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一.READINGPARTONEQuestions1-7.Readthesesentencesandthesharepricesbelow..Whichstockmarketdoeseachsentence(1-7)describe?Example:Answer:Arelations.2.Overtheweek,turnoverrosebyT$5.83bn.3.Manypeoplewenttobuycapitalizationstocks.4.Inthebeginningmanyforeignshareholdersbuybluechipsathighprices.5.Pricewasloweraftershareholderssoldstocksinindustrialstomakeprofit.6.OnThursdaypricedroppedandthenroseagain.7.thefallingofcompositeindexroseby1.3percentontheweek.A.Bangkokrose2percentonthedayand3.4percentovertheweekasbuyersmovedintolargemarketcapitalizationstocks.TheSETindexrose27.55to1,383.57inturnoverofBt8.5bn,downfromThursday'sBt10bn.B.Taipeiwaspulledlowerbylateprofit-takinginindustrialsafterThursday'srebound,andtheweightedindexfell45.59to5,806.77,or1.7percent,overtheweek.TurnoverrosetoT$41.51bnfromT$35.78bn.C.Manilaopenedstronglyonforeignbuyingofbluechipsbutdippedatthecloseasprofitsweretaken.Thecompositeindexfell10.07to2,907.00,1.3percenthigherontheweekD.HongKongfinishedamixeddayslightlylower,sappedbyprofit-takingonconfirmationofUSrenewalofChina'sMFNtradestatusandconcernsoverthelowerdomesticpropertymarket.TheHangSengindexfell11.58tocloseat9,470.13,1.7percentlowerontheweek.PARTTWOQuestions8-12.ReadthislettertotheeditorofTheEconomist..ChoosethebestsentencefromthelistA-Itofilleachoftheblanks..Foreachblank(8-12)markoneletter(A-I)onyourAnswerSheet..Donotmar4anylettertwice.Sir-",......example...In1991NewMexicorankedfourthintheUnitedStatesinproductionofnaturalgas,seventhinoilandtenthinnon-fuelminerals...8...Non-fuelmineralscontributedabout$1billionandcoal$509million.Taxesfromproductionoffuelsandminerals,andleasepaymentsonstatelandshavebeensetasidebylegislativeactstoendowtwopermanentfundsworthabout$5.65billion,...9...Inaddition,duringfiscalyear1991,paymentstoNewMexicofromtaxesonfederallandswereS108million,allearmarkedforpubliceducation....10...About$566millioncamefromtaxesandpermanent-fundearningsattributabletooilandgasproduction....11...TourismisanimportantindustryinNewMexico,yetitseconomicimpactonthepublicsectorisdwarfedbythatofmineralproduction.NewMexicocamethroughtherecentrecessioninmuchbettershapethanmostotherstates.Itdoesnothaveadeficit....12...Statesthatrelyprimarilyonasalestaxoronanincometaxhavebigproblemsduringeconomicdownturns.IncomegrowthperheadinNewMexicoaveraged6.1/00intheyeartoOctober1992-oneofthefastestgrowthratesintheUnitedStates.CharlesChapinExample:CA.Ithasabroadlybasedtaxstructureanimportantpoint.B.In1992itproducedmoreoilthanColoradoandKansascombined.C.However,theextractivemineralindustryinNewMexicoisoneofthestate'sstrongesteconomicforces.D.Duringfiscalyear1992NewMexicoraisedpermanentfundsworthabout$6.1billion.E.thecombinedvalueofoilandgasproductionwas$2.8billion.F.Some16,000employeesworkintheextractiveindustriesandtheirwagesareamongthehighestofanymajorindustry.G.the$39millionearnedbythesefundsin1991wasusedtofinanceeducationandotherpublicservices.H.OnlyS25millioncamefromagriculturaltaxes.H.OnlyS25millioncamefromagriculturaltaxes.I.NewMexico's

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