英语高级口译岗位资格证书考试

问答题Passage 7U. S consumer prices climbed faster than expected in May, further fanning investor fears over inflation. Stock markets around the world have cracked sharply lower the past few weeks, with the Dow Jones Industrial Average losing all the ground

题目
问答题
Passage 7U. S consumer prices climbed faster than expected in May, further fanning investor fears over inflation. Stock markets around the world have cracked sharply lower the past few weeks, with the Dow Jones Industrial Average losing all the ground it had gained so far this year. Japan’s stock market is down 11% on the year; gold has had its biggest slide in a decade and a half; and many emerging markets are wobbling. After Wednesday’s Consumer Price Index report from the Labor Department, which showed a 0.4 percent increase in prices for May (core inflation, which excludes food and energy, rose 0.3 percent), the stock market made a comeback. But with future interest rate hikes now starting to be priced into the market, investor fears that central bankers around the world will go overboard and continue to drive rates higher is set to further spook markets. This is no trading correction that investors have to absorb. The real risk of a jarring bear market has emerged.  But while the trauma that inflation created for investors in the 1970s is still close to the surface, the sudden frenzy is misplaced. Powerful forces in the world economy continue to keep prices largely in check.  Over the past decade, inflation has been a minor threat compared with brutal deflationary shocks. They started with the collapse of the Mexican peso in the mid-1990s. In 1997, much of eastern Asia’s flourishing economy was leveled. Next were Russia, Turkey and Argentina; Brazil teetered on the brink. By early 2001, Silicon Valley, the pride of the U. S. economy, was crashing, while entire sectors of the so-called New Economy disintegrated.  The tech wreck may be over, but it has left a legacy of low prices. Tech companies had to dump on the market everything from fiberoptic networks to computer chips, as desperate investors struggled to raise cash. That slashed telecommunication costs at the very moment that emerging markets were producing a skilled and hungry generation of information workers. Result? The offshore outsourcing revolution and downward pressure on global production costs that keeps inflation under control. Equally powerful are the ultra-low-cost emerging-market manufacturing bases, led by China. With more than 1 billion people set to enter the urban labor markets of China, India, Brazil and Indonesia in the next 20 years, all those pressures on prices will only intensify.  More immediate forces are also at work to keep prices from surging. Despite some wishful thinking, growth in Europe is slowing, not accelerating. A large part of U. S. growth has been driven by booming real estate prices. But in the past two years, the Fed has increased rates 16 times, so real estate-driven consumption is yesterday’s news. Tomorrow’s story will be the sharp fall in U. S. growth as consumers face higher mortgage costs. That dynamic could become particularly nasty, given the record level of U. S. household debt, government deficit and unequaled current-account shortfall.  Investors are often caught flat-footed when markets slide. In 2001-02, deflation was the fear of the day, but few investors at the time saw the opportunity in commodities, which were going for a fraction of today’s prices. Today investors are obsessed with inflation, while government and top- tier corporate bonds are shunned.  That should be telling us something. What is it? In the past few years, the central banks of Japan, the U. S. and Europe have cut interest rates so aggressively that the real cost of borrowing fell to, effectively, below zero. That spurred extraordinary amounts of debt financing by governments and corporations. But now, as the global credit cycle tightens, some of the marginal investments will quickly become unsustainable. If central bankers keep raising interest rates, deeper cracks would open in the world economy.  What is really troubling markets is not inflation. It is the fear that central banks may have tightened too much, and will tighten further. If that happens, the recent market shock would be merely the precursor to a still more dramatic quake.  1. What is the situation of the world financial markets recently? What is the situation expected to be in the near future?  2. What does the author mean by “the tech wreck may be over, but it has left a legacy of low prices”? (Para.4)  3. What is the relationship between real estate market and economic growth in US in the past and in the near future?  4. According to the author, what are the “powerful forces” that can keep inflation “largely in check”?
参考答案和解析
正确答案: 【参考答案】
1. Over the past weeks, stock markets around the world are a little bit depressed. Dow Jones Industrial Average has lost all the gaining it earned so far. Japan’s stock market is down 11% on the year. The price of gold has dropped in the largest scale in 15 years. Many emerging markets are not stable. Since central bankers around world will continue to raise interest rates higher, people generally believe that the financial markets will continued to be depressed (“bear markets”) in the near future.
2. In early 2001, Silicon Valley, the US center of high technology, suffered a great depression. Now the depression is over, but its fallouts continue to drive prices down. Tech companies have to dump on the markets high tech equipments at very low prices, as investors want to get cash. The outsourcing revolution has exerted downward pressure on global production costs. Also, the large labor forces in ultra-low-cost emerging-market manufacturing bases, like China, are intensifying pressures on prices.
3. In the past, a large part of US growth has been driven by booming real estate prices. But in the past two years, interest rates have been raised 16 times. Since consumers now face higher mortgage costs, the US economic growth is expected to fall sharply.
4. US consumer prices climbed faster than expected in May, but powerful forces in the world economy can keep inflation largely in check. The prices of high tech equipment will continue to fall, because Tech companies are dumping products on the market, and outsourcing revolution exerts downward pressure on global production costs. Growth in Europe is slowing, not accelerating. The US growth is expected to fall sharply because the higher mortgage costs following the rises of interest rates have discouraged consumers away from real estate markets.
解析: 暂无解析
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相似问题和答案

