America’s Federal Reserve cut interest
rates by another quarter-point, to 3.75%. Wall Street, which had been
(1) for a sixth half-point cut, was disappointed. The Dow fell
by 2% (2) the week. The past week’s economic statistics gave
mixed signals. Exports dropped by 2% in both March and April, largely
(3) a decline in high-tech investment (4) ;
the merchandise-trade (5) widened to $458 billion in the 12
months (6) April. (7) , the Conference
Board’s index of consumer confidence was higher than (8) in
June. Concerns (9) inflation in the euro
area (10) . Preliminary data (11) that
German consumer- price inflation fell to 3.1% in the year to June, from 3.5% in
May; wage growth (12) to 1.4% in April, a real pay cut of
1.5%. Some economists fear that Germany is on A. harshly B. huskily C. strictly D. severely
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America’s Federal Reserve cut interest
rates by another quarter-point, to 3.75%. Wall Street, which had been
(1) for a sixth half-point cut, was disappointed. The Dow fell
by 2% (2) the week. The past week’s economic statistics gave
mixed signals. Exports dropped by 2% in both March and April, largely
(3) a decline in high-tech investment (4) ;
the merchandise-trade (5) widened to $458 billion in the 12
months (6) April. (7) , the Conference
Board’s index of consumer confidence was higher than (8) in
June. Concerns (9) inflation in the euro
area (10) . Preliminary data (11) that
German consumer- price inflation fell to 3.1% in the year to June, from 3.5% in
May; wage growth (12) to 1.4% in April, a real pay cut of
1.5%. Some economists fear that Germany is on A. expecting B. hoping C. wishing D. dreaming
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