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Help: 第三组的OG47-281蒙对了, 可现在看不懂ETS的解释, 一直高不明白a questionable (可疑的, ) assumption是啥意思??? OG只是解释说 The author points out his assumption within the context of criticizing the conventional theory about financial markets. 这和 a questionable (可疑的, ) assumption (题目) 和答案 D perfectly well informed about the market 有什么联系呀???   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. ?*281. According to the passage, a questionable (可疑的, ) 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 假设中没提到,应在assume中找答案 (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
281. This question asks you to identify a claim about conventional financial-market theory that is made explicitly in the passage. The best answer is choice D. The author points out his assumption within the context of criticizing the conventional theory about financial markets. Choice A is not correct because creditworthiness is mentioned in the first paragraph of the passage, but not in the context of assumptions made in conventional theory. Choices B and E can be eliminated: with regard to the consideration of income distribution, the passage states only that conventional analysis tends to pay little attention to the topic. Choice C is incorrect because the passage does not mention any assumption on the part of conventional theory with regard to the consequence of considering socioeconomic factors.   |