第1题:

E

A rainforest is an area covered by tall trees with the total high rainfall spreading quite equally through the year and the temperature rarely dipping below l6℃.Rainforests have a great effect on the world environment because they can take in heat from the sun and adjust the climate.Without the forest cover,these areas would reflect more heat into the atmosphere,warming the rest of the world. Losing the rainforests may also influence wind and rainfall patterns,potentially causing certain natural disasters all over the world.

In the past hundred years,humans have begun destroying rainforests in search of three major resources(资源):land for crops,wood for paper and other products,land for raising farm animals.This action affects the environment as a whole.For example,a lot of carbon dioxide (二氧化碳)in the air comes from burning the rainforests.People obviously have a need for the resources we gain from cutting trees but we will suffer much more than we will benefit.

There are two main reasons for this.Firstly,when people cut down trees,generally they can only use the land for a year or two.Secondly,cutting large sections of rainforests may provide a good supply of wood right now,but in the long run it actually reduces the world’s wood supply.

Rainforests are often called the world’s drug store.More than 25% of the medicines we use today come from plants in rainforests.However,fewer than l%of rainforest plants have been examined for their medical value.It is extremely likely that our best chance to cure diseases lies somewhere in the world’s shrinking rainforests.

72.Rainforests can help to adjust the climate because they .

A.reflect more heat into the atmosphere

B.bring about high rainfall throughout the world

C.rarely cause the temperature to drop lower than l6℃

D.reduce the effect of heat from the sun on the earth


正确答案:D

第2题:

EXTENDED FAMILY In an extended family, all the people share one household. Apart from parents and children, there may be other family members grandparents, aunts, uncles, cousins, etc. That is to say, a large family may have more than two generations, and often there are more than two adults from different generations of a family. The family members live together for many reasons. They may help to bring up children or to take care of an ill relative. They may also help with saving money. Sometimes children are brought up by their grandparents, for their parents have died or can never take care of them. Many grandparents look after the children,particularly when both parents are busy working. This large family is called extended family. It can be found all over the world. The number of these families has increased by 40 percent in the past ten years. Most of such families live happily together.

1. In an extended family, people live in different houses.()

2. An extend family includes at least three generations.()

3.In an extended family, children are looked after by their grandparents because their parents are traveling around.()

4. Extended families can be found all over the world.()

5. Children can live happily with their parents and grandparents.()


参考答案:1:F; 2:T; 3:F; 4:T; 5:T

第3题:

The advantages and disadvantages of a large population have long been a subject of discussion among economists. It has been argued that the supply of good land is limited. To feed a large population, poor land must be cultivated and the good land worked intensively. Thus, each person produces less and this means a lower average income than could be obtained with a smaller population. Other economists have argued that a large population gives more chance of development of facilities such as ports, roads and railways, which are not likely to be built unless there is a big demand.

