商务英语综合英语第四册第六单元教参练习答案.docVIP

Keys for Reference Unit 6 Money and banking Warm-up Activities I. Starting up A. Open; B. Open; C. 1 – f; 2 – o; 3 – i; 4 – a; 5 – h; 6 – b; 7 – c; 8 – n; 9 – k; 10 – m; 11 – d; 12 – j; 13 – e; 14 – l; 15 - g II. Listening A. 1. Money is any good or token that functions in trade as a medium of exchange, store of value, and unit of account. . 2. Because of gold’s useful physical properties even if inflation damages their value as currency, whereas paper notes are only worth as much as the monetary value assigned to them. 3. It functions as a medium of exchange and a store of value. 4. Fiat money is relatively a modern invention. A central authority (government) creates a new money object that has negligible inherent value. 5. Because the central authority enhances it under penalty of law and demanding this money in payment of taxes or tribute. B. Features Specific requirements 1. medium of exchange liquidity, and be easily tradable, with a low spread between the prices to buy and sell easily transportable durable It should minimize contamination and contagion 2. unit of account It should be divisible into small units without destroying its value It should be fungible It must be a specific weight, or measure, or size to be verifiably countable. 3. store of value It should be long lasting; it must not be perishable or subject to decay. It should have a stable value. It should be difficult to counterfeit, and the genuine must be easily recognizable. 4. anonymous Money should not be subject to government tracking. It should be useable for purchase in a black market. It should not require equipment, tools or electricity to use. III．Discussion Answers: open Intensive Reading Inflation, Banking, and Economic Growth Exercises I．Reading Comprehension Inflation might affect economic growth through the banking sector by reducing the overall amount of credit that is available to businesses When the low real rates of return encourage borrowing and thus attract m