Section Ⅰ Use of English
Directions:
Read the following text. Choose the best word(s) for each numbered blank and mark A, B, C or D on ANSWER SHEET 1. (10 points)
A recent poll indicated that half the teenagers in the United States believe that communication between them and their parents is__1__and further that one of the prime causes of this gap is __2__listening behavior. As a(an)__3__ in point, one parent believed that her daughter had a severe__4__problem. She was so __5__that she took her to an audiologist to have her ear tested. The audiologist carefully tested both ears and reported back to the parent:"There’s nothing wrong with her hearing. She’s just __6__you out."
A leading cause of the __7__divorce rate (more than half of all marriages end in divorce) is the failure of husbands and wives to __8__effectively. They don’t listen to each other. Neither person__9__to the actual message sent by the other.
In __10__fashion, political scientists report that a growing number of people believe that their elected and __11__officials are out of__12__with the constituents they are supposedly __13__. Why? Because they don’t believe that they listen to them. In fact, it seems that sometimes our politicians don’t even listen to themselves. The following is a true story: At a national__14__conference held in Albuquerque some years ago, then Senator Joseph Montoya was__15__a copy of a press release by a press aide shortly before he got up before the audience to__16__ a speech. When he rose to speak,__17__the horror of the press aide and the__18__of his audience, Montoya began reading the press release, not his speech. He began, "For immediate release. Senator Joseph M. Montoya, Democrat of New Mexico, last night told the National..." Montoya read the entire six-page release,__19__ with the statement that he "was repeatedly __20__by applause."
1.[A] scarce [B] little [C] rare [D] poor
2.[A] malignant [B] deficient [C] ineffective [D] feeble
3.[A] case [B] example [C] lesson [D] suggestion
4.[A] audio [B] aural [C] hearing [D] listening
5.[A] believing [B] convinced [C] assured [D] doubtless
6.[A] turning [B] tuning [C] tucking [D] tugging
7.[A] rising [B] arising [C] raising [D] arousing
8.[A] exchange [B] interchange [C] encounter [D] interact
9.[A] relates [B] refers [C] responds [D] resorts
10.[A] like [B] alike [C] likely [D] likewise
11.[A] nominated [B] selected [C] appointed [D] supported
12.[A] connection [B] reach [C] association [D] touch
13.[A] leading [B] representing [C]delegating [D] supporting
14.[A] legislative [B] legitimate [C] legalized [D] liberal
15.[A] distributed [B] awarded [C] handed [D] submitted
16.[A] present [B] publish [C] deliver [D] pursue
17.[A] to [B] with [C] for [D] on
18.[A] joy [B] enjoyment [C] amusement [D] delight
19.[A] conclude [B] to conclude [C] concluding [D] concluded
20.[A] disrupted [B] interfered [C] interrupted [D] stopped
答案
1.D 2.B 3.A 4.C 5.B 6.B 7.A 8.D 9.C 10.A
11.C 12.D 13.B 14.A 15.C 16.C 17.A 18.C 19.C 20.C
总体分析
本文主要讨论了听行为对人际交流的影响。文章第一段从父母和子女之间的交流出发，说明儿女不听父母的话造成了他们之间的隔阂。第二段从婚姻的角度出发，说明夫妻双方的互不理睬造成交流不畅，从而使离婚率上升。第三段从政治的角度出发，说明政府官员不聆听选民甚至不在意自己所说的话，造成官民隔阂。例证法是本文采用的主要的论证方法。
试题精解
1.[精解] 本题考查考生通过上下文选择适当的形容词的能力。空格处填入的形容词在句子中充当表语，说明"青少年与父母的交流是__1__"。首先排除[C]项rare"希罕的，珍贵的"，因为它强调事物因罕见而珍贵，而文中需要的是表贬义的词。空格后面部分提到，造成这种隔阂(gap)的首要原因是听的行为。由此可知，这里讨论的是听对人与人之间交流效果的影响，不是交流少，而是交流不好，所以[D]项poor"质差的，效率低的，不理想的"正确。scarce"缺乏的，不足的";little"很少的，几乎无"。
2.[精解] 本题考查考生通过上下文选择适当的形容词的能力。空格处填入的形容词修饰listening behavior，说明"__2__听的行为会造成父母和孩子之间沟通不好"。[A]项malignant"恶性的，恶意的"贬义程度太深，不适合描述父母和孩子之间的行为。[D]项feeble "无效的，无力的"，形容人时表示"虚弱无力的"，形容事物时表示"无效的，无力的"，和[C]项ineffective"无效的，无能的"近义，如a feeble argument/joke无力的证据/干巴巴的笑话。由紧接着的下文的举例可知，这里说的听的行为是指主观上拒绝倾听。因此强调客观效度的[C]、[D]项也不适合。[B]项deficient"不完善的，有缺点的，有缺陷的"，意为not good enough，在文中指"不完善的听的行为"。符合文意。
例句补充：She developed a malignant tumor in her breast(她得了恶性乳腺癌);Our prisons are our most deficient social service(监狱是我们社会服务中最不完善的地方);This plan is ineffective(这个计划不奏效);Some Party organizations are feeble and lax(一些党的组织松散而无力)。
3.[精解] 本题考查考生对固定搭配的掌握程度。a case in point"典型的例子"是固定搭配，指a clear example of something that you are discussing or explaining，相当于for example，引出下文的例子。An example"一个例子"，a lesson"一课，一次教训";a suggestion"一个建议"，均不与in point搭配。
4.[精解] 本题考查考生对固定搭配的掌握程度。由上下文语义可知，该处意为：一位母亲认为她女儿有严重的听力问题。表达这个含义的固定搭配是hearing problem。[A]项audio"音频的，声频的"，如audio and video equipment(视听设备);[B]项aural "听觉的"，a musical with plenty of visual and aural appeal (一出颇娱人耳目的音乐喜剧);[D]项listening"收听的，注意的"。
5.[精解] 本题考查分词词义和用法的辨析。空格处的形容词与so...that结构搭配，作句子的表语。该句与前一句属于一个意群，都是举例中的叙述内容。根据语义，空格处的词与上句的谓语believe呼应，即she was...结构表示"她相信"。[A]项Believing"有信仰的"无法表达这种含义。[B]项convinced和be搭配，表示"确信的，深信的"，因此原文意为：她(母亲)(对女儿有严重听力问题)如此确信不疑，于是就带着女儿去看听觉病矫治专家......。[C]项assured"确实的，确定的"，修饰人作表语时，一般后面接有of短语或that从句，表示"肯定得到某物或达到某个目标"，如He is assured of a place in the final(他在决赛中肯定有一席之地);[D]项doubtless"无疑的(地)，确定的(地)"，多用作副词，做形容词修饰人时指"免除危险的恐惧，感到安全"，如The child slept doubtless and secure.
