large companies need a way to reach the savings of the public at large.the same problem, on a smaller scale, faces practically every company trying to develop new products and create new jobs.there can be little prospect of raising the sort of sum needed from friends and people we know.and while banks may agree to provide short-terra finance, they are generally unwilling to provide money on a permanent basis for long—term projects.so companies turn to the public, inviting people to lend them money, or take a share in the business in exchange for a share in future profits.this they do by issuing stocks and shares in the business is new development if they are to serve us properly, and requires more money than is raised through the stock exchange.by doing so they can put into circulation the savings of individuals both at home and overseas.

　　　when the saver needs his money back he does not have to go to the company with which he originally placed it.instead, he sells his shares through a stockbroker(证券经纪人)to some other saver who is seeking to invest his money.

　　　many of the services needed both by industry and by each of us are provided by the government or by local authorities.hospitals, roads, electricity, telephones, equipment and new development, if they are to serve us properly, require more money than is raised through taxes alone.the government, local authorities, and nationalized industries therefore frequently need to borrow money to finance major capital spending, and then too, come to the stock exchange.

　　　there is hardly a man or woman in this country whose job or whose standard of living does not depend on the ability of his or her employers to raise money to finance new development.in one way or another this new money must come from the savings of the country.the stock exchange exists to provide a channel through which these savings can reach those who need finance.

　　　1.almost all companies involved in new production and development must .

　　　a.borrow large sums of money from friends and people they know

　　　b.rely on their own financial resources

　　　c.depend on the population as a whole for finance

　　　d.persuade the banks to provide them with long-term finance

　　　2.the stock exchange makes it possible for the government, local authorities and nationalized industries .

　　　a.to raise money to finance new development

　　　b.to borrow as much money as they wish

　　　c.to make certain everybody lends money to them

　　　d.to make certain everybody saves money

　　　3.the money which enables these companies to go ahead with their projects is .

　　　a.exchanged for part ownership in the stock exchange

　　　b.rapid to its original owners as soon as possible

　　　c.invested in different companies on the stock exchange

　　　d.raised by the selling of shares in the companies

　　　4.when the savers want their money back they .

　　　a.put their shares in the company back on the market

　　　b.ask another company to obtain their money for them

　　　c.transfer their money to a more successful company

　　　d.look for other people to borrow money from

　　　5.all the essential services on which we depend are .

　　　a.financed wholly by taxes

　　　b.run by the government or our local authorities

　　　c.unable to provide for the needs of the population

　　　d.in constant need of financial support

　　　参考答案：

　　　1-5 c a d a d

　　　　　报考：♦2012在职联考科目及时间安排♦准考证17日开始下载 下载入口

　　　　　备考：♦在职联考历年真题♦gct复习规划♦英语大纲及试题结构♦备考技巧

　　　　　辅导：♦环球卓越10月联考辅导♦学苑教育10月联考辅导班♦北大mpa培训

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