大学英语四级考试模拟试卷
Part Ⅰ Writing
Directions:For this part, you are allowed 30 minutes to write a letter of advice to your cousin about how to spend the first winter holiday in college. You should write at least 120 words following the outline given below.
1、现在网上购物已成为一种时尚
2．网上购物有很多好处，但也有不少问题
3．我的建议
Part Ⅱ Reading Comprehension (Skimming and Scanning)
Exchange Rates：A Brief History of Exchange Rates
For centuries，the currencies of the world were backed by gold．That is，a piece of pap
饺子的来历er currency issued by any world government reprented a real amount of gold held in a vault by that government．In the 1930s，the U.S.t the value of the dollar at 8 single，unchanging level：l ounce of gold was worth $35．After World War II，other countries bad the value of their currencies on the U.S.dollar．Since everyone knew how much gold a U.S.dollar was worth，then the value of any other currency against the dollar could be bad on its value in gold．A currency worth twice as much gold as a U.S.dollar was，therefore，also worth two U.S.dollars．
关于狼的成语
Unfortunately，the real world of economics outpaced this system．The U.S.dollar suffered from inflation(its value relative to the goods it could purcha decread)，while other currencies became more valuable and more stable．Finally，in 1971，the k away the gold standard altogether．This meant that the dollar no longer reprented an actual amount of a precious substance-market forces alone determined its value．
安全板报 Today，the U.S.dollar still dominates many financial markets．In fact，exchange rates
are often expresd in terms of U.S.dollars．Currently，the U.S.dollar and the euro account for approximately 50 percent of all currency exchange transactions in the world．Adding British pounds，Canadian dollars，Australian dollars，and Japane yen to the list accounts for over 80 percent of currency exchanges altogether．
Methods of Exchange：the Floating Exchange Rate
There are two main systems ud to determine a currency's exchange rate：floating currency and pegged currency．The market determines a floating exchange rate．In other words，a currency is worth whatever buyers are willing to pay for it．This is determined by supply and demand，which is in turn driven by foreign investment，import/export ratios，inflation，and a host of other economic factors．
Generally，countries with mature，stable economic markets will u a floating system．Virtually every major nation us this system，including the U.S.，Canada and Great Britain．Floating exchange rates are considered more efficient，becau the market will automatically correct the rate to reflect inflation and other economic forces．
The floating system isn't perfect，though．If a country's economy suffers from instability，a floating system will discourage investment．Investors could fall victim to wild swings in the exchange rates，as well as disastrous inflation． 致我们失去的青春
Methods of Exchange：the Pegged Exchange Rate 生日快乐成语
作文纸打印
A pegged，or fixed system，is one in which the exchange rate is t and artificially maintained by the government．The rate will be pegged to some other country's dollar，usually the U.S.dollar．The rate will not fluctuate from day to day． 煎馒头
A government has to work to keep their pegged rate stable．Their national bank must hold large rerves of foreign currency to mitigate changes in supply and demand．If a sudden demand for a currency was to drive up the exchange rate，the national bank would have to relea enough of that currency into the market to meet the demand．They can also buy up currency if low demand is lowering exchange rates．
Countries that have immature，potentially unstable economies usually u a pegged s
三文鱼的最佳吃法ystem．Developing nations can u this system to prevent out-of-control inflation．The system can backfire，however，if the real world market value of the currency is not reflected by the pegged rate．In that ca，a black market may spring up，where the currency will be traded at its market value，disregarding the government's peg．
When people realize that their currency isn’t worth as much as the pegged rate indicates，they may rush to exchange their money for other，more stable currencies．This can lead to economic disaster，since the sudden flood of currency in world markets drives the exchange rate very low．So if a country doesn't take good care of their pegged rate，they may find themlves with worthless currency．
Methods of Exchange：Hybrids
In reality，few exchange rate systems are 100 percent floating，or 100 percent pegged.Countries using a pegged rate can avoid market panics and inflationary disasters by using a floating peg．They peg their rate to the U.S.dollar，and that rate doesn't fluctuate from day to day．However，the government periodically reviews their peg，an
d makes minor adjustments to keep it in line with the true market value。
