Low spending in this respect will lead to great loss of profit.

A.high, low

B.high, high

C.low, low

D.low, high

A．they are short of food

B．there is not enough space

C．it’s getting warmer in the low land

D．it’s getting coldier in the mountains

Which of the following is true about the present economic situation？

A．The economy is in disappointing recession.

B．The situation has taken a turn for the better.

C．Consumer spending is low and goods cannot be sold.

D．The statistics have not reflected the true picture of the situation.

Which of the following statements about money is INCORRECT？

A．Many people have trouble in keeping and spending money wisely.

B．Money doesn"t necessarily bring happiness to people.

C．The more money you earn, the happier you will be.

D．Money brings comparatively more happiness to the low income class.

A．A low savings rate means that consumers are buying more,and more buying leads to an increase in a country’s trade deficit．

B．A low savings rate means that people are spending more than they earn and that results in increased financial difficulties for consumers, higher interest rate,and fewer international sales, resulting in a decrease in a country’s trade deficit．

C．A high savings rate means that there is more money available for investment which results in greater production and increased international sales which lead to lower trade deficits．

D．A country’s savings rate has no effect on the country’s trade deficit．

Marketing by emailing is on the increase. Compared to other media, email messages are extremely cheap to send. With TV, you are spending on ad agencies and cable channels. With print ads, you are helping to keep newspapers and magazines alive. Direct mail costs more than $600 per thousand pieces. With email, there are almost no costs at all. Its low cost makes email marketing become the most cost-effective (划算的) advertising method available today. With TV, you do not know who is watching your ads. Even with direct mail, you cannot be sure that your mail has been delivered, or that anyone reads it when it gets there. With email, you know within 24 hours exactly which messages have been opened, by whom, what links the opener clicked on, and what part of your message was working. Email marketing has become the most cost-effective advertising method because _______.

A、it is of extremely low cost

B、it is a new marketing method

C、it is popular with young people

D、it is the best marketing method available

Austerity measures are actions that a state undertakes in order to pay back its creditors. These measures typically involve slashing government expenditure and hiking taxes, and most of the time these are imposed on a country when its national deficit is believed to have become unsustainable. In this situation, banks may lose trust in the government's ability or willingness to repay existing debts, and in return can refuse to roll over current loans and demand cripplingly excessive interest rates on new lending. Governments frequently then turn to the International Monetary Fund (IMF), an inter-governmental organization that functions as a lender of last resort. In return, the IMF typically demands austerity measures so that the indebted country is able to curtail its budget deficit and fulfill their loan obligations.

A wave of austerity measures across Europe in 2010 has seen cuts and freezes to pensions, welfare and public sector salaries as well as hikes to some taxes and excises. The Greek programmed attempts to narrow its budget shortfall from 8.1 percent of GDP in 2010 to 2.6 percent of GDP in 2014 primarily by freezing public sector incomes during that period and reducing public sector allowances by 8 percent. Additionally, VAT--the Greek sales tax--will be elevated to 23 percent, and excises on fuel, tobacco and alcohol are also subject to an increase. The statutory retirement age for women will be raised to 65, matching it with the current retirement age for men. These reforms have been deeply unpopular in Greece, prompting a succession of general strikes that have further dented the economy.

IMF-imposed austerity measures have been indicted for encouraging the deep recession following the Asian financial crisis of 1997. Starting from the early 1990s, international investors from wealthier countries such as Japan and the United States began pouring money into Southeast Asia, looking to make some quick returns, and the soaring economies of Thailand, Philippines, Malaysia and others earned themselves the title "the Asian tigers". When things started to turn sour, however, the foreign investors panicked and retracted their investments en masse, decimating Asian currencies and turning millions of employees out of work. The IBM’s role in the recovery was to impose austerity measures that kept interest rates high while driving down wages and labor standards at a time when workers were already suffering. According to one former IMF economist, these interventions on a global scale have caused the deaths of 6 million children every year.

Many economists consequently view austerity measures as a terrible blunder. John Maynard Keynes was the first to propose an alternative method, long before the Asian financial crisis. Governments, he attempted to demonstrate, could conceivably spend their national economy out of debt. Although logically implausible at first blush, this argument is based on the notion that recessions deepen from a persistent cycle of low incomes, low consumer spending and low business growth. A government can theoretically reverse this downward spiral by injecting the economy with much needed (albeit borrowed ) capital. This is not equivalent to an indebted consumer spending further into the red, Keynes argued, because while the consumer gains no further income on that expenditure, the government's dollar goes into the economy and then partially boomerangs later on in the form. of taxation.

