Question

How Interest Rates Affect Spending

With every loan, there is a possibility that the borrower will not repay the money. To compensate lenders for that risk, there must be a reward: interest. Interest is the amount of money that lenders earn when they make a loan that the borrower repays, and the interest rate is the percentage of the loan amount that the lender charges to lend money.

The existence of interest allows borrowers to spend money immediately, instead of waiting to save the money to make a purchase. The lower the interest rate, the more willing people are to borrow money to make big purchases，such as houses or cars. When consumers pay less in interest，this gives them more money to spend, which can create a chain effect of increased spending throughout the economy. Businesses and farmers also benefit from lower interest rates, as it encourages them to make large equipment purchases due to the low cost of borrowing. This creates a situation where output and productivity increase.

Conversely, higher interest rates mean that consumers don’t have as much disposable (可支配的) income and must cut back on spending. When higher interest rates are coupled with increased lending standards, banks make fewer loans. This affects not only consumers, but also businesses and farmers, who cut back on spending for new equipment, thus slowing productivity or reducing the number of employees. The tighter lending standards mean that consumers will cut back on spending, and this will affect many businesses1 bottom lines. This will cause the businesses to reduce the number of employees that they have and to hold off on any major equipment purchases.

1.What is interest?

A. The amount of money the borrowers earn.

B. The percentage of the loan amount.

C. A sum of money repaid by lenders.

D. A charge made for borrowing money.

2.What will happen when the interest is low?

A. Houses and cars will be more expensive.

B. People will make purchases by saving money.

C. Big purchases will cost more money.

D. Spending will be encouraged.

3.Which of the following can best replace the underlined word “conversely” in Paragraph 3?

A. Above all.    B. Most importantly.

C. On the contrary.    D. In fact.

4.What will be a possible result of the higher interest rate?

A. More new equipment will be purchased.    B. Productivity will be increased.

C. Banks will make more loans.    D. Some people will lose their jobs.

Answer

1.D

2.C

3.C

4.D

【解析】文章讲述了利率如何影响支出。低利率促进人们消费而高利率下，人们没有太多的可支配收入，必须削减开支。这不仅影响消费者，而且影响企业和农民，他们减少了对新设备的支出，从而减缓了生产率或减少了员工数量。

1.细节理解题。根据“Interest is the amount of money that lenders earn when they make a loan that the borrower repays.”利息是货币所有者因为发出贷款而从借款者手中获得的报酬。故选D。

2.细节理解题。根据第二段“The lower the interest rate, the more willing people are to borrow money to make big purchases”利率越低，人们越愿意借钱购买大件商品。故选C。

3.词义猜测题。第二段主要讲述了低利率促进人们消费；第三段讲述高利率下，人们没有太多的可支配收入，必须削减开支。可推知conversely为“相反”的意思。故选C。

4.推理判断题。根据第三段中“This affects not only consumers, but also businesses and farmers, who cut back on spending for new equipment, thus slowing productivity or reducing the number of employees.” 这不仅影响消费者，而且影响企业和农民，他们减少了对新设备的支出，从而减缓了生产率或减少了员工数量。可知利率提高后会造成人们失业。故选D。

【名师点睛】推理判断型

推理判断题属于高层次阅读理解题。这种题型包括判断题和推理题。这两类题常常相互依存，推理是为了得出正确的判断，正确的判断又依赖于合乎逻辑的推理。做好该题型要从整体上把握语篇内容，在语篇的表面意义与隐含意义、已知信息与未知信息间架起桥梁，透过字里行间，去体会作者的“弦外之音”。推理判断题常常可以分为如下几类：(1)细节推断。如时间、地点、人物关系等；(2)逻辑推断。根据已知的结果推断导致结果产生的可能原因；(3)目的、意图、态度推断。根据文章的论述，推断作者的写作目的以及作者的情感态度；(4)预测想象推断。文章没有明确说明，要求根据语篇对文章可能涉及的内容进行预测判断。例如：本题中的第4小题：

【解题剖析】此题属于推理判断型中的（3）目的、意图、态度推断。根据文章的论述，推断作者的写作目的以及作者的情感态度。

【答案定位】根据第三段中“This affects not only consumers, but also businesses and farmers, who cut back on spending for new equipment, thus slowing productivity or reducing the number of employees.” 这不仅影响消费者，而且影响企业和农民，他们减少了对新设备的支出，从而减缓了生产率或减少了员工数量。可知利率提高后会造成人们失业。