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ReadingComprehension
PartA
2004Texti
Huntingforajoblatelastyear,lawyerGantRedmonstumbledacrossCareerBuilder,ajobdatabaseonthe
Internet.Hesearcheditwithnosuccessbutwasattractedbythesite's"personalsearchagent”.It'saninteractive
featurethatletsvisitorskeyinjobcriteriasuchaslocation,title,andsalary,thenE-mailsthemwhenamatching
positionispostedinthedatabase.Redmonchosethekeywordslegal,intellectualproperty,andWashington,D.C.
Threeweekslater,hegothisfirstnotificationofanopening.struckgold,“saysRedmon,whoE-mailedhis
resumetotheemployerandwonapositionasin-housecounselforacompany.
Withthousandsofcareer-relatedsitesontheInternet,findingpromisingopeningscanbetime-consumingand
inefficient.Searchagentsreducetheneedforrepeatedvisitstothedatabases.Butalthoughasearchagentworked
forRedmon,careerexpertsseedrawbacks.Narrowingyourcriteria,forexample,mayworkagainstyou:"Every
timeyouansweraquestionyoueliminateapossibility,“saysoneexpert.
Foranyjobsearch,youshouldstartwithanarrowconcept—whatyouthinkyouwanttodo—thenbroadenit.
“Noneoftheseprogramsdothat,“saysanotherexpert.t€There,snocareercounselingimplicitinallofthis.”
Instead,thebeststrategyistousetheagentasakindoftipservicetokeepabreastofjobsinaparticulardatabase;
whenyougetE-mail,consideritaremindertocheckthedatabaseagain.wouldnotrelyonagentsforfinding
everythingthatisaddedtoadatabasethatmightinterestme,,,saystheauthorofajob-searchingguide.
Somesitesdesigntheiragentstotemptjobhunterstoreturn.WhenCareerSite,sagentsendsoutmessagesto
thosewhohavesignedupforitsservice,forexample,itincludesonlythreepotentialjobs—thoseitconsidersthe
bestmatches.Theremaybemorematchesinthedatabase;jobhunterswillhavetovisitthesiteagaintofind
them-andtheydo."Onthedayafterwesendourmessages,weseeasharpincreaseinourtraffic,saysSeth
Peets,vicepresidentofmarketingforCareerSite.
Eventhosewhoaren,thuntingforjobsmayfindsearchagentsworthwhile.Someusethemtokeepaclose
watchonthedemandfortheirlineofworkorgatherinformationoncompensationtoarmthemselveswhen
negotiatingforaraise.Althoughhappilyemployed,RedmonmaintainshisagentatCareerBuilder.4tYoualways
keepyoureyesopen,^^hesays.Workingwithapersonalsearchagentmeanshavinganothersetofeyeslookingout
foryou.
41.HowdidRedmonfindhisjob?
[A]Bysearchingopeningsinajobdatabase.
[B]Bypostingamatchingpositioninadatabase.
[C]Byusingaspecialserviceofadatabase.
[DJByE-mailinghisresumetoadatabase.
41.Whichofthefollowingcanbeadisadvantageofsearchagents?
[A]Lackofcounseling.
[B]Limitednumberofvisits.
[C]Lowerefficiency.
fD]Fewersuccessfulmatches.
43.Theexpression“tipservice^^(Line4,Paragraph3)mostprobablymeans
[A]advisory.
[B]compensation.
[C]interaction.
[D]reminder.
44.WhydoesCareerSite'sagentoffereachjobhunteronlythreejoboptions?
[AJTofocusonbetterjobmatches.
[B]Toattractmorereturningvisits.
[C]Toreservespaceformoremessages.
[DJToincreasetherateofsuccess.
45.Whichofthefollowingistrueaccordingtothetext?
[A]Personalsearchagentsareindispensabletojob-hunters.
[BJSomesiteskeepE-mailingjobseekerstotracetheirdemands.
[C]Personalsearchagentsarealsohelpfultothosealreadyemployed.
[D]Someagentsstopsendinginformationtopeopleoncetheyareemployed.
