2010年11月GMAT閱讀機(jī)經(jīng)(至11.7)之二
1.1.3 CEO★
V1 【by： sky7115】
第一篇想起來了，是說公司board對(duì)于CEO的態(tài)度，說政府的方法 premature（不認(rèn)識(shí)，就知道m(xù)ature）（有考點(diǎn)），board要自己做好（有考點(diǎn)）。然后分析了一下為啥board在這事兒上不行，因?yàn)樗麄?content CEO工資和同類公司的比較。最后提了一個(gè)解決方案，說注重long-term和short-term的啥啥（好像是stock）（當(dāng)時(shí)我還聯(lián)想了產(chǎn)業(yè)組織理論中所有權(quán)和經(jīng)營權(quán)分離的激勵(lì)措施，原諒我做題愛走神）。
V2 【by： leaderkun】
GWD的原題 但是今天考試時(shí)印象中好像將順序變了 但是答案內(nèi)容沒有變
原文搜索：chinamerica，（已確認(rèn)）
GWD 26-Q14 to Q16
Although recent censure of corporate boards of directors as “passive” and “supine” may be excessive， those who criticize board performance have plenty of substantive ammunition. Too many corporate boards fail in their two crucial responsibilities of overseeing long-term company strategy and of selecting， evaluating， and determining appropriate compensation of top management. At times， despite disappointing corporate performance， compensation of chief executive officers reaches indefensibly high levels， nevertheless， suggestions that the government should legislate board reform are premature. There are ample opportunities for boards themselves to improve corporate performance.
Most corporate boards’ compensation committees focus primarily on peer-group comparisons. They are content if the pay of top executives approximates that of the executives of competing firms with comparable short-term earnings or even that of executives of competing firms of comparable size. However， mimicking the compensation policy of competitors for the sake of parity means neglecting the value of compensation as a means of stressing long-term performance. By tacitly detaching executive compensation policy from long-term performance， committees harm their companies and the economy as a whole. The committees must develop incentive compensation policies to emphasize long-term performance. For example a board’s compensation committee can， by carefully proportioning straight salary and such short-term and long-term incentives as stock options， encourage top management to pursue a responsible strategy.
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Q14
According to the passage， the majority of compensation committees put the greatest emphasis on which of the following when determining compensation for their executives？
A. Long-term corporate performance
B. The threat of government regulation
C. Salaries paid to executives of comparable corporations
D. The probable effect the determination will have on competitors
E. The probable effect the economic climate will have on the company
--------------------------------------------------------------------
Q15
The passage suggests which of the following about government legislation requiring that corporate boards undergo reform？
A. Such legislation is likely to discourage candidates from joining corporate boards.
B. Such legislation is likely to lead to reduced competition among companies.
C. The performance of individual companies would be affected by such legislation to a greater extent than would the economy as a whole.
