I. Choose one answer that best explains the underlined part of the following statements or best completes them：（30%）
1. After the president‘s speech， the stock price slumped by 10 percent yesterday.（ ）
A. increased B. dropped
C. waved D. showed
2. Jack finally reached a bargain with the antique dealer over the vase.（ ）
A. a sanction B. an approach
C. a tradition D. an agreement
3. The following year， a tax law for joint ventures was promulgated.（ ）
A. drafted B. issued
C. broadcast D. proposed
4. Sales forecasts are outside my province — you should discuss them with the manager.（ ）
A. problem B. program
C. field D. task
5. These eggs have a unique odor that can be an advantage or a disadvantage， depending on the consumer.（ ）
A. an only B. a pleasant
C. a desirable D. an unusual
6. “The trade surplus itself will be the No.1 problem this year，” says the Chinese official. “After Japan， we‘ll be first in line for retaliation.”（ ）
A. revenge B. recovery
C. reflection D. inflation
7. We are not safely beyond a backlash against the new world competition.（ ）
A. instance B. resistance
C. moment D. background
8. If companies can‘t get their products distributed nationwide， marketing them will be more expensive.（ ）
A. spread B. spent
C. contributed D. attributed
9. The real estate has increasingly become vulnerable to business setbacks and changes of economic climate.（ ）
A. strongly resistant to B. gradually accustomed to
C. more adapted to D. easily attacked by
10. At five o‘clock in the afternoon the city streets are a series of bottlenecks.（ ）
A. bottling chambers B. narrow parts of bottles
C. bottlenoses D. traffic jams
11.We had a dispute about how much money he owes me.（ ）
A. dispose B. discount
C. quarrel D. quota
12. The bilateral surplus with America is also growing rapidly.（ ）
A. one-edged B. two-edged
C. one-sided D. two-sided
13. There were several rounds of negotiation before China entered WTO.（ ）
A. mistakes B. senses
C. circles D. sessions
14. The economic crisis has seriously affected French exports.（ ）
A. effected B. reflected
C. reduced D. increased
15. Falling sales in Thailand were offset by strong performances in other markets.（ ）
A. influenced B. bargained
C. offended D. balanced
II. Translate the following phrases into Chinese： （10%）
18.per capita income
III. Translate the following phrases into English：（10%）
IV. Read the following passages and answer the following questions in English：（18%）
In the past few days differences between the United States and the European Community on farm trade have narrowed almost to nothing. As a result the world is now close to concluding the Uruguay round of GATT talks. That deal is admittedly far from perfect， a series of messy compromises. The cause of free trade will have many more battles to fight. Never mind. On a conservative estimate the Uruguay round would permanently raise global welfare by more than $100 billion a year， spur economic growth everywhere and extend competition to hitherto sheltered， and therefore backward， parts of all economies. By any standards， it would be a hugely valuable achievement.
36. Why does the passage say that the Uruguay round is close to conclusion？
37. What do “far from” and “sheltered” mean？
38. How can the Uruguay round be described by a non-conservative estimate？
Nations with serious debt problems， such as Mexico， Brazil and Argentina， have been compelled to devote almost all their export earnings to debt service， leaving themselves with virtually no surplus to pay for imports. With barter， however， debtor nations can continue to import goods while， in effect， concealing export earnings from creditors. But counter trade is not the exclusive province of debtor nations. Says Yoffie， “Even countries with strong foreign exchange positions， such as Australia， Canada and Indonesia， are insisting on countertrade in certain areas. Linking imports and exports is a way to exert power over multinational corporations. Countries that lack expertise in international marketing try to use counter trade as leverage to tap the networks of global firms.”