6.[精解] 本题考查短语动词词义的辨析。四个选项中只有[C]项的核心动词tuck"把......夹入，把......藏入"不能与空格后的sb. out结构搭配，如He tucked the letter in a book so he wouldn’t lose it(他把那封信夹在一本书里以免丢失)。但其他三个选项的含义符合上下文的只有[B]项，tune sb. out"不理睬，不注意 "，文中表示"女儿不理睬她的母亲"。Turn sb out"赶出，解雇，罢免"，如The voters turned out their local representatives(选民把他们的当地代表给罢免了);tug sb out"费力拉出或拖出"，如 We tugged her out(我们费力地把她拉了出来)。
7.[精解] 本题考查形容词词义的辨析。空格处填入的形容词修饰divorce rate，在含义上是指夫妻间倾听失败的结果。[A]项Rising与divorce rate 搭配意为"上升的离婚率"，符合文意。[B]项arising多作后置定语，接out of或from sth.，表示"由...引起/产生的"，如injuries arising out of an accident(由事故造成的伤害)。[C]项raise是及物动词，因此作定语表达"提高的，提升的"含义时，常用过去分词，如raised eyebrow;[D]项arouse"激起，唤醒"，也是及物动词，因此也常用过去分词作定语，如aroused curiosity(激起的兴趣)。它们的现在分词形式raising和arousing多在句中作状语。
8.[精解] 本题考查动词词义的辨析。空格处填入的动词是说明"夫妻之间8的失败导致了离婚率的上升"。全文主要讨论了人与人之间的交流问题，所以[D]项interact"交流，相互作用"正确，如Playing a game is a way for a family to interact(一起做游戏是家庭交流的一种方法)。[A]项exchange"交换，兑换"，如They exchanged heated words(他们激烈争吵);[B]项interchange"互换，使相互易位"，如The two boys interchanged caps(两个孩子把帽子换着戴);[C]项encounter"遭遇，遇到"，如I encountered a former classmate in the theatre(我在戏院里偶然遇到一位老同学)。
9.[精解] 本题考查动词词义的辨析。空格处填入的动词应与to搭配，并符合文意。由前文的They don’t listen to each other(他们对对方的话充耳不闻)可知，[C]项responds"作答，作出反应，响应"符合文意，如The government responded to pressure and dropped the proposal(政府感受到压力之后撤销了那项提议)，原文意为：每个人对对方传达的确切信息都毫无反应。Relate to"和......有关;欣赏，领略",如I can’t relate to that kind of music(我不能欣赏那种音乐);refer to"提到，指称;参考",如He often referred to notes while speaking(他演讲时常看讲稿);resort to"常去;求助，诉诸"，如If persuasion won’t work, we may have to resort to force(如果说服工作不见效，我们可能只得诉诸武力)。
10.[精解] 本题考查形近词的辨析。第二段和第三段分别论述了听的行为影响交流效果的例子。空格所在短语起过渡作用，表达"类似的，相似的"意思。[A]项like"相似的，同样的"构成的搭配in like fashion意为"以同样的方式"。[B]项alike"相同的，相似的"多做表语，不在名词前做定语，如My mother and I are alike in many ways(我和妈妈有很多相似之处);[C]项likely"很可能的，可靠的"语义与文意不符;[D]项likewise"同样地，照样地，又"是副词，不能直接修饰名词，也应排除。
11.[精解] 本题考查考生通过上下文选择适当的形容词的能力。空格处的形容词与elected并列，一起修饰officials，是同时存在或前后相继的关系。[C]项appointed"指定的"符合文意，即"选举后被指派的官员"。[A]项nominated"提名的，推荐的"，其动作应发生在elect之前;[B]项selected"挑选的"、[D]项supported"支持的，拥护的"与elected(选举的)意思重叠。
12.[精解] 本题考查考生通过上下文选择适当的名词的能力。空格处填入的名词应与out of和with搭配，且符合文意。[B]项reach"范围，影响"不能与with搭配，常见用法为sth. is out of reach或 sth. is out of the reach of sb.，意为"(某人)手不能及，够不到"。[A]项connection"关系，连接"、[C]项association"联合，联想"均不与out of搭配，[A]项用法是in connection with sb./sth."与...有关/相关"，[C]项用法是in association with sb./sth."与...一起联合"。[D]项out of touch with sb.意为"和...没有联系/脱节"，原文的含义是"官员们由于不听选民的意见而与选民失去了联系，不知民众疾苦"，[D]项正确。
13.[精解] 本题考查通过上下文选择适当的动词的能力。空格处所在部分"they are 13"是定语从句，修饰先行词constituents. 填入的分词形式所表示的是代词they即上文的officials对constituents所做的动作。西方国家的政府官员是由选民选举产生，理论上是选民的代表，为人们服务，represent意为"代表，表现"，所以[B]项正确。lead"领导";delegate"委派......为代表";support"支持"。
14.[精解] 本题考查通过上下文选择适当的形容词的能力。空格处的形容词与conference搭配。由下文参议员的讲话等可知，该处意为"立法会议"，[A]项legislative"立法的，立法机关的"正确。[B]项legitimate意为"合法的，正统的";[C]项legalized "使合法化的 ";[D]项liberal"自由主义的，不拘泥的"显然不合文意。
15.[精解] 本题考查通过上下文选择适当动词的能力。空格处填入动词的被动形式，该动作的实际发出者是a press aide，直接宾语是a copy of a press release，间接宾语是Senator Joseph Montoya，含义为"一份新闻稿被新闻助理...给参议员"。由于新闻助理与参议员没有直接的上下级关系，award"授于，判给"、submit"提交，递交"分别表示上对下和下对上的动作，所以[B]、[D]项不正确。又由于文章没有分发新闻稿的语境，所以[A]项distribute"分发，分配"也不能用。只有[C]项hand"交给，递给"符合语意。
16.[精解] 本题考查动词词义的辨析。[A]、[B]和[C]项都能与speech搭配，[C]项deliver"发表(一篇演说等)，陈述"，指口头发表，符合文意。[A]项present"介绍，赠送，呈现"，放入文中指再度呈现或演示别人(一般为名人)的演说;[B]项publish"公布，发表"，指在报刊、杂志等上发表;pursue"追赶，从事"，不与speech搭配。与speech搭配的动词还有make，give。
17.[精解] 本题考查介词的用法。介词to"致，致使(表结果)"的一个搭配是"to one’s+情感名词"用作结果状语，意为"令人(喜、怒、哀、乐......)的"。One’s既可是形容词性物主代词，也可以是名词所有格。文中to the horror of the press aide意为"使新闻助理大吃一惊的是"。[B]项with"同......，和......"表伴随;[C]项for"为了"，表目的;[D]项on"关于，涉及"，表主题。
18.[精解] 本题考查名词词义的辨析。空格处填入的名词与of the audience搭配，表明听众对参议员这一举动的反应。[A]项joy"欢乐，喜悦"、[B]项enjoyment"享乐，快乐"、[D]项delight"高兴，喜悦"三个备选项都有"愉快、高兴"的意思，相当于pleasure。显然均不合文意。[C]amusement"乐，趣味"，指 the feeling you have when you think something is funny，文中to sb’s amusement意为：令某人觉得有趣的是。
19.[精解] 本题考查分词短语作状语。空格所在部分和主语谓语read都是主语Montoya发出的动作，空格所在的动作做状语，即"他在新闻稿的末尾总结到..."，能够担任此语法功能的只有现在分词，所以[C]项concluding正确，相当于and he concluded with...。
