新视野大学英语视听说教程第三册Unit10答案（含听力原文）

新视野大学英语视听说教程最新版第三册UnitlO答案（含听

力原文）

BasicListeningPractice

1.Script

W:Letmerecommendmybrothertoyou.He'sreallydone

wellinthestockmarketoverthelastfewyears.

M:Therealquestionisthis:Howhaveyoudinebytakinghis

advice?

Q:Whatdoesthemanmean?

2.Script

M:ManyinvestorsjumponIPOs,hopingtogetrichby

gettingintoastockearlybeforeitgoesup.

W:Butisn'tthatabitlikebuyingabookwithoutreadingit?

Imean,whatifitdoesn7tgoup?

Q:Whatisthewoman7sopinion?

3.Script

W:TheDowwasdownagaintoday.It7shardtomakemoney

whenhighfuelpricesarekillingthestockmarket.

M:There7sstillmoneytobemade.Ifyouboughtoilfutures

threemonthsago,you'dbesmilingrightnow.

Q:Whatcanwelearnfromthedialog?

4.Script

M:Ican'twaittogetbacktomycomputer.Onlineshare

tradinghastotallychangedthestockmarketandthelivesof

investors.HookuptotheInternetandbeyourownbroker!

W:Inotherwordsyoucancutoutthemiddlemannow.For

about$500,youcanopenanaccountandbeginbuyingand

sellingsharesfromyourownhome,24hoursaday.

Q:Whichofthefollowingistrueiftheywanttotradeshares

ontheInternet?

5.Script

M:Holdontoyourhat!We'IIberich.Tmbuyingsharesin

anewcompany.

M:Youcan'tbuyIPOsharesunlessyouhaveabigactive

withabroker.Thedayofdot-comfortunesfromIPOsareover.

Q:Accordingtotheconversation,whatistheconditionfor

buyingIPOshares.

l.D

2.C

3.A

4.B

5.C

ListeningIn

Task1:Tellmeaboutthestockexchange.

Script

George:Ymsupposedtogiveapresentationonthestock

exchange,butIdon'tyetknowathingaboutit.Couldyougive

mesometips?

Diana:Theproblemwithyouisthatyou'veskippedtoo

manyclasses.Now,letmegiveyouafewtips.Firstofall,you

needtodefinethestockexchange.It'sanorganizationof

brokersandinvestmentbankers.InEuropeitisoftencalleda

bourse.

George:Couldyoutellmemoreaboutit?Like,howdoesit

work?

Diana:Itprovidesfacilitiesforthetradingofcompanystocks,

mainlythelocationandtherecord-keepingdevices.

George:CanIgoandtradethere?

Diana:Itdepends.Youhavetobeamemberoftheexchange

beforeyoucanbuyandsellsharesthere.Theycallithaving"a

seat"ontheexchange.

George:Somethingtheyusetheterm"stockmarket".

Diana:Well,thetradingofstockonstockexchangesiscalled

thestockmarket.

George:Howcanacompanybelistedonthestockexchange?

Diana:Ithastomeetcertainrequirements.Tobelistedon

theNewYorkStockExchangelastyear,forexample,acompany

hadtohaveissuedatleastamillionsharesofstockworth$16

andhadtohavehadmorethan$2.5millionnetincome.

George:Wow,that'sahugesum!Smallcompanies

haven'tgotachance.

Diana:Bigcompanieshavemoreinfluenceonthestock

pricesafterall.

George:Iseewhatyoumean.

Stockexchangeathingsometipsdefineinvestmentbankers

Europeamemberstockmarketrequirementsamillionsharesnet

income

Task2:StockbrokerhelpsMr.JunkietoshortScript

ABCstockreached$155."$155"forastockthatshould

bevaluedat$100.Wow!"That'sit,"Isaidtomyself."It's

timeImakeadecision,fmgoingtoshortthatstock?Ithought

tomyself"Thisstockisovervalued.Itcan'tremainatthe

presentlevelforlong.Thismeansmoneyinthebank/

SoIphonedmybroker.

"Iwanttoplaceatrade.Iwanttoshort1,500sharesofABC.

