Somali pirates (海盗) robbed three Thai fishing ships with 77 sailors on board nearly l,200 Miles off the
Somali coast, the farthest-off-shore attack to date, an officer said Tuesday.
     Pirates have gone farther south and east in answer to increased patrols (巡逻) by warships off the Somali
shore. The robbing of the three ships Sunday was about 600 miles outside the normal operation area for the
international force, said a spokesman.
     The spokesman said the attack so far out at sea was a clear sign that the international patrols against pirates
were having a "marked effect on pirate activity in the area".
     "Once they start attacking that far out, you're not even really talking about the Somali basin or areas of water
that have any connection with Somalia," said an officer, Roger Middleton. "Once you're that far out, it's just
the Indian Ocean, and it means you're looking at trade going from the Gulf to Asia, from Asia to South Africa." 
     "This is the farthest robbing to date. They are now operating near the Maldives and India," said another
officer.
     The three ships-the MV Prantalay l l,12, a nd l 4-had 77 members on board in total. All of them are Thai,
the spokesman said. Before the Sunday robbing, pirates held l l ships and 228 sailors.
     Pirates have increased attacks over the past year in hopes of catching more dollar payments. Because of
increased patrols and defenses on board ships, the success rate (率) has gone down, though the number of
successful attacks has stayed the same year over year.

1. The pirate attack reported in the text happened _____.

A. far out in the Indian Ocean
B. in the normal patrol area
C. near the Somali, coast
D. in the south of Africa

2. According to the text, which can best describe the situation of the pirate problems?

A. More goods on board are lost.
B. Pirate attacks happen in a larger area now.
C. The number of attacks has stayed the same these years.
D. Pirate attacks are as serious as before along the Somali coast.

3. Which is true about the warship patrols according to the text?

A. The patrols are of little effect.
B. The patrols are more difficult.
C. More patrols are quite necessary even in Asia.
D. The patrols only drive the pirates to other areas.

4. How many sailors were held by the pirates up to the time of the report?

A. 228.
B. 77.
C. 383.
D. 305.

     Some people believe that international sports create goodwill between the nations and that if countries play
games together they will learn to live together. Others say that the opposite is true: those international contests
encourage false national pride and lead to misunderstanding and hatred. There is probably some truth in both
arguments, but in recent years the Olympic Games have done little to support the view that sports encourages
international brotherhood. Not only was there the tragic incident involving the murder of athletes, but the Games
were also ruined by lesser incidents caused principally by minor national contests.
     One country received its second-place medal with visible indignation after the hockey final. There had been
noisy scenes at the end of the hockey match, the losers objecting to the final decisions. They were convinced
that one of their goals should not have been disallowed and that their opponents' victory was unfair. Their
manager was in a rage when he said:"This wasn't hockey. Hockey and the International Hockey Federation are
finished." The president of the Federation said later that such behavior could result in the suspension of the team
for at least three years.
     The American basketball team announced that they would not yield first place to Russia, after a disputable
end to their contest. The game had ended in disturbance. It was thought at first that the United States had won,
by a single point, but it was announced that there were three seconds still to play. A Russian player then threw
the ball from one end of the court to the other, and another player popped it into the basket. It was the first time
the USA had ever lost an Olympic basketball match. An appeal jury debated the matter for four and a half hours
before announcing that the result would stand. The American players then voted not to receive the silver medals. 
     Incidents of this kind will continue as long as sport is played competitively rather than for the love of the
game. The suggestion that athletes should compete as individuals, or in non-national teams, might be too much
to hope for. But in the present organization of the Olympics there is far too much that encourages aggressive
patriotism (爱国主义).

1. According to the author, the recent Olympic Games have ______.

A. created goodwill between nations
B. bred only false national pride
C. barely showed any international friendship
D. led to more and more misunderstanding and hatred

2. What would the manager mean by saying, "...Hockey and the International Hockey Federation are finished"?

A. His team would no longer take part in international games.
B. Hockey and the Federation are both ruined by the unfair decisions.
C. There should be no more hockey matches organized by the Federation.
D. The Federation should be dissolved.