20.[精解] 本题考查动词词义的辨析。空格处填入的动词被动式应表达掌声对参议员讲话的影响。[A]、[C]两项都有"中断"的意思，但disrupt"使中断，使陷入混乱，破坏"，意为to prevent something from continuing in its usual way by causing problems，常指不好事件的发生，如Traffic was disrupted by floods(交通因洪水而中断)，不合文意;interrupt"(使)中断"，指to stop someone from continuing what they are saying or doing by suddenly speaking to them, making a noise etc，符合文意。interfer"干涉，干预";stop"使停止，使停下来"。
全文翻译
最近的一项民意测验显示：美国一半的青少年认为他们与父母的交流不好，而且造成这种隔阂的一个首要原因是有不理想的倾听行为。一个典型的例子是，一位母亲认为她女儿有严重的听力问题。她对此确信无疑，于是就带着女儿去听觉病矫治专家那儿检查她的耳朵。专家仔细检查了两只耳朵，然后告诉这位母亲说："她的听力没问题，只是不理睬你而已。"
离婚率上升(一半以上的婚姻以离婚告终)的一个首要原因是夫妻间不能有效地交流。他们彼此充耳不闻。两人对对方发出的确切信息都毫无反应。
同样地，据政治科学家报道，越来越多的人相信他们选举指派的官员与其本应代表的选民失去了联系。为什么呢?因为这些人认为他们不需要倾听选民的意见。实际上，有时我们的政治家们似乎连自己的声音都不听。下面是一个真实的例子：在几年前亚柏克尔克举行的全国立法会议上，一位新闻助理在当时的参议员约瑟夫•蒙图亚演讲前交给了他一份新闻稿。令该新闻助理大吃一惊而使听众感到有趣的是，当蒙图亚起来讲话时，他读的不是演讲稿而是那份新闻稿。蒙图亚先生以"即时新闻稿。新墨西哥州的民主党参议员约瑟夫•蒙图亚昨晚在全国......上说......"开始，读完了全部的六页新闻稿，并以他"不时被掌声打断"结尾。Section Ⅱ Reading Comprehension
Part A
Directions:
Read the following four texts. Answer the questions below each text by choosing A, B, C or D. Mark your answers on ANSWER SHEET 1. (40 points)
Text 1
As a young bond trader, Buttonwood was given two pieces of advice, trading rules of thumb, if you will: that bad economic news is good news for bond markets and that every utterance dropping from the lips of Paul Volcker, the then chairman of the Federal Reserve, and the man who restored the central bank’s credibility by stomping on runaway inflation, should be respected than Pope’s orders. Today’s traders are, of course, a more sophisticated bunch. But the advice still seems good, apart from two slight drawbacks. The first is that the well-chosen utterances from the present chairman of the Federal Reserve, Alan Greenspan, is of more than passing difficulty. The second is that, of late, good news for the economy has not seemed to upset bond investors all that much. For all the cheer that has crackled down the wires, the yield on ten-year bonds-which you would expect to rise on good economic news-is now, at 4.2%, only two-fifths of a percentage point higher than it was at the start of the year. Pretty much unmoved, in other words.
Yet the news from the economic front has been better by far than anyone could have expected. On Tuesday November 25th, revised numbers showed that America’s economy grew by an annual 8.2% in the third quarter, a full percentage point more than originally thought, driven by the ever-spendthrift American consumer and, for once, corporate investment. Just about every other piece of information coming out from special sources shows the same strength. New houses are still being built at a fair clip. Exports are rising, for all the protectionist crying. Even employment, in what had been mocked as a jobless recovery, increased by 125,000 or thereabouts in September and October. Rising corporate profits, low credit spreads and the biggest-ever rally in the junk-bond market do not, on the face of it, suggest anything other than a deep and long-lasting recovery. Yet Treasury-bond yields have fallen.
If the rosy economic backdrop makes this odd, making it doubly odd is an apparent absence of foreign demand. Foreign buyers of Treasuries, especially Asian certral banks, who had been swallowing American government debt like there was no tomorrow, seem to have had second thoughts lately. In September, according to the latest available figures, foreigners bought only $56 billion of Treasuries, compared with $25.1 billion the previous month and an average of $38.7 billion in the preceding four months. In an effort to keep a lid on the yen’s rise, the Japanese central bank is still busy buying dollars and parking the money in government debt. Just about everyboby else seems to have been selling.
1. The advice for Buttonwood suggests that _____.
[A] Paul Volcker enjoyed making comments on controlling inflation
[B] the Federal Reserve has an all-capable power over inflation control
[C] economy has the greatest influence upon the daily life of ordinary people
[D] the economic sphere and bond markets are indicative of each other
2. The word "passing"(Line 7, Paragraph 1) most probably means_____.
[A] instant
[B] trivial
[C] simple
[D] negligible
3. Which of the following is responsible for the rapid economic growth in the US?
[A] Domestic consumers.