D. Such legislation would duplicate initiatives already being made by corporate boards to improve their own performance.
E. Corporate boards themselves could act to make such legislation unnecessary.
--------------------------------------------------------------------
Q16
Which of the following best describes the organization of the passage？
A. A problem is acknowledged， the causes are explored， and a solution is offered.
B. A question is raised， opposing points of view are evaluated， and several alternative answers are discussed.
C. A means of dealing with a problem is proposed， and the manner in which a solution was reached is explained.
D. A plan of action is advanced， and the probable outcomes of that plan are discussed.
E. Two competing theories are described and then reconciled.
1.1.4 check支付方式★△
V1 【by： tracytx121】
還有一個(gè)貌似也是現(xiàn)象解釋 一屏半好像 就是說check的使用率很高，雖然它的什么social cost大， 在其他的什么支付方式都被更普遍使用的時(shí)候，check的使用率還是居高不下。后面就是解釋。.有一個(gè)什么conventional explanation說balabalabala.。另一段好像是另外一個(gè)解釋。
V2 【by： 伍月 690】
第三篇是說check為什么還是那么popular的，提到了一個(gè)關(guān)于float的東西。
V3 【by： tent1985】
第一段是說，現(xiàn)在電子化的支付方式很多，但是paper check 還是很受歡迎，占80%什么的
第二段，講paper check多說明市場不健康，似乎稍微講了點(diǎn)原因
第三段，重點(diǎn)說這個(gè)paper check的弊端吧，writer怎么樣怎么樣，可是拿利息，不用承擔(dān)什么什么風(fēng)險(xiǎn)
第四點(diǎn)，駁斥了上面的理論，說現(xiàn)在對(duì)一些大的check，第三段里講的吃虧的那一方也是rational的，會(huì)爭取利益
V4 【by： gillian0404 670】
閱讀：閱讀第一篇我是講pay check的。。JJ里面內(nèi)容比較全。大家原諒我的記憶力把@~》《 第一段是給出一個(gè)現(xiàn)象說現(xiàn)在許多人都用電子的card之類的神馬東西結(jié)賬，但是check還是很有市場。
第二段ms是說，pay check。。。。。的writer 好像可以take advantage of 神馬東東，但是check receiver跟他不同，，，呃。。具體啥不同。
V5 【by： julycloud 760】
第三篇也是狗狗，就是check 那篇，狗狗也很詳細(xì)，不想說了，我覺得雖然三段都在說check 使用普遍（the failure ）的原因，但重點(diǎn)應(yīng)該是最后一段作者對(duì)這種傳統(tǒng)的認(rèn)為float可以帶來 利潤的批判。它給出了原因，1因?yàn)榧夹g(shù)提高（高亮，有題--作用是減少從寫到收的時(shí)間，確定是這個(gè)呵呵） 2 當(dāng)量較大時(shí)，receiver可以采取行動(dòng)以減少float產(chǎn)生的損失--和writter商量（有題） 所以大家要多注意下最后一段呵呵
原文搜索： chinamerica
狗主人：（kking v37）是這個(gè)原文沒錯(cuò)，前三段一樣，如果我沒記錯(cuò)的話，后面還有，應(yīng)該是講質(zhì)疑第三段傳統(tǒng)觀點(diǎn)的。
Despite the growing availability and acceptance of electronic payment instruments—such as credit cards， debit cards， and automated clearinghouse （ACH） payments—by far the most popular noncash payment instrument used in the United States is the paper check. In 1995， approximately 80 percent of all noncash transactions were made by check （Bank for International Settlements， forthcoming）。 Furthermore， although use of electronic instruments has grown in the past several years， check use has grown as well： between 1987 and 1993， the average annual number of payments per capita increased by 26 payments for electronic instruments， but by 31 payments for checks （Humphrey， Pulley， and Vesala， forthcoming）。 Clearly， individuals and businesses are not rapidly shifting away from checks to electronic instruments.
The popularity of checks persists even though checks cost society more to produce and process than do electronic instruments. According to standard economic theory， that may be a sign that the market for payment instruments is not working properly. In general， in an efficient market， when competing goods are available and one costs societymore， the prices of the goods will reflect the relative costs of the resources used to produce them， and the cheaper good will be substituted for the more expensive. In this way， society uses its resources to produce only the particular goods it wants in the particular amounts it wants. In other words， resources are used efficiently. When use does not shift to the cheaper good， either the goods are not close substitutes or the market has failed， and there is a potential role for a public authority to attempt to correct the failure.
Market failure is a commonly accepted view of what’s happened in the market for payment instruments. According to this view， the users of checks are the check writers. And for those individuals and businesses， the private cost， or price， of using checks has been distorted by the value of check float， or the time between the writing and clearing of a check. During that time， of course， the funds can earn interest for the check writer rather than for the check receiver. The size of this benefit is thought to have reduced the price of check use below the cost to society of producing and processing checks. Since individuals and businesses
don’t face that higher social cost， they continue to use checks despite the existence of other means of payment that are less costly to society. In short， checks are overused.
