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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。 | 
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发表于 2005-11-15 19:02:00
