Part IV Cloze Test (15 minutes, 10 points)

Directions: There are 10 blanks in the following passage. For each numbered blank, there are 4 choices marked A, B, C and

D. Choose the best one and mark your answer on the answer sheet with a single line through the center.

The development of e-commerce may well bring the world into a brand new era of “electronic currency”. At the moment, 51 areas in Europe, the United States and Asia have already started studying the possibility of an electronic currency. Electronic currency is not only about currency. It 52 to an entire finance system on the Net. It includes a virtual numeric currency, an electronic system of withdrawals, transfers and loans, and 53 cards of all shapes and sizes. The 54 of an electronic currency system implies the emergence of “virtual banks” and “virtual enterprises”. Actually, the first virtual bank appeared in the US in 1995. 55 it is a small and insignificant bank, it represents the trend of the future. In time to come, we may even have to 56 the familiar paper currency.

As the Net pushes the economy 57 rapidly, the economy is also bringing the Net market forward, resulting in the Internet itself becoming the world’s largest emerging market. Of course, this is just the beginning. Although there are many companies which made huge profits 58 in the Internet market, they tend to be small companies. To date, most companies are making losses. The competition in the knowledge-based economy will also be more 59 . This will definitely promote 60 and more efficient cooperation.

51.

A. developing

B. building

C. built

D. developed

52.

A. bridges

B. camps

C. refers

D. casts

53.

A. phone

B. credit

C. personal

D. borrowing

54.

A. appearance

B. disappearance

C. campaign

D. ceremony

55.

A. If

B. After

C. Until

D. Although

56.

A. promote

B. abandon

C. encourage

D. celebrate

57.

A. ahead

B. backward

C. front

D. behind

58.

A. invested

B. comparing

C. investing

D. compared

59.

A. competent

B. intense

C. comparative

D. interior

60.

A. rougher

B. mere

C. serious

D. greater