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1、Section BDirections: In this section, you are going to read a passage with ten statements attached to it. Each statement contains information given in one of the paragraphs. Identify the paragraph from which the information is derived. You may choose a paragraph more than once. Each paragraph is mar

2、ked with a letter. Answer the questions by marking the corresponding letter on Answer Sheet 2.How the Shutdown Hammered the U. S. EconomyA) How much have the government shutdown and the default threat cost us? Before the latest congressional fierce debate over government spending, the U.S. federal d

3、eficit was shrinking and seemed to shrivel even more in the near future. As a percentage of the nations gross domestic product, the cash shortfall had dropped by half in the past two years, according to Standard&Poors senior credit analyst Marie Cavanaugh, who heads the ratings team in charge of ass

4、essing the U.S. credit rating.B) In other words, the United States was on track to slash its deficit and enjoy the spoils of its growing financial recoveryuntil the shutdown, which has socked(重击) the economy in the nose and soured investors confidence everywhere. “Earlier this year, we raised our ou

5、tlook for the U.S. from negative to stable based on the ability of Congress to negotiate its way out of the fiscal cliff, the nations strengthening economic recovery and the fact that the nations deficit had fallen by half of the 2011 level,” Cavanaugh told Newsweek just before Congress cobbled toge

6、ther (胡乱拼凑) a last-minute deal.C) Now the same ratings agency estimates that the government shutdown knocked $24 billion out of the U.S. economy in just two weeks. That is more than $1.5 billion a day. Essentially, the fighting over spending leaves America with less to spend. “The bottom line is the

7、 government shutdown hurt the U.S. economy,” stated S&Ps chief economist Beth Ann Bovino, on the heels of an eleventh-hour budget compromise that effectively delays key fiscal decisions until next year.D) “In September, we expected 3 percent annualized growth in the fourth quarter, because we though

8、t politicians would have learned from 2011 and taken steps to avoid things like a government shutdown and the possibility of a sovereign default.”(In 2011, consumer confidence hit a 31-year low; just this week a Gallup poll similarly showed investor confidence dropping to its lowest level in almost

9、two years. This is probably not a coincidence, as both polls took place during congressional standoffs.)E) S&P, which has been the only ratings agency to slash the nations top-flight credit rating (also in 2011), now expects this years fourth quarter GDP to be closer to 2 percent. That is, if the U.

10、S. is lucky. “With full expectations that consumer confidence will continue to decline suddenly amid the short turnaround for politicians to negotiate some sort of lasting deal,” Bovino predicts, “if people are afraid that the government policy brinkmanship (边缘政策) will resurface and, with it, the ri

11、sk of another shutdown or worse, theyll remain afraid to open up their checkbooks.”F) Cavanaugh says the agency estimates that for every week the government was shut down, roughly 0.3 percent of the nations GDP was destroyed. Not really a good thing for a country that, until recently, “was running o

12、ne of the highest deficits the world has seen since World War II,” according to Nikola Swann, Cavanaughs predecessor and the credit analyst who led the team that voted the U.S. credit rating down in 2011.G) Swann, who tracked U.S. fiscal health for some time, traces much of the trouble back to 2001,

13、 when the September 11 attacks led to a downturn in the nations economic growth and soaring spending in the lead-up to the war on terror. “The U.S. did begin to recover by 2007”, he says, “but then it was hit by the financial crisis. By 2009, the nations cash deficitthe annual gap between spending a

14、nd revenue as a percentage of its GDPhad swelled to 11 percent.”H) “Compare that to a surplus of 3 percent of GDP in 2000, at present, the cash deficit has eased to under 5 percent,” Cavanaugh says, “but remains at the high end.” “Remember, the Clinton administration benefitted from very high rates

15、of economic growth, real rates that were around 3 percent to 5 percent of GDP,” Swann says. “We increased spending but never got back to the high growth rates.”I) Bovino warns the U.S. still has much to lose if its fiscal game of chicken doesnt end. As the debt ceiling deadline neared, S&P was minut

16、es away from automatically demoting(使降级) Americas credit rating and tipping it into “selective default”. (The only other country to have “SD”status is Grenada.) Fitch, a ratings-agency competitor of S&P, already announced it was putting the U.S. on “credit rating watch negative”, citing a lack of “t

17、imely”action by Congress to pass a budget.J) Like a troubled teenager, America is repeatedly self-harming. “It is simply not a characteristic of the most highly rated sovereigns that you have to worry about them not paying their debts,” said John Chambers, global head of S&Ps sovereign ratings commi

18、ttee and a member of the team that marked down Americas debt rating in 2011, from AAA to AA+. He notes that no nation has ever defaulted for such a ridiculous reasonpolitical games of mutually assured destruction. “It is unheard of in a cohesive civil society, making it all the more puzzling and pat