Nobel-prize winning economist Joseph Stilts follows up on this approach by noting that households across the world are currently burdened with debt. For businesses to grow, he argues, government and consumer expenditure must kick in first. Austerity measures lower the spending capacity of households, and are therefore considered under-productive. Another recipient of the Nobel Prize, Paul Kurgan, points to the recent experiences of countries such as Ireland, Latvia and Estonia. Countries that implement austerity are the "good soldiers" of the crisis, he notes, implementing savage spending cuts. "But their reward has been a slump—and financial markets continue to treat them as a serious default risk".

In the United Kingdom, Prime Minister David Cameron defended the necessity of austerity measures for his country by denouncing the frivolity of governments that ratchet up spending at a time the economy is contracting. This is in line with the counter-Keynesian viewpoint, known broadly as the neoclassical position. Neoclassical economists argue that business is "inspired" by fiscally conservative governments, and this "confidence" helps re-ignite the economy. A British think-tank economist, Marshall Auer back, questions this line of thinking, wondering if Cameron suggests governments should only "ratchet up spending when the economy is growing." This, Auer back warns, should be avoided because it presents genuine inflationary dangers.

Questions 27-31

Complete the summary below.

Choose NO MORE THAN TWO WORDS from the passage for each answer.

Write your answers in boxes 27-31 on your answer sheet.

A government can undergo austerity measures by cutting spending and/or raising (27) If banks do not believe that a government will settle its debts, they may ask for (28) that are too high to pay back. In these cases, the IMF is sometimes prepared to lend money to these governments. One of the conditions of IMF loans is that recipient countries undergo austerity measures to reduce their (29) and repay any debts.

The IMF has attracted criticism for its role in Asia after the 1997 financial crisis. The crisis was caused when international investors pulled their money out of the region at once, causing (30) to fail and unemployment to rise. The IMF's austerity measures set conditions that lowered incomes and (31) . These policies have caused great suffering internationally.

(27)

— Read the article on the opposite page about identifying the training needs of staff.

— In most of the lines 34 - 45 there is one extra word. It is either grammatically incorrect or does not fit in with the meaning of the text. Some lines, however, are correct.

— If a line is correct, write CORRECT on your Answer Sheet.

— If there is an extra word in the line, write the extra word in CAPITAL LETTERS on your Answer Sheet.

— The exercise begins with two examples, (0) and (00).

Identifying training needs

The financial benefits of training are sometimes hard to demonstrate, and often the

training budget is the first to be reduced instead when spending is under pressure. For

34 this reason, and given that the need for any corporate spending to provide maximum

35 value for money, it is important for the differences between individuals must to be

36 taken into account when considering training requirements. This makes for far more

37 effective training than a programme is based solely on generalisations about staff. After

38 all this, our abilities differ, and variations in previous experience can also play a

39 significant role in learning. Identifying training needs and their capabilities on an

40 individual basis is often carried out in appraisal interviews. In those workplaces where

41 each employee's productivity is measured, such records may be considered during the

42 appraisal, allowing for the possibility that inadequate training can be identified as if the

43 reason for low productivity. Training requirements are also evaluated in such

44 assessment centres, and in which groups of staff are observed while taking part in job

45 simulation activities. Although these are often used to assess potential for promotion, but

can also show employees' training needs within their current job.

longer than you can remember？ Are your tires wearing thin？ Harrison Auto Center can help you with these and any other automotive problems, no matter how big or small.

Harrison Auto Center is one of the few (87) independently owned repair shops in the city. Since 1975, we've been working on cars, trucks, and motorcycles with a high level of expertise and a low price point. Our commitment to excellence (88) us the loyalty of a large and growing customer base. In 2010, we were even named "Best Automotive Repair Shop" by the Daily Bugle!

We welcome you to stop by today and find out what makes us better than the rest. We'll sit you down in our comfortable waiting room, complete with complimentary coffee and magazines, and (89) your auto trouble in record time. What's more, we'll tell you what's worth spending the money to fix and what's not! Clearly, we're not your average mechanics!

(47)

A．sustaining

B．appearing

C．remaining

D．inquiring