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 governments—to do their job. 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, the 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行的后半句话可知“money market is a set of institutions or arrangements...”该句的意思与D项符合。
单选题
Which of the following statements concerning 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.