Unit 6 Nature in words 外刊撷英-【优学精讲】2024-2025学年高中英语选择性必修第三册教用Word(外研版)

The Value of Money Adapted from https：//fee.org/articles/the­value­of­money/ Most are in agreement that the inflation① in the United States during the past three years has been the worst since the early 1940's. But they cannot agree on the nature of the inflation that is the American economy. This disagreement among economists is more than an academic difference on the meaning of a popular term②. It reflects professional confusion③ as to the cause of the inflation problem. A review of some basic principles④ of economics that are applicable to money may shed light on⑤ the problem. Money is a medium of exchange that facilitates⑥ trade in goods⑦ and services. Wherever people progressed beyond simple barter⑧， they began to use their most goods as media of exchange. In primitive⑨ societies they used cattle, or measures of grain, salt, or fish. In early civilizations where the division of labor extended to larger areas, gold or silver as the most marketable good and finally as the only of exchange, called money. It is obvious that the chieftains⑩， kings, and heads of state did not invent the use of money. The value of money in exchange is called its purchasing power. People seek money because it has purchasing power. The purchasing power of money is by the demand for and supply of money, like the prices of all other economic goods and services. The particular relation between this demand and supply determines its particular purchasing power. As money is a medium of exchange, our demand for it may be influenced by considerations of facts and circumstances either on the goods side of the exchange or on the money side. Therefore, we may speak of goods­induced⑪ factors and money­induced factors. There also are a number of factors that affect the demand for money. A growing population, for instance, with millions of maturing⑫ individuals eager to establish cash holdings⑬， generates new demand, which in turn⑭ tends to raise the purchasing power of money and to reduce goods prices. On the other hand, a declining population would generate the opposite effect. The most important determinant⑮ of purchasing power of money under this heading of “money­induced factors” is the very attitude of the people toward money and their possession of certain cash holdings. They may decide for one reason or another to increase or reduce their holdings. An increase of cash holdings by many individuals tends to raise the exchange value of money, and reduction of cash holdings tends to lower it. In conclusion, as to the value of money, it may happen that the government may temporarily halt⑯ its inflation. Yet the thinking of people also plays a role. ①inflation n．通货膨胀 ②term n．术语 ③confusion n．困惑 ④principle n．原则 ⑤shed light on 使……更容易理解 ⑥facilitate v．促进 ⑦goods n．商品 ⑧barter n．易货贸易 ⑨primitive adj.原始的 ⑩chieftain n．酋长 ⑪induce v．诱使；引起 ⑫mature v．成熟 ⑬holding n．持股 ⑭in turn反过来 ⑮determinant n．决定因素 ⑯halt v．暂停；中止　 答案：1.has been　2.principles　3.that/which　4.as　5.where　6.called　7.growing　8.determinant 9．reduction　10.temporarily 1．economist n.　　　 A．to affect sb./sth. very strongly 2．engulf v. B．a person who studies or writes about economics 3．marketable adj. C．to make sth. happen in a particular way 4．emerge v. D．to start to exist; to appear or become known 5．medium n. E．easy to sell; attractive to customers or employers 6．determine v. F．something that is used for a particular purpose 答案：1～5.BAEDF　6.C What do you think of money? One possible version： Money is necessary but not the aim of our life. If used properly, money is a blessing. We can never put money above all things. And money can not only be spent on oneself. Instead, money is to be spent for the welfare of all human beings. 学科网（北京）股份有限公司 $