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1、参考答案Chapter 1 Wall Street Reels, NYC Braces for Tough Economy1. Answer the following questions based on the text.1) She meant that the New York economy was on the verge of collapse, which made people feel very worried.2) She said that lots of other cities and states across the U.S. had already suffe
2、red the economic problems.3) This citys economy was not as bad as that of other U.S. cities and states.4) They were massive losses and layoffs, rising costs of labor contracts, fewer major commercial building sales and a weakening local housing market.5) The policy was to make every government agenc
3、y do more with less.6) The citys economy heavily depended on the citys essential services and they were the backbone of the citys economy. The policy could result in the worsening of the citys economy.7) He continued to spend money on vital government functions such as garbage collection and police
4、protection.8) Because property tax cut was based on the booming businesses in Wall Street and massive building sales. However, the current situation was that Wall Street was suffering heavy losses and building sales slid sharply, and thats why it was unlikely that property tax cut would happen soon.
5、9) The difference is night and day. In 2006, the number of the citys employees bonuses skyrocketed, estimated at $33.9 billion while in 2008 the number tumbled by 30% or about $10 billion.10) It was gloomy and pessimistic.2. Fill in the blanks in the following sentences with the appropriate forms of
6、 the phrases given in the box.1) dust off2) In the short term3) braced for4) On top of5) cut back6) are hard up for7) skimp on8) bridge the gap9) is lush with10) dip into3. Match an appropriate economic term numbered with Arabic numerals in the lefthand column with a corresponding definition numbere
7、d with capital Roman letters in the righthand column.1) C2) H3) D4) G5) A6) J7) B8) F9) I10) E4. Fill in the blanks in the following passage with the sentences given blow.1) B2) E3) D4) A5) C5. Group oral presentation.Omitted.Chapter 2Chief Struggles to Revive Merrill Lynch1. Answer the following qu
8、estions based on the text.1) Its no easy to turn the firm around.2) No, because the overall market environment was bad and the firm might take a while to solve its financial problems.3) It tried to shore up its weakened finances by selling its stake and controlling interest in other companies.4) Mr.
9、 Thains predecessor, E. Stanley ONeal.5) Mortgagelinked investments that the firm amassed under Mr. Thains predecessor6) No, because the values continued to deteriorate and this forced Merrill to sell its most value assets.7) The two chiefs smoothed things over and did some soulsearching together. T
10、hey both believed that the relationship was important for both sides.8) He was a technocrat and knew about the business inside out.9) Yes, because the firm did better than the previous quarter.10) No, because he felt frustrated for not having things done better for Merrill.2. Fill in the blanks in t
11、he following sentences with the appropriate forms of the phrases given in the box.1) run out of2) by nature3) once and for all4) by surprise5) mark down6) work out to7) smooth over8) put into the hands of9) beating out10) turn around3. Match an appropriate economic term numbered with Arabic numerals
12、 in the lefthand column with a corresponding definition numbered with capital Roman numerals in the righthand column.1) M2) H3) B4) D5) J6) I7) C8) E9) O10) K11) N12) A13) G14) L15) F4. Fill in the blanks in the following passage with the statements given blow.1) D2) A3) E4) C5) B5. Group activities
13、Omitted.Chapter 3Out of the Frying Pan1. Answer the following questions based on the text.1) No. Because the author believed that the worst for Wall Street has not come.2) Because the company had several serious financial problems, such as more than $60 billion of hardtosell securities, first quarte
14、rly loss, tumbling stock prices, and liquidity problems.3) Investment banks could have access to centralbank money.4) These officials did not check their book less closely.5) It was very angry with what commercial banks argued.6) Goldman wanted to see its counterparties, including its rivals, to hav
15、e normal business activities so that its own business interest could not be affected.7) He or she talked about it from the perspective of bank investment, proving that a lower leverage ratio led to the banks increased risk profile.8) There were two options. One was to turn the bank assets over more quickly. The other was to push deeper into risky areas that offer big margins even without leverage, but this was a risk move.9) They would place tight shackles on investment banks and would not allow bend the proposed rules or circumvent them.10) He or she disagree
