New Mexico came through the recent recession in much better shape than most other states. It does not have a deficit. ... ... 12... ... States that rely primarily on a sales tax or on an income tax have big problems during economic downturns. Income growth per head in New Mexico averaged 6.1/00 in the year to October 1992-one of the fastest growth rates in the United States.

　　Charles Chapin

　　Example :C

　　A. It has a broadly based tax structure an important point.

　　B. In 1992 it produced more oil than Colorado and Kansas combined.

　　C. However, the extractive mineral industry in New Mexico is one of the state's strongest economic forces.

　　D. During fiscal year 1992 New Mexico raised permanent funds worth about $6.1 billion.

　　E. The combined value of oil and gas production was $ 2. 8 billion.

　　F. Some 16, 000 employees work in the extractive industries and their wages are among the highest of any major industry.

　　G. The $39 million earned by these funds in 1991 was used to finance education and other public services.

　　H. Only S 25 million came from agricultural taxes.

　　I. New Mexico's extractive mineral industries contribute about a third of the state's $ 1. 9 billion general-fund income in fiscal year 1991.

　　参考答案：

　　8. E 9. G 10. I 11. F 12. A　　

PART THREE

　　Questions 13-20

　　. Read this letter about Compensation Trade ,and answer the following questions.

　　Ministry of Foreign Trade 19th January , 1 993

　　Xi Changan Street

　　Beijing , China

　　Dear Sirs,

　　This letter is in regard to the window glass business between our firm and the China National Light industrial Products

　　Import & Export Corporation, Daren Branch and the Daren Window Glass Factory.

　　1. Our two sides sincerely worked in the past and the window glass business has already been done successfully. However,

　　the quantity of products doesn't meet our requirements. This company wants to develop the trade and business further in this

　　line. We now expect to begin working with all the other branches and window glass factories on the same basis ,i. e.

　　compensation trade.

　　2. For the U. S. A. market, we require very large quantities of small cut sizes. Therefore, we are asking your prompt

　　assistance to help us out in expanding glass-cutting business. We would highly appreciate it if you take this matter into

　　consideration. We are certain that ,with your prompt cooperation, our purchases of Chinese window glass for sale in the U. S.

　　A. market will very quickly increase to a large and substantial volume. With the establishment of diplomatic relations

　　between our two countries ,the time is now right for a very quick and large increase in trade between us.

　　3. For your information, we are doing everything possible to cooperate in achieving our mutual goal of making the window

　　glass business a very large one. We have offered to purchase various equipment for your Dairen factory which will increase