2. 外语
  3. Before discussing the effect of deflation and inflation on the distribution of income, it will be useful to【C1】______ these term

Before discussing the effect of deflation and inflation on the distribution of income, it will be useful to【C1】______ these term

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问题     Before discussing the effect of deflation and inflation on the distribution of income, it will be useful to【C1】______ these terms. By inflation we mean a time of generally rising prices of goods and 【C2】______of production, such as wages and rents. By deflation we mean a time 【C3】______ most prices and costs are falling. Neither in inflation nor in deflation【C4】______ prices all move in the same direction or in exactly the same【C5】______.
    【C6】______ inflation favors debtors and profit receivers at the【C7】______of creditors and fixed income receivers. 【C8】______, for example, you lend $1,000 today and are paid back one year from now. If in the【C9】_____ prices have doubled, then your debtor will be paying back only one half【C10】______much real purchasing power as you gave him.
    On the other hand, one who invests in real estate, in common stocks, or in commodities makes a great【C11】______ during times of unforeseen inflation, when the【C12】______of business sales increases greatly, as do prices, between the time that business persons buy and sell their 【C13】______. Fixed or overhead costs remain the same; other costs rise, 【C14】______ not so rapidly as prices. For all these reasons, profits【C15】______— often faster than the cost of living.
    In times of deflation, the situation is 【C16】______. Creditors and fixed income receivers【C17】______ to gain at the expense of debtors and profit receivers. If prices【C18】______between the time that a creditor lends money and is repaid, then he gets back more purchasing power than he lent. Between the time that a merchant buys and sells goods, he will have to take a(n)【C19】______. The school teacher whose pay is not cut, however, finds that his real income has increased.【C20】______, a hoarder finds the real value of her wealth increasing every day as prices fall.
【C7】
选项 A、mercy
B、expense
C、peak
D、risk
答案B
解析 固定搭配题。四个选项都可以与at构成固定搭配：at the mercy of“任凭……摆布，完全受……支配”；at the expense of“在损害……的情况下”；at thepeak of“在……高峰期”；at the risk of“冒着……的危险”。经济学常识告诉我们，通胀损害了贷方和固定收入者的利益，故[B]expense是答案。
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