One of the difficulties in carrying out a worldwide birth control program lies in the fact that of ficial attitudes to population growth vary from country to country depending on the level of industrial development and the availability of food and raw materials. In the developing country where a vastly expanded population is pressing hard upon the limits of food, space and natural resources, the first concern of government will be to set a limit on the birthrate, whatever the final result may be. In a highly industrialized society the problem may be more complex. A decreasing birth rate may lead to unemployment because it results in a declining market for manufactured goods.

When the pressure of population on housing declines, prices also decline and building industry grow weaker. Faced with concern such as these, the government of a developed country may well prefer to see a slowly increasing population, rather than one which is stable or in decline.

(1)The main topic of this article is _____________.

A、environment protection

B、population growth

C、environment and economy

D、climate changing

(2) The passage says that a small population may lead to _____________.

A、higher production, but a lower average income

B、lower production and lower average income

C、higher production and a higher average income

D、lower production, but a higher average income

(3) According to the passage, the use of birth control perhaps is good for_____________.

A、a developing country

B、a developed country

C、the whole world

D、each nation with a big population

(4) In a developed country, people will perhaps be unemployed if the birthrate _____________.

A、goes up

B、goes down

C、remains stable

D、is out of control

(5) The author is aiming to show that_____________.

A、humans will run out of their food supply in the future

B、it is necessary for humans to carry out a worldwide plan for birth control

C、different nations have different views of population growth

D、we need to take necessary measures to prevent the overuse of natural resources.


参考答案:BCABC

第4题:

共用题干
Lakes,Too,Feel Global Warming

There's no doubt:In the last few decades,the average temperature on Earth has been higher than it has
been in hundreds of years.Around the world,people are starting to measure the effects of global warming一
and trying to figure out what to do about it.
Scientists recently used satellites to study the temperatures of lakes around the world,and they found
that lakes are heating up.Between 1985 and 2009,satellites recorded the nighttime temperatures of the sur-
faces of 167 lakes.During those 24 years,the lakes got warmer by an average of about 0.045 degree
Celsius per year.
In some places,lakes have been warming by as much as 0.10 degree Celsius per year. At that rate,a
lake may warm by a full degree Celsius in just 10 years.That difference may seem small一you might not
even notice it in your bath.But in a lake,slightly warmer temperatures could mean more algae(水藻),and
algae can make the lake poisonous to fish.
The study shows that in some regions,lakes are warming faster than the air around them.This is impor-
tant because scientists often use measurements of air temperature to study how Earth is warming. By using
lake temperatures as well,scientists can get a better picture of global warming. The scientists say data on
lakes give scientists a new way to measure the impact of climate change around the world.
That's going to be useful,since no country is too big or too small to ignore climate change.Scientists
aren't the only ones concerned.Everyone who lives on Earth is going to be affected by the rapid warming of
the planet. Many world leaders believe we might be able to do something about it,especially by reducing the
amount of greenhouse(温室)gases we put into the air.
That's why the United Nations started the Framework Convention on Climate Change,or UNFCCC.
Every year the convention meets,and representatives from countries around the world gather to talk about
climate change and discuss global solutions to the challenges of a warming world.

Lakes seem to be warming faster in Asia.
A:Right
B:Wrong
C:Not mentioned

答案:C
解析:
由第二段可知,科学家从1985年开始记录湖水温度的,到现在还不到30年。
由第二段最后一句话可知,此判断正确。
湖水在亚洲温暖的快在文中没有信息依据。
由第三段最后一句话可知,此判断正确。
由第四段第二句话可知,科学家经常用空气温度来研究地球变暖的问题,说明他们关 注的主要焦点在于空气温度。
由第五段的内容可知,地球上的任何人都应关心全球变暖的问题。
在文中没有提及今年的UNFCCC在哪举行。第3部分:概括大意与完成句子

第5题:

The most encouraging fact about the US economy is that_____ .