[B] Foreign investments.
[C] Real estate market.
[D] Recovering bond market.
4. According to the last paragraph, most Asian central banks are becoming _____.
[A] rather regretful
[B] less ambitious
[C] more cautious
[D] speculative
5. The phrase "keep a lid on"(Line 6, Paragraph 3) most probably means_____.
[A] put an end to
[B] set a limit on
[C] tighten the control over
[D] reduce the speed of答案
1.D 2.D 3.A 4.C 5.B
总体分析
本文是一篇介绍美国债券市场的文章。
第一段：通过叙述年轻的债券交易员获得的建议说明目前债券市场的状况有些出人意料。
第二段：指出在经济发展形势一片大好的背景下，国债收益率却在下降。
第三段：指出对美国国债的国外需求也出现疲软。
试题精解
1.巴腾渥德得到的建议表明_____。
[A] 保罗•沃尔克喜欢就控制通货膨胀发表评论
[B] 联邦储备局在控制通货膨胀上有着超凡的力量
[C] 经济对普通人的日常生活影响最大
[D] 经济领域和证券市场互为表征
[精解] 本题考查推理引申。第一段首句提到巴腾渥德得到的两条建议。第一条建议是："经济方面的坏消息对于债券市场来说却是好消息"。由此可知，从经济领域和证券市场中一方的状况可以反推出另一方的状况。因此[D]正确，be indicative of sth.意为"表明，暗示，标示"。第二条建议是："美国联邦储备局前主席说的话都是金玉良言"。由此只能推知这位美国联邦储备局前主席说的话很有分量，不能推出他"喜欢评论(enjoyed making comments)"。从该句可知，沃尔克曾通过重踏来势迅猛的通货膨胀重建了央行的信誉。restore一词表明联邦储备局，即，美国的中央银行在控制通货膨胀上也曾经失利，排除[B]。[C]无从推知。
2. 第一段第八行的单词"passing"最可能的含义是_____。
[A] 立即的
[B] 琐碎的
[C] 简单的
[D] 微不足道的
[精解] 本题考查词义理解。passing一词出现在第一段第四句。其上文提到，"债券交易员得到的两条建议有两处细微的缺陷。第一点是要从现任联邦储备局主席的嘴里听到精确而有分量的话不只是......的困难(more than passing difficulty)"。显然这一内容是针对上文第二条建议(即，美国联邦储备局前主席说的话都是金玉良言)而讲的。由"缺陷"(drawbacks)一词可知，从现任联邦储备局主席那听到金玉良言是非常困难的，这种困难不是"微不足道的"，因此[D]正确。
3. 下面哪一个是美国经济快速增长的原因?
[A] 国内消费者。
[B] 外国投资。
[C] 房地产市场。
[D] 正在恢复的债券市场。
[精解] 本题考查事实细节。由第二段第二句可知，美国经济第三季度呈现快速增长，这种增长是由一直以来挥霍无度的美国消费者以及仅此一次的公司投资带来的(driven by...)。由此可知[A]是促进经济增长的原因之一。另外一个原因是"公司投资(corporate investment)"，而非"外国投资"，排除[B]。下文虽然提到"新房子建造速度快"，但它是经济增长的表现，而非原因。[D]在文中没有作为经济增长的原因被提及。
4. 根据文章最后一段，大部分亚洲中央银行正变得_____。
[A] 相当悔恨
[B] 不那么有野心
[C] 更谨慎
[D] 猜疑
[精解] 本题考查推理引申。文章最后一段第二句提到，一直以来作为美国国债最大的外国买家的亚洲中央银行最近改变了过去的做法。接着该段以具体数据说明外国买家购买美国国债的数量下降。从文中"swallowing American government debt like there was no tomorrow"可看出作者认为大举购买国债的做法是"不谨慎"的，而下文"have had second thoughts"他表明它变得更加慎重，因此[C]为正确答案。
5. 第三段第六行的短语"keep a lid on"最可能的含义是_____。
[A] 结束
[B] 设置限制
[C] 加紧控制
[D] 降低速度
[精解] 本题考查词义理解。"keep a lid on"出现在最后一段倒数第二句，表示对"日元升值"做的动作。下文提到具体做法是：日本中央银行忙于购进美元并且把这些钱转为政府债务。四个选项都是同一方向的表达，根据经济常识，应选[B]，表示"限制日元的升值"。
核心词汇或超纲词汇
(1)rules of thumb经验法则，也称ROT，通常是基于以前的经验(比如在一段时间内观察到的平均值)或者更复杂公式的简化。
(2)stomp(v.)迈着重重的步子走(或跳舞、移动)，重踩，重踏
(3)runaway(a.)逃跑的，出走的;失控的;轻易的，迅速的
(4)passing(a.)暂时的，瞬间的;经过的，过往的
(5)(just) for once仅此一次(与通常情况对比而言)，如~ he arrived on time.(只有这一次他按时到了。)
(6)spendthrift(a./n.)花钱无度的(人)，挥霍的(人)
(7)at a fast/good/fair/steady, etc. clip迅速，很快地，如Land prices will rise at a healthy clip.(土地价格将快速稳定上涨。)
(8)thereabouts(ad.)(通常用于or之后)(时间、数量等)大约，左右，上下
(9)on the face of it表面上看
(10)rally(n.)公众集会;(体育运动或证券交易)止跌回升
(11)Treasury(n.)(英、美等国的)财政部
(12)rosy(a.)红润的;美好的，乐观的，如The future is looking very ~ for our company.(我们公司的前景一片光明。)
(13)backdrop(n.)(舞台)背景幕;(事态或活动的)背景
(14)speculative(a.)推测的，猜测的，推断的;投机性的，风险性的
全文翻译
作为一名年轻的债券交易员，巴腾渥德得到了两条建议，如果采纳的话，它们是贸易的经验法则：一，经济方面的坏消息对于债券市场来说就是好消息;二，从美国联邦储备局前主席保罗•沃尔克口中说出的每一句话，都要比大教皇的命令还值得重视。沃尔克通过控制来势迅猛的通货膨胀重建了央行的信誉。当然，如今的交易员是一群更精明的人。但是这些建议除了有两处细微的缺陷外，看上去仍是不错的。首先，要从现任联邦储备局主席阿伦•格林斯潘嘴里听到精确而有分量的话不只是微不足道的困难。第二，最近经济的好消息似乎并没有让债券投资者很不安。尽管欢呼声已经四处响起，但是本来期待由于经济好消息而上涨的10年期债券的收益率现在是4.2%，这仅仅只比年初高了0.4个百分点，换句话说，是几乎没有改变。
但是到目前为止，前沿经济信息比任何人预期的都要好。在11月25日周二，修改后的数据显示，美国经济第三季度年增长率为8.2%，比人们最初设想的多了整整一个百分点。这种增长是由一直以来挥霍无度的美国消费者以及仅此一次的公司投资带来的。从特殊渠道传出的消息每隔一条就呈现这种强劲的增长势头。新房子仍在迅速地建造。尽管地方保护主义者不停地叫嚣，出口量却仍在增长。甚至曾被嘲讽为"失业型复苏"的劳动力市场，在九、十月份也增加了125000个左右的就业岗位。表面上看，公司利润的上升，信贷息差的降低，和迄今为止垃圾债券市场中最大的止跌回升，都在暗示一个全面的、持久的经济复苏。然而，国债收益率却下降了。
如果说大好的的经济背景使这一切变得奇怪，那么显而易见的国外需求的疲软就令其更加奇怪了。国债的外国买家，尤其是一直以来不顾后果、大举购买美国政府债务的亚洲中央银行，最近似乎变得谨慎起来。根据最新数据显示，九月份外国买家仅仅购买了56亿美国国债，与八月份的251亿美元和前四个月平均达到的387亿美元相比，实在相形见绌。为了努力限制日元的升值，日本中央银行仍在忙于购进美元并且把这些钱转为政府债务。但是其他国家几乎都在抛售Text 2
We’re moving into another era, as the toxic effects of the bubble and its grave consequences spread through the financial system. Just a couple of years ago investors dreamed of 20 percent returns forever. Now surveys show that they’re down to a "realistic"8 percent to 10 percent range.
But what if the next few years turn out to be below normal expectations? Martin Barners of the Bank Credit Analyst in Montreal expects future stock returns to average just 4 percent to 6 percent. Sound impossible? After a much smaller bubble that burst in the mid-1960s Standard & Poor’s 5000 stock average returned 6.9 percent a year (with dividends reinvested) for the following 17 years. Few investors are prepared for that.
