new prep1最后一篇，做的闷~

cannahere

The function of capital markets is to facilitate an exchange of
funds among all participants, and yet in practice we find that
certain participants are not on a par with others. Members of
society have varying degrees of market strength in terms of
information they bring to a transaction, as well as of purchasing
power and creditworthiness, as defined by lenders.

For example, within minority communities, capital markets do
not properly fulfill their functions; they do not provide access
to the aggregate flow of funds in the United States. The financial
system does not generate the credit or investment vehicles needed
for underwriting economic development in minority areas. The
problem underlying this dysfunction is found in a rationing
mechanism affecting both the available alternatives for investment
and the amount of financial resources. This creates a distributive
mechanism penalizing members of minority groups because of their
socioeconomic differences from others. The existing system
expresses definite socially based investment preferences that
result from the previous allocation of income and that influence
the allocation of resources for the present and future. The system
tends to increase the inequality of income distribution. And, in
the United States economy, a greater inequality of income
distribution leads to a greater concentration of capital in
certain types of investment.
           
 Most traditional financial-market analysis studies ignore
financial markets" deficiencies in allocation because of analysts"
inherent preferences for the simple model of perfect competition.
Conventional financial analysis pays limited attention to issues
of market structure and dynamics, relative costs of information,
and problems of income distribution. Market participants are
viewed as acting as entirely independent and homogeneous
individuals with perfect foresight about capital-market behavior.
Also, it is assumed that each individual in the community at large
has the same access to the market and the same opportunity to
transact and to express the preference appropriate to his or her
individual interest. Moreover, it is assumed that transaction
costs for various types of financial instruments (stocks, bonds,
etc.) are equally known and equally divided among all community
members.
             
1. According to the passage, analysts have conventionally tended to view those who participate in financial market as（这题定位在哪里？）
             (A) judging investment preferences in terms of the good of society as a whole
             (B) influencing the allocation of funds through prior ownership of  certain kinds of assets
             (C) varying in market power with respect to one another
             (D) basing judgments about future events mainly on chance
             (E) having equal opportunities to engage in transactions

2. According to the passage, a questionable assumption of the conventional theory about the operation of financial markets is that
             (A) creditworthiness as determined by lenders is a factor  determining market access
             (B) market structure and market dynamics depend on income  distribution
             (C) a scarcity of alternative sources of funds would result from taking socioeconomic factors into consideration
             (D) those who engage in financial-market transactions are  perfectly well informed about the market
             (E) inequalities in income distribution are increased by the functioning of the financial market

3. The passage states that traditional studies of the financial market overlook imbalances in the allocation of financial resources because （这题定位在哪里？）
             (A) an optimum allocation of resources is the final result of  competition among participants
             (B) those performing the studies choose an oversimplified  description of the influences on competition
             (C) such imbalances do not appear in the statistics usually  compiled to measure the market’s behavior
             (D) the analysts who study the market are unwilling to accept    criticism of their methods as biased
             (E) socioeconomic difference form the basis of a rationing   mechanism that puts minority groups at a disadvantage

4. A difference in which of the following would be an exampleof inequality in transaction costs as alluded to in highlighted text? (题目啥意思，怎么选。。)
             (A) Maximum amounts of loans extended by a bank to businesses in   different areas
             (B) Fees charged to large and small investors for purchasing   stocks
             (C) Prices of similar goods offered in large and small stores in  an area
             (D) Stipends paid to different attorneys for preparing legal suits for damages
             (E) Exchange rates in dollars for currencies of different   countries

cannahere

有莫牛人给讲解一下。。

bingzhujun

我也有问题，请牛人讲解 55， 56 题， 感谢

cc621josh

1. 同问，我选了E，D可能是在原文中"individuals with perfect foresight about capital-market behavior"定位，不确定。
2. D是对的，没有问题。
3. 定位在"because of analysts inherent preferences for the simple model of perfect competition"，完全竞争市场模型就是B中的oversimplified  description
4. 题目意思就是：下面哪个选项是文中高亮部分的举例印证。当然是B了，文中括号里即是举例stocks, bonds, etc. B提到了stocks，而其他选项都与文中高亮部分不相干。

mudiduange

顶，也有疑问，特别55

yakev6

确认了，55就是og11的141题，选E

cherrylmy

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