各國(guó)央行之間的“限制和協(xié)調(diào)未來(lái)黃金銷售”的協(xié)議將會(huì)被打破,也就是說(shuō)金價(jià)的上漲會(huì)吸引各國(guó)央行出售黃金。參考譯文大多數(shù)經(jīng)濟(jì)學(xué)家都討厭黃金。要知道,這可不是因?yàn)樗麄兦撇黄鹨粌蓧K金條,而是因?yàn)樗麄儼l(fā)現(xiàn)許多人對(duì)這種金屬的崇敬幾乎到了毫無(wú)理性的地步。這與它被用作千禧年的貨幣并無(wú)關(guān)系:那已經(jīng)是昨日黃花了?,F(xiàn)代貨幣采用的是紙幣的形式,或者,更多時(shí)候,采用的是電子數(shù)據(jù)的形式。對(duì)經(jīng)濟(jì)學(xué)家來(lái)說(shuō),黃金現(xiàn)在只是另外一種商品。那么為什么金價(jià)會(huì)大幅上漲呢?在過(guò)去一周里,每金衡(1金衡約31.1025克)的價(jià)格達(dá)到了450美元,比年初上漲了9%,而比2001年4月則上漲了77%。啊,答案來(lái)了,黃金交易是以美元來(lái)計(jì)數(shù)的,價(jià)格的上漲只是反映了美元對(duì)其他貨幣的比價(jià),尤其是對(duì)歐元比價(jià)的下跌,而本周美元對(duì)
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