39. What are the advantage and disadvantage of barter？
40. What does “global firms” refer to？
41. Why do countries with strong foreign exchange position need counter trade？
V. Read the following two passages and decide whether the statements are true or false. Mark T for true and F for false in the brackets given： （20%）
Holst and Company， a member of the Northwest Holst Group， has introduced flexible working hours for all its staff at its head office. It claims to be the first UK construction company to do this. The three-month trial period is being conducted with the approval of the overwhelming majority of the head offices. All 150 employees must be at their job during the “core time”from 10 am to 4 pm， less a one-our lunch break. They may choose arrival and departure times from 8 to 10 am and 4 to 6 pm. 150 hours have to be put in over each four week period. Credit or debit time of up to 7 and 1/2 hours may be carried forward to the next four-week period. Hengstler Flextime recording equipment is being used for the trial. The managing director of Holst， Mr Colin Cashmore， commented， “This is an exercise in responsibility. We regard our staff as very responsible people and it is only on this basis that the flexible working hours system can succeed.” He emphasized that if after the trial a majority of the staff was opposed to the system， it would not be continued. If， on the other hand， it proved successful， the company would consider extending Flextime to its other offices throughout the country.
42. The Northwest Holst Group has introduced flexible working hours for all its staff at its head office. （ ）
43. Every employee must be at his or her job during the “core time” from 10 am to 4 pm， including a one-hour lunch break.（ ）
44. All 150 employees are free to choose their arrival and departure times during the day.
45. If all the staff of Holst and Company were not responsible， the flexible working hours system could not succeed.（ ）
46. Holst and Company has decided to carry out the flexible working hours system even if the majority of the staff is opposed to it.（ ）
Japan‘s economy is in the most wrenching adjustment since the oil-price shock of the early 1970s. The optimists have predicted that the powerhouse economy is suffering only a temporary slowdown. Yet virtually every key indicator continues to deteriorate. The much-vaunted “soft landing” is cleaning not in the cards. Recovery is further away than many people imagine， and it will be slow and erratic when it does come.
Alarmed at the rapid asset-price inflation of the mid-1980s， bureaucrats intervened to head off a crash. Unfortunately， the economy didn‘t cooperate. Asset prices tumbled precipitously， with the real estate and stock markets embarking on a steady slide that many believe has yet to hit bottom.
Japan dipped decidedly into recession as GDP fell 0.2％ in the second quarter of 1992， 0.4% in the third and 0.3% in the fourth. Industrial output shrank 6.1% last year. Now we‘re starting to see bankruptcies by industrial and service companies. The recession is no longer confined to the bubble economy-it has entered the real economy.
Japanese companies do have an impressive track record of responding to crisis situations. They rebounded very quickly from the oil-price shock in 1973 and more recently offset the rising Yen by boosting productivity and shifting operations overseas.
This time around， however， they face a much harder and longer road to recovery. Recession is going to be very difficult for Japan.
The restructuring trend may itself exacerbate the problem. To try to shore up faltering profits， companies will slash capital investment and employee benefits. This in turn will further damage consumer confidence. Around 20% of Japan‘s GNP comes from business investment， with a whopping 60% from consumer spending.
Consumer confidence has also been hurt by layoffs and cuts in overtime pay and bonuses. For a long time there have been more new job offers than there were seekers， but this has fallen recently. For most Japanese this is an extraordinary occurrence.
47. Japan‘s economy is in the most wrenching adjustment since the oil-price shock of the early 1970s. Here“the most wrenching adjustment”means“the most painless adjustment”。（ ）
48. As GNP fell successively and there are bankruptcies in some companies， we can say for certain that the economy is undoubtedly in recession.（ ）
49. Japanese industries were known to be remarkably flexible in adjusting to economic crisis. This time it‘s going to be very difficult for them to emerge from recession. （ ）
50. Consumer confidence is vitally important to Japan‘s economy， because employee benefits were slashed.（ ）
51. The recent occurrence of layoffs and cuts in overtime pay and bonuses is quite unusual to most Japanese， as for a long time there have been more job offers than seekers. （ ）
VI. Translate the following passage into Chinese： （12%）
Barter endured for thousands of years as the primary means of trade. Colonial powers forced bilateral barter upon their client states， making the colonies take expensive manufactured goods in return for bargain-price raw materials， and prohibiting them from trading with other nations. International trade was supposed to be freed from bartering‘s constraints in July 1944， when diplomats and economists attended the United Nations Monetary and Financial Conference at Bretton Woods， New Hampshire.