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InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.20
Scientistssaytheyhaveachievedsmall-scalenuclearfusioninatabletopexperimentusingtriedandtruetechniquesthatareexpectedtogeneratefarlesscontroversythanpastsuchclaims. Thislatestexperimentreliedonatinycrystaltogenerateastrongelectricfield.WhiletheenergycreatedwastoosmalltoharnesscheapfusionpowerthetechniquecouldhavepotentialusesinmedicinespacecraftpropulsiontheoildrillingindustryandhomelandsecuritysaidSethPuttermanaphysicistattheUniversityofCaliforniaatLosAngeles. PuttermanandhiscolleaguesatUCLABrianNaranjoandJimGimzewskireporttheirresultsinThursday’sissueofthejournalNature. 41.Helduptoridicule Previousclaimsoftabletopfusionhavebeenmetwithskepticismandevenderisionbyphysicists. 42.Soundtheoreticalbasis FusionexpertssaidtheUCLAexperimentwillfacefarlessskepticismbecauseitconformstowell-knownprinciplesofphysics. 43.Energyinwaiting Fusionpowerhasbeentoutedastheultimateenergysourceandacleaneralternativetofossilfuelslikecoalandoil.Fossilfuelsareexpectedtorunshortinabout50years. 44.Processoffusion IntheUCLAexperimentscientistsplacedatinycrystalthatcangenerateastrongelectricfieldintoavacuumchamberfilledwithdeuteriumgasaformofhydrogencapableoffusion.Thentheresearchersactivatedthecrystalbyheatingit. 45.Commercialuses UCLA’sPuttermansaidfutureexperimentswillfocusonrefiningthetechniqueforpotentialcommercialusesincludingdesigningportableneutrongeneratorsthatcouldbeusedforoilwelldrillingorscanningluggageandcargoatairports. IntheNaturereportPuttermanandhiscolleaguessaidthecrystal-basedmethodcouldbeusedin"mierothrustersforminiaturespacecraft."InsuchanapplicationthemethodwouldnotrelyonnuclearfusionforpowergenerationbutratheronionpropulsionPuttermansaid. "Aswildasitisthat’saconservativeapplication"hesaid. A.Infusionlightatomsarejoinedinahigh-temperatureprocessthatfreeslargeamountsofenergy.Itisconsideredenvironmentallyfriendlybecauseitproducesvirtuallynoairpollutionanddoesnotposethesafetyandlong-termradioactivewasteconcernsassociatedwithmodernnuclearpowerplantswhereheavyuraniumatomsaresplittocreateenergyinaprocessknownasfission. B.Theresultingelectricfieldcreatedabeamofchargeddeuteriumatomsthatstruckanearbytargetwhichwasembeddedwithyetmoredeuterium.Whensomeofthedeuteriumatomsinthebeamcollidedwiththeircounterpartsinthetargettheyfused.Thereactiongaveoffanisotopeofheliumalongwithsubatomicparticlesknownasneutronsacharacteristicoffusion.Theexperimentdidnothoweverproducemoreenergythantheamountputin—anachievementthatwouldbeahugebreakthrough. C.Anothertechniqueknownassonoluminescencegeneratesheatthroughthecollapseoftinybubblesinaliquid.Somescientistsclaimthatnuclearfusionoccursduringthereactionbutthoseclaimshavesparkedsharpdebate. D.InaNaturecommentaryMichaelSaltmarshoftheOakRidgeNationalLaboratorysaidtheprocesswasinsomeways"remarkablylow-tech’drawinguponprinciplesthatwerefirstrecordedbytheGreekphilosopherTheophrastusin314B.C.."Thisdoesn’thaveanycontroversyinitbecausethey’reusingatriedandtruemethod"DavidRuzicprofessorofnuclearandplasmaengineeringattheUniversityofIllinoisatUrbana-ChampaigntoldTheAssociatedPress."There’snomysteryintermsofthephysics." E.InoneofthemostnotablecasesDr.B.StanleyPonsoftheUniversityofUtahandMartinFleischmannofSouthamptonUniversityinEnglandshockedtheworldin1989whentheyannouncedthattheyhadachievedso-calledcoldfusionatroomtemperature.Theirworkwasdiscreditedafterrepeatedattemptstoreproduceitfailed. F.Thetechnologyalsocouldconceivablygiverisetoimplantableradiationsourceswhichcouldtargetcancercellswhileminimizingdamagetohealthytissue."Youcouldbringatinycrystalintothebody;placeitnexttoatumorturnontheradiationandblastthetumor"PuttermantoldMSNBC.com. 42
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.8
Text3 EuropeanfarmministershaveendedthreeweeksofnegotiationswithadealwhichtheyclaimrepresentsgenuinereformofthecommonagriculturalpolicyCAP.WillitbeenoughtokickstarttheDohaworldtradenegotiations OnthefaceofitthedealagreedintheearlyhoursofThursdayJune26thlookspromising.Mostsubsidieslinkedtospecificfarmproductsareatlasttobebroken—theideaistoreplacethesewithadirectpaymenttofarmersunconnectedtoparticularproducts.Supportpricesforseveralkeyproductsincludingmilkandbutteraretobecut—thatshouldmeanEuropeanpriceseventuallyfallingtowardstheworldmarketlevel.CuttingthelinkbetweensubsidyandproductionwasthemainobjectiveofproposalsputforwardbyMr.Fischlerwhichhadformedthestartingpointforthenegotiations. TheCAPishugelyunpopulararoundtheworldftsubsidisesEuropeanfarmerstosuchanextentthattheycanundercutfarmersfrompoorcountrieswhoalsofacetradebarriersthatlargelyexcludethemfromthepotentiallylucrativeEuropeanmarket.FarmtradeisalsoakeyfeatureoftheDoharoundoftradetalkslaunchedundertheauspicesoftheWorldTradeOrganisationWTOinNovember2001.DevelopingcountrieshavelinedupalongsideanumberofindustrialcountriestodemandanendtothemassivesubsidiesEuropepaysitsfarmers.SeveralDohadeadlineshavealreadybeenmissedbecauseoftheEU’sintransigenceandthesurvivalofthetalkswillbeatriskifnoprogressismadebySeptemberwhentheworld’stradeministersmeetinCancunMexico. ButnoweventheFrenchseemtohavegonealongwiththedealhammeredoutinLuxembourg.Uptoapointanyway.Thepackageofmeasuresgivesthegreenlightforthemosteagerreformerstomovefasttoimplementthechangeswithintheirowncountries.ButthereisanescapeclauseofsortsfortheFrenchandotherreform-aversenations.Theycandelayimplementationforuptotwoyears.Thereisalsoasuggestionthatthereformsmightnotapplywherethereisachancethattheywouldleadtoareductioninlandundercultivation. Theselet-outsarepotentiallydamagingforEurope’snegotiatorsintheDoharound.TheycouldsignificantlyreducethecostsavingsthatthereformsmightotherwisegenerateandinturnkeepEuropeanexpenditureonfarmsupportunacceptablyhighbyworldstandards.Moregenerallytheescapeclausescouldunderminethereformsbyencouragingthesuspicionthatthenewpackagewillnotdeliverthechangesthatitssupportersclaim.Closeanalysisofwhatisinevitablyaverycomplicatedpackagemightconfirmthesceptics’fears. Inwhatcasemighttheescapeclausesapplyinreform-aversenations