'Tmsorry,Mr.Junkie,"hesaid,"lean'tprocessthatfor

you.Youraccountiscashaccount.Youneedamarginaccountto

shortastock.Icansendyoutheapplicationformoryounearest

financialinstitutiontofillouttheforms."

TheminuteIgotofthephone,Iheardoutthedoorbecause

timeismoney.Irantothefinancialinstitutiontofillouttheform

andsentittothebrokerbyexpressmailservice.NextmorningI

calledhim.

“Hello,itsMr.Junkie.Didyougetmyapplication?

"Yes."

"Great,IwouldliketoshortABCthen."

"Oneminuteplease...Fmsorry,Mr.Junkie,butyounow

needashorter7saccount."

"What!Youmeanthemarginaccountisn'tenough?"

“No,youalsoneedashorter7saccount.Anyfinancial

institutionnearbyhastheforms/

OffIranagain.Icompletedtheformandhadataxideliver

tomybroker.IntheafternoonIcalledagain.

"Hello,it'sMr.Junkie.Iwanttoshort1,500sharesofABC

at$155."

Afewmomentslaterheanswered,"Mr.Junkie,Iamsorry,

butIdon'tthinkthatispossible/"Whynot?"

"Well,thelasttradewentthroughat$99."

F1.ThebrokerdidnotbelieveABCstockcouldremainat

$155forlong.

T2.Mr.Junkiewantedtoshort1,500sharesofABC.

T3.Mr.Junkiecouldgetamarginaccountthrougheithera

financialinstitutionorhisbroker.

T4.Toshortastock,oneneedsbothamarginaccountand

ashorter7saccount.

F5.Mr.Junkieaskedataxidrivertheformsforamargin

accounttothebroker.

Task3:WhoamIifIownstocks?

Script

Whenapersonbuysstocksinacompany,thatperson

becomesashareholderinthatcompany.Stockholderisanother

nameforshareholder.Ashareholdercanalsobecalledan

investorofthecompany.Whenthatcompanymakesmoney,

whichcanalsobecalledearnedincomeorprofit,thevalueofthe

company,sstockoftenincreases.That'sbecausemorepeople

maybecomeinterestedininvestinginthecompany.Sometimes,

shareholdersreceiveadividend,whichispartofthecompany7s

earnedincomes,intheformofacashpayment.

Somepeopletrytomakemoneybybuyingandselling

stocks.Stockpricescanmoveupanddown.Shareholdersmay

makemoneyorlosemoneybysellingstocksthattheyown,

dependingonwhetherthepricehasgoneupordownsincethey

boughttheirshares.Acompany'sstockpricemaybeaffected

bymarketoreconomicconditions.Forexample,let7ssaythat

BCDEnterprisesisasoftwarecompanythathasintroducedanew

videogameintothemarket.Ifthatgameisahit,salesofthe

videogamecouldboostthecompany7searnings.Becauseof

thepotentialforBCDEnterprisestogrow,itsstockmaybe

viewedasanattractiveinvestmentanditsstockpricemaygoup

asmorepeoplebuyitsshares.Ontheotherhand,let7ssaythe

videogamethatBCDEnterprisesintroducedisaflop.Or,itcould

beagoodtime,butBCDintroduceditatatimewhenpeopleare

spendinglessonleisureproducts,andhardlyanyoneisbuying

thegame.SoitsreportedthatBCDislosingmoneybecauseof

thisnewproduct.ThenthestockpriceforBCDEnterprisesmay

godownifanumberofshareholdersdecidetoselltheirshares.

1.Whatisthepassagemainlyconcernedwith?

C)Theinfluenceofshareholders,buyingandsellingona

company.

2.WhichofthefollowingisNOTthesameasashareholder?

B)Apersonsellingsharesonbehalfofothers.

3.Whatmayaffectacompany7sstockprice?

D)Alloftheabove.

4.Accordingtothepassage,whichofthefollowingistrueif

acompany7sproductisgood?

A)Thecompany7sstockpricemaygoup.

5.WhydoesthespeakermentionBCDEnterprises?

D)BCDisusedasanexampletoillustratethestockmarket

principles

SpeakingOut

MODEL1Thestockmarketisdrivenbyfearandgreed.

Chris:Nora!

Nora:HeyChris.Whythebiggrin?Youlooklikethecatthat

swallowedthecanary.

