单选题
With U.S. companies sitting on an estimated $1.8 trillion in cash, it raises the question: Why aren't they deploying more of their hoard to expand their businesses? Or one might channel John Maynard Keynes to ask: Where have the "animal spirits" gone? Although capital spending in the U.S. is up 12 percent since the lows of early 2009, it's still running $88 billion below the peak of $1.34 trillion reached in the first quarter of 2008, says Joseph LaVorgna, chief U.S. economist at Deutsche Bank. He doesn't expect capital spending to catch up to that peak level and officially start to expand until the second quarter of 2011. (LaVorgna's definition of capital spending includes physical equipment and software, but not structures such as new stores or manufacturing plants. Spending on structures is about 2 percent of gross domestic product, one-third the size of capital sending's contribution to GDP, he says.) "The trend and momentum have definitely turned and it's just a matter of time before you see other companies give way to capital spending, and eventually that will result in hiring," says LaVorgna. But with spending running $88 billion below peak, he says employment "should be farther along than it is." Companies that have built up a lot of cash are starting to take some chances such as expanding into new markets, which requires hiring new workers, says John Challenger, chief executive officer of Challenger, Gray & Christmas, an employment consulting firm. U.S. companies have announced the hiring of 118,209 new employees through August, according to data collected by the firm. So who's stepping up to the plate? Some companies refuse to be cowed and are taking big, if calculated, chances, including ambitious capital projects, hiring new workers, and expanded investment in research and development, according to growth-oriented mutual fund managers contacted by Businessweek.com. If there's a common denominator, it's a perceived opportunity and confidence in sustainable demand, whether due to new trends in technology or to new markets that need certain products. Other names came from a list of the top-hiring U.S. companies through July 2010 compiled by Challenger, Gray & Christmas. "We don't spend capital unless we have a new contract to supply oxygen, nitrogen, or hydrogen to our customers," says James Sawyer, Praxair's chief financial officer. "Those are 15-year contracts with minimal take-or-pay clauses written into them, which ensure we will get a good return on our capital investment, regardless of how the rest of the economy is doing." Some younger outfits with entrepreneurial managers who have lived through a few business cycles think their companies may be able to steal a march on competitors more reluctant to spend, says Aram Green, manager of Clear Bridge Advisors Small Cap Growth Fund. "There's clearly been a decision by management that 'This is not the time to take our foot off the accelerator. In fact, it's time to push harder and further distance our product from the competition.'/
单选题
We can learn from the first paragraph that______. [A] U.S. capital spending will reach $1.34 trillion in the second quarter of 2011 [B] U.S. companies are reluctant to invest due to the product surplus in the market [C] Keynes restricted the "animal spirits" of U.S. companies [D] U.S. companies have not used their capital effectively
【正确答案】
D
【答案解析】[试题类型] 具体信息题。 [解题思路] 根据题干关键词the first paragraph定位至第一段。该段首句提到美国企业拥有大量的闲置资金，因此人们质疑，为什么他们不充分利用资金来扩大业务(Why aren't they deploying more of their hoard to expand their businesses).选项[D]“美国公司没有有效地利用它们的资金”是原文的同义表达，故正确。 [干扰排除] 由第一段第四句可知，直到2011年第二季度，资本投资才会正式开始扩张(officially start to expand until the second quarter of 2011)，而不是到那时资本投资会回到最高值，故排除选项[A]。第一段指出，许多公司拥有大量的闲置资金，却不用于扩大业务，但该段并没有提到其中的原因，故排除选项[B]。第一段提到，许多人对于企业有大量资金却不用于投资提出质疑，并希望凯恩斯问问这些企业为什么失去了干劲，并不是凯恩斯限制了企业的干劲，故排除选项[C]。
单选题
John Challenger suggests that______. [A] all companies are thinking of expanding capital spending [B] employment will lead to the increase of capital spending [C] some companies are ready to hire new workers for the new market [D] capital spending will put companies in a dangerous situation
【正确答案】
C
【答案解析】[试题类型] 推理引申题。 [解题思路] 根据题干关键词John Challenger定位至第二段第三句。该句John Challenger指出，许多有一定资金积累的企业已经开始冒险投资，比如拓展新的市场，这就需要雇用新员工。由此可见，这些有资金积累的公司已经为开拓新市场做好了雇用员工的准备，因此选项[C]最符合文意。 [干扰排除] 文中提到开始冒险投资的是一些有一定资金积累的公司(companies that have built up a lot of cash)，而非所有公司(all companies)，选项[A]的说法过于绝对，排除。John Challenger认为，公司由于开始资本投资、拓展市场，由此需要雇用新员工，选项[B]颠倒了因果关系，排除。John Challenger只提到资本投资会使企业雇用新员工，而没有提到资本投资会导致企业陷入危险处境，故排除选项[D]。
单选题
The phrase "stepping up to the plate" (Line 1, Paragraph 3) most probably means______. [A] breaking the rules [B] waiting for a chance [C] taking actions [D] making complaints
【正确答案】
C
【答案解析】[试题类型] 语意理解题。 [解题思路] 根据题干关键词stepping up to the plate定位至第一段首句。由句首的so可知，这句话与上段关系密切，分析第二段可知，该段主要讲了资本投资的势头已经改变，许多企业都已转向投资，并引用了Challenger, Gray & Christmas公司的首席执行官约翰·查林杰的话，以及该公司的统计数据支持以上观点。而第三段首句这一问句后作者的回答也是说一些公司不想退缩，并准备冒很大的风险，包括雄心勃勃的资金投入项目，雇用新员工等(are taking big...chances, including...)。由此可见，who's stepping up to the plate即作者在问哪些公司在进行风险投资。step up to the plate意为“采收行动”，是对“进行风险投资”含义的抽象概括，选项[C]最符合原文的语意逻辑，为本题的答案。 [干扰排除] 由以上分析可知，选项[A]“打破规则”，选项[B]“等待时机”，选项[D]“抱怨”都不符合文意，故排除。
单选题
By citing the words of Aram Green, the author intends to show that______. [A] younger managers prefer to have natural development of a company [B] capital investment leads to an edge of a company over its competitors [C] companies do not want to fall behind their competitors [D] management wants to have new contracts more than they did before
【正确答案】
B
【答案解析】[试题类型] 推理引申题。 [解题思路] 根据题干关键词Aram Green定位至第五段。文中提到在Aram Green看来，年轻的企业希望以领先一步，超过那些不愿意投资的竞争对手(steal a march on competitors more reluctant to spend)，并且现在应该加大投资力度，使产品远超竞争对手。由此可见，作者引用Aram Green的话是要说明资本投资可以使公司具备压倒对手的竞争优势，故正确选项为[B]。 [干扰排除] 文中只提到了年轻的企业(younger outfits)及企业家经理人(entrepreneurial managers)而没有提到更加年轻的经理人(younger managers)，并且，这些经理人希望通过资金投资来超越竞争对手，而不是倾向于企业的自然发展，故排除选项[A]。任何企业都不想落后于其他公司，这是常识，但不是作者引用Aram Green的话想要说明的问题，故排除选项[C]。第四段提到了签订新合同(have a new contract)，是某些公司在进行资本投资时规避风险的一种做法。文中第五段提到管理层(management)希望加大投资力度使产品远超竞争对手，但没有提到他们希望签署更多的合同，并且，这也不是作者引用Aram Green的话想要说明的问题，故排除选项[D]。
单选题
Which of the following could best summarize the passage? [A] Capital spending will result in hiring. [B] New stores or manufacturing plants come up. [C] How can companies benefit from capital spending. [D] Companies give way to capital spending.