英语100篇精读荟萃（中级篇）21a

时间：2007-09-17 06:47:05

（单词翻译:单击）

Passage Twenty-one (The Result of the Falling US Dollar)
Like a ticking time bomb, the falling dollar has grabbed the attention of Japan and West Germany, forcing them to consider adopting economic polices the United States advocates. The U.S. government wants the dollar to fall because as the dollar declines in value against the yen1 and Deutsche mark, U.S. good becomes cheaper. U.S. companies then sell more at home and abroad, and U.S. trade deficit2 declines. Cries for trade protection abate3, and the global free-trade system is preserved.
Then, the cheaper dollar makes it cheaper for many foreign investors5 to snap up U.S. stocks. That prompts heavy buying from abroad-especially from Japan. Also, if the trade picture is improving, that means U.S. companies eventually will be more competitive. Consequently, many investors are buying shares of export-oriented U.S. companies in anticipation6 of better profits in the next year or so. But that is a rather faddish7 notion right now; if corporate8 earnings9 are disappointing in interest rates, the stock market rally could stall.
Improving U.S. competitiveness means a decline in another’s competitiveness.
Japan and West Germany are verging10 on recession. Their export-oriented economies are facing major problems. Japan is worried about the damage the strong yen will do to Japanese trade. West Germany is also worried. Share prices in Frankfurt plummeted11 this past week. Bonn is thought to be considering a cut in interest rates to boost its economy.
Could the falling dollar get out of hand? If the dollar falls too far, investors might lose confidence in U.S. investments-especially the government bond market. The money to finance the federal budget and trade deficits12 could migrate elsewhere. Inflation could flare13 up, too, since Japanese and German manufacturers will eventually pass along price hikes-and U.S. companies might follow suit to increase their profit margins14. The U.S. federal Reserve then might need to step in and stabilize15 the dollar by raising interest rates. And higher interest rates could cause the U.S. economy to slow down and end the Wall Street Rally.
Worried about these side effects, Federal Reserve chairman Paul Volcher has said the dollar has fallen far enough. What is the equilibrium16 level? Probably near where it is or slightly lower. It all depends on when the U.S. trade deficit turns around or if investors defect from U.S. Treasury17 Bonds. “It requires a good deal of political patience on the part of the U.S. Congress,” says Dr. Cline, “And there must be an expectation of patience on the part of private investors. The chance are relatively18 good that we will avoid an investor4 break or panic.”

1.    What is the main idea of this passage?
[A]. The impression of the falling U.S. dollar.
[B]. The result of the U.S. falling dollar.
[C]. The side effect of U.S. falling dollar.
[D]. Japan and West Germany are worried about U.S. falling dollar.
2.    What does the word “rally” mean.
[A]. prosperity. [B]. decline. [C]. richness. [D]. import.
3.    Why are Japan and West Germany worried about the falling dollar?
[A]. Because the falling dollar may cause inflation in their countries.
[B]. Because it may force them to sell a lot of U.S, stocks.
[C]. Because it may do damage to their trade.
[D]. Because it may make Japanese company less competitive.
4.    If dollar-falling got out of hand, and the U.S. Federal Reserve might step in , what would happen?
[A]. The prosperity of the U.S. economy would disappear.
[B]. The U.S. economy might face serious problems.
[C]. Investors might lose confidence in U.S. investments.
[D].Inflation could flare up.