Chris:Evenbetter.AnuncleIhardlyknewpassesawayand

leftaninheritanceof$100,000.SonowI'mthinkingofmaking

someinvestments.

Nora:Goodidea,thouhitwouldbemorefunifwespentit

together.Whatsortofinvestmentdoyouhaveinmind?

Chris:Thestockmarketislookingattractive.It7sbeenabear

marketforseveralyearsnow,andIthinkstockpricesarepretty

depressed.

Nora:Thedeclingmarkethasinvestorsdepressed,too.

Chris:Butallthingsworkincycles.Abearmarketwill

eventuallybefollowedbyabullmarket.Nora:That'ssure,rve

beenreadingthatinvestorsarecomingbacktothemarket,and

thatwilldriveupthevalueofstocks.

Chris:Ibelievethemarketispickingup.

Nora:Butthere'sstillarisk.Wars,weatherproblems—all

theseimpactincestors'confidence.Chris:Iknowwhatyou

mean.Thestockmarketisdrivenbyfearsndgreed.When

investorsarecinfidentodmakingofafortune,theybuy-that's

greedatwork.

Nora:Butalongcomessomethingtoshaketheir

confidence...

Chris:Likeariseininterestrates,forexample,andbingo,

theybecomeafraidthattheymightlosetheirshares,sotheypull

outofthemarket.

NowYourTurn

A:Fvesavedalotofmoneyoverthepastyears,andnow

rdliketoinvestitforaprofit.

B:Whatsortofinvestmentdoyouhaveinmind?

A:Thestockmarketislookingattractive.It'sbeenabear

marketforseveralyearsnow,andIthinkstockpricesarepretty

depressed.

B:Thefallingmarkethasdiscouragedmanyinvestors.

A:Butallthingsworkincycles.Abearmarketwilleventually

befollowedbyabullmarket.

B:Thatstrue.Whenthemarketdoestouchitsbottom,it7II

rebound.

A:Ihopetheinvestorswillsooncomebacktothemarket

anddriveitup.

B:Butthere'restillrisks.Wars,weatherproblems—allthese

affectbuyers'confidence.

We'renotsureifthemarkethasreacheditsbottom.

A:Thebearmarkethaslastedoverfouryears;Ithinkit's

timeforittopickup.

B:Ifsreallyhardtosay.TheJapanesestockmarkethashad

abearrunofabouttenyears.

A:Really?

B:AndwhenNASDAQ能IIfrom5,000pointsto3,000points,

somepeoplebelieveitwasagoldenopportunitytoenterthe

market.Thenthemarketplunged.

A:Sothestockmarketisreallyrisky.Imaylosemoney.

B:Andmaybeevenyourshirts.

A:Well,perhapsFdbetterputmymoneyonthebank.

Thestockhastobelaunched.

Helen:Youknow,thishasbeenaprivatelyownedcompany

sincewefirstopenedlastyearand,tobehonestwithyou,Fm

inclinedinkeepinginthatway.

Bill:Butthemarketischangingrapidly,andweneedtothink

longtermandtakeproactivemeasure;otherwise,we'IIfind

ourselvesbehindthecompetition.

Helen:That'sagoodpoint;perhapsIshouldbemore

open—mindedaboutthis.

Bill:Don'tyouthinkyou'realittleshortoffundsatthe

moment?

Helen:That'strue.

Bill:Yousimplycan'taffordtoupgradeyourfacilities

withoutconsiderableoutsideinvestment.

Thebankwon'tlendyouthemoney.

Helen:Ihaven'ttriedit.

Bill:Evenifitdid,theinterestrateforthatmuchcapitalwould

bemorewecouldafford.rmconvinced,theonlywayto

generatethefundsweneedistogopublic.

Helen:WhatshouldIdothen?

Bill:Aconsultantwillbecominginnextweektoexplainthe

registrationprocedureforanIPO.

Helen:That'sgreatbecauseIwanttohaveathorough

understandingofwhatthisentailsbeforeanydecisionsaremade.

Bill:Theimportantpointisthatyouhavetodemonstrate

you'refinanciallyqualifiedtobelistedonthestockmarket.

NowYourTurn

A:Mr.Smith,thoughyourcompanyhasgrownfastfewyears,

themarketischangingtherapidly.Soyouneedtothinkthelong

termandtakeproactivemeasures;otherwise,you'IIfindit

behindthecompetition.

