Choose one answer that best explains the underlined part of each of the following statements or best completes them.
1. Far from capitulating to this new thrust of American trade policy， Japan is taking a stand that could lead to a trans-Pacific confrontation. （ ）
A. point of view B. pressure
C. prospect D. area
2. The value of exports increased by 10 percent， but imports jumped 38 percent at the same time. （ ）
A. decline sharply B. decline slowly
C. increase sharply D. increase slowly
3. Soon， $2，000 million in financing will have to be arranged for the next phase of development. （ ）
A. plan B. department
C. stage D. career
4. The four SEZs have specifically designed tax and other incentives for the foreign investors. （ ）
A. measures B. stimulus
C. taxes D. laws
5. The major outlets for white eggs are hotels， western-style restaurants and fast food shops. （ ）
A. channels B. suppliers
C. customers D. outings
6. China has the most dynamic economy in the world. （ ）
A. vigorous B. interesting
C. huge D. flexible
7. Agricultural productivity has grown rapidly across the board. （ ）
A. across the world B. comprehensively
C. worldwide D. greatly
8. The decline was partly caused by India‘s reining in of its budget deficit. （ ）
A. slackening B. raining
C. easing D. controlling
9. “1992 is a set of laws， and because of the mutual stakes no one would take a breach of those laws lightly. ” （ ）
A. branches B. risks
C. benefit D. cooperation
10. In tea and sugar， it is already taking its toll in the form of reduced purchases by cash-strapped oil producing states. （ ）
A. enjoying popularity B. getting unwelcoming
C. suffering losses D. succeeding
11. Per capita income， now $2，000， could reach $5，000 by the end of the century. （ ）
A. every year B. every person
C. per month D. per week
12. Particular forms of foreign trade are eligible for exemption from customs duties and taxation. （ ）
A. freedom B. example
C. exception D. compensation
13. Re-exports to Kuwait have seesawed from Dh 183 million in 1990 to Dh 1，161 million in 1991 and Dh 757 million in 1992. （ ）
A. changed B. fluctuated
C. been seen D. soared
14. It‘s too early to tell how the reincarnated Coke is selling， since many bottlers are still working off old inventories. （ ）
A. producing B. continuing
C. providing D. dealing with
15. What foreign businessmen find encouraging is that ideology is no longer in the driver‘s seat and replaced by entrepreneurship. （ ）
A. permanent B. dominant
C. useful D. successful
二、Translate the following phrases into Chinese.（每小题1分，共10分）
16. visible trade accounts
17. assembly manufacturing
18. cooperative enterprises
19. securities and real estate market
20. nominal dollar terms
21. government procurement
22. fiscal packages
23. risk-weighted assets
24. carbon tax
25. austerity program
三、Translate the following phrases into English.（每小题2分，共20分）
四、Read the following passages and answer the questions in English. （共18分）
“Sweat”： In this sense， South Korea is treading a path not taken by Japan. While Japanese interests span the globe， few foreign firms have successfully penetrated Japan‘s home turf. Korea， too， has a legacy of xenophobia； and the Koreans are clearly wary of opening their markets to high-powered western competitors. But they are tentatively doing just that， so far with a momentum unmatched by Japan. The aim is to defuse the protectionist pressures that have hobbled U. S. -Japanese trade relations and， in time， to enter the ranks of the world’s developed nations. That‘s no small order， but the Koreans think it can be filled fairly simply. At bottom， says Nam Duc Woo， chairman of the Korea Traders Association， South Korea needs only “some degree of sweet and some degree of technological sophistication” And that’s precisely what has already lifted Korea， Inc. into contention.
36. What is compared to an order in the given context （2分）
37. 1）What does the writer mean by the word “sweat” （2分）
2）What does “technological sophistication” refer to （2分）
38. Can you explain “…lifted Korea， Inc. into contention” （3分）
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 counter-trade 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 is “debt service” （1分）
40. 1）What does “global firms” refer to （2分）
2）What does the network of a so-called “global firms” usually consist of （5分）
41. What‘s meant by “tap the networks of global firms” （1分）
五、 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.（每小题1分，共10分）
Many countries are envious of Silicon Valley， the world center of the computer， software， and Internet industries. Silicon Valley started in the 1950s with a modest plan by Federick Terman， a far-sighted dean of Stanford‘s Engineering School， to create an industrial park on unused Stanford land. A few companies accepted the offer， but the area was still sleepy and unimpressive when I first visited it in the early 60s.
The region took off in the 1970s with the development of the personal computers by Apple Computer Inc. and others， and it has exploded since then with the creation of the Internet and the enormous demand for software. Silicon Valley now employs more than 1 million people， almost 40% of whom have at least a bachelor‘s degree， and more than a third are foreign-born. They are attracted by the good jobs and by the early access to frontier developments in the high-tech field.
Whatever got Silicon Valley going， its advantages in attracting quality labor venture capital multiplied as the region grew. A large pool of engineers， scientists， and software experts are available to both new and old companies. Talented individuals flock to the region not only because of generous stock options and decent pay， but also because they know they can find good jobs there if their employers fail. So while job changes are common， unemployment rates are extremely low.
Innovations and other new developments spread rapidly in Silicon Valley， in part by employees who change jobs. As Alfred Marshall， a great British economist of the late 19th century， recognized， when companies in related industries locate near each other， “the mysteries of the trade become no mysteries； but are as it were in the air.”This makes it difficult to keep secrets， but companies do get access to innovations by neighbors.
42. After ten years‘ development， Silicon Valley has grown up into an industrial cluster like today. （ ）
43. With the creation of Internet， Silicon Valley faced a boom. （ ）
44. Silicon Valley developed wholly by government support. （ ）
45. Unemployment rates are low because workers prefer stay in a company. （ ）
46. Competition makes companies in this area grow faster by innovation. （ ）
Market prices move up or down （or remain the same） in response to a host of factors causing shifts in supply （the whole supply curve） or demand （the whole demand curve） or both together.
Bad weather makes prices go up - not just the price of agricultural， but of a great many other ranging from steel to nightgowns - because of interruption of production， breakdown in transportation， power failure， etc.
Changes in technology cause shifts in supply curves， a more efficient way of making transistors brings down the prices of calculators， computers， radios， television sets， record players， recorders. Increase in the scale of production ， as we have seen， often bring down certain product prices.
Shrinking oil and mineral reserves contract supply， and prices move up. “Diseconomies” resulting from shrinking scales of production， as when the market for handmade pocketbooks， horse-drawn carriages， grandfather clocks， custom tailoring， and handmade furniture contracts， push up the price of such products not only absolutely， but relatively far above what they were in the old days， when skilled labor was cheaper and more abundant.
47. A wide variety of goods are affected by the bad weather. （ ）
48. Improvement in technology will decrease product prices. （ ）
49. Increase in the scale of production means “diseconomy”。 （ ）
50. Oil prices are greatly affected by its storage. （ ）
51. Few are being made and so are more expensive to make—handmade furniture is an example. （ ）
六、Translate the following passage into Chinese.（共12分）
52. Last year China‘s trade surplus surged， buoyed by exports of toys， textiles and consumer electronics， Its trade surplus with the United States hit a record $18 billion. Only Japan’s was larger. With the U.S. Congress due to consider the renewal of China‘s most-favored nation trade status in June， officials in Beijing fear the trade imbalance could surpass human rights as a source of U.S. opposition to preferred status for China. “The trade surplus itself will be the No. 1 problem this year，” says one Chinese official. “After Japan， we will be first in line for retaliation. ”