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Text 3Could the bad old days of economic decline be about to return Since OPEC agreed to supply-cuts in March, the price of crude oil has jumped to almost $26 a barrel, up from less than $10 last December. This near tripling of oil prices calls up scary memories of the 1973 oil shock, when prices quadrupled, and 1979—80, when they also almost tripled. Both previous shocks resulted in double-digit inflation and global economic decline. So where are the headlines warning of gloom and doom this timeThe oil price was given another push up this week when Iraq suspended oil exports. Strengthening economic growth, at the same time as winter grips the northern hemisphere, could push the price higher still in the short term.Yet there are good reasons to expect the economic consequences now to be less severe than in the 1970s. In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the 1970s. In Europe, taxes account for up to four-fifths of the retail price, so even quite big changes in the price of crude have a more muted effect on pump prices than in the past.Rich economies are also less dependent on oil than they were, and so less sensitive to swings in the oil price. Energy conservation, a shift to other fuels and a decline in the importance of heavy, energy-intensive industries have reduced oil consumption. Software, consultancy and mobile telephones use far less oil than steel or car production. For each dollar of GDP (in constant prices) rich economies now use nearly 50% less oil than in 1973. The OECD estimates in its latest Economic Outlook that, if oil prices averaged $22 a barrel for a full year, compared with $13 in 1998, this would increase the oil import bill in rich economies by only 0.25—0.5% of GDP. That is less than one-quarter of the income loss in 1974 or 1980. On the other hand, oil—importing emerging economies—to which heavy industry has shifted—have become more energy—intensive, and so could be more seriously squeezed.One more reason not to lose sleep over the rise in oil prices is that, unlike the rises in the 1970s, it has not occurred against the background of general commodity-price inflation and global excess demand. A sizable portion of the world is only just emerging from economic decline. The Economist’s commodity price index is broadly unchanging from a year ago. In 1973 commodity prices jumped by 70%, and in 1979 by almost 30%. It can be inferred from the text that the retail price of petrol will go up dramatically if （）.
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Questions 35-39Complete the table below.Use NO MORE THAN THREE WORDS for each answer.Elements of Stage 2ConsiderationsBudget Planning-most challenging element-try to plan (35) Allocation of Time-dependent on (36) - (37) used to identify tasks andschedules in units of work(38) -outlined in tender documents-help for this element can be obtained from (39) Manager 35（）
Questions 1-3Complete the Student Profile below.Use NO MORE THAN THREE WORDS OR A NUMBER for each answer.STUDENT PROFILE-GRISHAM COLLEGEStudent Number: (1) -EXTName: Jack LARASSY Course: Master of Linguistics School of Languages ＆Date of Birth: (2) ______ /______/ 1979 LiteracyAddress: (3) Avenue CHELMSFORD, CM3 94Y 1（）
The Nature of DisputesTo resolve a dispute means to turn opposing positions into a single outcome. The two parties may choose to focus their attention on one or more of three basic factors. They may seek to reconcile their interests, determine who is right, and/or determine who is more powerful.41．______Interests are needs, desires, concerns, fears—the things one cares about or wants. They provide the foundation for a person’s or an organization’s position in a dispute. In a dispute, not only do the interests of one party not coincide with those of the other party, but they are in conflict. For example, the director of sales for an electronics company gets into a dispute with the director of manufacturing over the number of TV models to produce. The director of sales wants to produce more models because her interest is in selling TV sets; more models mean more choice for consumers and hence increased sales. The director of manufacturing, however, wants to produce fewer models. His interest is in decreasing manufacturing costs and more models mean higher costs.42．______Reconciling such interests is not easy. It involves probing for deeply rooted concerns, devising creative solutions, and making tradeoffs and compromises where interests are opposed. The most common procedure for doing this is negotiation, the act of communication intended to reach agreement. Another interests based procedure is mediation, in which a third party assists the disputants, the two sides in the dispute, in reaching agreement.43．______By no means do all negotiations (or mediations) focus on reconciling interests. Some negotiations focus on determining who is right, such as when two lawyers argue about whose case has the greater merit. Other negotiations focus on determining who is more powerful, such as when quarrelling neighbors or nations exchange threats and counter threats. Often negotiations involve a mix of all threesome attempts to satisfy interests, some discussion of rights, and some references to relative power.44．______It is often complicated to attempt to determine who is right in a dispute. Although it is usually straightforward where rights are formalised in law, other rights take the form of unwritten but socially accepted standards of behavior, such as reciprocity, precedent, equality, and seniority.There are often different — and sometimes contradictory standards that apply to rights. Reaching agreement on rights, where the outcome will determine who gets what, can often be so difficult that the parties frequently turn to a third party to determine who is right. The most typical rights procedure, in which disputants present evidence and arguments to a neutral third party who has the power to make a decision that must be followed by both disputants. (In mediation, by contrast, the third party does not have the power to decide the dispute.) Public adjudication is provided by courts and administrative agencies. Private adjudication is provided by arbitrators.45．______A third way to resolve a dispute is on the basis of power. We define power, somewhat narrowly, as the ability to pressure someone to do something he would not otherwise do. Exercising power typically means imposing costs on the other side or threatening to do so. The exercise of power takes two common forms: acts of aggression, such as physical attack, and withholding the benefits that derive from a relationship, as when employees stop working in a strike. 43（）
SECTION 2: QUESTIONS 11-20Questions 11-13Choose the correct letter from A-C for each answer. It is difficult to chase the thieves because （）
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