B:You'requiteright,butcanyoubemorespecificabout

whatwemustdo?

A:Don'tyouthinkyourcompanyisabitshortoffundsto

expandproductionatthemoment.

B:That'sright.

A:Yousimplycan'taffordtoupgradeyourfacilitieswithout

largeexternalinvestments.

B:PerhapsIhavetoborrowmoneyfromthebank.

A:Itwon'tlendyousomuchmoney.

B:Ihaven7ttriedit.

A:Evenifyougotaloan,theinterestrateforlargesumwould

bemorethanyoucanafford.Fmconvinced,theonlywayto

gatherfundsyouneedistogotopublic.

B:WhatshouldIdothen?

A:LetmeexplaintherequirementsforanIPO.

B:Fmallears.Iwanttohaveathoroughunderstandingof

whatthisentailsbeforeImakefurtherdecisions.

A:Theimportantpointisthatyouhavetodemonstratethat

youarefinanciallyqualifiedtobelaunchedonthestockmarket.

Youmustshowyouhaveacapitalof50millionyuan.

B:Ourcompanydoeshavethatamountofmoney.Arethere

otherrequirements?

A:Youhavetoprovethatthecompanyhasbeenmakinga

profitinthepastthreeyears.It'salsoessentialthatthereareno

falsefinancialreports.

B:Ok,noproblem.I'IItrytogothroughtheRegistration

proceduretogetourcompanylisted.

MODEL3Nothingiscertainnthestockmarket

Susan:Hey,Chris,haveyoureadthepapertoday?

Chris:No.why?Whatsup?

Susan:Thestoremarkethasdroppedagain.

Chris:Oh,no!Notagain!Howmanypointsdiditlosethis

time?

Susan:Onehundred.

Chris:Let'ssee...that7sadropofthreepercent.Well,there

goesthemoneyIwasgoingtousetobuyanewcar.

Susan:Beforeyougetupset,Ithinkyoushouldlookatthe

stocklistingsfortoday.

Chris:Whatfor?

Susan:Well,somestocksactuallygained,especiallytelecom

stocks.

Chris:Letmeseethatpaper.You'reright!Mystockwentup

fivepercentovernight!That'sgreat!Susan:Fornow,anyway.It

mayplungetomorrow.

Chris:you'reright.Fmgoingtocallmybrokercashinmy

stocks.Tmnottakinganymorechangeswithmysavings.

Susan:You'rewisherthanmostpeopleIknow.Sometimes

itsbettertoplayitsafe.

NowYourTurn

A:Hey,Jack,Ihearyoubecomeamillionairebyinvestingin

thestockmarket.ButIalwayslosemoneyinthemarket.Canyou

givemeafewtips?

B:Firstofall,let'slookatthestocklistingintoday7s

newspaper.

A:Wow,thestockmarketdroppedagain.

B:Whatstockdidyoubuy?

A:BCD.

B:Howmanypointsdiditlosethistime?

A:Morethanahundred.

B:Let'ssee...That7sadropofnearlyfivepercent.

A:Oh,theregoesalotofmymoney.Fmthinkingabout

pullingoutofthemarket.

B:Beforeyougetupset,Fdliketogiveyousomeadvice.

A:What'sthat?

B:Well,themarketiscyclical.Throughyou'relosingmoney

now,yourstockmaygaininfuture.

Personally,Ibelieveyourstockisagoodone.You'dbetter

keepituntilitgoesuponeday.A:SoIcan'tmakemoneyina

shorttime?

B:Let'slookatXYZstock.It7snowajunkstock,butit's

beenlowforalongtime.Itmayclimbupatanymoment.

A:So,FIIbuyitandwaitforittogoup.

B:Andcashinyourstockwhenitreachesapointthatishigh

enoughtogiveyouaprofit.Mybasicprincipleistobuyatthe

bottomandsellatthepeak.

A:Isee.FIIbuylowandsellhigh.ButwhatifXYZplunges

againafterIbuyit?

B:Youhavetotakechanges.There7salwaysriskinthestock

market.

Let'sTalk

Gregory:I'vebeenthinkingaboutgettingintothestock

market,butIdon'tknowwheretostart.

