4. Lending institutions act as delegated monitors and can diversify and reduce their risk exposure, resulting in increased safety for savers' funds.

听力原文： Colleges and universities are degree-granting institutions of higher education. In the original sense of the word, a college was a group of students who gathered to share academic and residential facilities. Each college was a component part of a corporate body called a university. Today, especially in the United States, a college may be affiliated with a university (for example, Bernard College of Columbia University) or independent (for example, Smith College).

American undergraduates traditionally have been required to take general survey courses before they specialize in major areas of concentration; the undergraduate program generally is four years, and each year is split into two or three semesters. After receiving a bachelor of arts (BA) or a bachelor of science (BS) degree, those who want additional education enroll in programs leading to a master of arts (MA) or a doctor of philosophy (Ph.D) degree or study at a medical, law, or other professional or technical graduate school at the same or another institution.

In contrast, European students begin their higher education with specialized studies because their general education is completed in secondary school. In general, European universities have no prescribed courses, attendance requirements, or course grades. Students may attend lectures, but do their work directly with tutors who prepare them for examinations. Programs may be completed in two or six years.

15.What was the original meaning of the word "college"?

16.When do American students begin to specialize in their major?

17.When do American students begin to study at professional or technical graduate schools?

18.In what way is European higher education different from US higher education?

(35)

A．A degree-granting institution of higher learning.

B．A group of students sharing academic and residential facilities.

C．A component part of a large corporate body.

D．An institution affiliated with a university.

A university is an educationM institution which awards degree and__________ research．

A.carries out

B.carries through

C.carries off

D.carries away

A university is an educationM institution which awards degree and__________ research．

A.carries out

B.carries through

C.carries off

D.carries away

The National Institute of Mental Health is conducting research to determine the psychological effects of using drugs.

A．extensive

B．refined

C．prevalent

D．out-going

The National Institute of Mental Health is conducting ______ research to determine the psychological effects of using drugs.

A．extensive

B．refined

C．prevalent

D．out-going

The National Institute of Mental Health is conducting ______ research to determine the psychological effects of using drugs.

A．extensive

B．refined

C．prevalent

D．out-going

Commercial Vices

The commercial vices are gambling, prostitution, and drugs. The appeals of the commercial vices are so strong and widespread that attempts to prohibit them in western democracies have always failed. Even in' totalitarian regimes with unrestricted police and draconian punishments, such as Islamic countries, there is only partial success.

The evils of these vices are threefold: Those who practice them suffer, the criminals who sell them prosper, and the enforcement organizations are expensive, unsuccessful, and often corrupt bureaucracies.

Two commercial vices have been accepted as unstoppable but their evils have been minimized by legalization and regulation. These are the particular drug, alcohol, and gambling.

The United States attempted to prohibit alcohol and failed. The Mafia made its accumulated capital by bootlegging alcohol. The gangsters of the twenties and thirties were in the alcohol business just as the drug peddlers of today are in the drug business. Both settled trade disputes with gunfire. When alcohol prohibition was repealed and sale by licensed dealers was instituted, the Mafia went out of the liquor business and the revenue agents assigned to stop the illegal business went out of business too. The quality of regulated liquor became assured and taxes, not high enough to motivate bootlegging, became a source of public revenue. Consumption of legal alcohol became only slightly greater than the consumption of illegal alcohol had been.

If we follow the alcohol example with all other drugs, the same benefits will obtain. Much more than that, the temptation of "forbidden fruit" will disappear. The jailing of petty drug pushers will stop, together with their training as future serious criminals in the crime schools which are our jails. If we transfer the huge sums wasted on fruitless interdiction efforts and on punishment to serious education and rehabilitation programs, the drug problem will retreat to the trivial level it was fifty years ago.

Gambling is another example of "If you can' t lick ' em, join ' em." At one time all but private gambling at home was illegal. So the Mafia ran the numbers rackets and the secret games and the bookmaking where "law abiding" citizens did their unstoppable gambling. Now governments run lotteries and license and supervise casinos so the gangsters are largely out, cheating is minimal, and governments earn revenue instead of paying police. Here, again, an education program would cost little and do much good.

