10 The market sales structure is a sales model based on: (6.2)

A . increase B . enlarge C . expand D . extend

A.The Internet B.Local stores C.The consumers

The world art market had already been losing momentum for a while after rising bewilderingly since 2003．At its peak in 2007 it was worth some $ 65 billion, reckons Clare McAndrew, founder of art Economics, a research firm-double the figure five year earlier. Since then it may have come down to $ 50 billion. But the market generates interest far beyond its size because it brings together great wealth, enormous egos, greed, passion and controversy in a way matched by few other industries. In the weeks and months that followed Mr Hirst's sale, spending of any sort became deeply unfashionable. In the art world that meant collectors stayed away from galleries and salerooms. Sales of contemporary art fell by two-thirds, and in the most overheated sector, they were down by nearly 90% in the year to November 2008．Within weeks the world's two biggest auction houses, Sotheby's and Christie's, had to pay out nearly $ 200m in guarantees to clients who had placed works for sale with them. The current downturn in the art market is the worst since the Japanese stopped buying Impressionist at the end of 1989．This time experts reckon that prices are about 40% down on their peak on average, though some have been far more fluctuant. But Edward Dolman, Christie's chief executive, says: "I'm pretty confident we're at the bottom. " What makes this slump different from the last, he says, is that there are still buyers in the market. Almost everyone who was interviewed for this special report said that the biggest problem at the moment is not a lack of demand but a lack of good work to sell. The three Ds--death, debt and divorce-still deliver works of art to the market. But anyone who does not have to sell is keeping away, waiting for confidence to return. In the first paragraph, Damien Hirst's sale was referred to as "a last victory" because______. A．the art marker had witnessed a succession of victories B．the auctioneer finally got the two pieces at the highest bids C．Beautiful inside My Head Forever won over all masterpieces D．it was successfully made just before the world financial crisis

A．Right B．Wrong C．Doesn't say

The demand for foreign exchange can be either transaction or speculative based. The transactions demand for foreign exchange comes from those who wish to make payment to a foreign country for the purchase of a good，a service，or a security purchased from a resident of，or a company located in a foreign country．A resident of the United States wishing to make a remittance to a relative in the United Kingdom would also affect the demand for sterling. The same would be true if the resident of one country wished to make a contribution to a charity located in another country．Speculative demand for a currency is generated by the confidence speculators have in that currency vis-à-vis other world currencies．This demand could be based on political and/ or economic factors，as demonstrated during the 1970s．For example，when the mark was strong and the sterling weak，speculators would sell sterling to buy marks． The supply of foreign exchange is provided by those who are willing to sell a currency they hold．This may include those who will receive payments in a foreign currency for the export of goods and services，the sale of securities to foreign residents，or the receipt of foreign exchange resulting from gifts or contributions made by foreign countries．International speculators arc also sources of supply when they feel the currency they hold is weak relative to other world currencies．

A．and is encouraged by voluntary export restraints B．and is the principal means used to enforce nontariff barriers C．at a price below its domestic price or cost of production D．that does not meet the quality standards in the domestic market

The world art market had already been losing momentum for a while after rising bewilderingly since 2003. At its peak in 2007 it was worth some $65 billion, reckons Clare McAndrew, founder of Arts Economics , a research firm—double the figure five years earlier. Since then it may have come down to $50 billion. But the market generates interest far beyond its size because it brings together great wealth, enormous egos, greed, passion and controversy in a way matched by few other industries. In the weeks and months that followed Mr Hirst's sale, spending of any sort became deeply unfashionable. In the art world that meant collectors stayed away from galleries and salerooms. Sales of contemporary art fell by two-thirds, and in the most overheated sector, they were down by nearly 90% in the year to November 2008. Within weeks the world's two biggest auction houses, Sotheby's and Christie's, had to pay out nearly $200m in guarantees to clients who had placed works for sale with them. The current downturn in the art market is the worst since the Japanese stopped buying Impressionists at the end of 1989. This time experts reckon that prices are about 40% down on their peak on average, though some have been far more fluctuant. But Edward Dolman, Christie's chief executive, says: " I'm pretty confident we're at the bottom. " What makes this slump different from the last, he says, is that there are still buyers in the market. Almost everyone who was interviewed for this special report said that the biggest problem at the moment is not a lack of demand but a lack of good work to sell. The three Ds—death, debt and divorce—still deliver works of art to the market. But anyone who does not have to sell is keeping away, waiting for confidence to return. In the first paragraph, Damien Hirst's sale was referred to as "a last victory" because_________. A．the art market had witnessed a succession of victories B．the auctioneer finally got the two pieces at the highest bids C．Beautiful Inside My Head Forever won over all masterpieces D．it was successfully made just before the world financial crisis

A．＄1 billion B．＄2 billion C．＄10 billion

A.The price/book ratio is 0.90. B.The price/cash flow ratio is 0.50. C.The price/sales ratio is 0.33. D.The price to earnings (P/E) ratio is 33.3.

A．advertising B．survey C．guidance D．ddelivery

A．As far as B．As for C．As to D．As regards