Right now denial seems to be the attitude of choice. That’s typical, says Lori Lucas of Hewitt, the consulting firm. You hate to look at your investments when they’re going down. Hewitt tracks 500,000 401 (k) accounts every day, and finds that savers are keeping their contributions up. But they’re much less inclined to switch their money around. "It’s the slot-machine effect," Lucas says. "People get more interested in playing when they think they’ve got a hot machine"-and nothing’s hot today. The average investor feels overwhelmed.
Against all common sense, many savers still shut their eyes to the dangers of owning too much company stock. In big companies last year, a surprising 29 percent of employees held at least three quarters of their 402 (k) in their own stock.
Younger employees may have no choice. You often have to wait until you’re 50 or 55 before you can sell any company stock you get as a matching contribution.
But instead of getting out when they can, old participants have been holding, too. One third of the people 60 and up chose company stock for three quarters of their plan, Hewitt reports. Are they inattentive? Loyal to a fault? Sick? It’s as if Lucent, Enron and Xerox never happened.
No investor should give his or her total trust to any particular company’s stock. And while you’re at it, think how you’d be if future stock returns-averaging good years and bad-are as poor as Barnes predicts.
If you ask me, diversified stocks remain good for the long run, with a backup in bonds. But I, too, am figuring on reduced returns. What a shame. Dear bubble, I’ll never forget. It’s the end of a grand affair.
1. The investors’ judgment of the present stock returns seems to be _____.
[A] fanciful
[B] pessimistic
[C] groundless
[D] realistic
2. In face of the current stock market, most stock-holders_____.
[A] stop injecting more money into the stock market
[B] react angrily to the devaluing stock
[C] switch their money around in the market
[D] turn a deaf ear to the warning
3. In the author’s opinion, employees should _____.
[A] invest in company stock to show loyalty to their employer
[B] get out of their own company’s stock
[C] wait for some time before disposing of their stock
[D] give trust to a particular company’s stock
4. It can be inferred from the text that Lucent, Enron and Xerox are names of _____.
[A] successful businesses
[B] bankrupted companies
[C] stocks
[D] huge corporations
5. The author’s attitude towards the long-term investors’ decision is _____.
[A] positive
[B] suspicious
[C] negative
[D] ambiguous 答案
1. A 2.D 3.B 4.B 5.A
总体分析
本文是介绍股票投资的经济类文章。作者先介绍了投资股票回报率的下降趋势，接着指出了投资者的错误投资行为，最后提出了建议。
第一至二段：指出投资股票回报率呈下降趋势。
第三至六段：指出许多投资者仍然在继续投资，而且很多老雇员将投资计划的重心放在了自己公司上。
第七至八段：指出投资者不应该完全信任任何一家公司，而应选择有利于长期投资的多样股。
试题精解
1.投资者对现在股票报酬的判断似乎是_____。
[A] 幻想的
[B] 悲观的
[C] 没有根据
[D] 现实的
[精解] 第一段提到，投资者几年前的梦想是永远拿到20%的(股票投资)回报。现在调查显示它降到了"现实的"8%至10%的范围。第二段作者先提出疑问：但是如果未来几年里这个值低于正常的期望呢?接着以银行信用分析家Martin Barnes和标准普尔5000指数为例指出，未来股票投资回报率必然是下降的。二段末句作者指出，很少有投资者为此作好了准备。由此可推出，面对股票投资回报下降的趋势，投资者的判断是不够现实的，是幻想的。另外， 第一段的dreamed of、realistic 的引号、以及第二段sound impossible后面的问号也都暗示了这一点。因此[A]项正确。
2.面对现有的股票市场，大部分股票持有者____。
[A] 不再投入更多资金到股票市场
[B] 对贬值的股票反应很愤怒
[C] 将他们的资金转向市场其他领域
[D] 对警告置若罔闻
[精解] 本题考虑事实细节题。第四段第一句提到，许多投资者(savers)对拥有太多公司股票的危险视而不见。[D]项是该句的改写，其中turn a deaf ear对应原文中的shut their eyes to，the warning对应the dangers。
第三段作者通过休伊特(Hewitt)咨询公司的职员的介绍说明，投资者仍在不断地投钱(keeping their contributions up)，但是他们不太愿意把资金转投其他地方了(less inclined to switch their money around)。由此排除[A]和[C]项。第三段末句"投资者普遍感到吃惊(overwhelmed)"指的就是持股者对股市不景气的反应。因此[B]项与事实不符。
3.根据作者的观点，雇员们应该 _____。
[A] 投资公司股票以显示对雇主的忠诚
[B] 退出自己公司的股票
[C] 等一段时间再处理自己的股票
[D] 信任一家特殊公司的股票
[精解] 本题考查作者观点。第五段中作者提到，年青的雇员没有选择，只能等到50或55岁才能卖掉公司的股票以作为配送缴款(matching contribution)。第六段则提到，而老雇员在能够退出(getting out)的时候却没有。60岁和以上的人中1/3的人选择公司股票作为他们3/4的投资计划。该段末句作者连续用几个问号对这种做法进行了质疑：难道他们疏忽了?过度忠诚?疾病?由此我们可推出作者的观点是反对投资自己公司的做法。因此[B]项正确，排除[A]项。
第七段首句作者则提到，投资者不应该完全信任任何一家公司的股票。因此[D]项是作者反对的。[C]项文中未提。词汇补充：to a fault"过度地"，如generous to a fault(过度慷慨)。
4.从文中可以推出，朗讯、安然和施乐是什么的名字?