Prostitution is an even more emotional problem. Addiction to sex is genetic and permanent and deprivation has many penalties. Here, again, legalization and regulation .will immediately eliminate the pimps and gangsters and reduce the police force. With periodic medical examination and licensing of the practitioners, and perhaps of the customers, there will be a radical reduction in the spread of venereal diseases, including AIDS. For those already diseased there can be a matching of buyer and seller by coding their license cards.

A valid objection to legalization (or de-criminalization) of vices is that this very action will encourage their practice by seeming to be an official endorsement. This objection can be finessed by what was done with "Blue Laws" which tried to impose unacceptable "virtues" but which could not be repealed. They were not repealed but merely stopped being enforced.

The enforcement budgets can then be converted to treatment and education to discourage and diminish practice of the vices. Laws providing regulation and licensing can still be passed. Logically they are inconsistent with laws forbidding, but so what? They can be enforced anyway.

Legalization and regulation of commercial vices would bring all the following benefits EXCEPT ______.

A．the police force could be reduced

B．illegal dealers would be forced out of business

C．there would be no more drug dealers

D．the practices might become a source of revenue

Commercial Vices

The commercial vices are gambling, prostitution, and drugs. The appeals of the commercial vices are so strong and widespread that attempts to prohibit them in western democracies have always failed. Even in totalitarian regimes with unrestricted police and draconian punishments, such as Islamic countries, there is only partial success.

The evils of these vices are threefold: Those who practice them suffer, the criminals who sell them prosper, and the enforcement organizations are expensive, unsuccessful, and often corrupt bureaucracies.

Two commercial vices have been accepted as unstoppable but their evils have been minimized by legalization and regulation. These are the particular drug, alcohol, and gambling.

The United States attempted to prohibit alcohol and failed. The Mafia made its accumulated capital by bootlegging alcohol. The gangsters of the twenties and thirties were in the alcohol business just as the drug peddlers of today are in the drug business. Both settled trade disputes with gunfire. When alcohol prohibition was repealed and sale by licensed dealers was instituted, the Mafia went out of the liquor business and the revenue agents assigned to stop the illegal business went out of business too. The quality of regulated liquor became assured and taxes, not high enough to motivate bootlegging, became a source of public revenue. Consumption of legal alcohol became only slightly greater than the consumption of illegal alcohol had been.

If we follow the alcohol example with all other drugs, the same benefits will obtain. Much more than that, the temptation of "forbidden fruit" will disappear. The jailing of petty drug pushers will stop, together with their training as future serious criminals in the crime schools which are our jails. If we transfer the huge sums wasted on fruitless interdiction efforts and on punishment to serious education and rehabilitation programs, the drug problem will retreat to the trivial level it was fifty years ago.

Gambling is another example of "If you can't lick’em, join’em." At one time all but private gambling at home was illegal. So the Mafia ran the numbers rackets and the secret games and the bookmaking where "law abiding" citizens did their unstoppable gambling. Now governments run lotteries and license and supervise casinos so the gangsters are largely out, cheating is minimal, and governments earn revenue instead of paying police. Here, again, an education program would cost little and do much good.

Prostitution is an even more emotional problem. Addiction to sex is genetic and permanent and deprivation has many penalties. Here, again, legalization and regulation will immediately eliminate the pimps and gangsters and reduce the police force. With periodic medical examination and licensing of the practitioners, and perhaps of the customers, there will be a radical reduction in the spread of venereal diseases, including AIDS. For those already diseased there can be a matching of buyer and seller by coding their license cards.

A valid objection to legalization (or de-criminalization) of vices is that this very action will encourage their practice by seeming to be an official endorsement. This objection can be finessed by what was done with "Blue Laws" which tried to impose unacceptable "virtues" but which could not be repealed. They were not repealed but merely stopped being enforced.

The enforcement budgets can then be converted to treatment and education to discourage and diminish practice of the vices. Laws providing regulation and licensing can still be passed. Logically they are inconsistent with laws forbidding, but so what? They can be enforced anyway.

Legalization and regulation of commercial vices would bring all of the following benefits EXCEPT that ______.

A．the police force could be reduced

B．illegal dealers would be forced out of business

C．there would be, no more drug dealers

D．the practices might become a source of revenue