第四段文字：by： yali9777 可供參考，待確認(rèn)！
That view is suspect even if the data still supported it，
though. The view seems to assume that only the agent on
one side of a transaction—the check writer—recognizes
and takes advantage of the value of float. That assumption
doesn’t correspond with expected rational behavior. Since
float is a transfer payment from the check receiver to the
check writer， with no allocative effects overall， rational
agents are likely to negotiate a mutually beneficial distribution
of any significant value of float.7 And， in fact， this
type of negotiation is common for large payments between
businesses， for which the value of float is potentially large.
In practice， many business-to-business payments contractually
stipulate payment transaction terms that internalize the
effects of float.
考古 beatG 待確認(rèn)
V1
四大段。我感覺有兩屏。是說check的事情。雖然現(xiàn)在技術(shù)發(fā)達(dá)啊什么的，但是paper check還是主要被美國人應(yīng)用。后面見了新老觀點(diǎn)對(duì)比。有道主旨題。看見之后我異常的冷靜，因?yàn)楫?dāng)時(shí)已然還剩20分鐘了，急也沒用么，我只讀了第一段和每段的首句，還是讀懂了大概，然后看題帶進(jìn)去找了細(xì)節(jié)，3道細(xì)節(jié)題，其中很多無關(guān)選項(xiàng)的，穩(wěn)住了，相信自己的能力。
V2
還有個(gè)支票的使用，說都有信用卡了，很多人還是喜歡用支票，有人認(rèn)為支票造成market failure 。 提到了一個(gè)概念： check float 意思是寫支票和兌換的時(shí)間差， 寫支票的人靠這個(gè)時(shí)間差獲得利益，收支票的現(xiàn)在也明白了這個(gè)利益，所以會(huì)在談生意時(shí)和對(duì)反談這個(gè)問題 （我寫的這些都是有題的?。?BR> V3
主題：支票 最長的一篇，四段。
第一段：雖然其他流通方式越來越多，支票仍然占據(jù)主要地位。
第二段：其實(shí)這種現(xiàn)象是不正常的。因?yàn)橹钡纳鐣?huì)成本（生產(chǎn)成本，流通成本）比其他方式高。根據(jù)一種理論，有競爭的產(chǎn)品，如果其成本很高，會(huì)被其他成本低的產(chǎn)品取代。但支票卻不是這樣。
第三段：解釋：古老理論認(rèn)為是市場失敗。由于開支票的人能夠從支票的流通中獲利（從支票開出到兌現(xiàn)的時(shí)間差可以產(chǎn)生利息）使得他們支付的成本被降低。另外，開支票者不需要直接支付社會(huì)成本（有題），所以仍然使用支票。
第四段：反對(duì)上述理論。認(rèn)為這種利息很小，可以忽略。另外，上述理論家假設(shè)只有開支票方知道利用這種利息，而實(shí)際上，如果這種收益足夠大的話，接受支票的一方也會(huì)通過談判要求共盈（有題）。
V4
私人支票（personal cheque）的。
第一段說，信用卡電子卡什么的很方便，不用刷卡的人花錢買，社會(huì)生產(chǎn)花費(fèi)（social production cost）低。私人支票要印，這樣社會(huì)生產(chǎn)花費(fèi)（social production cost高，又要開支票的人花錢買，為什么私人支票還是那么流行呢？
第二段介紹說經(jīng)濟(jì)學(xué)中有個(gè)理論就是，在正常的市場下，如果一個(gè)東西比另一個(gè)東西便宜，便宜的那個(gè)會(huì)取代貴的那個(gè)。如果取代這件事情沒發(fā)生，那么就是market failure。個(gè)人支票沒被電子卡取締就是個(gè)market failure。
第三段說舊的理論觀點(diǎn)認(rèn)為，大家認(rèn)為個(gè)人支票還流行的原因就是因?yàn)橘I支票的時(shí)間比用完一本支票的時(shí)間短（買就一瞬間的事情，用完一本支票要好久）。還說了一個(gè)inflator還是inflation的東西，忘了。雖然私人支票的社會(huì)生產(chǎn)花費(fèi)高，但是個(gè)人使用私人支票的花費(fèi)因?yàn)槟莻€(gè) inflation/inflator會(huì)降低。這樣個(gè)人使用私人支票的花費(fèi)小于社會(huì)生產(chǎn)花費(fèi)，所以大家還在繼續(xù)用私人支票。