2004Text2
Overthepastcentury,allkindsofunfairnessanddiscriminationhavebeencondemnedormadeillegal.But
oneinsidiousformcontinuestothrive:alphabetism.This,forthoseasyetunawareofsuchadisadvantage,refers
todiscriminationagainstthosewhosesurnamesbeginwithaletterinthelowerhalfofthealphabet.
IthaslongbeenknownthatataxifirmcalledAAAAcarshasabigadvantageoverZodiaccarswhen
customersthumbthroughtheirphonedirectories.LesswellknownistheadvantagethatAdamAbbotthasinlife
overZoeZysman.Englishnamesarefairlyevenlyspreadbetweenthehalvesofthealphabet.Yetasuspiciously
largenumberoftoppeoplehavesurnamesbeginningwithlettersbetweenAandK.
ThustheAmericanpresidentandvice-presidenthavesurnamesstartingwithBandCrespectively;and26of
GeorgeBush'spredecessors(includinghisfather)hadsurnamesinthefirsthalfofthealphabetagainstjust16in
thesecondhalf.Evenmorestriking,sixofthesevenheadsofgovernmentoftheG7richcountriesare
alphabeticallyadvantaged(Berlusconi,Blair,Bush,Chirac,ChretienandKoizumi).Theworld'sthreetopcentral
bankers(Greenspan,DuisenbergandHayami)areallclosetothetopofthealphabet,evenifoneofthemreally
usesJapanesecharacters.Asaretheworld'sfiverichestmen(Gates,Buffett,Allen,EllisonandAlbrecht).
Canthismerelybecoincidence?Onetheory,dreamtupinallthesparetimeenjoyedbythealphabetically
disadvantaged,isthattherotsetsinearly.Atthestartofthefirstyearininfantschool,teachersseatpupils
alphabeticallyfromthefront,tomakeiteasiertoremembertheirnames.Soshort-sightedZysmanjuniorgets
stuckinthebackrow,andisrarelyaskedtheimprovingquestionsposedbythoseinsensitiveteachers.Atthetime
thealphabeticallydisadvantagedmaythinktheyhavehadaluckyescape.Yettheresultmaybeworse
qualifications,becausetheygetlessindividualattention,aswellaslessconfidenceinspeakingpublicly.
Thehumiliationcontinues.Atuniversitygraduationceremonies,theABCsproudlygettheirawardsfirst;by
thetimetheyreachtheZysmansmostpeopleareliterallyhavingaZZZ.Shortlistsforjobinterviews,election
ballotpapers,listsofconferencespeakersandattendees:alltendtobedrawnupalphabetically,andtheir
recipientsloseinterestastheyploughthroughthem.
46.WhatdoestheauthorintendtoillustratewithAAAAcarsandZodiaccars?
[A]Akindofoverlookedinequality.
[B]Atypeofconspicuousbias.
[C]Atypeofpersonalprejudice.
fD]Akindofbranddiscrimination.
47.Whatcanweinferfromthefirstthreeparagraphs?
[A]InbothEastandWest,namesareessentialtosuccess.
[B]ThealphabetistoblameforthefailureofZoeZysman.
[C]Customersoftenpayalotofattentiontocompanies'names.
[DJSomeformofdiscriminationistoosubtletorecognize.
48.The4thparagraphsuggeststhat
[A]questionsareoftenputtothemoreintelligentstudents.
[B]alphabeticallydisadvantagedstudentsoftenescapefromclass.
[C]teachersshouldpayattentiontoalloftheirstudents.
[D]studentsshouldbeseatedaccordingtotheireyesight.
49.Whatdoestheauthormeanby“mostpeopleareliterallyhavingaZZZ”(Lines2-3,Paragraph5)?
[A]Theyaregettingimpatient.
[BJTheyarenoisilydozingoff.
[C]Theyarefeelinghumiliated.
[D]Theyarebusywithwordpuzzles.
5O.Whichofthefollowingistrueaccordingtothetext?