[A] 成功的企业
[B] 破产的公司
[C] 股票
[D] 庞大的企业
[精解]题干中的几个专有名词出现在第六段末，该句用虚拟语气指出，就好像朗讯、安然和施乐的事情从来未发生过一样。联系上下文，上文作者对雇员购买公司股票的行为表示质疑，下文则提出不应完全信任任何一家公司。由此可推出，这是三家作为反面例子的公司，由于它们的先后破产，使持有这些公司股票的人受到很大的损失。[B]项最恰当。
5.作者对长期投资者的决定的态度是_____。
[A] 肯定
[B] 怀疑
[C] 否定
[D] 含糊其词
[精解] 最后一段作者给出了自己对股票投资的看法：多样股可以长远地保持稳定，再加上债券的支持。可见，作者鼓励投资者做长远地考虑。上文中作者对投资公司股票行为的警告也是在劝告投资人不要抱有一劳永逸的想法，要有长远的计划，预期可能出现的风险。所以，[A]为正确选项。
核心词汇或超纲词汇
(1)toxic(a.)有毒的，中毒的;toxicant(n.)有毒物，毒药
(2)bubble(n.)气泡，泡沫;泡影，空谈，幻想(v.)起泡;沸腾;兴奋，得意
(3)turn out to be结果是，(最后)证明是，如It turned out to be a great disappointment.结果使人们大为失望。
(4)dividend(n.)被除数;股息，股份红利;额外津贴，奖金;意外的收获
(5)contribution(n.)捐款;贡献;投稿;分担(额)
(6)slot(n.)(机械或工具上的)狭缝，槽沟;时段
(7)overwhelm(v.)淹没，覆没;制服，压倒;过于大量地给予;使不安，使困窘;overwhelming(a.)压倒性的，无法抵抗的
(8)inattentive(a.)疏忽的，不注意的;attentive(a.)注意的，专心的
(9)diversified(a.)多变化的，各种的;diversify(v.)使多样化
(10)backup(n.)支援(者)，支持(者)(a.)额外的，替补的
(11)figure on指望，依赖~ your support;考虑，预期~ an hour’s delay;计划~ leaving at noon
全文翻译
当泡沫的毒效和它的严重后果在整个金融系统中散开时，我们正在进入另外一个时代。就在几年前投资者还在梦想永远拿到20%的股票投资回报。现在调查显示它降到了"现实的"8%至10%的范围。
但是如果未来几年里这个值低于正常的期望呢?蒙特利尔银行信用分析家马丁•巴恩斯预计未来的股票投资回报率平均为4%至6%。听起来不可能?一个较小的泡沫于20世纪60年代破灭之后，在接下来的17年里标准普尔5000股票的回报率平均一年为6.9%(包括红利再投资)。很少有投资者为此作好了准备。
现在看来，投资者似乎选择了否认的态度。休伊特咨询公司的职员洛丽•卢卡斯指出，这很具代表性。你不会愿意看到自己的投资效益减少。休伊特公司每日跟进500,000 401 (k)帐户，发现投资者仍在不断地投钱，但是他们不太愿意把资金转投其他地方了。卢卡斯说，"这是老虎机效应，当人们认为他们找到了一台赌运极佳的机器时会对玩更有兴趣，但如今没有什么是幸运的。投资者普遍感到吃惊。"
违背常识的是，许多投资者对拥有太多公司股票的危险视而不见。不可思议的是，去年大公司中29%的雇员在他们自己的股票投资中至少有3/4的402(k)。
年青的雇员没有选择，只能等到50或55岁才能卖掉公司的股票以作为配送缴款。
但是据休伊特公司报导，老雇员在能够退出的时候却也一直死抱着股票不放。60岁和以上的人中1/3选择公司股票作为他们3/4的投资计划。难道他们疏忽了?过度忠诚?疾病?就好像朗讯、安然和施乐的事情从来未发生过一样。
投资者不应该完全信任任何一家公司的股票。当你投资时，考虑一下如果未来的股票投资回报(好的年份和不好的年份一平均)像巴恩斯所预测的那样糟糕，后果会如何?
如果你问我，我认为多样股加上债券的支持可以长远地保持稳定。但是，我也在计算股票投资回报的减少。多么的羞耻。亲爱的泡沫，我永远不会忘记它，它是重大事件的终止Text 3
What accounts for the astounding popularity of Dr.Phil McGraw? Why have so many TV viewers and book buyers embraced this tough warrior of a psychologist who tells them to suck it up and deal with their own problems rather than complaining and blaming everyone else? Obviously, Oprah Winfrey has a lot to do with it. She made him famous with regular appearances on her show, and is co-producing the new "Dr.Phil" show that’s likely to be the hottest new daytime offering this fall. But we decided to put Dr. Phil on the cover not just because he’s a phenomenon. We think his success may reflect an interesting shift in the American spirit of time. Could it be that we’re finally getting tired of the culture of victimology?
