首页
登录
学历类
Text 4 The Big Mac index is built on the
Text 4 The Big Mac index is built on the
考试题库
2022-08-02
13
问题
Text 4 The Big Mac index is built on the idea of purchasing-power parity,the theory that in the long run currencies will converge until the same amount of money buys the same amount of goods and services in every country.A Big Mac cunently costs$5.06 in America but just 10.75 lira($2.75)in Turkey,implying that the lira is undenalued.However,ot:her currencies are even cheaper.In Big Mac tenns,the Mexican peso is underval-ued by 55.9%against the greenback.Last week it also hit a record low as Mr Trump restated some of his campaign threats against Mexico.The peso has lost a tenth of iLs value against the dollar since November.Of big countries,only Russia offers a cheaper Big Mac,in dollar terms,even though the rouble has strengthened over the past year.The euro zone is also prey to political uncerLainty.Elections are scheduled this year in the Netherlands,France and Germany,and possible in Italy.The euro recently fell to its lowest level since 2003.Britain's Brexit vote has had an even bigger effect on the pound,which has fallen to$1.21,a 31-year low.According to the Big Mac index,the euro and the pound are undervalued against the dollar by 19.7%and 26.3%,respectively.One of the drawbacks of the Big Mac index is that it takes no account of labour costs.It should surprise no one that a Big Mac costs less in Shanghai than it does in San Francisco,since Chinese workers eam far less than their American counterparts.So in a slightly more sophisticated version of the Big Mac index,we take account of a country's average income.Hisiorically,this adjustment has tended to raise currencies'valuations against the dollar,so emerging-market currencies tend to look more reasonably priced.The Chinese yuan,for example,is 44%undervalued against the doUar according to our baseline Big Mac index,but only 7%according to the adjusted one.The deluxe Big Mac index has typically made rich-world currencies look more expensive.Because western Europeans have higher costs of Iiving and lower incomes than Americans,the euro has traded at around a 25%premium against the dollar in income-adjusted burger terms since Lhe euro's inception.But what once seemed to be a constant truth of burgemomics is true no longer.So strong is the dollar Lhat even the adjusted Big Mac index finds the euro undenalued.The dollar is now Uading at a 14-year high in trade-weighted terms.Emerging-world economies may struggle to pay off dollar denominated debts.American firms may find themselves at a disadvantage agzunst foreign competition.And American tourists will get more burgers for their buck in Europe.Which of the following is the best iitle for the text?A.Big Mac Index:Lhe Undervalued CurrenciesB.Big Mac Index:Lhe Underestimated DoIJarsC.Big Mac Index:the Declining EconomiesD.Big Mac Index:Dollars VS Euros
选项
A.Big Mac Index:Lhe Undervalued Currencies
B.Big Mac Index:Lhe Underestimated DoIJars
C.Big Mac Index:the Declining Economies
D.Big Mac Index:Dollars VS Euros
答案
A
解析
主旨题。[A]Big Mac Index:the Undervalued Currencies“巨无霸指数:被低估的货币”;[B]Big Mac Index:the Underestimated Dollars“巨无霸指数:被低估的美元”;[C]Big Mac Index:the Declining Economies“巨无霸指数:衰退的经济”;[D]Big Mac Index:DoUars VS Euros“巨无霸指数:美元对欧元”。文章首段尾句提到the lira is undervalued;第二段首句提到However,other currencies are even cheaper.In Big Mac terms,the Mexican peso is undervalued...下文反复提到各种货币价值被低估,故[A]项符合文章主旨大意。[B]错在underestimated dollars,文章讨论各种货币价值被低估,而美元很强势;[C]错在declining economies.文章强调货币价值被低估,而不是经济衰退;[D]过于片面,文章第三段、第五段和第六段都提到欧元与美元的比较,因此该项可以排除。综上,本题答案为[A]。
转载请注明原文地址:https://tihaiku.com/xueli/2700422.html
本试题收录于:
英语二研究生题库研究生入学分类
英语二研究生
研究生入学
相关试题推荐
某便利店第一天售出50种商品,第二天45种,第三天60种,前两天有25种商品相同
论证有效性分析:分析下述论证中存在的缺陷和漏洞,选择若干要点,写一篇600字左右
某俱乐部共有甲、乙、丙、丁、戊、己、庚、辛、壬、癸10名职业运动员,来自5个不同
甲、乙两人相距330千米,他们驾车同时出发,经过2小时相遇,甲继续行驶2小时24
为这一步登品传统文化,有专家提议将每年的2月1日、3月1日、4月1日9月1日、1
现有甲、乙两种浓度酒精,已知用10升甲酒精和12升乙酒精可以配成浓度为70%的酒
研究人员招募了300名体重超标的男性,将其分成餐前锻炼组和餐后锻炼组,进行每周三
王、陆、田3人拟到甲、乙、丙、丁、戊、己6个景点结伴游览。关于游览的顺序,3人意
某企业董事会就建立健全企业管理制度与提高企业经济效益进行研讨。在研讨中,与会者发
剧团拟将历史故事“鸿门宴”搬上舞台,该剧有项王、沛公、项伯、张良、项庄、樊哙、范
随机试题
TrustMe,I’maRobot[A]Withrobotsnowemergingfromt
A. B. C. D.
E1载波的数据速率是(本题),E3载波的数据速率是(下题)A.64kb/s
老年男性,1h前被毒蛇咬伤,伤口经过简单处理被送往医院,目前最重要的处理措施是A
短期贷款报审材料中,借款用途证明文件主要包括( )。A.原辅材料采购合同 B
常规性问题和创造性问题是绝对的,不可因人而异。()
关于弹性福利计划的说法,错误的是( )。A.弹性福利计划能够让员工选择最适合他
下列有关货币单元抽样的说法中,正确的有()。A.货币单元抽样是一种运用属性抽样
因追加投资导致金融资产转换为非同一控制下的企业合并(不构成一揽子交易),原确认的
属于高血压性脑出血手术适应证的是( )。A.颞叶血肿大于30ml B.脑桥出
最新回复
(
0
)