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Many economists believe that a 很多经济学家相信,美国高企业储 high rate of business savings in the 蓄率是投资的必要先兆,因为企业 United States is a necessaryprecursor 积蓄与个人积蓄不同,几乎包含了Line toinvestment, becausebusiness sav- 国家储蓄率的4分之3,而国家储 (5) ings, as opposed to personal savings, 蓄率极大影响商业投资的整体比率 comprisealmost three-quarters of the nationalsavings rate, and the national savingsrate heavily influences the overallrate of business investment. (10) These economists further postulate 这些经济学家进一步假定真实利率 thatreal interest rates—the difference -贷率与通胀率之差-在国家储蓄超 betweenthe rates charged by lenders 过商业投资(造成储蓄过剩)的情况 andthe inflation rates—will be low when 下会较低,反之较高。 nationalsavings exceed business (15) investment (creating a savings surplus), andhigh when national savings fall belowthe level of business investment (creatinga savings deficit ). However, 然而,在1960’ s,真实利率在国家during the 1960’s real interest rates 储蓄过剩的情况下经常较高。 (20) wereoften higher when the national savingssurplus was large. Counter- 相反的情况同样发生,从1980到 intuitive behavior also occurred when 1982年,虽然国家储蓄与投资大 realinterest rates skyrocketed from 体持平,真实利率从2%飙升至7% 2percent in 1980 to 7 percent in 1982, (25) even though national savings and investmentswere roughly equal throughoutthe period. Clearly, real 很明显,真实利率并非受储蓄/投资 interestrates respond to influences 关系的影响。 otherthan the savings/investment (30) nexus. Indeed,real interest rates may 确实,真实利率可能本身就影响储 themselvesinfluence swings in the 蓄和投资率的波动。 savingsand investment rates. As real 当真实利率在1979年后猛升,外 interest rates shot up after 1979, for- 国投资者向美国灌输资金,国内 eigninvestors poured capital into the 商品价格在国外升得可怕,而国内 (35) United States , the price ofdomestic 的外国商品价格变得更低。goodsincreased prohibitively abroad, andthe price of foreign-made goods becamelower in the United States . As 结果,国内经济活动与企业储蓄 a result, domestic economicactivity 投资能力受到限制。 (40) and the ability of businesses to save andinvest were restrained. 新老观点 Many economists believe that business savings is anecessary because…. These economists further postulated…. However, 1960, real interest rate….. behavioralso… indeed…. As a result….. -------------------------------------------------------------------------------- GWD-12-Q35: Thepassage is primarily concerned with A. contrasting trends in two historicalperiods B. presenting evidence thatcalls into question certain beliefs注意文章套路 C. explaining thereasons fora common phenomenon不准确 D. criticizingevidenceoffered in support of a well-respected belief E. comparingconflicting interpretations of a theory -------------------------------------------------------------------------------- GWD-12-Q36: According to the passage, which of the following resulted from foreign investment in the United States after 1979? A. An increase in realinterest rates B. A decrease in the savingsrate of certain other nations C. An increase in Americaninvestment abroad D. An increase in the price of American goods abroad As real interest rates shot upafter 1979, foreign investors poured capital into the United States
, the price of domesticgoods increased prohibitively abroad,and the price of foreign-made goodsbecame lowerin the United States . E. A decrease in the priceof domestic goods sold at home -------------------------------------------------------------------------------- GWD-12-Q37: Theauthor of the passage would be most likely to agree with which of thefollowing statements regarding the economists mentioned in line 1?
Their beliefs are contradicted by certain economic phenomena that occurred in the United States during the 1960’ s and the 1980’ s.注意文章套路,作者观点 Their theory fails to predict under what circumstances the prices of foreign and domestic goods are likely to increase. They incorrectly identify the factors other than savings and investment rates that affect real interest rates. Their belief is valid only for the United States economy and not necessarily for other national economies. They overestimate the impact of the real interest rate on the national savings and investment rates. |
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