Before the 1960’s, Singapore was essentially a trading nation. Since (1)     , it has developed a more (2)     economy and has become an important financial, trade, and transportation center. Singapore has many banks, (3)     firms, and finance companies, as (4)         as a stock exchange. Tourism is also important to the economy of Singapore.

There is little unemployment in Singapore. The country’s annual income per capita (per person) is one of the highest in Asia.

The government of Singapore plays a major role in the country’s economy. For example, it decides what benefits, such as vacation time and sick leave, must be provided for workers by employers. It also operates  an  employment  agency  to  help  people  find  jobs,  and  it   provides  (5)     for retired workers.

Read the following passage and mark the letter A, B, C or D on your answer sheet to indicate the correct word or phrase that best fits each of the numbered blanks

(1) ..................

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