[A]PeoplewithsurnamesbeginningwithNtoZareoftenill-treated.
fB]VIPsintheWesternworldgainagreatdealfromalphabetism.
[C|Thecampaigntoeliminatealphabetismstillhasalongwaytogo.
[D]Puttingthingsalphabeticallymayleadtounintentionalbias.
2004Text3
Whenitcomestotheslowingeconomy,EllenSperoisn'tbitinghernailsjustyet.Butthe47-year-old
manicuristisn'tcutting,filingorpolishingasmanynailsasshe'dliketo,either.Mostofherclientsspend$12to
$50weekly,butlastmonthtwolongtimecustomerssuddenlystoppedshowingup.Speroblamesthesoftening
economy.agoodeconomicindicator,shesays."Iprovideaservicethatpeoplecandowithoutwhenthey're
concernedaboutsavingsomedollars.^^SoSperoisdownscaling,shoppingatmiddle-browDillard'sdepartment
storenearhersuburbanClevelandhome,insteadofNeimanMarcus.4tIdon'tknowifotherclientsaregoingto
abandonme,too,"shesays.
EvenbeforeAlanGreenspan'sadmissionthatAmerica'sred-hoteconomyiscooling,lotsofworkingfolks
hadalreadyseensignsoftheslowdownthemselves.FromcardealershipstoGapoutlets,saleshavebeenlagging
formonthsasshopperstempertheirspending.Forretailers,wholastyeartookin24percentoftheirrevenue
betweenThanksgivingandChristmas,thecautiousapproachiscomingatacrucialtime.Already,expertssay,
holidaysalesareoff7percentfromlastyear'space.Butdon'tsoundanyalarmsjustyet.Consumersseemonly
mildlyconcerned,notpanicked,andmanysaytheyremainoptimisticabouttheeconomy'slong-termprospects
evenastheydosomemodestbelt-tightening.
Consumerssaythey'renotindespairbecause,despitethedreadfulheadlines,theirownfortunesstillfeel
prettygood.Homepricesareholdingsteadyinmostregions.InManhattan,“there'sanewgoldrushhappeningin
the$4millionto$10millionrange,predominantlyfedbyWallStreetbonuses,saysbrokerBarbaraCorcoran.In
SanFrancisco,pricesarestillrisingevenasfrenziedoverbiddingquiets."Insteadof20to30offers,nowmaybe
youonlygettwoorthree,“saysJohnTealdi,aBayAreareal-estatebroker.Andmostfolksstillfeelpretty
comfortableabouttheirabilitytofindandkeepajob.
Manyfolksseesilverliningstothisslowdown.Potentialhomebuyerswouldcheerforlowerinterestrates.
Employerswouldn'tmindalittlefewerbubblesinthejobmarket.Manyconsumersseemtohavebeeninfluenced
bystock-marketswings,whichinvestorsnowviewasanecessaryingredienttoasustainedboom.Dinersmight
seeanupside,tooGettingatableatManhattan'shotnewAlainDucasserestaurantusedtobeimpossible.Not
anymore.Forthat,Greenspan&Co.maystillbeworthtoasting.
51.By“EllenSperoisn'tbitinghernailsjustyet”(Line1,Paragraph1).Theauthormeans
[A]Sperocanhardlymaintainherbusiness.
[B]Speroistoomuchengagedinherwork.
[C]Sperohasgrownoutofherbadhabit.
[D]Speroisnotinadesperatesituation.
52.Howdothepublicfeelaboutthecurrenteconomicsituation?
[A]Optimistic.[B]Confused.
[C]Carefree.[D]Panicked.
53.Whenmentioning"the$4millionto$10millionrange"(Lines3-4,Paragraph3),theauthoristalkingabout
[A]goldmarket.[B]realestate.
[C]stockexchange.[D]ventureinvestment.
54.Whycanmanypeoplesee"silverlinings“totheeconomicslowdown?
[A]Theywouldbenefitincertainways.
[B|Thestockmarketshowssignsofrecovery.
[C]Suchaslowdownusuallyprecedesaboom.
[D]Thepurchasingpowerwouldbeenhanced.
