A. It has a broadly based tax structure an important point.
B. In 1992 it produced more oil than Colorado and Kansas combined.
C. However, the extractive mineral industry in New Mexico is one of the state's strongest economic forces.
D. During fiscal year 1992 New Mexico raised permanent funds worth about $6.1 billion.
E. The combined value of oil and gas production was $ 2. 8 billion.
F. Some 16, 000 employees work in the extractive industries and their wages are among the highest of any major industry.
G. The $39 million earned by these funds in 1991 was used to finance education and other public services.
H. Only S 25 million came from agricultural taxes.
I. New Mexico's extractive mineral industries contribute about a third of the state's $ 1. 9 billion general-fund income in fiscal year 1991.
PART THREE
Questions 13-20
. Read this letter about Compensation Trade ,and answer the following questions.
Ministry of Foreign Trade 19th January , 1 993
Xi Changan Street
Beijing , China
Dear Sirs,
This letter is in regard to the window glass business between our firm and the China National Light industrial Products Import & Export Corporation, Daren Branch and the Daren Window Glass Factory.
1. Our two sides sincerely worked in the past and the window glass business has already been done successfully. However, the quantity of products doesn't meet our requirements. This company wants to develop the trade and business further in this line. We now expect to begin working with all the other branches and window glass factories on the same basis ,i. e. compensation trade.
2. For the U. S. A. market, we require very large quantities of small cut sizes. Therefore, we are asking your prompt assistance to help us out in expanding glass-cutting business. We would highly appreciate it if you take this matter into consideration. We are certain that ,with your prompt cooperation, our purchases of Chinese window glass for sale in the U. S. A. market will very quickly increase to a large and substantial volume. With the establishment of diplomatic relations between our two countries ,the time is now right for a very quick and large increase in trade between us.
3. For your information, we are doing everything possible to cooperate in achieving our mutual goal of making the window glass business a very large one. We have offered to purchase various equipment for your Dairen factory which will increase its products, improve quality and raise its efficiency. We have offered to accept payment for this machinery in the form of buy-back of glass. We have also cooperated with the factory in making suggestions for better efficient packing and containerization. The factory has been very cooperative and receptive to our ideas. As we want to begin our business with the other branches too ,we plan to offer the same suggestions and proposals to purchase machinery for them.
4. From this letter, you can see that we are very sincere in our desire for a long-term relationship between our two countries and our firm and the various branches of the China National Light industrial Products Import and Export Corporation, Window Glass Departments .
During our next visit to China, we will discuss the appointment of our firm as the exclusive agent for Chinese Window Glass in the U. S. A. market. Since we have discussed this question in the past ,we expect that the official appointment of our firm as the exclusive agent will be made during our next trip.
Thank you for your prompt attention to the above. Best regards.
Sincerely yours ,
Norman Goldstein
Associates , INC
Questions 13-16
. For questions 13-16 ,choose the correct title for each paragraph from the box below.
. For each paragraph(1-4) mark one letter (A-G) on your Answer Sheet.
. Do not mark any letter twice.
13. Paragraph 1.......... .
14. Paragraph 2..........
15. Paragraph 3. .........
16. Paragraph 4..... . . .. .
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