Passage Two
American has long been considered the land of opportunity by those from other countries. Americans, too, believe that the United States provides almost limifiess opportunity for those who want to open businesses on their own.
Today, Americans are still fond of trying their hand at becoming small business people, even though only one out of two survives the first two years. Many of these people start their businesses for the wrong reasons: to get away from the paper work of their present jobs or to exchange the responsibility of their present jobs for freer life styles. But more, not less, paper work and responsibility come with ownership of a small business. John Shuttleworth, owner of the recently successful life-ecology news magazine Mother Earth, reports having had to work sixty hours straight in order to bring out the first issue.
John Shuttleworth waited years after conceiving the idea for Mother Earth before he attempted to put out
A. borrowed money
B. waited for a good time to open his business
C. developed an inadequate plan
D. studied, prepared a plan, and trained himself
Text 3
Never has a straitjacket seemed so ill-fitting or so insecure. The Euro area’s "stability and growth pact" was supposed to stop irresponsible member states running excessive budget deficits, defined as 3% of GDP or more. Chief among the restraints was the threat of large fines if member governments breached the limit for three years in a row. For some time now, no one has seriously believed those restraints would hold. In the early hours of Tuesday November 25th, the Euro’s fiscal straitjacket finally came apart at the seams.
The pact’s fate was sealed over an extended dinner meeting of the euro area’s 12 finance ministers. They chewed over the sorry fiscal record of the Euro’s two largest members, France and Germany. Both governments ran deficits of more than 3% of GDP last year and will do so again this year. Both expect to breach the limit for the third time in 2004. Earlier this year the European Commission
A. sudden alarms.
B. substantial might.
C. extra efforts.
D. sheer reluctance.
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