第四段說有一種新觀點(diǎn)要反駁舊觀點(diǎn)，因?yàn)閷?shí)際上那個(gè)inflator/inflation現(xiàn)在已經(jīng)沒有那么大的影響力了。而且私人支票的benefit只有寫支票的 （cheque writer）能得到。所以在很多商業(yè)往來中，如果inflator/inflation高，收支票的（cheque receiver）會(huì)和寫支票的討價(jià)還價(jià)，希望也能享受到私人支票的benefit。
V5
3. 講美國支票的問題，寂靜里面已經(jīng)很清楚了，這里補(bǔ)充一些。
第一段大概就是講米國支票用得很普遍，大概占了大家80％用來付帳得業(yè)務(wù)量，雖然其他的業(yè)務(wù)，比如電子帳務(wù)等在增長，支票還是占很重要作用。
第二段講了一些關(guān)于經(jīng)濟(jì)學(xué)上的東東，說支票這個(gè)東西還要耗費(fèi)一些社會(huì)成本。而經(jīng)濟(jì)學(xué)規(guī)律上來說，一些便宜的東東會(huì)取代那些有成本的，如果沒有，比如支票這個(gè)事情，它沒有被沒有成本的電子帳務(wù)和信用卡等東西取代，那就說明這是一個(gè)Market failure.
第三段講了一個(gè)老觀點(diǎn)，就是說支票為什么沒被取代，是因?yàn)橹焙灠l(fā)到兌現(xiàn)會(huì)產(chǎn)生一個(gè)check float，能給使用支票的人帶來好處。而且好像因?yàn)槟撤N原因（記不清楚了）支票的使用只帶來社會(huì)成本，而不會(huì)給支票使用者帶來成本，所以他們一直用，盡管這違背市場規(guī)律。（此處有題目）
然后作者對(duì)這種這種觀點(diǎn)提出了質(zhì)疑，說因?yàn)榭萍歼M(jìn)步還是啥子的，支票現(xiàn)在從簽發(fā)到兌現(xiàn)的時(shí)間已經(jīng)很快了，產(chǎn)生的這種check float利益很小。而且就算這個(gè)利益很大的時(shí)候（比如大筆錢的支票），支票接受方也會(huì)考慮這個(gè)利益，通過談判來分享這個(gè)利益。（此處有題目）
這里補(bǔ)充幾個(gè)題目
1） 作者提到了現(xiàn)在因?yàn)榭萍嫉倪M(jìn)步，支票的簽發(fā)與兌現(xiàn)很快了，是為什么
有兩個(gè)糾結(jié)一點(diǎn)的選項(xiàng)，我選了B
A. 是為了說明支票從簽發(fā)到兌現(xiàn)的時(shí)間縮短了
B. 是為了說明支票從開出到兌現(xiàn)產(chǎn)生的float的經(jīng)濟(jì)效益沒用這么大了
2） 對(duì)那些支持第三段中老觀點(diǎn)的人來說，以下哪個(gè)選項(xiàng)是正確的
我選了這個(gè)：
因?yàn)槟撤N原因（記不清楚了）支票的使用只帶來社會(huì)成本，而不會(huì)給支票使用者帶來成本，所以他們一直用
3） 從這個(gè)文章可以infer出支票接受者對(duì)支票產(chǎn)生的check float的態(tài)度？
我選了這個(gè)：
支票接受者會(huì)通過談判來保護(hù)自身的利益（也就是要求分享check float）
4） 這篇文章的主旨是什么
我選了這個(gè)：
解釋了為什么支票一直還在使用的幾個(gè)原因回憶起最后篇文章，添加于此，
1.1.3 CEO★
V1 【by： sky7115】
第一篇想起來了，是說公司board對(duì)于CEO的態(tài)度，說政府的方法 premature（不認(rèn)識(shí)，就知道m(xù)ature）（有考點(diǎn)），board要自己做好（有考點(diǎn)）。然后分析了一下為啥board在這事兒上不行，因?yàn)樗麄?content CEO工資和同類公司的比較。最后提了一個(gè)解決方案，說注重long-term和short-term的啥啥（好像是stock）（當(dāng)時(shí)我還聯(lián)想了產(chǎn)業(yè)組織理論中所有權(quán)和經(jīng)營權(quán)分離的激勵(lì)措施，原諒我做題愛走神）。
V2 【by： leaderkun】
GWD的原題 但是今天考試時(shí)印象中好像將順序變了 但是答案內(nèi)容沒有變
原文搜索：chinamerica，（已確認(rèn)）
GWD 26-Q14 to Q16
