2 . Directions：Fill in each blank with a proper word chosen from the box. Each word can be used only once. Note that there is one word more than you need.

A. necessity	B. threat	C. neighbouring	D. adjusted
E. unlikely	F. decline	G. cooperated	H. questions
I. profitable	J. imposing	K. gains

New York and New Tax

According to a Manhattan Institute survey, more than half of high-earning New Yorkers are working entirely from home and 44% are considering leaving the city. Ned Lamont, Connecticut’s governor, has said “the old idea of the commuter(通勤者) going into New York City five days a week may be outdated.” It does seem     1     that the tens of thousands commuting from Mr. Lamont’s state will continue to do so. The region’s governors have     2     well together to deal with the pandemic(流行病), but the friendliness may soon end over taxes.

When people from     3     states like New Jersey and Connecticut commute to New York to work for a New York-based employer, they must pay New York tax on the related earned income. Even those who work from home must pay New York taxes unless the employee is working outside New York by     4    .

Taxpayers and those states are looking closely at this loophole(漏洞). In December, Connecticut and New Jersey applied to the Supreme Court to consider a case which     5     a state’s authority to tax non-residents’ income while they are working remotely. They think this is definitely a(n)     6     to the city’s finances. “Firms have considered leaving the city before, and employees are gradually accepting the idea. They have been working remotely for almost ten months and they’ve     7     to that idea.”

Companies are also watching the progression of the billionaire Mark to Market Tax Act, which would treat capital     8     from billionaires’ property as taxable income. New York’s Democratic governor said he would reject any laws     9     heavy taxes on the rich, because it would drive out wealthy, mobile residents. It would not take too many moving trucks for the city to feel the economic loss, says Michael Hendrix. A 5%     10     of New Yorkers making about $10,000 would result in an annual loss of $933m—roughly the amount distributed to the city’s health department.

3 . Directions: Complete the following passage by using the words in the box. Each word can only be used once. Note that there is one word more than you need.

New E-Commerce Law Takes Effect

China’s new e-commerce law, which was passed last August, took effect on January 1. The law comes amid the rapid development of China into the world’s largest e-commerce market.

The law aims to regulate the market and create a sound     1     environment. It covers the requirement for registration and licensing of e-commerce operators, taxation, electronic payment, etc. It also     2     other important aspects of e-commerce, including false advertising, consumer protection, data protection, intellectual property and cybersecurity.

The new law will apply to three types of operators. These include e-commerce     3     operators like Taobao, third-party merchants who sell goods and services on e-commerce platforms, and online vendors (供应商) who do business via other network     4    , such as social media sites. It means that merchants who sell goods through non-traditional e-commerce platforms, such as WeChat, will fall under the new law. These sellers will now need to finish their business registration and pay     5     taxes.

The law will make all e-commerce platform operators     6     responsible with the merchants for selling any fake or knock-off goods on their websites. Before the law took effect, individual merchants were solely responsible when caught selling liable (负有偿付责任的) goods.

The implementation of the law may bring     7     on online retail (零售) companies and merchants selling goods through social media sites. Many private shopping agents (known as daigou) are considering whether to continue the service under the new policy since it will increase the management cost and lead to a rise in the product price.

But the new law does not aim to     8     small to medium sized online retailer. Instead, it helps lay the legal foundation for the growth of the e-commerce business industry,     9     order in the market and further promotes its growth.

Besides, the law will help clean up China’s reputation as a     10     source of fake or knock-off goods. In the long term, consumers will benefit from it.

4 . Directions: Complete the following paragraphs by using the words in the box. Each word can only be used once.
Note that there is one word more than you need.

A Bad Idea

Think you can walk, dive, take phone calls, e-mail and listen to music at the same time? Well, New York's new law says you can't. And you'll be     1     $S100 if you do it on a New York City street.

The law went into force last month, following research and a(n)     2    number of accidents that involved people using electronic gadgets when crossing the street.

Who's to    3     ? Scientists say that our multitasking abilities are limited.

"We are under the impression that our brain can do more than it often can," says Rene Marois, a neuroscientist in Tennessee. “But a major limitation is the inability to    4    on two things at once".

The young people are often considered the great multitaskers. However, an Oxford University research suggests this idea is open to question. A group of 18-to 21-year-olds and a group of 35-to 39-year-olds were given 90 seconds to translate    5    into numbers, using a simple code. The younger group did 10 percent better when not interrupted. But when both groups were interrupted by a phone call or a(n)     6    message, the older group matched the younger group in speed and     7    .

It is difficult to measure the productivity    8    by multitaskers. But it is probably a lot. Jonathan Spire, chief analyst at Basex. a business-research firm, estimates the cost of interruptions to the American economy at nearly $650 billion a year.

The    9    is based on surveys with office workers. The surveys conclude that 28 percent of the workers' time was spent on interruptions and    10    time before they returned to their main tasks.

5 . Directions: Complete the following passage by using the words in the box. Each word can only be used once. Note that there is one word more than you need.

Minimum wage laws in the U.S. were first introduced during the 1930s in response to the Great Depression. This period was     1     by falling output, falling prices, and falling employment. The National Industrial Recovery Act (NIRA) of 1933 attempted to stop this downward trend by encouraging the     2     of trade association agreements that established the lowest price and minimum wages. This was the first time that minimum wages were introduced in major industries. But in 1935, the U.S. Supreme Court ruled that the NIRA was unlawful, and these initial minimum wage agreements came to an end.

In 1938, the Fair Labor Standards Act (FLSA) established a national minimum wage of $0.25 an hour. This Act     3     only applied to a relatively small share of the labor force, but has been     4     over time so that it now applies to about 90% of all nonsupervisory workers.

Introductory economies textbooks usually first introduce the minimum wage as an application of demand and supply analysis. This starting discussion is usually based on the following     5    : the labor market is perfectly competitive, the minimum wage covers all workers, and worker productivity is     6     by the wage rate.

While minimum wage increases generally receive     7     public support, economists have generally argued that such laws will result in an increase in the unemployment rate in low-wage labor markets.

An issue related to that of a minimum wage is a growing movement for a “living wage”.Living wage proposals suggest that the     8     minimum wage is too low to allow families to be above the poverty level. Now,     9     of this view support “living wage laws” that require the local government to only accept contracts from firms that pay their workers a wage that is high enough to     10     the worker above the poverty line. Under Baltimore’s “living wage” requirement, firms must pay a worker an hourly wage that will allow a full-time worker to receive an annual income greater than or equal to the poverty level for a family of three.

6 . A patent is an official document     1    (give)to an inventor by a government. This document     2    (general) gives inventors the right to stop anyone else from copying, using or selling the invention without their permission.

Inventions are the result of hard work. It may only take a moment of inspiration to think of a good idea but it takes a lot of research and experimentation to turn it into a(n)     3    (use)and working invention. So, inventors deserve a reward for the amount of time they spend     4    (develop)their ideas. They also need the     5    (secure) of knowing that if they share the invention with     6    rest of the world, nobody will steal it, use it or copy it without their permission.

Patents also benefit the society     7     return for patent protection. Inventors agree     8    (show)all the technical information about their invention. This information is available to everyone and has enough details     9    can be used by people with basic knowledge to produce the invention. In this way, patents help to spread new knowledge, which can in turn help people find     10    (solve)to different problems or to make further advances in science and technology.