Exchange-rate fluctuations inevitably cause problems, but for many years, most firms could take protective action to minimize their unfavorable effects. Floating exchange rates of the world ernational Bu Corporation, for example, reported that exchange losses resulted in a dramatic 21.6 percent drop in their earnings in the third quarter of 1981(12), devaluations of major currencies were infrequent and usually could be anticipated, but exchange-rate fluctuations in the float system are daily affairs A. After serious consideration B. commercial, political and foreign exchange risks C. Asian Financial crisis is another example D. Corporation can take some measure to avoid financial risks E. However, is competition F. Any other disagreement over which payment is withheld G. To be especially aware of exchange-rate fluctuation and the need to compensate for them in their financial planning H. So mark must be prepared to assume them or give up doing business in a particular market 1. Before rates were permitted to float Part Three Question 13-20 Read this text about Air transportation, and answer questions 13-20 that follow. Airplanes are used to carry passengers, cargo and mail. Air transport companies operate scheduled airlines and non-scheduled services over local. regional. national. and international outes. The aircraft operated by these companies range from small single- engine planes to large multiengine jet transports 1. The first air passenger services began in 1910, when dirigibles began operation between several German cities. The first scheduled airplane service to carry passengers began in the U.S. IN 1914. Several experimental airmail flights took place in India, Europe, and the United States before World War I, but air transport services did not become a true business until after the war 2. During World War Two, intercontinental air transport became firmly established. After the war the new long-distance transports with advanced facilities were increasingly able to avoid storms and strong wind and make flights more economical and consistent. A new generation of " jumbo-jet "transports began operation in 1970, and the supersonic transport entered passenger service in 1976 3. During the 1970s the number of domestic passengers on U.S. airlines about 78%, and during the 1980s the figure was up about 58%. In 1990 there were 41.8 million international passengers, the figure was a 75%increase over 1980.The total cargo flown byExchange-rate fluctuations inevitably cause problems, but for many years, most firms could take protective action to minimize their unfavorable effects. Floating exchange rates of the world’ major currencies have forced all marketers (11) _____ international Business Machine Corporation, for example, reported that exchange losses resulted in a dramatic 21.6 percent drop in their earnings in the third quarter of 1981 (12) _____, devaluations of major currencies were infrequent and usually could be anticipated, but exchange-rate fluctuations in the float system are daily affairs. A. After serious consideration B. commercial, political and foreign exchange risks. C. Asian Financial crisis is another example D. Corporation can take some measure to avoid financial risks. E. However, is competition F. Any other disagreement over which payment is withheld G. To be especially aware of exchange-rate fluctuation and the need to compensate for them in their financial planning H. So mark must be prepared to assume them or give up doing business in a particular market I. Before rates were permitted to float Part Three Question 13 - 20  Read this text about Air transportation, and answer questions 13—20 that follow. Airplanes are used to carry passengers, cargo and mail. Air transport companies operate scheduled airlines and non-scheduled services over local, regional, national, and international routes. The aircraft operated by these companies range from small single- engine planes to large multiengine jet transports. 1. The first air passenger services began in 1910, when dirigibles began operation between several German cities. The first scheduled airplane service to carry passengers began in the U.S.IN 1914. Several experimental airmail flights took place in India, Europe, and the United States before World War I, but air transport services did not become a true business until after the war. 2. During World War Two, intercontinental air transport became firmly established. After the war the new long-distance transports with advanced facilities were increasingly able to avoid storms and strong wind and make flights more economical and consistent. A new generation of “jumbo-jet” transports began operation in 1970,and the supersonic transport entered passenger service in 1976. 3. During the 1970s the number of domestic passengers on U.S. airlines about 78%, and during the 1980s the figure was up about 58%. In 1990 there were 41.8 million international passengers; the figure was a 75%increase over 1980.The total cargo flown by