55.Towhichofthefollowingistheauthorlikelytoagree?
[AJAnewboom,onthehorizon.
[B]Tightenthebelt,thesingleremedy.
[C]Cautionallright,panicnot.
[D]Themoreventures,themorechances.
2004Text4
Americanstodaydon'tplaceaveryhighvalueonintellect.Ourheroesareathletes,entertainers,and
enterpreneurs,notscholars.Evenourschoolsarewherewesendourchildrentogetapracticaleducation-notto
pursueknowledgeforthesakeofknowledge.Symptomsofpervasiveanti-intellectualisminourschoolsaren't
difficulttofind.
“Schoolshavealwaysbeeninasocietywherepracticalismoreimportantthanintellectual,sayseducation
writerDianeRavitch."Schoolscouldbeacounterbalance.^Ravitch'slatestbook,LeftBack:ACenturyof
FailedSchoolReforms,tracestherootsofanti-intellectualisminourschools,concludingtheyareanythingbuta
counterbalancetotheAmericandistasteforintellectualpursuits.
Buttheycouldandshouldbe.Encouragingkidstorejectthelifeofthemindleavesthemvulnerableto
exploitationandcontrol.Withouttheabilitytothinkcritically,todefendtheirideasofothers,theycannotfully
participateinourdemocracy.Continuingalongthispath,sayswriterEarlShorris,.”Wewillbecomeasecond-rate
country.Wewillhavealesscivilsociety.^^
''Intellectisresentedasaformofpowerorprivilege,writeshistorianandprofessorRichardHofstadterin
Anti-IntellectualistninAmericanLife,aPulitzer-prizewinningbookontherootsofanti-intellectualisminUS
politics,religion,andeducation.Formthebeginningofourhistory,saysHofstadter,ourdemocraticandpopulist
urgeshavedrivenustorejectanythingthatsmellsofelitism.Practicality,commonsense,andnativeintelligence
havebeenconsideredmorenoblequalitiesthananythingyoucouldlearnformabook.
RalphWaldoEmersonandotherTranscendentalistphilosophersthoughtschoolingandrigorousbook
learningputunnaturalrestraintsonchildren:"Weareshutupinschoolandcollegerecitationroomsfor10or15
yearsandcomeoutatlastwithabellyfulofwordanddonotknowathing."MarkTwain'sHuckleberryFinn
exemplifiedAmericananti-intellectualism.Itsheroavoidsbeingcivilized-goingtoschoolandlearningtoread
-sohecanpreservehisinnategoodness.
Intellect,accordingtoHofstadter,isdifferentfromnativeintelligence,aqualitywereluctantlyadmire.
Intellectisthecritical,creative,andcontemplativesideofthemind.Intelligenceseekstograsp,manipulate,
re-order,andadjust,whileintellectexamines,ponders,wonder,theorizes,criticizes,andimagines.
Schoolremainsaplacewhereintellectismistrusted.Hofstadtersaysourcountry'seducationalsystemisin
thegripsofpeoplewho"JoyfullyandmilitantlyproclaimtheirhostilitytointellectandtheireagernesstoIdentify
withchildrenwhoshowtheleastintellectualpromise.”
56.WhatdoAmericanparentsexpecttheirchildrentoacquireinschool?
[A]Thehabitofthinkingindependently
[B]Profoundknowledgeoftheworld
[ClPracticalabilitiesforfuturecareer
[D]Theconfidenceinintellectualpursuits
57.WecanlearnformthetextthatAmericanshaveahistoryof.
[A]undervaluingintellect
[B]favoringintellectualism
[C]supportingschoolreform
[D]suppressingnativeintelligence
58.TheviewsofRavitchandEmersononschoolingare
[A]identical|B]similar
[C]complementary[DJopposite
59.Emerson,accordingtothetext,isprobably
[A]apioneerofeducationreform
[BJanopponentofintellectualism
[C]ascholarinfavorofintellect
[D]anadvocateofregularschooling
60.Whatdoestheauthorthinkofintellect?