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.2
Text1 St.Pauldidn’tlikeit.Moseswarnedhispeopleagainstit.Hesioddeclaredit"mischievious"and"hardtogetridofit"butOscarWildersaid"Gossipischarming.’ "Historyismerelygossip"hewroteinoneofhisfamousplays."Butscandalisgossipmadetediousbymorality." IntimespastunderJewishlawgossipmongersmightbefinedorflogged.ThePuritansputtheminstocksorduckingstoolsbutnopunishmentseemedtohavethedesiredeffectofpreventinggossipwhichhascontinueduninterruptedacrossthebackfencesofthecenturies. Todayhoweverthemuch-malignedhumanfoibleisbeinglookedatinadifferentlightPsychologistssociologistsphilosophersevenevolutionarybiologistsareconcludingthatgossipmaynotbesobadafterall. Gossipis"anintrinsicallyvaluableactivity"philosophyprofessorAaronBen-Ze’evstatesinabookhehaseditedentitledGoodGossip.Foronethinggossiphelpsusacquireinformationthatweneedtoknowthatdoesn’tcomethroughordinarychannelssuchas;"Whatwastherealreasonso-and-sowasfiredfromtheoffice"GossipalsoisaformofsocialbondingDr.Ben-Ze’evsays.Itis"akindofsharing"thatalso"satisfiesthetribalneednamelytheneedtobelongtoandbeacceptedbyauniquegroup".What’smoretheprofessornotes"Gossipisenjoyable." AnothergossipgroupieDr.RonaldDeSouseaprofessorofphilosophyattheUniversityofTorontodescribesgossipbasicallyasaformofindiscretionanda"saintlyvirtue"bywhichbemeansthattheknowledgespreadbygossipwillusuallyendupbeingslightlybeneficial."Itseemslikelythataworldinwhichallinformationwereuniversallyavailablewouldbepreferabletoaworldwhereimmensepowerresidesinthecontrolofsecrets"hewrites. Stilleverybodyknowsthatgossipcanhaveitsiiieffectsespeciallyonthepoorwretchbeinggossipedabout.Andpeopleshouldrefrainfromcertainkindsofgossipthatmightbeharmfuleventhoughtheduckingstoolislongoutoffashion. BythewaythereisalsoaninterestingstrainofgossipcalledmedicalgossipwhichinitsbestformaccordingtoresearchersJerryM.SulsandFranklinGoodkincanmotivatepeoplewithsymptomsofseriousillnessbutwhoareunawareofittoseekmedicalhelp. Sogoaheadandgossip.ButrememberifasoftenisthecaseamonggossipersyoushouldsuddenlybecomeoneofthegossipeesinsteaditisbesttoemploythefoolproofdefenserecommendedbyPlatowhomayhavelearnedthelessonfromSocrateswhoasyouknowwasthevictimofgossipspreadthathewascorruptingtheyouthofAthens;Whenmenspeakilloftheesolivethatnobodywillbelievethem.OrasWillRogerssaid"Livesothatyouwouldn’tbeashamedtosellthefamilyparrottothetowngossip." Persons'remarksarementionedatthebeginningofthetextto
JackS.Kilbyanelectricalengineerwhoseinventionoftheintegratedcircuitgaverisetotheinformationageandheraldedanexplosionofconsumerelectronicsproductsinthelast50yearsfrompersonalcomputerstocellphonesdiedMondayinDallas.Hewas81. HisdeathafterabriefbattlewithcancerwasannouncedyesterdaybyTexas InstrumentstheDallas-basedelectronicscompanywhereheworkedforaquartercenturya 46TheintegratedcircuitthatMr.KilbydesignedshortlyafterarrivingatTexasInstrumentsin1958servedasthebasisformodernmicroelectronicstransformingatechnologythatpermittedthesimultaneousmanufacturingofamerehandfuloftransistors晶体管intoachipindustrythatroutinelyplacesbillionsofLilliputian微小的switchesintheareaofafingernail. Hisachievement—theintegration—yieldedathinchipofcrystalconnectingpreviouslyseparatecomponentsliketransistorsresistorsandcapacitorswithinasingledevice.ForthatcreationcommonlycalledthemicrochiphewasawardedtheNobelPrizeinPhysicsin2000. 47DuringhiscareeratTexasInstrumentsheclaimedmorethan60patentsandwasalsooneoftheinventorsofthehand-heldcalculatorandthethermalprinter.ButitwasMr.Kilby’sinventionoftheintegratedcircuitthatmostbroadlyshapedtheelectronicera. "It’shardtofindaplacewheretheintegratedcircuitdoesn’taffectyourlifetoday"RichardK.TempletonTexasInstruments’presidentandchiefexecutiveofficersaidinaninterviewyesterday."That’showbroaditsimpactis." ItisanimpactMr.Kilbysaidthatwaslargelyunexpected.48"WeexpectedtoreducethecostofelectronicsbutIdon’tthinkanybodywasthinkingintermsoffactorsofamillion"hesaidinanundatedinterviewcitedbyTexasInstruments. 49TheremarkableaccelerationofthemanufacturingprocessbasedontheintegratedcircuitwaslaterdescribedbyGordonE.Mooreco-founderoftheIntelCorporationwhosepartnerRobertN.NoyeeinventedanotherversionoftheintegratedcircuitjustmonthsafterMr.Kilby. In1965threeyearsafterthefirstcommercialintegratedcircuitscametomarketDr.Mooreobservedthatthenumberoftransistorsonacircuitwasdoublingatregularintervalsandwoulddosofarintothefuture.50TheobservationwhichcametobeknownasMoore’slawbecamethedefiningattributeofthechip-makingindustrycenteredinwhatisnowknownasSiliconValleywhereIntelwasbasedratherthaninDallas. TheobservationwhichcametobeknownasMoore’slawbecamethedefiningattributeofthechip-makingindustrycenteredinwhatisnowknownasSiliconValleywhereIntelwasbasedratherthaninDallas.