19、hetic that we have these tricks over spending that has already been approved by Congress.”K) When Standard&Poors, which monitors and ranks the credit of 127 countries, slashed the sovereign debt rating of the United States during the 2011 debt-ceiling war, cries of “unpatriotic” and “anti-American”

20、echoed up Wall Street. “We knew what we were doing, that it was a historic decision,” says Swann. “The volume of calls coming in was more than we could sort through on our own. We were there until late Friday, doing interviews, investor calls, and teleconferences, all through the weekend and the res

21、t of the following week.”L) The hue and cry was no surprise. After all, nothing less than the worlds global reserve currency was at stake. The U.S. ratingalongside that of France, Austria and the Isle of Manput it behind Sweden, Denmark, Finland, Norway, Germany, the Netherlands, Hong Kong, Singapor

22、e, the United Kingdom, and Canada. By losing its gold-star rating, the worlds superpower became and remains second best.M) “The political brinksmanship of recent months highlights what we see as Americas governance and policymaking are becoming less stable, less effective and less predictable than w

23、hat we previously believed,” S&P stated to justify its lone decision in 2011. “The statutory(法定的) debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.”N) Now there are three months for Congress to complete its bargaining, pass a budget, and

24、lift the debt ceiling again. If it failsand everything suggests a return to the deadlock we just escaped fromAmerica will be back in default territory. Politicians in Washington will put on the motley(小丑装束), the default circus will resume and the damage to Americas economy will start over.O) Whateve

25、r was said on either side in the latest showdown about reneging(违约) on the national debts, defaulting will not be pretty. According to Bovino, if America defaulted it “would be devastating for markets and the economy and worse than the collapse of Lehman Brothers in 2008”and “put the economy in a re

26、cession and wipe out much of the economic progress made by the recovery from the Great Recession.”1. For countries with the highest credit rating, people should not have to worry that money lent to these countries wont be paid back.2. In Bovinos opinion, the default will do much more harm to America

27、 than the shutdown of Lehman Brothers.3. The issues like debt ceiling and the default have been exploited by politicians for their own benefits to make fiscal policies.4. The shutdown of the government has hindered Americas economic recovery and set back peoples confidence in investment.5. Swann reg

28、ards the September 11 attacks as a turning point for the development of American economy.6. S&P is not quite confident about Americans GDP getting near two percent in the last quarter of the year.7. With the debt ceiling deadline approaching, S&P would soon attribute America to a worse rate alongsid

29、e of Grenada.8. In Nikola Swanns opinion, America has had more deficits than any other countries in the world since World War II.9. According to the rating agency, the United States has had a huge loss after the shut down for half a month.10. Three months later, if the Congress cannot pass a budget

30、and lift the debt ceiling, America will be on the old track of default.答案:1-5 J O M B G 6-10 E I F C N答案解析1. J解析:注意抓住题干中的关键词the highest credit rating、worry、wont be paid back。关于最高信用等级国家信用问题的内容出现在J段。该段第二句指出,对于评级最高的主权国家而言,你本来就不用去担心它们无法还债。由此可见,题干与原文是同义转述,故答案是J。2. O解析:注意抓住题干中的关键词default 和Lehman Brothers。

31、关于美国政府违约与雷曼兄弟公司倒闭进行比较的内容出现在O段。该段第二句指出,根据博维诺的看法,如果美国违约,它“对市场和经济将是毁灭性的打击,这比2008年雷曼兄弟公司倒闭还要糟糕,”。由此可见,题干与原文是同义转述,故答案是O。题干中的do much more harm与原文中的worse相对应。3. M解析:注意抓住题干中的关键词exploited by politicians和fiscal policies。关于政客们利用债务上限和债务违约的内容出现在M段。该段最后一句指出,法定债务上限和债务违约已成为财政政策辩论中的筹码。由此可见,题干对原文进行了同义转述,故答案是M。题干中的expl

32、oited与原文中的bargaining chips相对应。4. B解析:注意抓住题干中的关键词economic recovery、set back、peoples confidence in investment。关于政府关门阻碍美国经济复苏进程的内容出现在B段。该段第一句的后半句指出,政府关门则沉重打击了经济的发展,使各地的投资者们信心受挫。由此可见,题干与原文是同义转述,故答案是B。5. G解析:注意抓住题干中的关键词the September 11 attacks和turning point。关于911恐怖袭击的内容出现在G段。该段第一句指出,斯旺追踪美国的财政健康状况已有一段时间了。