3. The basketball example implied that ______.

A. too much patriotism was displayed in the incident
B. the announcement to prolong the match was wrong
C. the appeal jury was too hesitant in making the decision
D. the American team was right in rejecting the silver medals

4. What conclusion can be drawn from the passage?

A. The organization of the Olympic Games must be improved.
B. Athletes should compete as individuals in the Olympic Games.
C. Sports should be played competitively rather than for the love of the game.
D. International contests are liable for misunderstanding between nations.

     In Western countries people have been using the installment plan since the first half of the twentieth
century. Today, a large number of families in Great Britain buy furniture, household goods and cars by
installments. In the U. S., the figure is much higher than in Great Britain, and people there spend over 10
percent of their income on the installment plan.
     The price of an article bought on installments is always higher than the price that would be paid by cash.
There is a charge for interest. The buyer pays one quarter or one third of the price as a down payment when
the goods are delivered to him. He then makes regular payments, weekly or monthly, until the full price is paid
up. The legal ownership of the goods remains with the seller until the final payment has been made.
     Installment buying has advantages and disadvantages. It can help couples with small incomes to furnish
their homes and start housekeeping. It increases the demand for goods, and in this way helps business and
employment. There is, however, the danger that when business is bad, installment buying may end suddenly,
making business much worse. This may result in a great increase in unemployment. If the people on the
installment plan lose their jobs, they will probably not be able to make their payments. If great numbers of
people are not able to pay their installment debts there is a possibility that businessmen cannot collect their
debts and will therefore lose money. If businessmen lose money or fail to make a satisfactory profit, it
becomes more likely to have a depression. This is why, in some countries, the government controls the
installment plan by fixing the amount of the down payment and installments to discourage people from
buying more than they can pay for on the installment plan.

1. Which of the following is NOT true about the installment plan?

A. A lot of British families use the installment plan.
B. More than 10 percent American families buy things on installments.
C. Americans depend more on installment than British people do.
D. Americans spend one tenth of their income on installment buying.

2. Goods bought on installments are more expensive than goods bought by cash because _____.

A. the buyer has to pay extra money as interest
B. the delivery of the goods charges extra money
C. the buyer has to pay a down payment
D. the service offered by installment plan charged extra money

3. What will happen to a buyer if he fails to make the full payment for an item bought on installments?

A. He might lose his job.
B. He will stop owning the item he has bought.
C. He will have to sell what he has bought.
D. He will go into debt.

4. The advantage of installment buying might include all the following EXCEPT that _____.

A. purchasing power is strengthened
B. employment might be increased
C. people develop a good habit of saving money
D. young couples are able to furnish their homes

5. In some countries, the governments control the installment plan to _____.

A. increase employment
B. avoid depressions
C. ensure that businesses make good profits
D. ensure that people can pay for what hey buy

     Leaders of the European Union say they will help Greece as it struggles under a mountain of debt. They
promise to take action, 1______ needed, "to maintain financial stability in the euro (欧元) area as a whole."
     But the leaders did not announce any 2______ (detail) plan for Greece after meeting Thursday in Brussels.
they said that was 3______ Greece has not requested any financial support. European Commission President
said this means the government believes 4______ does not need the support.
     Businessmen had a mixed reaction 5______ the statements fromBrussels. Worries over Greek debt have
pushed the euro to its 6______ (low) value in months against the dollar. European Union finance ministers
are expected to talk about Greece when they meet in the Belgian capital next week.
     Sixteen of 7______ twenty-seven nations in the European Union use the euro as their currency. Now,
the stronger members 8______ (seek) ways to help the weaker ones.
     European Union rules limit the choices for a rescue. The European Central Bank and national central banks
are not permitted to aid members by purchasing their debt. European officials hope to avoid the economic
disasters 9______ could become even worse if Greece fails 10______ (pay) its debt. This year Greece's debt
could reach 120% of its GDP.