Although recent censure of corporate boards of directors as “passive” and “supine” may be excessive， those who criticize board performance have plenty of substantive ammunition. Too many corporate boards fail in their two crucial responsibilities of overseeing long-term company strategy and of selecting， evaluating， and determining appropriate compensation of top management. At times， despite disappointing corporate performance， compensation of chief executive officers reaches indefensibly high levels， nevertheless， suggestions that the government should legislate board reform are premature. There are ample opportunities for boards themselves to improve corporate performance.
Most corporate boards’ compensation committees focus primarily on peer-group comparisons. They are content if the pay of top executives approximates that of the executives of competing firms with comparable short-term earnings or even that of executives of competing firms of comparable size. However， mimicking the compensation policy of competitors for the sake of parity means neglecting the value of compensation as a means of stressing long-term performance. By tacitly detaching executive compensation policy from long-term performance， committees harm their companies and the economy as a whole. The committees must develop incentive compensation policies to emphasize long-term performance. For example a board’s compensation committee can， by carefully proportioning straight salary and such short-term and long-term incentives as stock options， encourage top management to pursue a responsible strategy.
------------------------------------------------------------------
Q14
According to the passage， the majority of compensation committees put the greatest emphasis on which of the following when determining compensation for their executives？
A. Long-term corporate performance
B. The threat of government regulation
C. Salaries paid to executives of comparable corporations
D. The probable effect the determination will have on competitors
E. The probable effect the economic climate will have on the company
--------------------------------------------------------------------
Q15
The passage suggests which of the following about government legislation requiring that corporate boards undergo reform？
A. Such legislation is likely to discourage candidates from joining corporate boards.
B. Such legislation is likely to lead to reduced competition among companies.
C. The performance of individual companies would be affected by such legislation to a greater extent than would the economy as a whole.
