66. The Federal Reserve Board’s reduction of interest rates on loans to financial institutions is both an acknowledgement of past economic trends and an effort to influence their future direction.
(A) reduction of interest rates on loans to financial institutions is both an acknowledgement of past economic trends and an effort
(B) reduction of interest rates on loans to financial institutions is an acknowledgement both of past economic trends as well as an effort
(C) reduction of interest rates on loans to financial institutions both acknowledge past economic trends and attempt
(D) reducing interest rates on loans to financial institutions is an acknowledgement both of past economic trends and an effort
(E) reducing interest rates on loans to financial institutions both acknowledge past economic trends as well as attempt
Choice A is best. In B, both must come before acknowledgment if it is to link acknowledgment and effort; as misplaced here, it creates the unfulfilled expectation that the reduction of interest rates will be an acknowledgment of two different things. Moreover, both... as well as... is redundant: the correct idiom is both x and y. In C, the plural verbs acknowledge and attempt do not agree with their singular subject, reduction; also, it is imprecise to characterize a reduction as performing actions such as acknowledging or attempting. In both D and E, the use of the participle reducing rather than the noun reduction is awkward. Like B, D misplaces both, while E repeats both the redundancy of B and the agreement error of C.
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