THE HEINEMANN TOEFL COURSE PRACTICE TEST 1 READING PART 4 (Questions 32-40)

THE HEINEMANN TOEFL COURSE

PRACTICE TEST 1

READING

PART 4 (Questions 32-40)

"The economic history of the United States", one scholar has written, "is the history of the rise and development of the capitalistic system." The colonists of the eighteenth century pushed forward what those of the seventeenth century had begun: the expansion and elaboration of an economy born in the great age of capitalist expansion. Our excellent natural resources paved the way for the development of abundant capital to increase our growth. Capital includes the tools-such as machines, vehicles, and buildings-that make the outputs of labor and resources more valuable. But it also includes the funds necessary to buy those tools. If a society had to consume everything it produced just to stay alive, nothing could be put aside to increase future productions. But if a farmer can grow more corn than his family needs to eat, he can use the surplus as seed to increase the next crop, or to feed workers who build tractors. This process of capital accumulation was aided in the American economy by our cultural heritage. Saving played an important role in the European tradition; it contributed to Americans' motivation to put something aside today for the tools to buy tomorrow. The great bulk of the accumulated wealth of America, as distinguished from that which was consumed, was derived either directly or indirectly from trade. Though some manufacturing existed, its role in the accumulation of capital was negligible. A merchant class of opulent proportions was already visible in the seaboard cities, its wealth the obvious consequence of shrewd and resourceful management of the carrying trade. Even the rich planters of tidewater Virginia and the rice coast of South Carolina finally depended for their genteel way of life upon the ships and merchants who sold their tobacco and rice in the markets of Europe. As colonial production rose and trade expanded, a business community emerged in the colonies, linking the provinces by lines of trade and identity of interest. 32 With what subject is this passage mainly concerned? A Geography Finance Economics Culture B C D 33 The phrase "paved the way for" in line 6 is closest in  meaning to A paid for  supported accumulated resembled B C D 34 In line 9 the word "it" refers to A growth resources labor  capital B C D 35 According to the passage, capital includes all of the following EXCEPT A factories tractors    money     workers B C D 36 In line 9, the word "funds" is closest in meaning to  A money     resources     output      support B C D 37 The phrase "put aside" in lines 10-11 is closest in meaning to A hidden saved reviewed consumed B C D 38 According to the passage, which of the following would lead to accumulating capital? A Training workers who produce goods Studying the cultural history of the country Consuming what is produced Planting more of a crop than is needed B C D 39 It can be inferred from the passage that the European ancestors of early Americans A sent many tools to America taught their skills to their offspring were accustomed to saving were good farmers B C D 40 According to the passage, the emergence of a business community in the colonies was a result of A efficient saving the immigration of wealthy bankers the success of production and trade the existence of manufacturing B C D

ANSWER KEY

32. C  The correct answer is (C) because the passage discusses the issues of economics, not finance, geography, or culture. Key terms are economic history, capitalist expansion, natural resources, capital, capital accumulation, and trade. 33. B   The meaning of the phrase "paved the way for" can be deduced by deciding in what way the key terms in the sentence are related: natural resources, the development of abundant capital, to increase our growth. The rest of the paragraph indicates that capital and growth developed positively because of natural resources; therefore, the correct answer is (B) supported. 34. D   The pronoun "it" in line 9 refers to Capital in line 7, which is the topic of the sentence and which is followed by an explanation of what capital includes. The use of the word also and the repetition of the verb includes after "it" in line 9 are  other clues that capital is the referent. 35. D   The correct answer (D) is found in lines 7-8, where capital is described... such as machines, vehicles, and buildings....  (A) is a building, (B) is a vehicle. (C) is found in line 9 which states But it also includes the funds, where it is capital. The only choice not mentioned is (D) workers, which is correct. 36. A   The meaning of the word "funds" in line 9 can be deduced by knowing that part of what capital includes is tools, which are listed in lines 7 and 8 as machines, vehicles, and buildings. In addition, capital includes "funds" (line 9), which are different from tools. Answer choice (A) money is the correct meaning of funds. 37. В    In the context of this passage, the phrase put aside is related to an economic concept. In this context, answer choice (B) saved is correct. 38. D   The correct answer is found in line 13 This process of capital accumulation.... where this process refers to the preceding lines 11-12 But if a farmer can grow more corn than his family needs to eat, he can use the surplus asseed to increase the next crop. (A), (B), and (C) do not result in accumulating capital. 39. C    The correct answer (C) is found in lines 14—15 Saving played an important role in the European tradition. Something that people are accustomed to plays an important role. (A), (B) and (D) are not mentioned in the passage as things that the European ancestors of early Americans did. 40. C   The correct answer (C) is found in the last paragraph. The first line states, The great bulk of the accumulated wealth of America... was derived either directly or indirectly from trade. The last line states, As colonial production rose and trade expanded, a business community emerged in the colonies, linking the provinces by lines of trade and identity of interest. Answer (A) is not mentioned in the passage as a cause of the emergence of a business class; answers (C) and (D) are not discussed in the passage.