单选题"You are not here to tell me what to do. You are here to tell me why I have done what I have already decided to do," Montagu Norman, the Bank of England's longest-serving governor (1920-1944), is reputed to have once told his economic adviser. Today, thankfully, central banks aim to be more transparent in their decision making, as well as more rational. But achieving either of these things is not always easy. With the most laudable of intentions, the Federal Reserve, America's central bank, may be about to take a step that could backfire. Unlike the Fed, many other central banks have long declared explicit inflation targets and then set interest rates to try to meet these. Some economists have argued that the Fed should do the same. With Alan Greenspan, the Fed's much-respected chairman, due to retire next year-after a mere 18 years in the job-some Fed officials want to adopt a target, presumably to maintain the central bank's credibility in the scary new post-Greenspan era. The Fed discussed such a target at its February meeting, according to minutes published this week. This sounds encouraging. However, the Fed is considering the idea just when some other central banks are beginning to question whether strict inflation targeting really works. At present centra1 banks focus almost exclusively on consumer-price indices. On this measure Mr. Greenspan can boast that inflation remains under control. But some central bankers now argue that the prices of assets, such as houses and shares, should also somehow be taken into account. A broad price index for America which includes house prices is currently running at 5.5%, its fastest pace since 1982. Inflation has simply taken a different form. Should central banks also try to curb increases in such asset prices? Mr. Greenspan continues to insist that monetary policy should not be used to prick asset-price bubbles. Identifying bubbles is difficult, except in retrospect, he says, and interest rates are a blunt weapon: an increase big enough to halt rising prices could trigger a recession. It is better, he says, to wait for a housing or stockmarket bubble to burst and then to cushion the economy by cutting interest rates-as he did in 2001-2002. And yet the risk is not just that asset prices can go swiftly into reverse. As with traditional inflation, surging asset prices also distort price signals and so can cause a misallocation of resources-encouraging too little saving, for example, or too much investment in housing. Surging house prices may therefore argue for higher interest rates than conventional inflation would demand. In other words, strict inflation targeting-the fad of the 1990s-is too crude.

单选题It can be inferred from the first paragraph that the author is

单选题{{B}}Text 4{{/B}} More than any other industry, the luxury-goods business needs people to feel good about spending money. So at a recent conference in Moscow, Bernard Arnault, the head of Moet Hennessy Louis Vuitton (LVMH), the world's biggest luxury-goods group, went to great lengths to dismiss investors' fears about the impact on the industry of America's credit crisis, a possible recession and the weak dollar. Indeed, Mr. Arnault said he expects the industry's sales almost to double in the next five years, thanks to strong demand from emerging markets and the creation of new wealth across the globe. After a depressing period at the beginning of the decade when the terrorist attacks in America, the outbreak of SARS and the war in Iraq reduced international travel and people's appetite for frivolous things, the industry has had three excellent years. According to Bain, a consultancy, sales of luxury goods grew by 9% in 2006 to 159 billion ($ 200 billion) and will reach about 170 billion this year, which would double the 1996 figure. Europe remains the biggest market, with about 40% of sales, though the strongest growth is in China, Russia, the Middle East and some Latin American countries. Can the industry really double again in half the time? Analysts at Citigroup say that Christmas will be good this year for luxury-goods firms, but they are more cautious about next year because of worries about falling demand in America. It is tempting to think that luxury goods are isolated from the broader economy, because customers are rich enough to ignore it, says Luca Solca, a luxury-goods analyst. But the industry's expansion into a broader "aspirational" market, by selling to the merely affluent, makes it susceptible. And as luxury firms expand in Asia and the Americas, they will continue to suffer currency woes. Most of the industry's production is in the euro-zone, mainly in France and Italy. Even the optimistic Mr. Arnault complained at his firm's recent annual meeting that the euro had reached "incomprehensible" levels against the dollar and the yen. Luxury companies could shift more of their production to countries with weaker currencies and cheap labor (ie, China), but some customers-especially Asian customers-want the elitism and craftsmanship associated with products manufactured in Europe. At least sales in emerging markets are growing fast. But Melanie Flouquet, a luxury analyst at JPMorgan, an investment bank, says that this growth is not enough to offset a slowdown in America. Chinese and Russian consumers account for around 7% and 4% of global luxury sales respectively, compared with 16-18% for Americans. Even so, European firms are sticking to their plans in New York, America's fashion capital. Gucci will open its biggest shop in February in Trump Tower, a shiny skyscraper on New York's Fifth Avenue. Ermenegildo Zegna will also open a shop on Fifth Avenue next year. And this week Dolce Gabbana re-opened its spruced-up shop on Madison Avenue. Claudia D' Arpizio of Bain thinks luxury makers need to follow Giorgio Armani and segment their customers more carefully with different product lines at different price ranges. She predicts that the industry will see solid growth rates of up to 10% a year in the near term. This means that the industry could double in ten years-by which time China is likely to account for more than a quarter and maybe as much as a third of the world's consumption of luxury goods. Yet Mr. Arnault's rosy prediction seems unlikely to come true. As Americans tighten their purse-strings, over-optimism is a luxury even this industry cannot afford.

