【正文】 not produced such plans.B. In surveys of entrepreneurs who have attempted without success to raise sufficient capital, more than half of the respondents indicate that they have produced a formal business plan.C. Among the entrepreneurs surveyed, those who did not produce formal business plans sought and received a much larger proportion of their capital from investors with whom they had a longstanding business relationship.D. The entrepreneurs surveyed who did not produce a formal business plan spent nearly as much time doing preparatory research and planning as the entrepreneurs who produced plans.E. The entrepreneurs who produced business plans generally reported later that the process of writing the plan had increased their confidence that their pany would succeed.  GWD18Q35Q37 To pete effectively in international markets, a nation’s businesses must sustain investment in intangible as well as physical assets. Although an enormous pool of investment capital exists in the United States, the country’s capital investment practices put United States panies at a petitive disadvantage. United States capital investment practices, shaped by sporadic and unpredictable changes in tax policy and high federal budget deficits, encourage both underinvestment and overinvestment. For example, United States panies invest at a low rate in internal development projects, such as improving supplier relations, that do not offer immediate profit, and systematically invest at a high rate in external projects, such as corporate takeovers, that yield immediate profit. Also, United States panies make too few linkages among different forms of investments. Such linkages are important because physical assets, such as factories, may not reach their potential level of productivity unless panies make parallel investments in intangible assets such as employee training and product redesign. In general, unlike Japanese and German investment practices, which focus on panies’ longterm interests, United States investment practices favor those forms of investment for which financial returns are most readily available. By making minimal investments in intangible assets, United States panies reduce their chances for future petitiveness.23. GWD18Q35:The passage is primarily concerned with A. evaluating strategies for improving United States petitiveness in international marketsB. illustrating the possible uses of investment capitalC. analyzing some failings of capital investment practices in the United StatesD. suggesting reasons for increasing linkages among different types of investmentsE. contrasting the benefits of investment in physical assets with the benefits of investment in intangible assets 24. GWD18Q36: According to the passage, which of the following characterizes the capital allocation strategy of United States panies? A. They tend to underinvest in intangible assets.B. They tend to invest heavily in product redesign.C. They tend to underinvest in physical assets.D. They make parallel investments in internal and external projects.E. They seek to allocate capital in ways that reduce their tax burden.25. GWD18Q37:Which of the following best describes the purpose of the second paragraph? A. To propose a solution to the problem introduced in the first paragraphB. To provide support for an argument presented in the first paragraphC. To provide data to refute an assertion made in the first paragraphD. To discuss the sources of investment capital mentioned in the first paragraphE. To discuss the petitiveness of international markets alluded to in the first paragraph26. GWD18Q29The contractor and the engineer agree on the cause of the bridge failure, but both blame the other.A. both blame the otherB. each blames the otherC. each blame the other personD. both are blaming the otherE. each blames one another27. GWD21Q27:The electronics pany has unveiled what it claims to be the world’s smallest network digital camcorder, the length of which is that of a handheld puter, and it weighs less than 11 ounces.A. to be the world’s smallest network digital camcorder, the length of which is that of a handheld puter, and it weighsB. to be the smallest network digital camcorder in the world, which is as long as a handheld puter, weighingC. is the smallest network digital camcorder in the world, which is as long as a handheld puter, and it weighsD. is the world’s smallest network digital camcorder, which is as long as a handheld puter and weighsE. is the world’s smallest network digital camcorder, the length of which is that of a handheld puter, weighing28. GWD21Q28:Since it has bee known that several of a bank’s top executives have been buying shares in their own bank, the bank’s depositors, who had been worried by rumors that the bank faced impending financial collapse, have been greatly relieved. They reason that since top executives evidently have faith in the bank’s financial soundness, those worrisome rumors must be false. They might well be overoptimistic, however since corporate executives have sometimes bought shares in their own pany in a calculated attempt to dispel negative rumors about the pany’s health.In the argument given, the two boldfaced