This is a tricky subject, because there are very sad real victims among us. Men still abuse women in alarming numbers. Racism and discrimination persist in subtle and not-so-subtle forms. But these days, almost anyone can find a therapist or lawyer to assure them that their professional relationship or health problems aren’t their fault. As Marc Peyser tells us in his terrific profile of Dr. Phil, the TV suits were initially afraid audiences would be offended by his stern advice to "get real!" In fact, viewers thirsted for the tough talk. Privately, we all know we have to take responsibility for decisions we control. It may not be revolutionary advice (and may leave out important factors like unconscious impulses). But it’s still an important message with clear echoing as, a year later, we contemplate the personal lessons of September 11.
Back at the ranch (livestock farm)-the one in Crawford, Texas-President Bush continued to issue mixed signals on Iraq. He finally promised to consult allies and Congress before going to war, and signaled an attack isn’t coming right now ("I’m a patient man"). But so far there has been little consensus-building, even as the administration talks of "regime change" and positions troops in the gulf. Bush’s team also ridiculed the press for giving so much coverage to the Iraq issue. Defense Secretary Rumsfeld called it a "frenzy," and Press Secretary Ari Fleischer dismissed it as "self-inflicted silliness." But as Michael Hirsh notes in our lead story, much of the debate has been inside the Republican Party, where important voices of experience argue Bush needs to prepare domestic and world opinion and think through the global consequences before moving forward. With so much at stake, the media shouldn’t pay attention? Now who’s being silly?
1. Faced with diversified issues of injustice, Dr. Phil McGraw advised that people should __.
[A] strongly voice their condemnation of those responsible
[B] directly probe the root of their victimization
[C] carefully examine their own problems
[D] sincerely express their sympathy for the victims
2. One possible response, when the program "Dr. Phil" was first presented on TV, that people were afraid of was _____.
[A] suspicion
[B] satisfaction
[C] indifference
[D] indignation
3. The word "tough"(Line 7, Paragraph 2) most probably means_____.
[A] piercing to the truth
[B] using vulgar language
[C] mean and hostile
[D] difficult to understand
4. The author advises the public to _____.
[A] leave out factors such as unconscious impulses
[B] draw lessons of their own from September 11
[C] respond decisively to September 11 tragedy
[D] accept decisions beyond our control
5. With a series of questions at the end of the text, the author _____.
[A] feels uncertain of what his own opinion is
[B] differentiates two conflicting views
[C] criticizes the Bush Administration
[D] argues for the US policy on Iraq 答案
1.C 2.D 3.A 4.B 5.C
总体分析
本文是一篇讨论"9•11"事件的社会根源的文章。
第一段：通过分析菲尔博士的节目受欢迎的原因，指出美国人不再一味把自己看作受害者，而开始接受"找自己的问题"的观念。
第二段：指出在习惯于事事都把自己看作受害者的社会文化中，菲尔博士提出的"面对现实"的一针见血的建议非常有意义。
第三段：联系到"9•11"事件，指出布什政府应该对它负责。
试题精解
1.面对各种各样的不公正的问题，菲尔•麦格劳博士建议人们应该 _____。
[A] 强烈表示对那些罪魁祸首的谴责
[B] 直接探究他们成为受害者的根源
[C] 仔细检讨自己的问题
[D] 真诚地表达对受害者的同情
[精解] 本题考查事实细节。第一段第二句中who引导的定语从句介绍了菲尔•麦格劳博士的观点。他告诉人们"要忍气吞声，找自己的问题而不要抱怨或责备其他人"。因此[C]正确。
2.当"菲尔博士"节目第一次出现在电视上，人们害怕出现的一种反应可能是 _____。
[A] 猜疑
[B] 满意
[C] 漠然
[D] 愤怒
[精解] 本题考查推理引申。第二段第五句提到，正如马克•佩瑟在他对菲尔博士的精彩简介中告诉我们的，电视工作组起初害怕观众会被他"面对现实"的强硬建议惹怒(be offended)。因此[D]正确。
3. 第二段第七行出现的单词"tough"最可能的含义是 _____。
[A] 一针见血的
[B] 使用粗俗的语言的
[C] 卑鄙的、带有敌意的
[D] 很难理解的
[精解] 本题考查词义理解。tough一词出现在第二段第六句，该句指出，观众渴望这种tough谈话。其上文提到，电视工作组起初害怕观众会被菲尔博士"面对现实"的强硬(stern)建议惹怒。因此tough talk指的就是上文stern advice，即呼吁人们"面对现实"的建议。因此最接近的含义是[A]。
4. 作者建议公众_____。
[A] 忽略像下意识的冲动这样的因素
[B] 从"9•11"事件中吸取自己的教训
[C] 对"9•11"惨案给予果断的回应
[D] 接受不被我们控制的决定
[精解] 本题考查推理引申。第一段提到，菲尔博士告诉人们要找自己的问题而不要抱怨或责备其他人。第二段最后两句提到，菲尔博士呼吁人们"面对现实"的建议不是革命性的建议，甚至没有考虑到影响人们行为的基本因素，但它仍然是有意义的，并得到了公众的回应。比如，它在我们对"9•11"事件的反省中就很有意义。由此可推知，作者认为对待"9•11"事件我们可以采用菲尔博士的建议，即面对现实，总结自己的经验教训，不把责任推卸到别人身上。因此[B]正确。[A]在第二段倒数第二句的括号中出现，是作者认为菲尔博士的建议中可能忽略的一些重要因素，并不是作者建议大家做的事情。[C]也无从推知。[D]项是根据第二段倒数第三句臆造的选项，也不是作者提倡的观点。
5. 作者在文章最后提出一系列的问题是因为他_____。
[A] 不确定自己的观点
[B] 在区别两种相冲突的观点
[C] 批评布什政府
[D] 支持美国对伊拉克的政策
[精解] 本题考查写作目的。文章最后作者提问到，有这么多的利害关系在里面，媒体难道不应该关注吗?到底是谁愚蠢呢? 由上文可知，"这么多的利害关系"指的是"对国家和世界可能带来的不良影响"，"愚蠢"是在回应"新闻秘书长批评新闻界过多报道伊拉克问题是自寻烦恼的愚蠢行为"，显然，作者是在讽刺布什政府一意孤行地发动战争。因此[C]正确。
核心词汇或超纲词汇
(1)astounding(a.)令人惊骇的
(2)embrace(v.)拥抱;欣然接受、乐意采纳(思想、建议等)
(3)suck it up接受糟糕的现实并很好地处理，逆来顺受，忍气吞声
(4)phenomenon(n.)(复数形式是phenomena)现象;(复数形式是phenomenons)杰出的人，非凡的人(或事物)
(5)profile(n.)侧面轮廓;外形，轮廓;概述，简介
(6)frenzy(n.)疯狂，狂乱，狂暴
(7)inflict(v.)使遭受打击，使吃苦头
全文翻译
是什么让菲尔•麦格劳博士如此受欢迎?为什么这么多电视观众和读者都喜爱这位如同钢铁战士一般，告诉他们要忍气吞声，找自己的问题而不要抱怨或责备其他人的心理学家?显然，奥普拉•温弗里为此作了许多工作。她让博士在她的电视节目上频繁亮相而出名，并联合制作了新的节目--"菲尔博士"秀，该节目很可能成为今年秋季最火爆的白天档节目。但是我们决定把菲尔博士作为封面人物并不仅仅因为他是个天才。我们认为他的成功可能反映了美国人时代观念的一个有趣的转变。也许是我们最终厌倦了受害者学的文化?