单选题Senator D. P. Moynihan would probably agree that ______.

单选题The phrase "impinge on" in Paragraph 1 most probably means______

单选题Under pressure from animal welfare groups, two national science teachers associations have adopted guidelines that ban classroom experiments harming animals. The National Association of Biology Teachers and the National Science Teachers Association hope to end animal abuse in elementary and secondary schools and, in turn, discourage students from mishandling animals in home experiments and science fair projects. Animal welfare groups are apparently most concerned with high school students experimenting with animals in extracurricular projects. Barbara Orlans, President of the Scientists' Center for Animal Welfare, said that students have been performing surgery at random, testing known poisonous substances, and running other pathology experiments on animals without even knowing normal physiology. At one science fair, a student cut off the leg and tail of a lizard to demonstrate that only the tail can regenerate, she said. In another case, a student bound sparrows, starved them and observed their behavior. "The amount of abuse has been quite horrifying," Orlans said. Administrators of major science fairs are short-tempered over the teachers' policy change and the impression it has created. '"The teachers were sold a bill of goods by Barbara Orlans," said Thurman Grafton, who heads the rules committee for the International Science and Engineering Fair. "Backyard tabletop surgery is just nonsense. The new policies throw cold water on students' inquisitiveness," he said. Grafton said he wouldn't deny that there hasn't been animal abuse among projects at the international fair, but he added that judges reject contestants who have unnecessarily injured animals. The judges have a hard time monitoring local and regional fairs that may or may not choose to comply with the international fair's rules that stress proper care of animals, Grafton said. He said that several years ago, the Westinghouse Science Talent Search banned harmful experiments to animals when sponsors threatened to cancel their support after animal welfare groups lobbied for change. The teachers adopted the new policies also to fend off proposed legislation--in states including Missouri and New York that would restrict or prohibit experiments on animals. Officials of the two teachers organizations say that they don't know how many animals have been abused in the classroom. On the one hand, many biology teachers are not trained in the proper care of animals, said Wayne Moyer, executive director of the biology teachers' association. On the other, the use of animals in experiments has dropped in recent years because of school budget cuts. The association may set up seminars to teach better animal care to its members.