D. Such legislation would duplicate initiatives already being made by corporate boards to improve their own performance.
E. Corporate boards themselves could act to make such legislation unnecessary.
--------------------------------------------------------------------
Q16
Which of the following best describes the organization of the passage？
A. A problem is acknowledged， the causes are explored， and a solution is offered.
B. A question is raised， opposing points of view are evaluated， and several alternative answers are discussed.
C. A means of dealing with a problem is proposed， and the manner in which a solution was reached is explained.
D. A plan of action is advanced， and the probable outcomes of that plan are discussed.
E. Two competing theories are described and then reconciled.
1.1.4 check支付方式★△
V1 【by： tracytx121】
還有一個(gè)貌似也是現(xiàn)象解釋 一屏半好像 就是說check的使用率很高，雖然它的什么social cost大， 在其他的什么支付方式都被更普遍使用的時(shí)候，check的使用率還是居高不下。后面就是解釋。.有一個(gè)什么conventional explanation說balabalabala.。另一段好像是另外一個(gè)解釋。
V2 【by： 伍月 690】
第三篇是說check為什么還是那么popular的，提到了一個(gè)關(guān)于float的東西。
V3 【by： tent1985】
第一段是說，現(xiàn)在電子化的支付方式很多，但是paper check 還是很受歡迎，占80%什么的
第二段，講paper check多說明市場不健康，似乎稍微講了點(diǎn)原因
第三段，重點(diǎn)說這個(gè)paper check的弊端吧，writer怎么樣怎么樣，可是拿利息，不用承擔(dān)什么什么風(fēng)險(xiǎn)
第四點(diǎn)，駁斥了上面的理論，說現(xiàn)在對(duì)一些大的check，第三段里講的吃虧的那一方也是rational的，會(huì)爭取利益
V4 【by： gillian0404 670】
閱讀：閱讀第一篇我是講pay check的。。JJ里面內(nèi)容比較全。大家原諒我的記憶力把@~》《 第一段是給出一個(gè)現(xiàn)象說現(xiàn)在許多人都用電子的card之類的神馬東西結(jié)賬，但是check還是很有市場。
第二段ms是說，pay check。。。。。的writer 好像可以take advantage of 神馬東東，但是check receiver跟他不同，，，呃。。具體啥不同。
V5 【by： julycloud 760】
第三篇也是狗狗，就是check 那篇，狗狗也很詳細(xì)，不想說了，我覺得雖然三段都在說check 使用普遍（the failure ）的原因，但重點(diǎn)應(yīng)該是最后一段作者對(duì)這種傳統(tǒng)的認(rèn)為float可以帶來 利潤的批判。它給出了原因，1因?yàn)榧夹g(shù)提高（高亮，有題--作用是減少從寫到收的時(shí)間，確定是這個(gè)呵呵） 2 當(dāng)量較大時(shí)，receiver可以采取行動(dòng)以減少float產(chǎn)生的損失--和writter商量（有題） 所以大家要多注意下最后一段呵呵
原文搜索： chinamerica
狗主人：（kking v37）是這個(gè)原文沒錯(cuò)，前三段一樣，如果我沒記錯(cuò)的話，后面還有，應(yīng)該是講質(zhì)疑第三段傳統(tǒng)觀點(diǎn)的。
Despite the growing availability and acceptance of electronic payment instruments—such as credit cards， debit cards， and automated clearinghouse （ACH） payments—by far the most popular noncash payment instrument used in the United States is the paper check. In 1995， approximately 80 percent of all noncash transactions were made by check （Bank for International Settlements， forthcoming）。 Furthermore， although use of electronic instruments has grown in the past several years， check use has grown as well： between 1987 and 1993， the average annual number of payments per capita increased by 26 payments for electronic instruments， but by 31 payments for checks （Humphrey， Pulley， and Vesala， forthcoming）。 Clearly， individuals and businesses are not rapidly shifting away from checks to electronic instruments.
The popularity of checks persists even though checks cost society more to produce and process than do electronic instruments. According to standard economic theory， that may be a sign that the market for payment instruments is not working properly. In general， in an efficient market， when competing goods are available and one costs societymore， the prices of the goods will reflect the relative costs of the resources used to produce them， and the cheaper good will be substituted for the more expensive. In this way， society uses its resources to produce only the particular goods it wants in the particular amounts it wants. In other words， resources are used efficiently. When use does not shift to the cheaper good， either the goods are not close substitutes or the market has failed， and there is a potential role for a public authority to attempt to correct the failure.
Market failure is a commonly accepted view of what’s happened in the market for payment instruments. According to this view， the users of checks are the check writers. And for those individuals and businesses， the private cost， or price， of using checks has been distorted by the value of check float， or the time between the writing and clearing of a check. During that time， of course， the funds can earn interest for the check writer rather than for the check receiver. The size of this benefit is thought to have reduced the price of check use below the cost to society of producing and processing checks. Since individuals and businesses
don’t face that higher social cost， they continue to use checks despite the existence of other means of payment that are less costly to society. In short， checks are overused.
