M: It is my honor, Miss Scott.
W: So, what do you think of sales figures?
M: Well, sales figures are very important indicators often used as evidence of the general health of the economy. In a recession, any rise in high street sales is usually quoted by government ministers as evidence of the increase in consumer confidence that is the first step on the road back to economic growth.
W: Really?
M: Yes. In free market terms, sales figures reflect the state of local market forces at any one place and at any one time. They show the amount of a product that the public wants to buy at the current price.
W: I see.
M: To a large extent, this is true. At times of falling sales, high street shops are forced to reduce prices-with out-of-season sales, special offers and even “closing down” sales. Newspapers are full of advertisements for special offers on consumer durables, cars, for example, or computers and video recorders.
W: Then what is the reason of price reduction for these goods?
M: The reason why these goods become the ones that are most frequently discounted in times of recession is that they are the most expensive in terms of their opportunity cost. Opportunity cost is their relative value to buyers compared to the value of alternative goods and services on which they may want to spend that same amount of money. If you have the money, you can buy a CD player or go on a short holiday, but you cannot do both.
W: Interesting.
M: Even more important, perhaps, is the consumer's fear of his or her personal future. In recessions come job losses, with job losses comes an increased reluctance to spend. It is expensive luxuries such as videos that are the first items to be cut from household budgets. People feel the need to save against the possible future loss of income. In recessions, a greater proportion of the public's income is saved than in times of economic growth.
W: That is true. Then this must exert some effect on manufacturers?.
M: Certainly. The effect of all this on manufacturers can easily be seen. Falling sales lead to production cut-backs. This results in the under-capacity of plant and machinery. Since fixed overheads remain basically the same, other ways of cutting back on costs and thus of reducing prices have to be found. Almost always, this is achieved through cutting back on jobs.
W: So, many people will lose their jobs.
M: Yes, but therein lies the problem. Although, for a manufacturer, cutting back on the workforce is a relatively simple short-term solution it is not necessarily the best long-term strategy. In certain key industries, skilled labor is hard to find and keep. The job market can fluctuate as erratically as the consumer market.
W: What do manufacturers usually choose to do accordingly?
M: Manufacturers, therefore, tend to wait longer before they lay off any staff than they would do if they were obeying market forces. In order to keep these workers fully occupied, companies may have to depress prices artificially to a point lower than that demanded by prevailing market forces, merely in order to maintain production levels. It is almost certainly true, therefore, that there are forces at work at the time when an economy is entering a recession that distort the real value of sales figures. It may also be true that, on the way out of a recession, or in a boom period, the competition for scare labor has the same distorting effect.
W: Thank you very much, Mr. Hall.
•You will hear a radio interview between a woman and a man about sales in recession. They have discussed in detail the significance of sales figures in recession.
•For each question (23-30), mark one letter A, B or C for the correct answer.
•After you have listened once, replay the recording.
The interview is conducted to discu
A. their effect on manufacturers.
B. the importance of reducing prices for manufacturers in recession.
C. the way to keep skilled workers in a recession.
听力原文:As I walked into this old haunted house, I heard this terrible scream and my blood ran cold when I saw this figure in white rushing straight at me.
What does the speaker mean?
A. He was nearly killed by someone.
B. He saw a ghost in the house.
C. He was scared out of his wits.
D. He saw a man rushing at him.
What do manufacturers tend to do before they take any action on the workforce in times of
A. They tend to lay off some workers with little skill immediately so as to reduce cost.
B. They are likely to keep all the employees as long as possible.
C. They tend to wait longer before they lay off any staff than they would do if they were obeying market forces.
?Read the article below about the central problem of Economics.
?Choose the best word to fill each gap, from A, B, C or D.
?For each question 19—33,mark one letter (A, B, C or D) on your Answer Sheet.
?There is an example at the beginning.
The Central Problem of Economics
The central problem of economics is to satisfy the people's and nation's wants.
The problem we are faced with is that our resources, here identified as money, are limited. The only way we can resolve our problem is to make choices. After looking at our resources, we must examine our list of (19) and identify the things we need immediately, those we can postpone, and (20) we cannot afford. As individuals, we face the central problem involved in economics deciding just how to allocate (分配) our limited resources to provide (21) with the greatest satisfaction of our wants. Nations face the same problem. As a country's population grows the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there (22) are enough re sources to satisfy the total desires of a nation. Whether the budget meeting is taking place in the family (23) room, in the conference room of the corporation (24) of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find methods of allocating limited resources in order to satisfy unlimited wants.
A short time ago economists (25) goods into two categories, free and economic. The former, like air and water, were in (26) abundance that economists had no concern for them. After all, economics is the (27) of scarcity (匮乏) and what to do about it. Today many of these "free goods" are (28) very expensive to use. Pollution has made clean air and water expensive for producers who have to filter their waste products, for consumers who ultimately (最终) (29) the producers' extra costs, and (30) taxpayers who pay for the government's involvement in cleaning the environment.
In the 1990s, almost all goods are (31) Only by effort and money can they be obtained in the form. people wish.
Meeting the needs of people and froming resources available (32) the basic activity of production. In trying to meet (33) wants from limited economic goods, production leads to new problems in economics.
(19)
A. want
B. problems
C. wants
D. resources