[A]Itissecondtointelligence
fB]Itevolvesfromcommonsense
[C]Itistobepursued
[D]Itunderliespower
2003Text1
WildBillDonovanwouldhavelovedtheInternet.TheAmericanspymasterwhobuilttheOfficeof
StrategicServicesintheWorldWar11andlaterlaidtherootsfortheCIAwasfascinatedwith
information.Donovanbelievedinusingwhatevertoolscametohandinthe"greatgame"ofespionage
一spyingasa"profession".ThesedaystheNet,whichhasalreadyre-madepastimesasbuyingbooks
andsendingmail,isreshapingDonovan'svocationaswell.
Thelastrevolutionisn'tsimplyamatterofgentlemenreadingothergentlemen'se-mail.Thatkind
ofelectronicspyinghasbeengoingonfordecades.Inthepastthreeorfouryears,theworldwideweb
hasgivenbirthtoawholeindustryofpoint-and-clickspying.Thespookscallit"opensource
intelligence,MandastheNetgrows,itisbecomingincreasinglyinfluential.In1995theCIAhelda
contesttoseewhocouldcompilethemostdataaboutBurundi.Thewinner,byalargemargin,wasa
tinyVirginiacompanycalledOpen-SourceSolutions,whoseclearadvantagewasitsmasteryofthe
electronicworld.
AmongthefirmsmakingthebiggestsplashinthenewworldisStraitford,Inc.,aprivate
intelligence-analysisfirmbasedinAustin,Texas.Straitfordmakesmoneybysellingtheresultsofspying
(coveringnationsfromChiletoRussia)tocorporationslikeenergy-servicesfirmMcDermottInternational.
Manyofitspredictionsareavailableonlineat.
StraifordpresidentGeorgeFriedmansaysheseestheonlineworldasakindofmutually
reinforcingtoolforbothinformationcollectionanddistribution,aspymaster'sdream.Lastweekhis
firmwasbusyvacuumingupdatabitsfromthefarcornersoftheworldandpredictingacrisisinUkraine.
"Assoonasthatreportruns,we'llsuddenlyget500newinternetsign-upsfromUkraine,"saysFriedman,
aformerpoliticalscienceprofessor."Andwe'llhearbackfromsomeofthem,"Open-sourcespyingdoes
haveitsrisks,ofcourse,sinceitcanbedifficulttotellgoodinformationfrombad.That'swhereStraitford
earnsitskeep.
FriedmanreliesonaleanstaffinAustin.Severalofhisstaffmembershavemilitary-intelligence
backgrounds.Heseesthefirm'soutsiderstatusasthekeytoitssuccess.Straitford'sbriefsdon'tsound
liketheusualWashingtonback-and-forthing,wherebyagenciesavoiddramaticdeclarationsonthe
chancetheymightbewrong.Straitford,saysFriedman,takesprideinitsindependentvoice.
41.TheemergenceoftheNethas_______.
[A]receivedsupportfromfanslikeDonovan
[B]remoldedtheintelligenceservices
[C]restoredmanycommonpastimes
[D]revivedspyingasaprofession
42.Donovan'sstoryismentionedinthetextto.
[A]introducethetopicofonlinespying
[B]showhowhefoughtfortheUS
[C]giveanepisodeoftheinformationwar
[D]honorhisuniqueservicestotheCIA
43.Thephrase"makingthebiggestsplash"(line1,paragraph3)mostprobablymeans.
[A]causingthebiggesttrouble
[B]exertingthegreatesteffort
[C]achievingthegreatestsuccess
[D]enjoyingthewidestpopularity
44.Itcanbelearnedfromparagraph4that.
[A]Straitford'spredictionaboutUkrainehasprovedtrue
[B]Straitfordguaranteesthetruthfulnessofitsinformation
[C]Straitford'sbusinessischaracterizedbyunpredictability
[D]Straitfordisabletoprovidefairlyreliableinformation
45.Straitfordismostproudofits.
[A]officialstatus.
[B]nonconformistimage.
[C]efficientstaff.
[D]militarybackground.
