首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Suppose you are driving on a highway with three lanes going in your direction and you come upon a toll plaza with six toll booth
Suppose you are driving on a highway with three lanes going in your direction and you come upon a toll plaza with six toll booth
admin
2012-08-05
72
问题
Suppose you are driving on a highway with three lanes going in your direction and you come upon a toll plaza with six toll booths. Three toll booths are straight ahead in the three lanes of traffic, and the three other booths are off to the right. Which lane should you choose? There are usually enough people searching for the shortest line so as to make all the lines about the same length.
The term profit in economics has a very precise meaning. Economists, however, often loosely refer to "good deals" or profitable ventures with no risk as profit opportunities. Using the term loosely, a profit opportunity exists at the toll booths if one line is shorter than the others. The general view of economics is that profit opportunities are rare. At any one time there are many people searching for such opportunities, and as a consequence few exist.
At major banks in big cities, you can buy foreign currencies. The prices of these currencies are determined in world money markets. With dollars we can buy marks; with these marks we can buy francs; and with these francs we can buy back dollars. Can we make money on this transaction? If this is possible, we say that there are profit opportunities in the market. There are in fact almost never any profit opportunities of this kind in foreign currency markets. There are always individuals looking for such opportunities, and if any opportunity does arise it is quickly eliminated.
If, for example, the mark-franc price is too low with respect to the other prices, there is an immediate rush to buy marks and sell francs, not by ordinary citizens at bank windows, but by a few large currency traders in Tokyo, London, or Zurich who watch prices every minute. Such a rush drives up the mark-franc price to the no-profit-opportunity point. Markets like this, where any profit opportunities are eliminated almost instantaneously are said to be efficient markets.
The common language way of expressing the efficient markets hypothesis is "there’s no such thing as a free lunch". How should one react when a stock broker calls up with a hot tip on the stock market? With skepticism. There are thousands of individuals each day looking for hot tips in the market, and if a particular tip about a stock is valid there will be an immediate rush to buy the stock, which will quickly drive its price up. By the time the tip gets to your broker and then to you, the profit opportunity that arose from the tip (assuming that there was one) is likely to have been eliminated. Similar arguments can be made for bond markets and commodity markets. They are many "expert" in these markets, who take quick advantage of any news that affects prices.
This economist’s view that there are very limited profit opportunities around can, of course, be carried too far. There are clearly times when profit opportunities exist. Someone has to be first to get the news, and some people have quicker insights than others. Nevertheless, news does get disseminated quickly, and there are thousands of people with quick insights. The general view that profit opportunities are rare is close to the mark.
The author seems to compare the toll booths to
选项
A、profit opportunities.
B、the market.
C、the investors.
D、profit.
答案
B
解析
推断题。作者举收费站的例子是为了说明文章的主题:获利机会很少。结合第2段第3句,可以推断,作者把收费站比作市场,把收费站的车道比作获利机会,把驾驶者比作投资者,由此可见,只有选项B符合题意。
转载请注明原文地址:https://kaotiyun.com/show/qZmK777K
0
专业英语四级
相关试题推荐
AlthoughIaminperfecthealth,andinpossessionofavalidclass-oneCaliforniadrivinglicense,Iamrunning【C1】______prob
AlthoughIaminperfecthealth,andinpossessionofavalidclass-oneCaliforniadrivinglicense,Iamrunning【C1】______prob
AlthoughIaminperfecthealth,andinpossessionofavalidclass-oneCaliforniadrivinglicense,Iamrunning【C1】______prob
BenjaminFranklinwasthegreatestearlyAmericanleadernevertobecomepresidentoftheUnitedStates,butheservedinmanyo
Federaleffortstoaidminoritybusinessesbeganinthe1960’swhentheSmallBusinessAdministration(SBA)beganmakingfederal
Theleaderisnolongerthewiseandsensibleman____hewas.
Withthedevelopmentoftheglobaleconomy,manycompaniesengageinaworldwidemanufacturingbusinessandclaimtheyareamul
Withthedevelopmentoftheglobaleconomy,manycompaniesengageinaworldwidemanufacturingbusinessandclaimtheyareamul
Withthedevelopmentoftheglobaleconomy,manycompaniesengageinaworldwidemanufacturingbusinessandclaimtheyareamul
随机试题
下述哪一项与肾的排泄功能无关
关于急性失血患者的输血问题,下列叙述中观念错误的是
某护士在临床带教老师的指导下,正在进行无菌技术操作,其任务是铺无菌盘及戴无菌手套。戴无菌手套时,错误的一项是
患者,男,35岁。儿时曾患麻疹、肺炎,被诊断为支气管扩张症10余年,近1周来咳嗽、咳痰加重,痰呈脓性,每日约500ml,伴低热。针对支气管扩张症的最主要的护理问题,对胡先生采取哪种护理措施最有效
路基压实度的常用检测方法有()。
社会消费基金包括的项目有()。
OPT管理思想具体体现在生产排序原则上,下面哪一条是其中的原则之一()。
在保证合同中.当事人约定了保证范围和保证期间,但当事人对保证方式没有约定的情况下,下列关于保证人责任的表述正确的是()。
Peopleare,onthewhole,pooratconsideringbackgroundinformationwhenmakingindividualdecisions.Atfirstglancethismigh
某带链队列初始状态为front=rear=NULL。经过一系列正常入队与退队操作后,front=10,rear=5。该队列中的元素个数为
最新回复
(
0
)