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标题: GWD 18－36 [打印本页]
作者: puccamummy    时间: 2005-11-15 19:02
标题: GWD 18－36

Q35 to Q37:


      To compete effectively in interna-


       tional markets, a nation’s businesses


       must sustain investment in intangible as


Line       well as physical assets.  Although an


  (5)      enormous pool of investment capital


exists in the United States, the country’s


capital investment practices put United


States companies at a competitive


disadvantage.


(10)            United States capital investment


practices, shaped by sporadic and


unpredictable changes in tax policy and


high federal budget deficits, encourage


both underinvestment and overinvest-


(15)      ment.  For example, United States


companies invest at a low rate in inter-


nal development projects, such as


improving supplier relations, that do not


offer immediate profit, and systemati-


(20)      cally invest at a high rate in external


       projects, such as corporate takeovers,


       that yield immediate profit.  Also,


United States companies make too


few linkages among different forms of


(25)      investments.  Such linkages are impor-


tant because physical assets, such as


factories, may not reach their potential


level of productivity unless companies


make parallel investments in intangible


(30)      assets such as employee training and


product redesign.  In general, unlike


Japanese and German investment


       practices, which focus on companies’


long-term interests, United States


(35)    investment practices favor those


forms of investment for which finan-


cial returns are most readily available.


By making minimal investments in


      intangible assets, United States com-


(40)     panies reduce their chances for future


competitiveness.



Q36:      


According to the passage, which of the following characterizes the capital allocation strategy of United States companies?


              



  • They tend to underinvest in intangible assets.

  • They tend to invest heavily in product redesign.

  • They tend to underinvest in physical assets.

  • They make parallel investments in internal and external projects.

  • They seek to allocate capital in ways that reduce their tax burden

    • 答案是A，可是我觉得是D。


    请大家看一看。

    作者: iuuxx    时间: 2005-11-16 11:49

    line38   By making minimal investments in


          intangible assets,


    LACE>说明United States companies tend to underinvest in intangible assets.  A正确。情指教

    LACE>



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