Text1 ThestudyoflawhasbeenrecognizedforcenturiesasabasicintellectualdisciplineinEuropeanuniversities.HoweveronlyinrecentyearshasitbecomeafeatureofundergraduateprogramsinEnglish-Canadianuniversities.Traditionallylegallearninghasbeenviewedinsuchinstitutionsasthespecialpreserveoflawyersratherthananecessarypartoftheintellectualequipmentofaneducatedperson.HappilytheolderandmorecontinentalviewoflegaleducationisestablishingitselfinanumberofCanadianuniversitiesandsomehaveevenbeguntoofferundergraduatedegreesinlaw. Ifthestudyoflawisbeginningtoestablishitselfaspartandparcelofageneraleducationitsaimsandmethodsshouldappealdirectlytojournalismeducators.Lawisadisciplinewhichencouragesresponsiblejudgment.Ontheonehanditprovidesopportunitiestoanalyzesuchideasasjusticedemocracyandfreedom.Ontheotheritlinkstheseconceptstoeverydayrealitiesinamannerwhichisparalleltothelinksjournalistsforgeonadailybasisastheycoverandcommentonthenews.Forexamplenotionsofevidenceandfactofbasicrightsandpublicinterestareatworkintheprocessofjournalisticjudgmentandproductionjustasincourtsoflaw.Sharpeningjudgmentbyabsorbingandreflectingonlawisadesirablecomponentofajournalist’sintellectualpreparationforhisorhercareer. Buttheideathatthejournalistmustunderstandthelawmoreprofoundlythananordinarycitizenturnsonanunderstandingoftheestablishedconventionsandspecialresponsibilitiesofthenewsmedia.Politicsormorebroadlythefunctioningofthestateisamajorsubjectforjournalists.Thebetterinformedtheyareaboutthewaythestateworksthebettertheirreportingwillbe.InfactitisdifficulttoseehowjournalistswhodonothaveacleargraspofthebasicfeaturesoftheCanadianConstitutioncandoacompetentjobonpoliticalstories. Furthermorethelegalsystemandtheeventswhichoccurwithinitareprimarysubjectsforjournalists.Whilethequalityoflegaljournalismvariesgreatlythereisanunduerelianceamongstmanyjournalistsoninterpretationssuppliedtothembylawyers.Whilecommentandreactionfromlawyersmayenhancestoriesitispreferableforjournaliststorelyontheirownnotionsofsignificanceandmaketheirownjudgments.Thesecanonlycomefromawell-groundedunderstandingofthelegalsystem. Accordingtothepassagesoundjournalisticjudgment
JackS.Kilbyanelectricalengineerwhoseinventionoftheintegratedcircuitgaverisetotheinformationageandheraldedanexplosionofconsumerelectronicsproductsinthelast50yearsfrompersonalcomputerstocellphonesdiedMondayinDallas.Hewas81. HisdeathafterabriefbattlewithcancerwasannouncedyesterdaybyTexas InstrumentstheDallas-basedelectronicscompanywhereheworkedforaquartercenturya 46TheintegratedcircuitthatMr.KilbydesignedshortlyafterarrivingatTexasInstrumentsin1958servedasthebasisformodernmicroelectronicstransformingatechnologythatpermittedthesimultaneousmanufacturingofamerehandfuloftransistors晶体管intoachipindustrythatroutinelyplacesbillionsofLilliputian微小的switchesintheareaofafingernail. Hisachievement—theintegration—yieldedathinchipofcrystalconnectingpreviouslyseparatecomponentsliketransistorsresistorsandcapacitorswithinasingledevice.ForthatcreationcommonlycalledthemicrochiphewasawardedtheNobelPrizeinPhysicsin2000. 47DuringhiscareeratTexasInstrumentsheclaimedmorethan60patentsandwasalsooneoftheinventorsofthehand-heldcalculatorandthethermalprinter.ButitwasMr.Kilby’sinventionoftheintegratedcircuitthatmostbroadlyshapedtheelectronicera. "It’shardtofindaplacewheretheintegratedcircuitdoesn’taffectyourlifetoday"RichardK.TempletonTexasInstruments’presidentandchiefexecutiveofficersaidinaninterviewyesterday."That’showbroaditsimpactis." ItisanimpactMr.Kilbysaidthatwaslargelyunexpected.48"WeexpectedtoreducethecostofelectronicsbutIdon’tthinkanybodywasthinkingintermsoffactorsofamillion"hesaidinanundatedinterviewcitedbyTexasInstruments. 49TheremarkableaccelerationofthemanufacturingprocessbasedontheintegratedcircuitwaslaterdescribedbyGordonE.Mooreco-founderoftheIntelCorporationwhosepartnerRobertN.NoyeeinventedanotherversionoftheintegratedcircuitjustmonthsafterMr.Kilby. In1965threeyearsafterthefirstcommercialintegratedcircuitscametomarketDr.Mooreobservedthatthenumberoftransistorsonacircuitwasdoublingatregularintervalsandwoulddosofarintothefuture.50TheobservationwhichcametobeknownasMoore’slawbecamethedefiningattributeofthechip-makingindustrycenteredinwhatisnowknownasSiliconValleywhereIntelwasbasedratherthaninDallas. WeexpectedtoreducethecostofelectronicsbutIdon’tthinkanybodywasthinkingintermsoffactorsofamillionhesaidinanundatedinterviewcitedbyTexasInstruments.
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.4
Scientistssaytheyhaveachievedsmall-scalenuclearfusioninatabletopexperimentusingtriedandtruetechniquesthatareexpectedtogeneratefarlesscontroversythanpastsuchclaims. Thislatestexperimentreliedonatinycrystaltogenerateastrongelectricfield.WhiletheenergycreatedwastoosmalltoharnesscheapfusionpowerthetechniquecouldhavepotentialusesinmedicinespacecraftpropulsiontheoildrillingindustryandhomelandsecuritysaidSethPuttermanaphysicistattheUniversityofCaliforniaatLosAngeles. PuttermanandhiscolleaguesatUCLABrianNaranjoandJimGimzewskireporttheirresultsinThursday’sissueofthejournalNature. 41.Helduptoridicule Previousclaimsoftabletopfusionhavebeenmetwithskepticismandevenderisionbyphysicists. 42.Soundtheoreticalbasis FusionexpertssaidtheUCLAexperimentwillfacefarlessskepticismbecauseitconformstowell-knownprinciplesofphysics. 43.Energyinwaiting Fusionpowerhasbeentoutedastheultimateenergysourceandacleaneralternativetofossilfuelslikecoalandoil.Fossilfuelsareexpectedtorunshortinabout50years. 44.Processoffusion IntheUCLAexperimentscientistsplacedatinycrystalthatcangenerateastrongelectricfieldintoavacuumchamberfilledwithdeuteriumgasaformofhydrogencapableoffusion.Thentheresearchersactivatedthecrystalbyheatingit. 