According to some analyst, the gains in the stock mrkt reflect growing confidence that the economy will avoid the recession that many had feared earlier in the year and instead come in for a 'short landing', followed by a gradual increase in business activity.
I think both past tense and past perfect are correct. The other choices in that question had othe problems.
Past perfect tense can be used because the sentence is referring to a specific time in the past. If the time isn't specified, then you need present perfect. For example:
She has written an article on animal rights. (We don't know when this happened.) She had written an article on animal rights in 1987.
According to some analyst, the gains in the stock mrkt reflect growing confidence that the economy will avoid the recession that many had feared earlier in the year and instead come in for a 'short landing', followed by a gradual increase in business activity.
这里为什么要用had feared?
Since the action had finished earlier in the year, ...???