第四段文字：by： yali9777 可供參考，待確認(rèn)！
That view is suspect even if the data still supported it，
though. The view seems to assume that only the agent on
one side of a transaction—the check writer—recognizes
and takes advantage of the value of float. That assumption
doesn’t correspond with expected rational behavior. Since
float is a transfer payment from the check receiver to the
check writer， with no allocative effects overall， rational
agents are likely to negotiate a mutually beneficial distribution
of any significant value of float.7 And， in fact， this
type of negotiation is common for large payments between
businesses， for which the value of float is potentially large.
In practice， many business-to-business payments contractually
stipulate payment transaction terms that internalize the
effects of float.
考古 beatG 待確認(rèn)
V1
四大段。我感覺有兩屏。是說check的事情。雖然現(xiàn)在技術(shù)發(fā)達(dá)啊什么的，但是paper check還是主要被美國人應(yīng)用。后面見了新老觀點(diǎn)對(duì)比。有道主旨題。看見之后我異常的冷靜，因?yàn)楫?dāng)時(shí)已然還剩20分鐘了，急也沒用么，我只讀了第一段和每段的首句，還是讀懂了大概，然后看題帶進(jìn)去找了細(xì)節(jié)，3道細(xì)節(jié)題，其中很多無關(guān)選項(xiàng)的，穩(wěn)住了，相信自己的能力。
V2
還有個(gè)支票的使用，說都有信用卡了，很多人還是喜歡用支票，有人認(rèn)為支票造成market failure 。 提到了一個(gè)概念： check float 意思是寫支票和兌換的時(shí)間差， 寫支票的人靠這個(gè)時(shí)間差獲得利益，收支票的現(xiàn)在也明白了這個(gè)利益，所以會(huì)在談生意時(shí)和對(duì)反談這個(gè)問題 （我寫的這些都是有題的?。?BR> V3
主題：支票 最長的一篇，四段。
第一段：雖然其他流通方式越來越多，支票仍然占據(jù)主要地位。
第二段：其實(shí)這種現(xiàn)象是不正常的。因?yàn)橹钡纳鐣?huì)成本（生產(chǎn)成本，流通成本）比其他方式高。根據(jù)一種理論，有競爭的產(chǎn)品，如果其成本很高，會(huì)被其他成本低的產(chǎn)品取代。但支票卻不是這樣。
第三段：解釋：古老理論認(rèn)為是市場失敗。由于開支票的人能夠從支票的流通中獲利（從支票開出到兌現(xiàn)的時(shí)間差可以產(chǎn)生利息）使得他們支付的成本被降低。另外，開支票者不需要直接支付社會(huì)成本（有題），所以仍然使用支票。
第四段：反對(duì)上述理論。認(rèn)為這種利息很小，可以忽略。另外，上述理論家假設(shè)只有開支票方知道利用這種利息，而實(shí)際上，如果這種收益足夠大的話，接受支票的一方也會(huì)通過談判要求共盈（有題）。
V4
私人支票（personal cheque）的。
第一段說，信用卡電子卡什么的很方便，不用刷卡的人花錢買，社會(huì)生產(chǎn)花費(fèi)（social production cost）低。私人支票要印，這樣社會(huì)生產(chǎn)花費(fèi)（social production cost高，又要開支票的人花錢買，為什么私人支票還是那么流行呢？
