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  3. In the market’s eyes, the latest round of consumer-spending news was good. I

In the market’s eyes, the latest round of consumer-spending news was good. I

游客2023-08-22  55
问题     In the market’s eyes, the latest round of consumer-spending news was good. It was so good that the stocks had another bubbling day yesterday. The Commerce Department said that retail sales have risen by 1.2 percent in April. Particularly given a weak job market, it is really a bigger jump than had ever been expected. The consumer is not capitulating, as one retail analyst has once declared.
    Yes, but why is the reason for that? Questions like this are very difficult to answer, of course. In order to get an explanation, you would have to ask an expert. Then a couple of experts appeared suddenly on the Marketplace, the public-radio show last night to shed light on the mystery of the non-capitulating consumer. I am a semi-regular listener to Marketplace, which generally is an enjoyable show. But even the most thoughtful financial journalism will end up turning to the experts sometimes. What are we supposed to learn from them?
    Last night we learned that the consumers are buying value, according to retail-trends analyst Kurt Barnard. This is why Wal-mart and J.C. Penney had the positive results to report yesterday — because, Bernard noted, these days, consumers are looking for low prices. Fair enough. On the other hand, another firm reporting good numbers was Tiffany’s, which said its net income was up by more than 6 percent, partly on the strength of greater sales volume. Sometimes, Barnard explained, low price can be replaced by the value that is attached to a wonderful name such as Tiffany’s.
    I see. So consumers like things that are either very cheap or very expensive, but, you know, worth it. Now there’s a fresh insight. It would certainly explain why the retail chain Everything’s Overpriced is under great pressure these days.
    Anyway, as if all this was not illuminating enough, another expert stepped into the spotlight: Ken Goldstein, an economist with the Conference Board. According to Goldstein, "People with money to spend and a willingness to spend tend to spend money."
    Isn’t that fantastic? Don’t you feel smarter now that the mystery of consumer spending has finally been clarified for you? This sophisticated analysis might even apply in other areas. People with food to eat and a willingness to eat tend to eat. People with time to waste and a willingness to waste time tend to waste time. Really makes you think, doesn’t it?
    Actually I guess, maybe it doesn’t. [br] The probable meaning of the word "capitulating" in Paragraph One is_____.
选项 A、being extravagant
B、being thrift
C、being submissive
D、being shrewd
答案 B
解析
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