Whatdoyouknowaboutbuyingstocks?

Sylvia:Well,Ihaveafewinvestments,soIknowalittleabout

it.Nowitisprobablyagoodtimetoinvest.Themarketislow;

pricesareprobablyprettygood.

Gregory:Soyoumeanitshightimetoenterthemarket?

Whatkindofstockdoyousuggest?Sylvia:Iwon'trecommend

anyspecificstock.Youhavetomakethedecisiononyourown.If

youwanttomakemoneyquickly,youcouldtryspeculating.

Gregory:Whatdoyoumeanbyspeculating?

Sylvia:Youbuystocksthatgoupquicklyforafastprofit.

Gregory:Isn'tthatrisky?Stocksthatgoupfastalsotendto

godownfast.

Sylvia:Youjusthavetoguesshowhighthey'IIgo,andthen

sellwhenyouthinktheyareabouttocomedown.Ifyouguess

right,youcanmakelotsofmoneyintheblinkofaneye.Gregory:

ButIhearthatmanypeopleguesswrong.Whentheythinkthe

marketisalreadyverylow,theystarttobuy.Thenthemarket

continuestodrop.

Sylvia:Inthatcaseyouwillloseyourshirt.Buttomakemoney,

youhavetotakechanges.Gregory:Hmm,Fmnotmuchofa

gambler.

Sylvia:Soyouprobablywanttosticktobluechipstocksfor

aguaranteereturnonyourinvestment.

Gregory:Thatsoundsrightupmyalley.

Gregoryisthinkingaboutgettingintothestockmarketand

wantstoknowhowtobuystocks.Sylviasaythemarketislow,so

pricesareprobablyprettygood.

Gregoryseesitishightimetoenterthemarket.

SylviaSuggestspeculating,whichmeansbuyingstocksthat

goupquicklyandthensellingquicklyforafastprofit.

Gregoryfindsitriskybecausestocksthatgoupfastalsotend

togodownfast.

Sylviasaysthathehastoguesshowhightheywillgoand

thensellswhenhethinksthey'reabouttocomedown.

Gregoryhearsthatmanypeopleguesswrong.Whenthey

starttobuy,themarketcontinuestodrop.

Sylviasaysthat,tomakemoney,hehastotakechanges.

Gregoryadmitsthatheisnotmuchofagambler.

Sylviasuggeststhathesticktothebluechipstocksfora

guaranteedreturnonhisinvestment.

Discussion

A:Fmrentinganapartment.Ifyougoonlikethis,FIInever

haveanapartmentofmyown.SoFmthinkingbuyingan

apartment,butIdon'tknowwhetherit7sgoodtimetoinvest

inproperty.

B:SoonitIIbehightimetobuyhouses.There'sbeen

goodnewsforbuyerslately.

A:What'sit?

B:inthelightofthespeculativeinvestmentinrealestate,the

governmenthasrecentlyissuedanumberofrules.Forexample,

thosewhosellnewly—boughtapartmenthavetopayatax.So

probablyfewerpeoplearewillingtospeculateintherealestate

market,andthehousingpriceswilldrop.

A:Ihavetowaitandsee.Iwouldbegladeveniftheprices

justremainstable.Anyothergoodnews?

B:Somepeopleproposebypassingtherealestate

developers.Theywanttopooltheirfundstobuildtheirown

apartmentbuildings.Inthiswaytheycancutthecostsbyabig

margin.

A:Soundsinteresting,thoughI'mnotsureifitspractical.

AboutwhendoyouthinkIshouldbuyanapartment?

B:Prettysoon.Iguessthepriceswillfallsoon.

A:Iwanttoknowexactlywhen.ShallIbuyitnextweekor

nextmonth?

B:Youjusthavetoguesshowlowthepriceswillgo,andthen

buyattherighttime.

A:It'sabitriskybecauseImayguesswrong.AfterIbuyan

apartment,thepricemayplungeagain.

B:Youhavetotakechangesandmakethedecisiononyour

own.

A:Hmm,Tmnotmuchofagambler.PerhapsFIIwaitand

seeandcontinuetoliveintherentedapartment.