单选题If most participants end up with green shares, it means

单选题Under pressure from animal welfare groups, two national science teachers associations have adopted guidelines that ban classroom experiments harming animals. The National Association of Biology Teachers and the National Science Teachers Association hope to end animal abuse in elementary and secondary schools and, in turn, discourage students from mishandling animals in home experiments and science fair projects. Animal welfare groups are apparently most concerned with high school students experimenting with animals in extracurricular projects. Barbara Orlans, President of the Scientists' Center for Animal Welfare, said that students have been performing surgery at random, testing known poisonous substances, and running other pathology experiments on animals without even knowing normal physiology. At one science fair, a student cut off the leg and tail of a lizard to demonstrate that only the tail can regenerate, she said. In another case, a student bound sparrows, starved them and observed their behavior. "The amount of abuse has been quite horrifying," Orlans said. Administrators of major science fairs are short-tempered over the teachers' policy change and the impression it has created. "The teachers were sold a bill of goods by Barbara Ortans," said Thurman Grafton, who heads the rules committee for the International Science and Engineering Fair. "Backyard tabletop surgery is just nonsense. The new policies throw cold water on students' inquisitiveness," he said. Grafton said he wouldn't deny that there hasn't been animal abuse among projects at the international fair, but he added that judges reject contestants who have unnecessarily injured animals. The judges have a hard time monitoring local and regional fairs that may or may not choose to comply with the international fair's rules that stress proper care of animals, Grafton said. He said that several years ago, the Westinghouse Science Talent Search banned harmful experiments to animals when sponsors threatened to cancel their support after animal welfare groups lobbied for change. The teachers adopted the new policies also to fend off proposed legislation--in states including Missouri and New York--that would restrict or prohibit experiments on animals. Officials of the two teachers organizations say that they don't know how many animals have been abused in the classroom. On the one hand, many biology teachers are not trained in the proper care of animals, said Wayne Moyer, executive director of the biology teachers' association. On the other, the use of animals in experiments has dropped in recent years because of school budget cuts. The association may set up seminars to teach better animal care to its members. (414 words)Notes: pathology 病理学。lizard 蜥蜴。tabletop 桌面。short-tempered 脾气急躁的。lobby for 游说支持。fend off 躲开。

单选题The experiments led by Allan Rechtaschaffen and Bernard Bergmann at the University of Chicago ______.

单选题{{B}}Text 4{{/B}} The empty house, in a middle-class corner of southern California, is two storeys high and boasts a three-car garage. Roses bloom around a kidney-shaped swimming pool, which is green with algae. Bill Bobbitt, a county inspector, dips a ladle into the water and brings up half a dozen wriggling larvae. Mosquitoes, and the West Nile virus that some of them carry, are thriving in California's plunging property market. West Nile virus arrived in America in 1999 and made it to California three years later. Since then it is known to have infected 2,300 people in the state, of whom 76 have died. In Orange County this is the worst summer yet. By this point last year officials there had discovered nine birds that had been killed by West Nile virus and not one infected mosquito. So far this year they have found 219 infected birds and 75 infected mosquitoes. Some of this rise is due to better testing and co-operation with the animal services department, which receives most reports of dying birds. But a much bigger cause is the housing crunch. Fully 63,000 homes were foreclosed in California between April and June, according to DataQuick, a property data services outfit. In the past year the number of Orange County homeowners who have defaulted on their mortgages has more than doubled. Empty houses mean untended pools. Untended pools quickly breed mosquitoes. Dead birds are also piling up in neighbouring counties like Los Angeles, San Diego and San Bernardino, which also have high foreclosure rates. Last week 170 infected mosquitoes were discovered in the state as a whole-the highest tally ever. So far this year i3 human infections have been reported in California, but the numbers are expected to grow rapidly as the summer moves on. John Rusmisel, president-elect of the board responsible for killing the critters, says a peak in infected mosquitoes is generally followed, two or three weeks later, by a peak in human cases. In theory, owners are supposed to keep their properties in decent shape whether they live there or not. California has even passed a bill fining banks and mortgage companies that seize properties and then allow pools to fester. But Mr Bobbitt isn't waiting for the lawyers. He has treated the pool in Santa Ana with oil and synthetic growth hormones, which will keep the mosquitoes adolescent, preventing breeding. Then he tips in a few dozen mosquito fish (Gambusia affinis), which begin happily launching larvae. You can buy a lot of the fish for what a lawyer charges per hour, and some authorities, with commendable creativity, even provide them free to help control the pests.