Ⅰ LISTENING TEST (20 points)(略) Ⅱ Vocabulary (10 points)
1. B 2. B 3. A 4. D 5. C 6. B 7. D 8. A 9. B 10. B
11. A 12. C13. D 14. C 15. A 16. A 17. D 18. D 19. B 20. C Ⅲ Cloze (10 points)
21. B 22. D 23. A 24. C 25. B 26. A 27. D 28. B 29. B 30. C 31. B 32. D 33. D 34. C 35. B 36. B 37. A 38. A 39. B 40. A Ⅳ Reading Comprehension (20 points) Passage 1
41. A 42. B 43. D 44. C 45. C Passage 2
46. A 47. B 48. B 49. C 50. C Passage 3
51. D 52. B 53. C 54. D 55. C Passage 4
56. C 57. C 58. B 59. B 60. D Ⅴ Translation (20 points)
既然投机有很大的带来损失的风险，我们可能要问为什么还会允许进行投机呢。根本
原因在于投机能在经济发展中发挥有益的功能。由于相信价格会上涨从而买商品或期货加快了市场均衡，并能鼓励更多的供应商更快地进入市场。如果价格变化滞后到商品短缺真正出现时才发生，那么价格波动很可能更为剧烈、突然。采取补救措施增加供应将刻不容缓。类似的，如果投机者预见到某商品将过剩，他们就会卖出期货，这样做有助于在过剩真正发生之前在一定程度上降低价格。而当投机者预见到将会出现短缺的时候，就会哄抬物价，这样做也有助于保存当前的供给。物价上涨时，商品购买量就会变少，因为价格上涨将促使消费者节约。同样的，物价下跌将促使消费者增
China has developed into a big, extremely attractive and realistic market in the global context. Many farsighted entrepreneurs from countries and regions all over the world have paid their attention to China and got generous profits in return from their investment activities. I believe that, after China’s entry into WTO, more opportunities will be created for the participation of foreign entrepreneurs in the investment activities in China and lager space for their own development. The investment activities in China will surely serve as a bridge connecting entrepreneurs from all the countries and regions in the world and the Chinese market, and promote the common economic development and prosperity of China and the world. Ⅵ Writing (20 points)