大连海事大学《考研英语》Unit3 Listening.docVIP

Unit Three Economy and Globalization Part One Warm-up Listening The Great Depression Words Notes: protract: v. to draw out or lengthen in time; prolong stagnation: n. a state of inactivity mobilization: n. act of assembling and putting into readiness for war or other emergency monetarist: n. an advocate of the theory that economic fluctuations are caused by increases or decreases in the supply of money cushion: v. to mitigate the effects of; absorb the shock of aggregate: adj. constituting or amounting to a whole; total Task One Compound Dictation Directions: Listen to a short passage about the Great Depression in 1930s. Please listen to it twice and then fill in the missing information. The Great Depression was the longest and most severe period of economic depression ever experienced by the United States. It began with ________________W1_____________________ in October 1929, and did not end until the United States entered World War II in late 1941. At its worst point—in early 1933—the American economy______________ W2___________________. National income had declined by almost one-half in a little over 3 years; capital investment had dropped to the point _________________ W3_______________________; and one out of three people in the labor force was out of work. The most protracted period of economic stagnation in American history was finally ended by the war mobilization efforts in 1942. Obviously, ____________________________ W4_______________________________. First, the stock-market crash which began on October 24, 1929, was not confined to a single day; the decline in asset prices was a process of continual erosion for almost 3 years. This enormous fall in the value of assets not only _________________ W5___________________, it also ___________________________ W6____________________________, particularly banks. In addition, the interrelationship of income, consumption, and investment, together with the pessimistic expectations following the finan