     Homebuyers nationwide are watching housing prices going up, up, and up. "How high can they go?''
is the question on everyone's lips?" As long as interest rates stay around 5 percent, nothing might be able
to prevent housing prices going up," said one house seller in Santa Monica, California.
     "It's crazy," said Tim, who is looking for a house near the beach. "In 1993, I bought my first place,
a two bedroom flat in Venice, for $70 000. My friends thought then that I was overpaying. Five years
later, I had to move. I sold it for $230 000, which was a nice profit. Last year, while visiting friends here, 
I saw in the local paper that the exact same flat was for sale for $510 000!"
     It is a seller's market. Homebuyers feel 1ike they have to offer at least 10 percent more than the asking
price.Donna, a new owner of a one-bedroom flat in Venice Beach, said, "That's what I did. I told the owner
that whatever anyone offers you, I'll give you $20 000 more, under the table, so you don't have to pay your
house seller any of it. I was tired of negotiating with the house sellers.
     Tim says he hopes he doesn't get that desperate. "Whether you decide to buy or decide not to buy, you
still feel like you made the wrong decision. If you buy, you feel like you overpaid. If you don't buy, you
want to kick yourself for passing up a great opportunity."
     Everyone says the bubble (泡沫) has to burst sometime, but everyone hopes it will burst the day after
they sell their house. Even goverment officials have no idea what the future will bring. "All we can say is
that, clearly, these things go in regular cycles," said the state director of housing. "What goes up must come
down. But, as we all know, housing prices always stay up a little higher than they go down. So you can't
lose over the long run. Twenty years down the road, your house is always worth more than you paid for it."

1. If Tim had sold his flat last year, he could have earned _____.

A. $510 000
B. $440 000
C. $280 000
D. $160 000

2. Donna paid another $20 000 to the owner secretly because _____.

A. she felt like offering 10% more
B. secret money made low price
C. the owner asked for the money
D. she was bored with bargaining

3. We can infer from Tim's words in paragraph 4 that _____.

A. homebuyers feel hesitate facing rising house prices
B. buying a house is always a great opportunity
C. homebuyers never make the right decision
D. both sellers and buyers become desperate

4. What is the author's opinion about the housing bubble? 

A. It is something everyone hates to see.
B. Only experts know when it will burst.
C. It is unavoidable in the regular circles.
D. It usually stays for about twenty years.

     The need to feed a growing population is putting much pressure on the world's supply of water. With 97%
of the world's water too salty to salty to be drunk or be drunk or used in agriculture, the worldwide supply of
water needs careful management, especially in agriculture. Although the idea of a water shortage (短缺) seems
strange to someone fortunate enough to live in a high rainfall country, many of the world's agricultural industries
experience constant water shortages.
     Although dams can be built to store water for agricultural use in dry areas and dry seasons, the costs of
water redistribution (重新分配) are very high. Not only is there the cost of the engineering itself, but there is
also an environmental cost to be considered. Where valleys (山谷) are flooded to create dams, houses are lost
and wildlife homes destroyed. Besides, water may flow easily through pipes to fields, but it cannot be
transported from one side of the world to the other. Each country must therefore rely on the management of
its own water to supply its farming requirements.
     This is particularly troubling for countries with agricultural industries in areas dependent on irrigation (灌溉).
In Texas, farmers' overuse of irrigation water has resulted in a 25% reduction of the water stores. In the
Central Valley area of southwestern USA, a huge water engineering project provided water for farming in dry
valleys, but much of the water use has been poorly managed.
     Saudi Arabia's attempts to grow wheat in desert areas have seen the pumping of huge quantities of irrigation
(灌溉) water from underground reserves. Because there is no rainfall in these areas,such reserves can only
decrease, and it is believed that fifty years of pumping will see them run dry.