这是一个棘手的问题，因为在我们之中有许多令人痛心的真正受害者。男子虐待妇女的数字仍然惊人，种族偏见和歧视仍然以微妙或明显的方式存在着。但现如今，几乎每个人都可以找到治疗师或律师来让他们相信职业关系或健康方面的问题都不是自己造成的。正如马克•佩瑟在他对菲尔博士的精彩简介中告诉我们的，电视工作组起初害怕观众会因为他 "面对现实"的强硬建议而被惹怒。但事实上，观众渴望这种一针见血的谈话。其实，我们每个人都知道应该对自己所做的决定负责，因此它也许不是革命性的建议(可能会忽视像下意识的冲动这样的重要因素)，但它仍然是一条得到很大反响的重要信息，比如一年后的今天，我们就从"9•11"事件中总结个人经验教训。
让我们追溯到位于德州克劳福德镇的大牧场(畜牧农场)，布什总统在那里对伊拉克问题的态度仍然含糊不清。他最后答应卷入战争之前会与国会和盟国磋商，并表示不会立刻发动攻击(他说"我是一个有耐心的人")。但如今，即使当布什政府谈论"制度变革"和向海湾地区派兵的时候，几乎也没有达成共识。布什团队还嘲笑新闻界过多地报道了伊拉克问题。国防部长拉姆斯菲尔德称它是"疯狂的活动"，新闻秘书长阿里•弗莱舍说它是"自寻烦恼的愚蠢的行为"。但是正如迈克尔•赫西在头条新闻中报道的那样，共和党内部已经产生了很大的分歧，党内一些重要的有经验的人士指出，布什在行动前需要考虑国内和世界舆论以及战争对全球的影响。有这么多的利害关系在里面，媒体难道不应该关注吗?到底是谁愚蠢呢?Text 4
Pressure is mounting on Ahold’s embattled supervisory board following the Dutch grocery group’s decision to pay its new chief executive more than C= 10m to lead its recovery from a ruining accounting scandal.
Anders Moberg’s pay package-and the timing of its disclosure at a shareholder meeting last week-has confronted Ahold with a new credibility crisis as it struggles to restore confidence after the C=970m ( $1 bn) scandal.
The dispute-evident in a sea of critical media comment in the Netherlands at the weekend threatens to divert management from its recovery strategy, built on significant divestments and a likely rights issue to reduce C=11bn in net debt. Units deemed unable to attain first or second position in food retail within three to five years will immediately be put up for sale.
The board’s position appears all the more delicate following comments made by Mr. Moberg to the Financial Times, in which he criticized non-executive directors for ignoring his advice to disclose his salary in May, when he agreed his contract.
Instead Ahold waited more than four months to make the announcement, on the day share-holders were asked to approve Mr. Moberg’s appointment.
"I was the one who said I liked transparency, and I had hoped [the supervisory board] had shown [the salary package] in May to avoid a situation like this," Mr. Moberg told the FT. examda.com(）
As the row prompted the left-leaning Dutch Daily to call for a boycott of Ahold’s Dutch Albert Heijn supermarket chain where only last week Ahold announced 440 redundancies-it was clear the supervisory board had badly misjudged the reaction.
While Henny de Ruiter, supervisory board chairman, said the salary was a fair reflection of what a company in Ahold’s unfavorable circumstances had to pay to attract a top manager,furious investors accused it of pushing through the package regardless of investor opinion.
Furthermore, Dutch media commentators noted that the scandal at Ahold had been the trigger for the Dutch government to appoint a commission to strengthen corporate governance.
That commission has recommended a limit on executive bonuses, far below the potential two-and-a-half times annual salary that Mr. Moberg could earn.
Meanwhile, Mr. Moberg is trying to distance himself from the row and focus on strategy. He told the FT that measures had already been taken to raise its stake in the ICA-Ahold joint venture in Scandinavia.
Ahold had included in its forecasts an amount necessary to buy the shares of either of its joint venture partners, who should exercise a "put option" and sell their stake from April 2004.
1. The decision on Anders Moberg’s pay package has _____.
[A] incurred much criticism from the shareholders
[B] helped restore public confidence in Ahold
[C] saved the supervisory board from another crisis
[D] put pressure on the new chief executive
2. The recovery strategy by Ahold’s management includes _____.
[A] avoiding the next accounting scandal
[B] diverting investment to other fields
[C] issuing rights to more retailers
[D] selling the retailers with poor performance
3. Anders Moberg thought that if his salary had been announced earlier, _____.
[A] the board’s position would have become less difficult
[B] he would have agreed to the contract with Ahold
[C] more time could have been devoted to his recovery plan
[D] the shareholders wouldn’t have strongly opposed
4. Before the scandal at Ahold, the executive bonuses in Dutch companies _____.
[A] were higher than what Moberg earned
[B] were regulated by a commission
[C] were not monitored by the government
[D] were not set by corporate management
5. According to Moberg’s recovery strategy, Ahold will _____.
[A] sell its stake to other joint venture companies
[B] buy shares of its Scandinavian partners
[C] choose to put money in its chain shops in Scandinavia
[D] exercise its potential influence on partners