33、他将许多麻烦追溯到2001年。当年911恐怖袭击事件导致全国经济的下滑,反恐战争的支出急剧上升。由此可见,题干与原文是同义转述,故答案是G。6. E解析:注意抓住题干中的关键词not quite confident、near two percent和in the last quarter of the year。关于美国第四季度GDP的内容出现在E段。该段第一、二句指出,标准普尔现在预计今年第四季度的GDP将接近2%。这还是在美国走运的情况下。由此可见,标准普尔并不确定GDP的增长目标能否达成。题干与原文是同义转述,故答案是E。7. I解析:注意抓住题干中的关键词Grenada,关于美国和格林

34、纳达的内容出现在I段。该段第二、三句指出,随着债务上限最后期限的临近,标准普尔已经进入倒计时,将自动把美国的信用评级下调,并将其归为“选择性违约”的级别。(其他国家中唯一被评为SD级的是格林纳达。)由此可见,题干对原文进行了同义转述,故答案是I。8. F解析:注意抓住题干中的关键词Nikola Swann 和World War II。关于尼古拉斯旺的观点以及第二次世界大战的内容出现在F段。该段第二句指出,因为,直到最近,美国“都还在背负二战以来世界最高的财政赤字”信用分析师尼古拉斯旺说道。由此可见,题干与原文是同义转述,故答案是F。9. C解析:注意抓住题干中的关键词a huge loss和h

35、alf a month。关于美国政府关门带来损失的内容出现在C段。该段第一句指出,如今,这家评级机构估算,政府关门在短短的两个星期就导致240亿美元的经济损失。由此可见,题干与原文是同义转述,故答案是C。10. N解析:注意抓住题干中的关键词three months、lift the debt ceiling和on the old track。关于国会需要在三个月内通过预算的内容出现在N段,该段第一、二句指出,现在还有三个月的时间让国会进行它的谈判、通过一项预算方案并再次提高债务上限。如果未能达成一切都将回到我们刚刚逃离的僵局美国将再次陷入违约的泥潭。由此可见,题干与原文是同义转述,故答案是N

36、。参考译文政府关门如何危害美国经济A)政府关门和债务违约的威胁会让我们付出多少代价?在最近一次国会就政府支出问题的激烈论战前,美国联邦赤字正在缩小,而且似乎在不久的将来更会如此。据标准普尔的高级信用分析师、美国信用等级评估小组的负责人马里卡瓦诺称,作为国内生产总值的一部分,现金短缺数额在过去的两年里下降了一半。B)换句话说,美国在削减赤字方面已步入正轨,并享受着经济日渐复苏的成果4而政府关门则沉重打击了经济的发展,使各地的投资者们信心受挫。就在国会胡乱拼凑出一个最后的协议之前,卡瓦诺告诉新闻周刊:“今年早些时候,我们把美国的评级展望由“负面”调升为“稳定”,这是基于其国会有能力成功解决财政悬崖

37、问题、经济复苏势头得以巩固以及国家赤字已下降为2011年水平的一半这些因素。”C)9如今,这家评级机构估算,政府关门在短短的两个星期就导致240亿美元的经济损失。一天就有15亿美元以上的损失。 从本质上来说,预算拨款之战使得美国更没钱可花。国会进行了最后的预算折中方案讨论,但实际上把关键的财政决策推迟到了明年,而就在此之前,标准普尔的首席经济学家贝丝安博维诺说:“底线是政府关门波及美国经济。”D)“9月份,我们本来期望第四季度会出现3%的年化增长,因为我们以为政府官员已经从2011年吸取了教训,并且会采取措施避免类似政府关门、主权债务违约这样的事情发生。”(在2011年,消费者信心指数跌至31

38、年以来的最低点; 本周的盖洛普民意测验同样表明,投资者信心指数已跌至近两年来的最低水平。这可能不是巧合,因为两项民意调查都是在国会陷入僵局时进行的。)E)6标准普尔是唯一一家曾经削减过美国顶级信用的评级机构(同样也在2011年),该机构现在预计今年第四季度的GDP将接近2%。这还是在美国走运的情况下。“我们完全可以预料消费者信心指数将随着政治家在协商某种永久性解决方案时局面突然恶化而突然下跌,”博维诺预测,“如果人们担心政府政策边缘化又有所抬头,而且随之又有政府关门的风险或更糟糕的情况,他们就不敢打开他们的支票簿乱花钱了。”F)卡瓦诺说据其机构估计,政府每关闭一周会导致大约0.3%的GDP损失。对这样一个国家而言这真不是好事。8因为直到最近,美国“都还在背负二战以来世界最高的财政赤字。”信用分析师尼古拉斯旺说道。他是博维诺的前任,在2011年带领其团队削减了美国信用等级。G)5斯旺追踪美国的财政健康状况已有一段时间了。他将许多麻烦追溯到2001年。当年911恐怖袭击事件导致全国经济的下滑,反恐战争

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