     In cities with rent control, the city government sets the maximum rent that a landlord can charge for an
apartment. Supporters of rent control argue that it protects people who are living in apartments. Their rent
cannot increase, therefore, they are not in danger of losing their homes. However, the critics say that after
a long time, rent control may have negative effects. Landlords know that they cannot increase their profits.
Therefore, they invest in other businesses where they can increase their profits. They do not invest in new
buildings which would also be rent-controlled. As a result, new apartments are not built. Many people who
need apartments cannot find any. According to the critics, the end result of rent control is a shortage of
apartments in the city.
     Some theorists argue that the minimum wage law can cause problems in the same way. The federal
government sets the minimum that an employer must pay workers. The minimum helps people who generally
look for unskilled, low-paying jobs. However, if the minimum is high, employers may hire fewer workers.
They will replace workers with machinery. The price, which is the wage that employers must pay, increases.
Therefore, other things being equal, the number of workers that employers want decreases. Thus, critics
claim, an increase in the minimum wage may cause unemployment. Some poor people may find themselves
without jobs instead of with jobs at the minimum wage.
     Supporters of the minimum wage say that it helps people keep their dignity. Because of the law, workers
cannot sell their services for less than the minimum. Furthermore, employers cannot force workers to accept
jobs at unfair wages.
     Economic theory predicts the results of economic decisions such as decisions about farm production, rent
control, and the minimum wage. The predictions may be correct only if "other things are equal". Economists
do not agree on some of the predictions. They also do not agree on the value of different decisions. Some
economists support a particular decision while others criticize it. Fconomists do agree, however, that there are
no simple answers to economic questions.

1. There is the possibility that setting maximum rent may _____.

A. cause a shortage of apartments
B. worry those who rent apartments as homes
C. increase the profits of landlords
D. encourage landlords to invest in building apartment

2. There is the possibility that setting maximum rent may _____.

A. cause a shortage of apartments
B. worry those who rent apartments as homes
C. increase the profits of landlords
D. encourage landlords to invest in building apartment

3. The problem of unemployment will arise _____.

A. if the minimum wage is set too high
B. if the minimum wage is set too low
C. if the workers are unskilled
D. if the maximum wage is set

4. The passage tells us _____.

A. the relationship between supply and demand
B. the possible results of government controls
C. the necessity of government control
D. the urgency of getting rid of government controls

5. Which of the following statements is NOT true?

A. The results of economic decisions can not always be predicted.
B. Minimum wage cannot always protect employees.
C. Economic theory can predict the results of economic decisions if other factors are not changing.
D. Economic decisions should not be based on economic theory.

     From 1964 to 1978, Dazhai, with a population of 500, was the most famous village in China. Millions
of Chinese came to the Shanxi village to visit its terraced fields (梯田) and "splendid" irrigation systems.
     It was not until 1978 when Guo Fenglian, head of the village, paid a visit to the US that China's model
village found how far it had fallen behind those in developed countries.
     "I was astonished at their modern equipment in harvesting, which could even separate big tomatoes
with small ones," said Guo. "American farmers' life quality also impressed me a lot. Every day they had
two cups of milk, which is something we don't have even m our wildest dreams."
     "We have to learn their advanced technology and administration for our own development," said then
first Deputy Prime Minister Deng Xiaoping who was planning China's reform and opening up policy then.
"Through opening our doors, we would not only take advantage of foreign funds (资金), but also create
job opportunities and cultivate (培养) talents."
     In 1978 Japanese electricity giant Panasonic (松下) came 'to China as the first foreign business to invest
(投资) here and its success attracted other world brands into exploring the Chinese market. So far China
has for 15 years taken in the world's second biggest foreign investment, following the US, to help set the
country in a fast growth.
     However, China's 30-year road of reform was not always smooth. Doubts on the reform began to rise
at the end of the 1980s as many people worried the country would turn to capitalism.
     "The criterion for our judgment is whether it helps develop socialist productive forces, whether it helps
increase the overall national strength of a socialist country, and whether it brings about better living standards,"
said Deng.
     "China's reform and opening up is a unique success story. It has brought benefit to both China and the
world," said William Keller, chief manager of a Swiss pharmaceutical (制药的) company.

