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GMAT阅读机经整理:私人支票.

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  GMAT阅读机经的重要性毋庸置疑,如果我们能够在考前看了一定数量的GMAT阅读机经,而在考试中能够遇到一篇两篇的无疑很好,即使不遇到在看了大 量的GMAT阅读机经,也往往有助于考生取得好成绩。以上就是一篇关于私人支票的起源的GMAT阅读机经,希望可以帮到大家。

  一、考古原文(有多位狗主说:不是原文 但是高度仿真):

  Despite the growing availability and acceptance of electronic payment instruments—such as credit cards, debit cards, and automated clearinghouse (ACH) payments—by far the most popular noncash payment instrument used in the United States is the paper check. In 1995, approximately 80 percent of all noncash transactions were made by check (Bank for International Settlements, forthcoming). Furthermore, although use of electronic instruments has grown in the past several years, check use has grown as well: between 1987 and 1993, the average annual number of payments per capita increased by 26 payments for electronic instruments, but by 31 payments for checks (Humphrey, Pulley, and Vesala, forthcoming). Clearly, individuals and businesses are not rapidly shifting away from checks to electronic instruments.The popularity of checks persists even though checks cost society more to produce and process than do electronic instruments. According to standard economic theory, that may be a sign that the market for payment instruments is not working properly. In general, in an ficient market, when competing goods are available and one costs society more, the prices of the goods will reflect the relative costs of the resources used to produce them, and the cheaper good will be substituted for the more expensive. In this way, society uses its resources to produce only the particular goods it wants in the particular amounts it wants. In other words, resources are used ficiently. When use does not shift to the cheaper good, either the goods are not close substitutes or the market has failed, and there is a potential role for a public authority to attempt to correct the failure. Market failure is a commonly accepted view of what’s happened in the market for payment instruments. According to this view, the users of checks are the check writers. And for those individuals and businesses, the private cost, or price, of using checks has been distorted by the value of check float, or the time between the writing and clearing of a check. During that time, of course, the funds can earn interest for the check writer rather than for the check receiver. The size of this benefit is thought to have reduced the price of check use below the cost to society of producing and processing checks. Since individuals and businesses don’t face that higher social cost, they continue to use checks despite the existence of other means of payment that are less costly to society. In short, checks are overused.

  That view is suspect even if the data still supported it, though. The view seems to assume that only the agent on one side of a transaction—the check writer—recognizes and takes advantage of the value of float. That assumption doesn’t correspond with expected rational behavior. Since float is a transfer payment from the check receiver to the check writer, with no allocative fects overall, rational agents are likely to negotiate a mutually benicial distribution of any significant value of float.7 And, in fact, this type of negotiation is common for large payments between businesses, for which the value of float is potentially large. In practice, many business-to-business payments contractually stipulate payment transaction terms that internalize the fects of float.

  二、段落大意

  P1. 米国支票用得很普遍,大概占了大家80%用来付帐得业务量,虽然其他的业务,比如电子帐务等在增长,支票还是占很重要作用。信用卡电子卡什么的很方便,不用刷卡的人花钱买,社会生产成本(social production cost)低。私人支票要印,这样社会生产花费(social production cost高,又要开支票的人花钱买,为什么私人支票还是那么流行呢?

  P2. 其实这种现象是不正常的。介绍说经济学中有个理论就是,在正常的市场下,如果一个东西比另一个东西便宜,便宜的那个会取代贵的那个。如果取代这件事情没发生,那么就是market failure。个人支票没被电子卡取缔就是个market failure。

  P3. 旧的观点认为,支票没被取代的原因是因为支票签发到兑现会产生一个check float,大家认为个人支票还流行的原因就是因为买支票的时间比用完一本支票的时间短(买就一瞬间的事情,用完一本支票要好久),能给使用支票的人带来好处。由于开支票的人能够从支票的流通中获利(从支票开出到兑现的时间差可以产生利息)使得他们支付的成本被降低。另外,支票的使用只带来社会成本,而不会给支票使用者带来成本,所以他们一直用,尽管这违背市场规律。开支票者不需要直接支付社会成本(有题),所以仍然使用支票。然后作者对这种这种观点提出了质疑,说因为科技进步还是啥子的,支票现在从签发到兑现的时间已经很快了,产生的这种check float利益很小。而且就算这个利益很大的时候(比如大笔钱的支票),支票接受方也会考虑这个利益,通过谈判来分享这个利益。(此处有题目)