2003Text2
Toparaphrase18th-centurystatesmanEdmundBurke,"allthatisneededforthetriumphofa
misguidedcauseisthatgoodpeopledonothing."Onesuchcausenowseekstoendbiomedicalresearch
becauseofthetheorythatanimalshaverightsrulingouttheiruseinresearch.Scientistsneedto
respondforcefullytoanimalrightsadvocates,whoseargumentsareconfusingthepublicandthereby
threateningadvancesinhealthknowledgeandcare.Leadersoftheanimalrightsmovementtarget
biomedicalresearchbecauseitdependsonpublicfunding,andfewpeopleunderstandtheprocessof
healthcareresearch.Hearingallegationsofcrueltytoanimalsinresearchsettings,manyareperplexed
thatanyonewoulddeliberatelyharmananimal.
Forexample,agrandmotherlywomanstaffingananimalrightsboothatarecentstreetfairwas
distributingabrochurethatencouragedreadersnottouseanythingthatcomesfromoristestedin
animals—nomeat,nofur,nomedicines.Askedifsheopposedimmunizations,shewantedtoknowif
vaccinescomefromanimalresearch.Whenassuredthattheydo,shereplied,"ThenIwouldhavetosay
yes.*'Askedwhatwillhappenwhenepidemicsreturn,shesaid,"Don'tworry,scientistswillfindsome
wayofusingcomputers."Suchwell-meaningpeoplejustdon'tunderstand.
Scientistsmustcommunicatetheirmessagetothepublicinacompassionate,understandableway—
inhumanterms,notinthelanguageofmolecularbiology.Weneedtomakecleartheconnection
betweenanimalresearchandagrandmother'shipreplacement,afather'sbypassoperation,ababy's
vaccinations,andevenapet'sshots.Tothosewhoareunawarethatanimalresearchwasneededto
producethesetreatments,aswellasnewtreatmentsandvaccines,animalresearchseemswastefulat
bestandcruelatworst.
Muchcanbedone.Scientistscould"adopt"middleschoolclassesandpresenttheirownresearch.
Theyshouldbequicktorespondtoletterstotheeditor,lestanimalrightsmisinformationgo
unchallengedandacquireadeceptiveappearanceoftruth.Researchinstitutionscouldbeopenedto
tours,toshowthatlaboratoryanimalsreceivehumanecare.Finally,becausetheultimatestakeholders
arepatients,thehealthresearchcommunityshouldactivelyrecruittoitscausenotonlywell-known
personalitiessuchasStephenCooper,whohasmadecourageousstatementsaboutthevalueofanimal
research,butallwhoreceivemedicaltreatment.Ifgoodpeopledonothingthereisarealpossibilitythat
anuninformedcitizenrywillextinguishthepreciousembersofmedicalprogress.
46.TheauthorbeginshisarticlewithEdmundBurke'swordsto_______.
[A]callonscientiststotakesomeactions
[B]criticizethemisguidedcauseofanimalrights
[C]warnofthedoomofbiomedicalresearch
[D]showthetriumphoftheanimalrightsmovement
47.Misledpeopletendtothinkthatusingananimalinresearchis.
[A]cruelbutnatural
[B]inhumanandunacceptable
[C]inevitablebutvicious
[D]pointlessandwasteful
48.Theexampleofthegrandmotherlywomanisusedtoshowthepublic's.
[A]discontentwithanimalresearch
[B]ignoranceaboutmedicalscience
[C]indifferencetoepidemics
[D]anxietyaboutanimalrights
49.Theauthorbelievesthat,infaceofthechallengefromanimalrightsadvocates,scientistsshould
[A]communicatemorewiththepublic
[B]employhi-techmeansinresearch
[C]feelnoshamefortheircause
[D]strivetodevelopnewcures
50.FromthetextwelearnthatStephenCooperis.
