d. because the region has a wealth of raw materials 6. One can understand from the text that the Amazon basin .............
a. is producing less and less in the way of raw materials
b. still remains a challenge to businessmen and does not give easy profits c. is rich in rubber, coffee and cocoa, but in nothing else at all
d. is fast becoming one of the world's major industrial regions
As industrial developments have distorted production methods, types of automatic equipment
and varieties of outputs, society has begun to be familiar with economic progress involving not
only changes in machinery but also in man-not only expenditures on equipment but also on
people. Asset in people makes it possible to take advantage of technical progress as well as to
keep on that progress. Upgrading in health makes asset in education more satisfying by
extending life expectations. Asset in education expands and extends knowledge, causing
advances that raise productivity and improve health.
7. To the author, asset in education ....................... .
a. has a direct impact on production techniques
b. will contribute positively to human progress c. has little significance for economic progress
d. is far more important than investment in health
8. The passage is mainly dealing with ........................ .
a. the question of economic progress and productivity
b. the necessity of improvement in health services
c. long term benefits of investment in education d. the impact of economy in life expectancy
9. According to the passage, ........................ .
a. questions of increased output must be given priority
b. economic progress depends largely on technological developments
c. expenditures should be evenly distributed among the sector
d. society was slow to realize the need to invest in man Both as a line of work and as a discipline, economics lost substantial status during the recession
of 1984-85. The crisis that seized the western developed countries, including US, was of a
character not to be found in economics textbooks: rate of inflation exceeding 20% a year
attached with diminishing production and high rates of unemployment. Up till now, peacetime
price rises had been linked with high employment and an overactive economy, while high rates
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of unemployment went with decline or misery. The next combination was rightly called
stagflation.
10. According to the passage, the term stagflation means ........................ .