B:There7salsoriskinthis.Itsnotaltogetherimpossible

thathousingpriceswillmoveupalittlebit.Ifthat'sthecase,

you'IIhavetopayevenmoreinthefuture.

A:MyGod,thereareriskseverywhere!Soyou'vetoldme

nexttonothing.

FurtherListeningandSpeaking

Taskl:whatdoyouknowaboutNASDAQ?

Astheworld7slargestelectronic,NASDAQisnotlimitedto

onetradinglocation.Rather,tradingisexecutedthrough

NASDAQ'scomplexcomputerandtelecommunicationnetwork,

whichsendsreal—timequoteandtradedatatomorethan1.3

millionusersin83countries.Withoutsizeandlocation

limitations,NASDAQ7sopenmarketstructureallowsavirtually

unlimitednumberofparticipantstotradeinacompany7sstock.

Today,NASDAQliststhesecuritiesofnearly4,100ofthe

world'sleadingcompanies,andeachyearitcontinuestohelp

hundredsofcompaniesgopublic.

TradingonNASDAQisnotlimitedtoanyfixednumberof

participants.Thisallowsalargenumberoffirmswithwidely

differentbusinessmodelsandtradingtechnologiestoconnect

totheNASDAQnetworkandcompeteonanequalbasis.Rather

thanforcinginvestorstogothroughasinglefinancialfirmscalled

makers.Morethan500marketmakingfirmstradeonNASDAQ,

actingaddistributorsforNASDAQ-listedsecurities.Those

marketmakersareuniqueinthattheyinvestowncapitalin

NASDAQ-listedsecurities,andthenturnaroundanddistribute

thestockasneeded.Theyarerequiredatalltimestoposttheir

bidandaskpricesintheNASDAQnetworkwheretheycanbe

viewedbyallparticipants.Bybeingwillingtobuyorsellstock

usingtheirownfunds,themarketmakersstrengthen

NASDAQ'smarket,ensuingthattherearealwaysbuyersand

sellersforNASDAQ-listedsecuritiesandenablingtradestobe

filledquicklyandefficiently.

1.HowmanyparticipantsdoesNASDAQallowtotradein

onecompany'sstock?

D)Anunlimitednumber.

2.WhatdoesNASDAQ7scomputerand

telecommunicationsnetworkdo?

C)Itimmediatelysendsquoteandtradeinformationtoover

1.3millionusers.

3.Accordingtothepassage,whichofthefollowingistrueof

NASDAQ?

A)Ithaslaunchedmorethan4,000companies.

4.Whatroledothemarketmakersplay?

B)TheybuyandsellNASDAQstockstohelpstrengthenthe

market.

5.Whichofthefollowingisthebesttitleforthepassage?

A)TheoperationofNASDAQ.

Task2:StockbrokerasLiquidator

Inthemidstoftheshakymarketoflastweek,manybrokers

gotcallsfromtheirclientsrequestingtheyselltheirshares.One

brokertoldsuchastory:

OneofmyclientscalledmeonThursday.Hewasanxiousand

outofbreath,andspokewithgreaturgency.

Hesaidtome,"Jone,sellitall.Selleverything,fast,right

away."

Itriedtoexplaintohimthatthemarketwascyclical,andthat

inthelongtermstockswouldreturntonormal.

Hesaid,John,letmetellyouasecret.YouknowFvebeen

marriedforsixtyyearsnow,andFvebeenyourclientforfive.”

"Yes,goon."Isaidencouragingly.

"Well,mywifeLuciehasasortofphobiaaboutthemarket.

Whenwegotmarried,IpromisedherthatIwouldfollowinher

parents7footstepsandneverventureintothestockmarketand

alwaysleaveallourmoneyunderthemattress.Hergreat

grandparentsoncelosteverythinginagreatcrash,andeversince

thenherfamilyfoundinvestinginthemarketsimilartocrime.”

"Wow,Howard,Ididn,tknowthat.Iguessyouwantthe

moneybecausethemarketisgoingdown/

"No,John,Iwantthemoneybecausesheorderedanew

mattress,anditisbeingdeliveredintwodays."

Task3:AStockMarketCrash

Astockmarketcrashisadramaticlossofsharesof

corporations.Crashesoftenfollowspeculativestockmarket

bubblessuchasthedot-comboom.

Afterthemostfamo