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Security and Commodity Exchanges
Security and commodity exchanges are trading posts where people meet who wish to buy or sell. The exchanged themselves do no trading; they merely provide a place prospective buyers and selling can meet and conduct their business.
Wall Street, although the best known, is not only the home of the exchanges in the United States. There are the cotton exchanges in New orleans and Chicago; and grain exchanges in many of the large cities of the Midwest. Some exchanges, like the Chicago Board of Trade, provide market services for several kinds of products. These trading posts where products may be bought or sole are called commodity exchanges.
The security exchanges, on the other hand, are meeting places where stocks and bonds are traded. Like the commodity exchanges, they help serve the economic life of the country. But when their operations get out of hand, they may become very dangerous. In 1929, the security exchanges, or stock market, contributed to a crash-a sudden, sharp decline in the value of securities. Many people lost fortunes; many corporations were bankrupted; many workers lost their jobs. The Crash of 1929 has been attributed to many causes, among them wild and unwise speculation by many people and dishonest practices on the part of some businessmen and of some members of the exchanges.
Today, however, investing through security exchanges and trading on commodity exchanges has been made safer by regulations set up by the exchanges themselves and by regulations of the United States government in 1992, the government instituted the Commodity Exchange Commission which operates through the Department of Agriculture; and in 1934, the Securities and Exchange Commission, to protect investors and the public against dishonest practice in the exchanges.
1. Security and commodity exchanges are meeting places for buyers and sellers of ___.
A. stocks B. grain C. securities D. all of these
2. Security exchanges handle___.
A. securities B. grain C. bonds D. both A and C
3. Among the reasons for the Crash of 1929 were ___.
A. unwise speculation by many people
B. dishonest practices by some businessmen
C. strict regulations of the Commodity Exchange Commission
D. both A and B
4. Investing in securities has been made safer by the ___.
A. Security and Exchange Commission
B. Commodity Exchange Commission
C. Chicago Board of Trade
D. Chicago Mercantile Exchange
5. Which of the following is implied but not stated?
A. Some exchanges provide market services for several products.
B. The role of the government has been an important factor in curing dishonest practices on the exchanges.
C. Investing in securities is unwise.
D. Buying and selling is dishonest.
1. D根据第二段和第三段,这一交易所可进行多种交易。
2. D 根据第三段,债券交易所可以进行债券和证券的交易。The security exchanges, on the other hand, are meeting places where stocks and bonds are traded.
3. D根据第三段,The Crash of 1929 has been attributed to many causes, among them wild and unwise speculation by many people and dishonest practices on the part of some businessmen and of some members of the exchanges. 1929年的股市危机是由于许多人投机和一些商人不诚实的行为造成的。
4. A 最后一段,and in 1934, the Securities and Exchange Commission, to protect investors and the public against dishonest practice in the exchanges. 政府建立的证券交易委员会使投资变得更加安全。
5. B 答案A.在文章第二段直接提到了。Some exchanges, like the Chicago Board of Trade, provide market services for several kinds of products. 答案C证券投资是不明智的和答案D买卖双方是不诚实的,这两点在文中都没有提到。
文章中指出了政府的努力来维护正常的交易秩序,暗示了政府在制止不诚实交易行为中所起的重要角色,但并没有在文中直接陈述这一点。
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