第二段介紹說經(jīng)濟(jì)學(xué)中有個(gè)理論就是，在正常的市場下，如果一個(gè)東西比另一個(gè)東西便宜，便宜的那個(gè)會(huì)取代貴的那個(gè)。如果取代這件事情沒發(fā)生，那么就是market failure。個(gè)人支票沒被電子卡取締就是個(gè)market failure。
第三段說舊的理論觀點(diǎn)認(rèn)為，大家認(rèn)為個(gè)人支票還流行的原因就是因?yàn)橘I支票的時(shí)間比用完一本支票的時(shí)間短（買就一瞬間的事情，用完一本支票要好久）。還說了一個(gè)inflator還是inflation的東西，忘了。雖然私人支票的社會(huì)生產(chǎn)花費(fèi)高，但是個(gè)人使用私人支票的花費(fèi)因?yàn)槟莻€(gè) inflation/inflator會(huì)降低。這樣個(gè)人使用私人支票的花費(fèi)小于社會(huì)生產(chǎn)花費(fèi)，所以大家還在繼續(xù)用私人支票。
第四段說有一種新觀點(diǎn)要反駁舊觀點(diǎn)，因?yàn)閷?shí)際上那個(gè)inflator/inflation現(xiàn)在已經(jīng)沒有那么大的影響力了。而且私人支票的benefit只有寫支票的 （cheque writer）能得到。所以在很多商業(yè)往來中，如果inflator/inflation高，收支票的（cheque receiver）會(huì)和寫支票的討價(jià)還價(jià)，希望也能享受到私人支票的benefit。
V5
3. 講美國支票的問題，寂靜里面已經(jīng)很清楚了，這里補(bǔ)充一些。
第一段大概就是講米國支票用得很普遍，大概占了大家80％用來付帳得業(yè)務(wù)量，雖然其他的業(yè)務(wù)，比如電子帳務(wù)等在增長，支票還是占很重要作用。
第二段講了一些關(guān)于經(jīng)濟(jì)學(xué)上的東東，說支票這個(gè)東西還要耗費(fèi)一些社會(huì)成本。而經(jīng)濟(jì)學(xué)規(guī)律上來說，一些便宜的東東會(huì)取代那些有成本的，如果沒有，比如支票這個(gè)事情，它沒有被沒有成本的電子帳務(wù)和信用卡等東西取代，那就說明這是一個(gè)Market failure.
第三段講了一個(gè)老觀點(diǎn)，就是說支票為什么沒被取代，是因?yàn)橹焙灠l(fā)到兌現(xiàn)會(huì)產(chǎn)生一個(gè)check float，能給使用支票的人帶來好處。而且好像因?yàn)槟撤N原因（記不清楚了）支票的使用只帶來社會(huì)成本，而不會(huì)給支票使用者帶來成本，所以他們一直用，盡管這違背市場規(guī)律。（此處有題目）
然后作者對(duì)這種這種觀點(diǎn)提出了質(zhì)疑，說因?yàn)榭萍歼M(jìn)步還是啥子的，支票現(xiàn)在從簽發(fā)到兌現(xiàn)的時(shí)間已經(jīng)很快了，產(chǎn)生的這種check float利益很小。而且就算這個(gè)利益很大的時(shí)候（比如大筆錢的支票），支票接受方也會(huì)考慮這個(gè)利益，通過談判來分享這個(gè)利益。（此處有題目）
這里補(bǔ)充幾個(gè)題目
1） 作者提到了現(xiàn)在因?yàn)榭萍嫉倪M(jìn)步，支票的簽發(fā)與兌現(xiàn)很快了，是為什么
有兩個(gè)糾結(jié)一點(diǎn)的選項(xiàng)，我選了B
A. 是為了說明支票從簽發(fā)到兌現(xiàn)的時(shí)間縮短了
B. 是為了說明支票從開出到兌現(xiàn)產(chǎn)生的float的經(jīng)濟(jì)效益沒用這么大了
2） 對(duì)那些支持第三段中老觀點(diǎn)的人來說，以下哪個(gè)選項(xiàng)是正確的
我選了這個(gè)：
因?yàn)槟撤N原因（記不清楚了）支票的使用只帶來社會(huì)成本，而不會(huì)給支票使用者帶來成本，所以他們一直用
3） 從這個(gè)文章可以infer出支票接受者對(duì)支票產(chǎn)生的check float的態(tài)度？
我選了這個(gè)：
支票接受者會(huì)通過談判來保護(hù)自身的利益（也就是要求分享check float）
4） 這篇文章的主旨是什么
我選了這個(gè)：
解釋了為什么支票一直還在使用的幾個(gè)原因回憶起最后篇文章，添加于此，