[A]employment rates have risen faster than expected

[B]the Federal Reserve will raise interest rates soon

[C]industrial production is reaching its lowest point

[D]some economic sectors have become leading industries


正确答案:C

本题考查了多处事实细节。第三段第二句提到,惟一的好消息是申请失业保险金人数在9·11事件后达到的高峰期开始回落,现在的水平表明失业的速度(the pace of layoffs)有所缓和(easing)。该句表明失业者还在增加,只是增加的速度低于先前。因此,[A]项与文意相反。[B]项与第四段首句“经济复苏并不意味着美联储将很快提高利率”含义相反。第五段首句是段落主题句:最近的经济报道中最好的消息来自1月份工业生产的数据。末句对主题予以说明:数据表明工业生产部门的产量正在达到底线,复苏即将开始。[C]项是对该句的改写,是正确选项。文中虽然提到很多经济部门,但没有比较谁是主导产业,排除[D]项。

第6题:

expected and will be out of hospital /\a few weeks


正确答案:
85.in/with

第7题:

【T1】

A.SEEK

B.LOOKED

C.PART A.TAKING【T1】______IN DANGEROUS SPORTS AND ACTIVITIES

B.WHO HAVE【T2】______FOR ADVENTURE

C.WHO【T3】______AN IMMEDIATE EXCITEMENT FROM A RISKY ACTIVITY AROUND THE WORLD MORE AND MORE PEOPLE ARE【T4】______.OF COURSE, THERE HAVE ALWAYS BEEN PEOPLE【T5】______—THOSE WHO HAVE CLIMBED THE HIGHEST MOUNTAINS, EXPLORED UNKNOWN PARTS OF THE WORLD OR SAILED IN SMALL BOATS ACROSS THE GREATEST OCEANS.NOW, HOWEVER, THERE ARE PEOPLE【T6】_______ WHICH MAY ONLY LAST A FEW MINUTES OR EVEN SECONDS.


正确答案:part
takepartin为固定短语,意为“参加,参与”。

第8题:

Text 2We’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.

第26题:The investors’ judgment of the present stock returns seems to be _____.

[A] fanciful

[B] pessimistic

[C] groundless

[D] realistic


正确答案:A

 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%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 ofrealistic 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。

第9题:

It can be inferred from the passage that early historians of women’s labor in the United States paid little attention to women’s employment in the service sector of the economy because________.

A.fewer women found employment in the service sector than in factory work

B.the wages paid to workers in the service sector were much lower than those paid in the industrial sector

C.women’s employment in the service sector tended to be much more short—term than in factory work

D.employment in the service sector seemed to have much in common with the unpaid work associated with homemaking


正确答案:D
本题和上题的根据同出一处,根据上题答案,选项D正确,服务行业之所以所以少受早期历史学家关注,是因为它看上去和妇女无报酬的家务劳动太相像。

第10题:

Passage 1
Earlier this year, when America first sneezed, the European Central Bank (along with most private-sector economists) argued that the euro area was insulated from America's slowdown and had little to worry about. This seems to have wrong. In Germany there are fears about recession as business investment and retail sales tumble. Recent figures confirmed that Germany’s GDP stagnated in the second quarter. Italy's GDP fell in the second quarter, and although growth has held up better in France and Spain, the growth in the euro area as a whole was close to zero in the quarter. Nobody is forecasting an actual recession in the euro area this year, but it is no longer expected to provide an engine for world growth.
As for Japan, it is probably already in recession. Japan's GDP grew slightly in the first quarter. Persistent deflation continues to be a severe problem. A revised measure of Japan’s consumer-price index, to be published soon, is likely to show that deflation is worse than had been thought.

The best title for the passage is ___.

A. The world economic situation.
B. The world economic recession.
C. The worse world economic situation.
D. The reason for world economic recession.

答案:B
解析:

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