45.Commercialuses UCLA’sPuttermansaidfutureexperimentswillfocusonrefiningthetechniqueforpotentialcommercialusesincludingdesigningportableneutrongeneratorsthatcouldbeusedforoilwelldrillingorscanningluggageandcargoatairports. IntheNaturereportPuttermanandhiscolleaguessaidthecrystal-basedmethodcouldbeusedin"mierothrustersforminiaturespacecraft."InsuchanapplicationthemethodwouldnotrelyonnuclearfusionforpowergenerationbutratheronionpropulsionPuttermansaid. "Aswildasitisthat’saconservativeapplication"hesaid. A.Infusionlightatomsarejoinedinahigh-temperatureprocessthatfreeslargeamountsofenergy.Itisconsideredenvironmentallyfriendlybecauseitproducesvirtuallynoairpollutionanddoesnotposethesafetyandlong-termradioactivewasteconcernsassociatedwithmodernnuclearpowerplantswhereheavyuraniumatomsaresplittocreateenergyinaprocessknownasfission. B.Theresultingelectricfieldcreatedabeamofchargeddeuteriumatomsthatstruckanearbytargetwhichwasembeddedwithyetmoredeuterium.Whensomeofthedeuteriumatomsinthebeamcollidedwiththeircounterpartsinthetargettheyfused.Thereactiongaveoffanisotopeofheliumalongwithsubatomicparticlesknownasneutronsacharacteristicoffusion.Theexperimentdidnothoweverproducemoreenergythantheamountputin—anachievementthatwouldbeahugebreakthrough. C.Anothertechniqueknownassonoluminescencegeneratesheatthroughthecollapseoftinybubblesinaliquid.Somescientistsclaimthatnuclearfusionoccursduringthereactionbutthoseclaimshavesparkedsharpdebate. D.InaNaturecommentaryMichaelSaltmarshoftheOakRidgeNationalLaboratorysaidtheprocesswasinsomeways"remarkablylow-tech’drawinguponprinciplesthatwerefirstrecordedbytheGreekphilosopherTheophrastusin314B.C.."Thisdoesn’thaveanycontroversyinitbecausethey’reusingatriedandtruemethod"DavidRuzicprofessorofnuclearandplasmaengineeringattheUniversityofIllinoisatUrbana-ChampaigntoldTheAssociatedPress."There’snomysteryintermsofthephysics." E.InoneofthemostnotablecasesDr.B.StanleyPonsoftheUniversityofUtahandMartinFleischmannofSouthamptonUniversityinEnglandshockedtheworldin1989whentheyannouncedthattheyhadachievedso-calledcoldfusionatroomtemperature.Theirworkwasdiscreditedafterrepeatedattemptstoreproduceitfailed. F.Thetechnologyalsocouldconceivablygiverisetoimplantableradiationsourceswhichcouldtargetcancercellswhileminimizingdamagetohealthytissue."Youcouldbringatinycrystalintothebody;placeitnexttoatumorturnontheradiationandblastthetumor"PuttermantoldMSNBC.com. 44
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.10
Text2 SoBig.Fwasthemorevisibleofthetworecentwavesofinfectionbecauseitpropagatediselfbye-mailmeaningthatvictimsnoticedwhatwasgoingon.SoBig.Fwassoeffectivethatitcausedsubstantialdisruptioneventothoseprotectedbyanti-virussoftware.ThatwasbecausesomanycopiesofthevirusspreadsomeS00000computerswereinfectedthatmanymachineswereoverwhelmedbymessagesfromtheirownanti-virussoftware.Ontopofthatonecommoncounter-measurebackfiredincreasingtrafficstillfurther.Anti-virussoftwareoftenbouncesawarningbacktothesenderofaninfectede-mailsayingthatthee-mailinquestioncannotbedeliveredbecauseitcontainsavirus.SoBig.Fwasabletospoofthissystemby"harvesting"e-mailaddressesfromtheharddisksofinfectedcomputers.Someoftheseaddresseswerethensentinfectede-mailsthathadbeendoctoredtolookasthoughtheyhadcomefromotherharvestedaddresses.Thelatterwerethussentwarningseventhoughtheirmachinesmaynothavebeeninfected. KevinHaleyofSymantecafirmthatmakesanti-virussoftwarethinksthatonereasonSoBig.Pwassomuchmoreeffectivethanothervirusesthatworkthiswayisbecauseitwasbetteratsearchinghard-drivesforaddresses.BrianKingofCERTaninternet-securitycentreatCarnegie-MellonUniversityinPittsburghnotesthatunlikeitsprecursorsSoBig.Fwascapableof"multi-threading’zitcouldsendmultiplee-mailssimultaneouslyallowingittodispatchthousandsinminutes.Blasterworkedbycreatinga"bufferoverrunintheremoteprocedurecall".InEnglishthatmeansitattackedapieceofsoftwareusedbyMicrosoft’sWindowsoperatingsystemtoallowonecomputertocontrolanother.Itdidsobycausingthatsoftwaretousetoomuchmemory. MostwormsworkbyexploitingweaknessesinanoperatingsystembutwhoeverwroteBlasterhadaparticularlyrefinedsenseofhumoursincethewebsiteunderattackwastheonefromwhichuserscouldobtainaprogramtofixtheveryweaknessinWindowsthatthewormitselfwasexploiting. OnewaytodealwithawickedwormlikeBlasteristodesignafairygodmotherwormthatgoesaroundrepairingvulnerablemachinesautomatically.InthecaseofBlastersomeoneseemstohavetriedexactlythatwithaprogramcalledWelchi.HoweveraccordingtoMr.HaleyWelchihascausedalmostasmanyproblemsasBlasteritselfbyoverwhelmingnetworkswith"pings"—signalsthatcheckedforthepresenceofothercomputers. Thoughbothoftheseprogramsfellshortoftheapparentobjectivesoftheirauthorstheystillcauseddamage.ForinstancetheyforcedtheshutdownofanumberofcomputernetworksincludingtheoneusedbytheNewYorkTimesnewsroomandtheoneorganisingtrainsoperatedbyCSXafreightcompanyonAmerica’seastcoast.Computerscientistsexpectthatitisonlyamatteroftimebeforeatrulydevastatingvirusisunleashed. ComparedwithSoBig.FBlasterwasavirusthatwas
Text1 St.Pauldidn’tlikeit.Moseswarnedhispeopleagainstit.Hesioddeclaredit"mischievious"and"hardtogetridofit"butOscarWildersaid"Gossipischarming.’ "Historyismerelygossip"hewroteinoneofhisfamousplays."Butscandalisgossipmadetediousbymorality." IntimespastunderJewishlawgossipmongersmightbefinedorflogged.ThePuritansputtheminstocksorduckingstoolsbutnopunishmentseemedtohavethedesiredeffectofpreventinggossipwhichhascontinueduninterruptedacrossthebackfencesofthecenturies. Todayhoweverthemuch-malignedhumanfoibleisbeinglookedatinadifferentlightPsychologistssociologistsphilosophersevenevolutionarybiologistsareconcludingthatgossipmaynotbesobadafterall. Gossipis"anintrinsicallyvaluableactivity"philosophyprofessorAaronBen-Ze’evstatesinabookhehaseditedentitledGoodGossip.Foronethinggossiphelpsusacquireinformationthatweneedtoknowthatdoesn’tcomethroughordinarychannelssuchas;"Whatwastherealreasonso-and-sowasfiredfromtheoffice"GossipalsoisaformofsocialbondingDr.Ben-Ze’evsays.Itis"akindofsharing"thatalso"satisfiesthetribalneednamelytheneedtobelongtoandbeacceptedbyauniquegroup".What’smoretheprofessornotes"Gossipisenjoyable." AnothergossipgroupieDr.RonaldDeSouseaprofessorofphilosophyattheUniversityofTorontodescribesgossipbasicallyasaformofindiscretionanda"saintlyvirtue"bywhichbemeansthattheknowledgespreadbygossipwillusuallyendupbeingslightlybeneficial."Itseemslikelythataworldinwhichallinformationwereuniversallyavailablewouldbepreferabletoaworldwhereimmensepowerresidesinthecontrolofsecrets"hewrites. Stilleverybodyknowsthatgossipcanhaveitsiiieffectsespeciallyonthepoorwretchbeinggossipedabout.Andpeopleshouldrefrainfromcertainkindsofgossipthatmightbeharmfuleventhoughtheduckingstoolislongoutoffashion. BythewaythereisalsoaninterestingstrainofgossipcalledmedicalgossipwhichinitsbestformaccordingtoresearchersJerryM.SulsandFranklinGoodkincanmotivatepeoplewithsymptomsofseriousillnessbutwhoareunawareofittoseekmedicalhelp. Sogoaheadandgossip.ButrememberifasoftenisthecaseamonggossipersyoushouldsuddenlybecomeoneofthegossipeesinsteaditisbesttoemploythefoolproofdefenserecommendedbyPlatowhomayhavelearnedthelessonfromSocrateswhoasyouknowwasthevictimofgossipspreadthathewascorruptingtheyouthofAthens;Whenmenspeakilloftheesolivethatnobodywillbelievethem.OrasWillRogerssaid"Livesothatyouwouldn’tbeashamedtosellthefamilyparrottothetowngossip." Theauthor'sattitudetowardgossipcanbebestdescribedas
Text2 SoBig.Fwasthemorevisibleofthetworecentwavesofinfectionbecauseitpropagatediselfbye-mailmeaningthatvictimsnoticedwhatwasgoingon.SoBig.Fwassoeffectivethatitcausedsubstantialdisruptioneventothoseprotectedbyanti-virussoftware.ThatwasbecausesomanycopiesofthevirusspreadsomeS00000computerswereinfectedthatmanymachineswereoverwhelmedbymessagesfromtheirownanti-virussoftware.Ontopofthatonecommoncounter-measurebackfiredincreasingtrafficstillfurther.Anti-virussoftwareoftenbouncesawarningbacktothesenderofaninfectede-mailsayingthatthee-mailinquestioncannotbedeliveredbecauseitcontainsavirus.SoBig.Fwasabletospoofthissystemby"harvesting"e-mailaddressesfromtheharddisksofinfectedcomputers.Someoftheseaddresseswerethensentinfectede-mailsthathadbeendoctoredtolookasthoughtheyhadcomefromotherharvestedaddresses.Thelatterwerethussentwarningseventhoughtheirmachinesmaynothavebeeninfected. KevinHaleyofSymantecafirmthatmakesanti-virussoftwarethinksthatonereasonSoBig.Pwassomuchmoreeffectivethanothervirusesthatworkthiswayisbecauseitwasbetteratsearchinghard-drivesforaddresses.BrianKingofCERTaninternet-securitycentreatCarnegie-MellonUniversityinPittsburghnotesthatunlikeitsprecursorsSoBig.Fwascapableof"multi-threading’zitcouldsendmultiplee-mailssimultaneouslyallowingittodispatchthousandsinminutes.Blasterworkedbycreatinga"bufferoverrunintheremoteprocedurecall".InEnglishthatmeansitattackedapieceofsoftwareusedbyMicrosoft’sWindowsoperatingsystemtoallowonecomputertocontrolanother.Itdidsobycausingthatsoftwaretousetoomuchmemory. MostwormsworkbyexploitingweaknessesinanoperatingsystembutwhoeverwroteBlasterhadaparticularlyrefinedsenseofhumoursincethewebsiteunderattackwastheonefromwhichuserscouldobtainaprogramtofixtheveryweaknessinWindowsthatthewormitselfwasexploiting. OnewaytodealwithawickedwormlikeBlasteristodesignafairygodmotherwormthatgoesaroundrepairingvulnerablemachinesautomatically.InthecaseofBlastersomeoneseemstohavetriedexactlythatwithaprogramcalledWelchi.HoweveraccordingtoMr.HaleyWelchihascausedalmostasmanyproblemsasBlasteritselfbyoverwhelmingnetworkswith"pings"—signalsthatcheckedforthepresenceofothercomputers. Thoughbothoftheseprogramsfellshortoftheapparentobjectivesoftheirauthorstheystillcauseddamage.ForinstancetheyforcedtheshutdownofanumberofcomputernetworksincludingtheoneusedbytheNewYorkTimesnewsroomandtheoneorganisingtrainsoperatedbyCSXafreightcompanyonAmerica’seastcoast.Computerscientistsexpectthatitisonlyamatteroftimebeforeatrulydevastatingvirusisunleashed. SoBig.Fdamagedcomputerprogramsmainlyby
JackS.Kilbyanelectricalengineerwhoseinventionoftheintegratedcircuitgaverisetotheinformationageandheraldedanexplosionofconsumerelectronicsproductsinthelast50yearsfrompersonalcomputerstocellphonesdiedMondayinDallas.Hewas81. HisdeathafterabriefbattlewithcancerwasannouncedyesterdaybyTexas InstrumentstheDallas-basedelectronicscompanywhereheworkedforaquartercenturya 46TheintegratedcircuitthatMr.KilbydesignedshortlyafterarrivingatTexasInstrumentsin1958servedasthebasisformodernmicroelectronicstransformingatechnologythatpermittedthesimultaneousmanufacturingofamerehandfuloftransistors晶体管intoachipindustrythatroutinelyplacesbillionsofLilliputian微小的switchesintheareaofafingernail. Hisachievement—theintegration—yieldedathinchipofcrystalconnectingpreviouslyseparatecomponentsliketransistorsresistorsandcapacitorswithinasingledevice.ForthatcreationcommonlycalledthemicrochiphewasawardedtheNobelPrizeinPhysicsin2000. 47DuringhiscareeratTexasInstrumentsheclaimedmorethan60patentsandwasalsooneoftheinventorsofthehand-heldcalculatorandthethermalprinter.ButitwasMr.Kilby’sinventionoftheintegratedcircuitthatmostbroadlyshapedtheelectronicera. "It’shardtofindaplacewheretheintegratedcircuitdoesn’taffectyourlifetoday"RichardK.TempletonTexasInstruments’presidentandchiefexecutiveofficersaidinaninterviewyesterday."That’showbroaditsimpactis." ItisanimpactMr.Kilbysaidthatwaslargelyunexpected.48"WeexpectedtoreducethecostofelectronicsbutIdon’tthinkanybodywasthinkingintermsoffactorsofamillion"hesaidinanundatedinterviewcitedbyTexasInstruments. 49TheremarkableaccelerationofthemanufacturingprocessbasedontheintegratedcircuitwaslaterdescribedbyGordonE.Mooreco-founderoftheIntelCorporationwhosepartnerRobertN.NoyeeinventedanotherversionoftheintegratedcircuitjustmonthsafterMr.Kilby. In1965threeyearsafterthefirstcommercialintegratedcircuitscametomarketDr.Mooreobservedthatthenumberoftransistorsonacircuitwasdoublingatregularintervalsandwoulddosofarintothefuture.50TheobservationwhichcametobeknownasMoore’slawbecamethedefiningattributeofthechip-makingindustrycenteredinwhatisnowknownasSiliconValleywhereIntelwasbasedratherthaninDallas. TheintegratedcircuitthatMr.KilbydesignedshortlyafterarrivingatTexasInstrumentsin1958servedasthebasisformodernmicroelectronicstransformingatechnologythatpermittedthesimultaneousmanufacturingofamerehandfuloftransistors晶体管intoachipindustrythatroutinelyplacesbillionsofLilliputian微小的switchesintheareaofafingernail.
