Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions.
"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 have 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 makes 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 American’s motivation to put something aside today for the tools to buy tomorrow.
The great bulk of the accumulated wealth of America, as distinguished from what 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 as 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.
According to the passage, capital includes all of the following EXCEPT ______.
A.factories
B.tractors
C.money
D.workers

Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions.
"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 have 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 makes 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 American’s motivation to put something aside today for the tools to buy tomorrow.
The great bulk of the accumulated wealth of America, as distinguished from what 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 as 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.
According to the passage, which of the following would lead to accumulating capital?
A.Training workers who produce goods.
B.Studying the culture history of the country
C.Consuming what is produced
D.Planting more of a crop than what is needed

Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions.
"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 have 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 makes 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 American’s motivation to put something aside today for the tools to buy tomorrow.
The great bulk of the accumulated wealth of America, as distinguished from what 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 as 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.
The phrase "paved the way" in the second paragraph is closest in meaning to
A.paid for
B.supported
C.accumulated
D.resembled

Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions.
"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 have 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 makes 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 American’s motivation to put something aside today for the tools to buy tomorrow.
The great bulk of the accumulated wealth of America, as distinguished from what 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 as 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.
It can be inferred from the passage that the European ancestors of early Americans
A.sent many tools to America
B.taught their skills to their offspring
C.were accustomed to saving
D.were good farmers

Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions.
"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 have 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 makes 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 American’s motivation to put something aside today for the tools to buy tomorrow.
The great bulk of the accumulated wealth of America, as distinguished from what 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 as 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.
With what subject is this passage mainly concerned?
A.Geography
B.Finance
C.Economics
D.Culture

Mark the letter A, B, C, or D on your answer sheet to indicate the word or phrase that is OPPOSITE in meaning to the underlined part in each of the following questions
The chairman initiated the proceedings with a brief speech.
A.confused
B.closed
C.started
D.complicated

Mark the letter A, B, C, or D on your answer sheet to indicate the word that differs from the rest in the pronunciation of the underlined part in each of the following questions
A.each
B.achieve
C.chemistry
D.choice

Mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions
He’ll be very upset if you _________ his offer of help.
A.turn from
B.turn down
C.turn away
D.turn against

Mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions
_______ education is normally taken to include undergraduate and postgraduate education, as well as vocational education and training.
A.Secondary
B.Primary
C.Intermediate
D.Tertiary

Mark the letter A, B, C, or D on your answer sheet to indicate the correct answer to each of the following questions
My husband and I both go out to work so we share the _______.
A.household chores
B.responsibility
C.happiness
D.employment