  P4. 有一种新观点要反驳旧观点, 认为实际上那个inflator/inflation现在已经没有那么大的影响力了。认为这种利息很小,可以忽略。而且私人支票的benit只有写支票的(cheque writer)能得到。所以在很多商业往来中,如果inflator/inflation高,收支票的(cheque receiver)会和写支票的讨价还价,希望也能享受到私人支票的benit。另外,上述理论家假设只有开支票方知道利用这种利息,而实际上,如果这种收益足够大的话,接受支票的一方也会通过谈判要求共盈(有题)。

  三、题目

  Q1. 主旨题

  V1 解释了为什么支票一直还在使用的几个原因

  V2 主旨,请注意,原答案,“陈述一个事件背后的原因”是基于未变体的,现在加了这一段,逻辑和主旨有所改变,我选的是,evaluate一个事件背后原因,其他的不太靠谱(from考古狗主750)

  V3 rute conventional view (本月V29狗主)

  V4 我选的是类似rute conventional view这个的(本月V32狗主)

  V5 答案忘记了,好像是驳斥传统看法(思路是文章前面是说支票的使用带来了float, 而且writer不需要面对这些成本。最后一段驳斥,说float 的影响现在已经没有这么大了,而且receiver会协商,含义就是传统的解释支票继续大量使用的原因是不正确的)

  个人认为“解释支票为什么继续使用的原因”这个选项不太对。 (from考古狗主770)

  V6“陈述一个事件背后的原因”是基于未变体的,现在加了第四段,逻辑和主旨有所改变,我选的是,evaluate一个事件背后原因,其他的不太靠谱

  Q2. 高亮 technology,问作用。

  减少从写到收的时间

  distort the check float (本月V29狗主)

  Q3. 是什么令check能够在Market继续使用?

  一个选项是interest rate降低了,

  一个是可以negotiate.

  Q4. 作者提到了现在因为科技的进步,支票的签发与兑现很快了,是为什么?

  A. 是为了说明支票从签发到兑现的时间缩短了

  B. 是为了说明支票从开出到兑现产生的float的经济效益没用这么大了

  我选了B

  Q5. 对那些支持第三段中老观点的人来说,以下哪个选项是正确的

  因为某种原因(记不清楚了)支票的使用只带来社会成本,而不会给支票使用者带来成本,所以他们一直用 (本月V29狗主确认)

  Q6. 从这个文章可以infer出支票接受者对支票产生的check float的态度?

  支票接受者会通过谈判来保护自身的利益(也就是要求分享check float)

  就是强调他们也negotiate 保护自身利益那个选项 (本月V29狗主确认)

  Q7. 第四段正确的话,以下何者正确

  说float的影响(或价值)被夸大了 问题不准确,答案还蛮确定

  Q8. 最后一段说支票处理更有效率是作者假设?/ highlight: "the ficiency of processing checks" 的意思是什么?

  减少了支票收与付的时间 (确定为正确选项,因为float的金额由时间和利率两个因素决定,这里就是第一个因素) (from考古狗主770)

  我选的是the gap of...is small (好像大概意思是说 receiver很快就能拿到钱)

  我选的减少了写支票到收支票的时间。(本月V32狗主)

  Q9. 作者会认同哪个观点?(题目大致就是这个意思)(本月)

  E:当flate 金额比较大时,receiver会采取措施来减少自己的损失(考古狗主770)

  Q10. 传统理论认同哪点(本月)

  writer 不需要直接承担支票带来的社会成本。 (考古狗主770)

  Q11. 文章的意思暗指收支票的人怎么样?

  收支票的人和写支票的人都要榨取最大价值。 (from考古狗主750)

  Q12. 第三段开头高亮了旧观点,然后问这个高亮的旧观点指的是什么?

  应该就是第二段里描述的内容。(本月V32狗主)

  旧观点是市场失灵。 (from考古狗主750)

  四、备注

  最长的一篇,四段。

  反正细节题很好定位 结构很清楚 不难 就是灰常长啊

在这篇关于私人支票的起源的GMAT阅读机经,给出了文章的主旨,篇章结构,段落大意以及相关题目,考生可以有选择的看看,最后祝大家都能考出好成绩。

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