Text4 PerhapsonlyasmallboytrainingtobeawizardattheHogwartsschoolofmagiccouldcastaspellsopowerfulastocreatethebiggestbooklaunchever.WhereverintheworldtheclockstrikesmidnightonJune20thhisfollowerswillflocktogettheirpawsononeofmorethan10millioncopiesof"HarryPotterandtheOrderofthePhoenix".Bookshopswillopeninthemiddleofthenightanddeliveryfirmsaredraftinginextrastaffandbiggertrucks.RelatedtoysgamesDVDsandothermerchandisewillbeeverywhere.TherewillbenoescapingPottermania. YetMr.Potter’sworldisacuriousoneinwhichthingsareoftennotwhattheyappear.WhileanexcitablemediaherebyincludingTheEconomisthappytosupportsuchafineexampleofglobalisationishelpingtohypethelaunchofJ.K.Rowling’sfifthnovelaboutthemostadventurousthingthatthepublishersScholasticinAmericaandBritain’sBloomsburyinEnglishelsewherehaveorganisedisareadingbyMs.RowlinginLondon’sRoyalAlbertHalltobebroadcastasalivewebcast.HollywoodwhichownseverythingelsetodowithHarryPottersaysitisdoingevenless.IncredibleasitmayseemtheguardiansofthebrandsaythattoprotectthePotterfranchisetheyaretryingtomaintainalowprofile.Wellrelativelylow. Ms.Rowlingsignedacontractin1998withWarnerBrotherspartofAOLTimeWarnergivingthestudioexclusivefilmlicensingandmerchandisingrightsinreturnforwhatnowappearstohavebeenasteal:some$500000.WarnerlicensesotherfirmstoproducegoodsusingHarryPottercharactersorimagesfromwhichMs.Rowlinggetsabigenoughcutthatsheisnowwealthierthanthequeen—ifyoubelieveBritain’sSundayTimesrichlist.Theprocessisself-generating:eachbooksetsthestageforafilmwhichboostsbooksaleswhichliftssalesofPotterproducts. GloballythefirstfourHarryPotterbookshavesoldsome200millioncopiesin55languages;thetwomovieshavegrossedover$1.8billionattheboxoffice. ThisisastunningsuccessbyanymeasureespeciallyasMs.RowlinghaslongdemandedthatHarryPottershouldmotbeover-commercialised.InlinewithherwishesWarnersaysitisbeingextraordinarilycarefulatleastbyHollywoodstandardsaboutwhatitlicensesandtowhom.ItimposedtoughconditionsonCoca-ColainsistingthatnoHarryPotterimagesshouldappearoncansandisnowintheprocessofmakingitslicensingprogrammeevenmorerestrictive.Cokemaysoonbeconsideredtoomassmarkettocarrythebrandatall. ThedealwithWarnertiesmuchofthemerchandisingtothefilmsalone.Therearenoofficiallysanctionedproductsrelatingto"OrderofthePhoenix";noryetfor"HarryPotterandthePrisonerofAzkaban"thefilmofthethirdbookwhichisdueoutinJune2004.WarneragreesthatMs.Rowling’screationisadifferentsortofcommercialpropertyonewithlong-termpotentialthatcouldbedamagedby.atypicalHollywoodmarketingblitzsaysDianeNelsonthestudio’sglobalbrandmanagerforHarryPotter.Itisvitalsheaddsthatwithmoretocomereadersofthebooksarenotalienated."theevidencefromourmarketresearchisthatenthusiasmforthepropertybyfansisnotwaning." Itcanbeconcludedfromthelastparagraphthat
Text4 PerhapsonlyasmallboytrainingtobeawizardattheHogwartsschoolofmagiccouldcastaspellsopowerfulastocreatethebiggestbooklaunchever.WhereverintheworldtheclockstrikesmidnightonJune20thhisfollowerswillflocktogettheirpawsononeofmorethan10millioncopiesof"HarryPotterandtheOrderofthePhoenix".Bookshopswillopeninthemiddleofthenightanddeliveryfirmsaredraftinginextrastaffandbiggertrucks.RelatedtoysgamesDVDsandothermerchandisewillbeeverywhere.TherewillbenoescapingPottermania. YetMr.Potter’sworldisacuriousoneinwhichthingsareoftennotwhattheyappear.WhileanexcitablemediaherebyincludingTheEconomisthappytosupportsuchafineexampleofglobalisationishelpingtohypethelaunchofJ.K.Rowling’sfifthnovelaboutthemostadventurousthingthatthepublishersScholasticinAmericaandBritain’sBloomsburyinEnglishelsewherehaveorganisedisareadingbyMs.RowlinginLondon’sRoyalAlbertHalltobebroadcastasalivewebcast.HollywoodwhichownseverythingelsetodowithHarryPottersaysitisdoingevenless.IncredibleasitmayseemtheguardiansofthebrandsaythattoprotectthePotterfranchisetheyaretryingtomaintainalowprofile.Wellrelativelylow. Ms.Rowlingsignedacontractin1998withWarnerBrotherspartofAOLTimeWarnergivingthestudioexclusivefilmlicensingandmerchandisingrightsinreturnforwhatnowappearstohavebeenasteal:some$500000.WarnerlicensesotherfirmstoproducegoodsusingHarryPottercharactersorimagesfromwhichMs.Rowlinggetsabigenoughcutthatsheisnowwealthierthanthequeen—ifyoubelieveBritain’sSundayTimesrichlist.Theprocessisself-generating:eachbooksetsthestageforafilmwhichboostsbooksaleswhichliftssalesofPotterproducts. GloballythefirstfourHarryPotterbookshavesoldsome200millioncopiesin55languages;thetwomovieshavegrossedover$1.8billionattheboxoffice. ThisisastunningsuccessbyanymeasureespeciallyasMs.RowlinghaslongdemandedthatHarryPottershouldmotbeover-commercialised.InlinewithherwishesWarnersaysitisbeingextraordinarilycarefulatleastbyHollywoodstandardsaboutwhatitlicensesandtowhom.ItimposedtoughconditionsonCoca-ColainsistingthatnoHarryPotterimagesshouldappearoncansandisnowintheprocessofmakingitslicensingprogrammeevenmorerestrictive.Cokemaysoonbeconsideredtoomassmarkettocarrythebrandatall. ThedealwithWarnertiesmuchofthemerchandisingtothefilmsalone.Therearenoofficiallysanctionedproductsrelatingto"OrderofthePhoenix";noryetfor"HarryPotterandthePrisonerofAzkaban"thefilmofthethirdbookwhichisdueoutinJune2004.WarneragreesthatMs.Rowling’screationisadifferentsortofcommercialpropertyonewithlong-termpotentialthatcouldbedamagedby.atypicalHollywoodmarketingblitzsaysDianeNelsonthestudio’sglobalbrandmanagerforHarryPotter.Itisvitalsheaddsthatwithmoretocomereadersofthebooksarenotalienated."theevidencefromourmarketresearchisthatenthusiasmforthepropertybyfansisnotwaning." WhentheauthorsaystherewillbenoescapingPottermaniaheimpliesthat
Text3 EuropeanfarmministershaveendedthreeweeksofnegotiationswithadealwhichtheyclaimrepresentsgenuinereformofthecommonagriculturalpolicyCAP.WillitbeenoughtokickstarttheDohaworldtradenegotiations OnthefaceofitthedealagreedintheearlyhoursofThursdayJune26thlookspromising.Mostsubsidieslinkedtospecificfarmproductsareatlasttobebroken—theideaistoreplacethesewithadirectpaymenttofarmersunconnectedtoparticularproducts.Supportpricesforseveralkeyproductsincludingmilkandbutteraretobecut—thatshouldmeanEuropeanpriceseventuallyfallingtowardstheworldmarketlevel.CuttingthelinkbetweensubsidyandproductionwasthemainobjectiveofproposalsputforwardbyMr.Fischlerwhichhadformedthestartingpointforthenegotiations. TheCAPishugelyunpopulararoundtheworldftsubsidisesEuropeanfarmerstosuchanextentthattheycanundercutfarmersfrompoorcountrieswhoalsofacetradebarriersthatlargelyexcludethemfromthepotentiallylucrativeEuropeanmarket.FarmtradeisalsoakeyfeatureoftheDoharoundoftradetalkslaunchedundertheauspicesoftheWorldTradeOrganisationWTOinNovember2001.DevelopingcountrieshavelinedupalongsideanumberofindustrialcountriestodemandanendtothemassivesubsidiesEuropepaysitsfarmers.SeveralDohadeadlineshavealreadybeenmissedbecauseoftheEU’sintransigenceandthesurvivalofthetalkswillbeatriskifnoprogressismadebySeptemberwhentheworld’stradeministersmeetinCancunMexico. ButnoweventheFrenchseemtohavegonealongwiththedealhammeredoutinLuxembourg.Uptoapointanyway.Thepackageofmeasuresgivesthegreenlightforthemosteagerreformerstomovefasttoimplementthechangeswithintheirowncountries.ButthereisanescapeclauseofsortsfortheFrenchandotherreform-aversenations.Theycandelayimplementationforuptotwoyears.Thereisalsoasuggestionthatthereformsmightnotapplywherethereisachancethattheywouldleadtoareductioninlandundercultivation. Theselet-outsarepotentiallydamagingforEurope’snegotiatorsintheDoharound.TheycouldsignificantlyreducethecostsavingsthatthereformsmightotherwisegenerateandinturnkeepEuropeanexpenditureonfarmsupportunacceptablyhighbyworldstandards.Moregenerallytheescapeclausescouldunderminethereformsbyencouragingthesuspicionthatthenewpackagewillnotdeliverthechangesthatitssupportersclaim.Closeanalysisofwhatisinevitablyaverycomplicatedpackagemightconfirmthesceptics’fears. Itcanbeinferredfromthethirdparagraphthat
Text2 SoBig.Fwasthemorevisibleofthetworecentwavesofinfectionbecauseitpropagatediselfbye-mailmeaningthatvictimsnoticedwhatwasgoingon.SoBig.Fwassoeffectivethatitcausedsubstantialdisruptioneventothoseprotectedbyanti-virussoftware.ThatwasbecausesomanycopiesofthevirusspreadsomeS00000computerswereinfectedthatmanymachineswereoverwhelmedbymessagesfromtheirownanti-virussoftware.Ontopofthatonecommoncounter-measurebackfiredincreasingtrafficstillfurther.Anti-virussoftwareoftenbouncesawarningbacktothesenderofaninfectede-mailsayingthatthee-mailinquestioncannotbedeliveredbecauseitcontainsavirus.SoBig.Fwasabletospoofthissystemby"harvesting"e-mailaddressesfromtheharddisksofinfectedcomputers.Someoftheseaddresseswerethensentinfectede-mailsthathadbeendoctoredtolookasthoughtheyhadcomefromotherharvestedaddresses.Thelatterwerethussentwarningseventhoughtheirmachinesmaynothavebeeninfected. KevinHaleyofSymantecafirmthatmakesanti-virussoftwarethinksthatonereasonSoBig.Pwassomuchmoreeffectivethanothervirusesthatworkthiswayisbecauseitwasbetteratsearchinghard-drivesforaddresses.BrianKingofCERTaninternet-securitycentreatCarnegie-MellonUniversityinPittsburghnotesthatunlikeitsprecursorsSoBig.Fwascapableof"multi-threading’zitcouldsendmultiplee-mailssimultaneouslyallowingittodispatchthousandsinminutes.Blasterworkedbycreatinga"bufferoverrunintheremoteprocedurecall".InEnglishthatmeansitattackedapieceofsoftwareusedbyMicrosoft’sWindowsoperatingsystemtoallowonecomputertocontrolanother.Itdidsobycausingthatsoftwaretousetoomuchmemory. MostwormsworkbyexploitingweaknessesinanoperatingsystembutwhoeverwroteBlasterhadaparticularlyrefinedsenseofhumoursincethewebsiteunderattackwastheonefromwhichuserscouldobtainaprogramtofixtheveryweaknessinWindowsthatthewormitselfwasexploiting. OnewaytodealwithawickedwormlikeBlasteristodesignafairygodmotherwormthatgoesaroundrepairingvulnerablemachinesautomatically.InthecaseofBlastersomeoneseemstohavetriedexactlythatwithaprogramcalledWelchi.HoweveraccordingtoMr.HaleyWelchihascausedalmostasmanyproblemsasBlasteritselfbyoverwhelmingnetworkswith"pings"—signalsthatcheckedforthepresenceofothercomputers. Thoughbothoftheseprogramsfellshortoftheapparentobjectivesoftheirauthorstheystillcauseddamage.ForinstancetheyforcedtheshutdownofanumberofcomputernetworksincludingtheoneusedbytheNewYorkTimesnewsroomandtheoneorganisingtrainsoperatedbyCSXafreightcompanyonAmerica’seastcoast.Computerscientistsexpectthatitisonlyamatteroftimebeforeatrulydevastatingvirusisunleashed. FromthetextwelearnthatWelchi
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.12
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.16
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.14
Plasticisthepanaceaoftheages.Nearlyeveryman-madeobject12oforatleast3itsverystructuretothiswondercompound.Rainslickerscomputerterminalsautomobileenginepartscoffeecupsandthesugarstirrerstoobreastimplantstoysoldiers—theyareallmadeupofplasticoroneofitsmany4Sincethe5ofcivilizationhumankindbasbeenexperimenting6amultifunctionalmaterial—onethathadtobeequallystrongandlightweight—tocarrycontainandprotectvaluables.7itcouldcarrycontainand Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCandDonANSWERSHEET1.10points18