[A]awell-knownhumanist
[B]amedicalpractitioner
[C]anenthusiastinanimalrights
[D]asupporterofanimalresearch
2003Text3
Inrecentyears,railroadshavebeencombiningwitheachother,mergingintosupersystems,
causingheightenedconcernsaboutmonopoly.Asrecentlyas1995,thetopfourrailroadsaccountedfor
under70percentofthetotalton-milesmovedbyrails.Nextyear,afteraseriesofmergersiscompleted,
justfourrailroadswillcontrolwellover90percentofallthefreightmovedbymajorrailcarriers.
Supportersofthenewsupersystemsarguethatthesemergerswillallowforsubstantialcost
reductionsandbettercoordinatedservice.Anythreatofmonopoly,theyargue,isremovedbyfierce
competitionfromtrucks.Butmanyshipperscomplainthatforheavybulkcommoditiestravelinglong
distances,suchascoal,chemicals,andgrain,truckingistoocostlyandtherailroadsthereforehavethem
bythethroat.
Thevastconsolidationwithintherailindustrymeansthatmostshippersareservedbyonlyonerail
company.Railroadstypicallychargesuch"captive11shippers20to30percentmorethantheydowhen
anotherrailroadiscompetingforthebusiness.Shipperswhofeeltheyarebeingoverchargedhavethe
righttoappealtothefederalgovernment'sSurfaceTransportationBoardforraterelief,buttheprocessis
expensive,timeconsuming,andwillworkonlyintrulyextremecases.
Railroadsjustifyratediscriminationagainstcaptiveshippersonthegroundsthatinthelongrunit
reduceseveryone'scost.Ifrailroadschargedallcustomersthesameaveragerate,theyargue,shippers
whohavetheoptionofswitchingtotrucksorotherformsoftransportationwoulddoso,leaving
remainingcustomerstoshoulderthecostofkeepinguptheline.It'stheorytowhichmanyeconomists
subscribe,butinpracticeitoftenleavesrailroadsinthepositionofdeterminingwhichcompanieswill
flourishandwhichwillfail."Dowereallywantrailroadstobethearbitersofwhowinsandwholosesin
themarketplace?"asksMartinBercovici,aWashingtonlawyerwhofrequentlyrepresentsshipper.
Manycaptiveshippersalsoworrytheywillsoonbehiswitharoundofhugerateincreases.The
railroadindustryasawhole,despiteitsbrighteningfortunes,stilldoesnotearnenoughtocoverthecost
ofthecapitalitmustinvesttokeepupwithitssurgingtraffic.Yetrailroadscontinuetoborrowbillionsto
acquireoneanother,withWallStreetcheeringthemon.Considerthe$10.2billionbidbyNorfolk
SouthernandCSXtoacquireConrailthisyear.Conrail'snetrailwayoperatingincomein1996wasjust
$427million,lessthanhalfofthecarryingcostsofthetransaction.Who'sgoingtopayfortherestofthe
bill?Manycaptiveshippersfearthattheywill,asNorfolkSouthernandCSXincreasetheirgriponthe
market.
51.Accordingtothosewhosupportmergersrailwaymonopolyisunlikelybecause.
[A]costreductionisbasedoncompetition
[B]servicescallforcross-tradecoordination
[C]outsidecompetitorswillcontinuetoexist
[D]shipperswillhavetherailwaybythethroat
52.Whatismanycaptiveshippers'attitudetowardstheconsolidationintherailindustry?
[A]Indifferent.
[B]Supportive.
[C]Indignant.
[D]Apprehensive.
53.Itcanbeinferredfromparagraph3that.
[A]shipperswillbechargedlesswithoutarivalrailroad
[B]therewillsoonbeonlyonerailroadcompanynationwide
[C]overchargedshippersareunlikelytoappealforraterelief
[D]agovernmentboardensuresfairplayinrailwaybusiness
54.Theword"arbiters'*(line7,paragraph4)mostprobablyreferstothose.
[A]whoworkascoordinators
[B]whofunctionasjudges
[C]whosupervisetransactions
[D]whodeterminetheprice
55.Accordingtothetext,thecostincreaseintherailindustryismainlycausedby.
[A]thecontinuingacquisition
[B]thegrowingtraffic
[C]theche
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