Vocabulary
1.    ticking 滴答作响的
2.    grab 抓住
3.    abate 减弱
4.    snap up 争购，5.    抢购
6.    heavy buying 大量买进
7.    export-oriented 以出口为方向的
8.    in anticipation of 期待，9.    预期
10.    faddish 一时流行的
11.    spree 无节制的疯狂行为
12.    buying spree 狂购乱买
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1 yen JfSwN     
n. 日元；热望
参考例句：
  • He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
  • He has a yen to be alone in a boat.他渴望独自呆在一条船上。
2 deficit tmAzu     
n.亏空，亏损；赤字，逆差
参考例句：
  • The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
  • We have a great deficit this year.我们今年有很大亏损。
3 abate SoAyj     
vi.(风势，疼痛等)减弱，减轻，减退
参考例句：
  • We must abate the noise pollution in our city.我们必须消除我们城里的噪音污染。
  • The doctor gave him some medicine to abate the powerful pain.医生给了他一些药，以减弱那剧烈的疼痛。
4 investor aq4zNm     
n.投资者，投资人
参考例句：
  • My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
  • The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。
5 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
6 anticipation iMTyh     
n.预期，预料，期望
参考例句：
  • We waited at the station in anticipation of her arrival.我们在车站等着，期待她的到来。
  • The animals grew restless as if in anticipation of an earthquake.各种动物都变得焦躁不安，像是感到了地震即将发生。
7 faddish TzSyk     
adj.好赶时髦的；一时流行的
参考例句：
  • We ate at a faddish new restaurant. 我们在一家新开张的时尚餐馆吃饭。 来自辞典例句
  • Dial get online to say, begin since thenceforth faddish. 拨号上网一说，从那时起开始风行。 来自互联网
8 corporate 7olzl     
adj.共同的，全体的；公司的，企业的
参考例句：
  • This is our corporate responsibility.这是我们共同的责任。
  • His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
9 earnings rrWxJ     
n.工资收人；利润，利益，所得
参考例句：
  • That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
  • Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。
10 verging 3f5e65b3ccba8e50272f9babca07d5a7     
接近，逼近（verge的现在分词形式）
参考例句：
  • He vowed understanding, verging on sympathy, for our approach. 他宣称对我们提出的做法很理解，而且近乎同情。
  • He's verging on 80 now and needs constant attention. 他已近80岁，需要侍候左右。
11 plummeted 404bf193ceb01b9d9a620431e6efc540     
v.垂直落下，骤然跌落( plummet的过去式和过去分词 )
参考例句：
  • Share prices plummeted to an all-time low. 股票价格暴跌到历史最低点。
  • A plane plummeted to earth. 一架飞机一头栽向地面。 来自《简明英汉词典》
12 deficits 08e04c986818dbc337627eabec5b794e     
n.不足额( deficit的名词复数 )；赤字；亏空；亏损
参考例句：
  • The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
  • Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句
13 flare LgQz9     
v.闪耀，闪烁；n.潮红；突发
参考例句：
  • The match gave a flare.火柴发出闪光。
  • You need not flare up merely because I mentioned your work.你大可不必因为我提到你的工作就动怒。
14 margins 18cef75be8bf936fbf6be827537c8585     
边( margin的名词复数 )； 利润； 页边空白； 差数
参考例句：
  • They have always had to make do with relatively small profit margins. 他们不得不经常设法应付较少的利润额。
  • To create more space between the navigation items, add left and right margins to the links. 在每个项目间留更多的空隙，加左或者右的margins来定义链接。
15 stabilize PvuwZ     
vt.（使）稳定，使稳固，使稳定平衡；vi.稳定
参考例句：
  • They are eager to stabilize currencies.他们急于稳定货币。
  • His blood pressure tended to stabilize.他的血压趋向稳定。
16 equilibrium jiazs     
n.平衡，均衡，相称，均势，平静
参考例句：
  • Change in the world around us disturbs our inner equilibrium.我们周围世界的变化扰乱了我们内心的平静。
  • This is best expressed in the form of an equilibrium constant.这最好用平衡常数的形式来表示。
17 treasury 7GeyP     
n.宝库；国库，金库；文库
参考例句：
  • The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
  • This book is a treasury of useful information.这本书是有价值的信息宝库。
18 relatively bkqzS3     
adv.比较...地，相对地
参考例句：
  • The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
  • The operation was relatively painless.手术相对来说不痛。

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