Plasticisthepanaceaoftheages.Nearlyeveryman-madeobject12oforatleast3itsverystructuretothiswondercompound.Rainslickerscomputerterminalsautomobileenginepartscoffeecupsandthesugarstirrerstoobreastimplantstoysoldiers—theyareallmadeupofplasticoroneofitsmany4Sincethe5ofcivilizationhumankindbasbeenexperimenting6amultifunctionalmaterial—onethathadtobeequallystrongandlightweight—tocarrycontainandprotectvaluables.7itcouldcarrycontainand Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCandDonANSWERSHEET1.10points16
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.6
InOctober2002GoldmanSachsandDeutscheBank1anewelectronicmarketwww.gs.com/econderivsforeconomicindicesthat2substantialeconomicriskssuchasnonfarmpayrollameasureofjobavailabilityandretailsales.Thisnewmarketwasmadepossiblebya3tradingtechnologydevelopedbyLongitudeaNewYorkcompanyprovidingsoftwareforfinancialmarkets4theParimutuelDigitalCallAuction.Thisis"digital"5ofadigitaloptionieitpaysoutonlyifanunderlyingindexliesinanarrowdiscreterange.IneffectLongitudehascreatedahorseracewhereeach"horse"winsifand6thespecifiedindexfallsinaspecifiedrange.Bycreatinghorsesforeverypossible7oftheindexandallowingpeopletobet8anynumberofrunnersthecompanyhasproducedaliquidintegratedelectronicmarketforawidearrayofoptionsoneconomicindices. Tenyearsagoitwas9impossibletomakeuseofelectronicinformationabouthomevalues.Nowmortgagelendershaveonlineautomatedvaluationmodelsthatallowthemtoestimatevaluesandto10theriskintheirportfolios.Thishasledtoaproliferationoftypesofhomeloansomeof11haveimprovedrisk-managementcharacteristics. Wearealsobeginningtoseenewkindsof12forhomeswhichwillmakeitpossibletoprotectthevalueof13formostpeopleisthesinglemostimportant14oftheirwealth.TheYaleUniversity-NeighbourhoodReinvestmentCorporationprogramme15lastyearinthecityofSyracuseinNewYorkStatemaybeamodelforhome-equityinsurancepoliciesthat16sophisticatedeconomicindicesofhousepricestodefinethe17ofthepolicy.ElectronicfuturesmarketsthatarebasedoneconometricindicesofhousepricesbycityalreadybegunbyCityIndexandIGIndexinBritainandnow18developedintheUnitedStateswillenablehome-equityinsurerstohedgetherisksthattheyacquirebywritingthesepolicies. Theseexamplesarenotimpressivesuccessesyet.Butthey19asearlyprecursorsofatechnologythatshouldonedayhelpustodealwiththemassiverisksofinequalitythat20willbesetusincomingyears. Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCorDonANSWERSHEET1.18
Text4 PerhapsonlyasmallboytrainingtobeawizardattheHogwartsschoolofmagiccouldcastaspellsopowerfulastocreatethebiggestbooklaunchever.WhereverintheworldtheclockstrikesmidnightonJune20thhisfollowerswillflocktogettheirpawsononeofmorethan10millioncopiesof"HarryPotterandtheOrderofthePhoenix".Bookshopswillopeninthemiddleofthenightanddeliveryfirmsaredraftinginextrastaffandbiggertrucks.RelatedtoysgamesDVDsandothermerchandisewillbeeverywhere.TherewillbenoescapingPottermania. YetMr.Potter’sworldisacuriousoneinwhichthingsareoftennotwhattheyappear.WhileanexcitablemediaherebyincludingTheEconomisthappytosupportsuchafineexampleofglobalisationishelpingtohypethelaunchofJ.K.Rowling’sfifthnovelaboutthemostadventurousthingthatthepublishersScholasticinAmericaandBritain’sBloomsburyinEnglishelsewherehaveorganisedisareadingbyMs.RowlinginLondon’sRoyalAlbertHalltobebroadcastasalivewebcast.HollywoodwhichownseverythingelsetodowithHarryPottersaysitisdoingevenless.IncredibleasitmayseemtheguardiansofthebrandsaythattoprotectthePotterfranchisetheyaretryingtomaintainalowprofile.Wellrelativelylow. Ms.Rowlingsignedacontractin1998withWarnerBrotherspartofAOLTimeWarnergivingthestudioexclusivefilmlicensingandmerchandisingrightsinreturnforwhatnowappearstohavebeenasteal:some$500000.WarnerlicensesotherfirmstoproducegoodsusingHarryPottercharactersorimagesfromwhichMs.Rowlinggetsabigenoughcutthatsheisnowwealthierthanthequeen—ifyoubelieveBritain’sSundayTimesrichlist.Theprocessisself-generating:eachbooksetsthestageforafilmwhichboostsbooksaleswhichliftssalesofPotterproducts. GloballythefirstfourHarryPotterbookshavesoldsome200millioncopiesin55languages;thetwomovieshavegrossedover$1.8billionattheboxoffice. ThisisastunningsuccessbyanymeasureespeciallyasMs.RowlinghaslongdemandedthatHarryPottershouldmotbeover-commercialised.InlinewithherwishesWarnersaysitisbeingextraordinarilycarefulatleastbyHollywoodstandardsaboutwhatitlicensesandtowhom.ItimposedtoughconditionsonCoca-ColainsistingthatnoHarryPotterimagesshouldappearoncansandisnowintheprocessofmakingitslicensingprogrammeevenmorerestrictive.Cokemaysoonbeconsideredtoomassmarkettocarrythebrandatall. ThedealwithWarnertiesmuchofthemerchandisingtothefilmsalone.Therearenoofficiallysanctionedproductsrelatingto"OrderofthePhoenix";noryetfor"HarryPotterandthePrisonerofAzkaban"thefilmofthethirdbookwhichisdueoutinJune2004.WarneragreesthatMs.Rowling’screationisadifferentsortofcommercialpropertyonewithlong-termpotentialthatcouldbedamagedby.atypicalHollywoodmarketingblitzsaysDianeNelsonthestudio’sglobalbrandmanagerforHarryPotter.Itisvitalsheaddsthatwithmoretocomereadersofthebooksarenotalienated."theevidencefromourmarketresearchisthatenthusiasmforthepropertybyfansisnotwaning." Ms.Rowling'sreadinginLondon'sRoyalAlbertHallismentionedtoshow
Plasticisthepanaceaoftheages.Nearlyeveryman-madeobject12oforatleast3itsverystructuretothiswondercompound.Rainslickerscomputerterminalsautomobileenginepartscoffeecupsandthesugarstirrerstoobreastimplantstoysoldiers—theyareallmadeupofplasticoroneofitsmany4Sincethe5ofcivilizationhumankindbasbeenexperimenting6amultifunctionalmaterial—onethathadtobeequallystrongandlightweight—tocarrycontainandprotectvaluables.7itcouldcarrycontainand Readtilefollowingtext.ChoosethebestwordsforeachnumberedblankandmarkABCandDonANSWERSHEET1.10points20
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