单选题
Every country with a monetary system of its own has to have
some kind of market in which dealers in bills, notes, and other forms of short
term credit can buy and sell. The "money market" is a set of institutions or
arrangements for handling what might be called wholesale transactions in money
and short term credit. The need for such facilities arises in much the same way
that a similar need does in connection with the distribution of any of the
products of a diversified economy to their final users at the retail level. If
the retailer is to provide reasonably adequate service to his customers, he must
have active contacts with others who specialize in making or handling bulk
quantities of whatever is his stock in trade. The money market is made up of
specialized facilities of exactly this kind. It exists for the purpose of
improving the ability of the retailers of financial services—commercial banks,
savings institutions, investment houses, lending agencies, and even
government—to do their jobs. It has little if any contact with the individuals
or firms who maintain accounts with these various retailers or purchase their
securities or borrow from them. The elemental functions of a
money market must be performed in any kind of modern economy, even one that is
largely planned or socialist, but the arrangements in socialist countries do not
ordinarily take the form of a market. Money markets exist in countries that use
market processes rather than planned allocations to distribute most of their
primary resources among alternative uses. The general distinguishing feature of
a money market is that it relies upon open competition among those who are bulk
suppliers of funds at any particular time and among those seeking bulk funds, to
work out the best practicable distribution of the existing total volume of such
funds. In their market transactions, those with bulk supplies
of funds or demands for them, rely on groups of intermediaries who act as
brokers or dealers. The characteristics of these middlemen, the services they
perform, and their relationship to other parts of the financial vary widely from
country to country. In many countries there is no single meeting place where the
middlemen get together, yet in most countries the contacts among all
participants are sufficiently open and free to assure each supplier or user of
funds that he will get or pay a price that fairly reflects all of the influences
(including his own) that are currently affecting the whole supply and the whole
demand. In nearly all cases, moreover, the unifying force of competition is
reflected at any given moment in a common price (that is, rate of interest) for
similar transactions. Continuous fluctuations in the money market rates of
interest result from changes in the pressure of available supplies of funds upon
the market and in the pull of current demands upon the market.
单选题
The first paragraph is mainly about
A.the definition of money market.
B.the constitution of a money market.
C.the basic functions of a money market.
D.the general feature of a money market.
【正确答案】
C
【答案解析】[解析] 第一段的描述很明显就是货币市场的基本功能。所以选择C项。
单选题
According to this passage, a money market
A.provides convenient services to its customers.
B.has close contact with the individuals or firms seeking funds.
C.maintains accounts with various retailers of financial services.
D.is made up of institutions who specialize in handling wholesale monetary
transactions.
【正确答案】
D
【答案解析】[解析] 关于“货币市场”的定义，可以通过第一段第二句中的“The 'money market', is a set of institutions or arrangements...”可知，该句的意思与D项一致。
单选题
Which of the following statements about a money market is NOT true
according to this passage?
A.Money market does not exist in planned economies.
B.Money market has been established in some socialist countries.
C.Money market encourages open competition among bulk suppliers of
funds.
D.Money market relies upon market processes to distribute funds to final
users.