1. Dazhai was not famous for _____.

A. the wonderful irrigation systems
B. its terraced fields
C. its modern equipment
D. the farmer's life

2. Guo Fenglian was _____ at the sight of the modern equipment in harvesting when she visited the US
    in 1978.

A. shocked
B. delighted
C. excited
D. attracted

3. _____ was the first big country to invest in China.

A. America
B. Japan
C. Swiss
D. Panasonic

4. Many people have doubts about the reform _____.

A. in 1978
B. in 1980
C. in 1981
D. at the end of the 1980s

5. According to remarks by Deng, which one is NOT the criterion for judging the success or failure of our work in various fields?

A. Whether it helps develop socialist productive forces.
B. Whether it strengthens the overall capacity of the country.
C. Whether it brings about better investment and more profit.
D. Whether it improves the peoples living standards.

     Do you ever wonder about the smartest way to spend your allowance (零用钱)? Twelve-year-old Fabian
Fernandez-Han might have a few good ideas for you. Fabian won the NYSE Financial Future Challenge,
sponsored by the New York Stock Exchange (NYSE) Foundation. He received a prize of $2500 and had the
honor of ringing the closing bell at the stock exchange on January 11.
     The contest aimed at getting young people to think about money management and investing. Kids ages 6 to
19 were asked to create a product idea that would teach their peers about finances and the stock market, and
inspire them to think about saving or investing money. Financial experts chose five finaltsts, including Fabian,
from thousands of entries. Voters on Bykids-forkids.com picked Fabian's "Oink-a-Saurus" as the winner.
     Fabian's Oink-a-Saurus is an idea for an iPhone or iPod app, a computer program that runs on Apple phones
and MP3 players. Oink-a-Saurus would gather information about people's interests and spcnding habits by
tracking what they browsed online or bought in stores. Like an imaginary piggy bank. Oink-a-Saurus would then
show how much money a user might have earned by saving and/or investing the money, instead of spending it.
     The other finalists offered their own cool ideas for teaching kids about finance. Eight-year-old Tyra Smith
proposed "Stock Pocket", a game that would use electronic flashcards. Players would learn facts about the
stock market and win points by answering questions correctly. Twelve-year-old Kelsey Foss suggested a reality
TV show called "Stock Market Tycoon Idol". On the show, kids would compete to make or lose virtual money
by investing in the stock market. Her plan included adult experts helping the kids and teaching the audience about
money at the same time.
     Fabian and the other contestants tackled (处理) a very tough topic. Investing in the stock market is tricky
even for many adults to understand. The New York Stock Exchange is the biggest American marketplace for
buying and selling stocks, or parts of public companies. While some companies are privately owned by a person
or family, many big companies divide ownership into share or many little pieces of the company's total value.
Together, the shares are called stock. People can invest their money in a company by buying one or more of its
shares. If the company does well, the value of the investment usually goes up. If they wish, investors can then
sell their shares at a profit. Money can be lost in the stock market as well, when the value of shares falls. Many
investors lost money during the recent economic downturn.

1. In the New York Stock Exchange Financial Future Challenge, the goal was to _____.

A. make as much money as possible in the stock market
B. create an idea for a product that would help kids learn about money management and investing
C. compete for jobs on the floor of the stock exchange
D. pass a test about money management and investing

2. Finalists in the Financial Future Challenge were chosen by _____.

A. kids aged 6 to 19
B. teachers and principals
C. computer experts
D. money experts

3. To use Oink-a-Saurus, a kid would need _____.

A. a cell phone or an MP3 player
B. a computer and a partner
C. stock in at least one company
D. a low-interest credit card

4. Which of the following is NOT the example of the great ideas of the finalists?

A. Oink-a-Saurus.
B. iPod app.
C. Stock Pocket.
D. Stock Market Tycoon Idol.

5. In the last paragraph the writer tries to explain _____.

A. what the stock market is
B. what adults should help kids with
C. how to make an investment
D. how to make a great idea