Navigasi
Soal 107 / 140
TOEFL-ITP
▼
TOEFL ITP Preparation - Paket 10 107 / 140
TOEFL-ITP
🔒 Anda sedang melihat pratinjau soal
Login untuk ikuti tryout lengkap dengan timer, simpan jawaban, dan lihat skor akhir Anda.
Masuk dengan Google — Gratis
TOEFL ITP Preparation - Paket 10
TOEFL-ITP
TOEFL ITP - Reading Comprehension
107. Read the following passage, then answer the question below.
Few financial stories are retold as often as tulip mania. According to the popular version, in the 1630s the people of the Dutch Republic became so obsessed with tulips that a single bulb could cost more than a house, and when prices collapsed in early 1637, thousands were ruined. The tale was fixed in the public imagination by Charles Mackay, a Scottish journalist whose 1841 book on mass delusions described the episode in vivid detail and has been cited ever since as a warning about speculative bubbles.
Recent historians have been far more cautious. The tulips that commanded the highest prices were rare varieties whose petals were streaked with flame-like patterns. Growers did not know that the streaks were caused by a virus, which also weakened the bulb, so the prized varieties were hard to multiply, and their scarcity was genuine. Moreover, in the winter months, when bulbs were still in the ground, traders bought and sold written contracts promising delivery in spring. These contracts allowed people with little capital to bet on future prices, and many were passed from buyer to buyer without any bulb changing hands. When the market faltered in February 1637, some buyers simply refused to honor their contracts.
Yet the evidence for widespread ruin is thin. The historian Anne Goldgar searched Dutch archives for the bankrupt tulip investors that the legend promised and found remarkably few. Courts negotiated settlements, and the larger economy of the Netherlands continued to flourish. This does not mean that nothing unusual happened; prices did climb and fall with astonishing speed. But the lesson of the episode may be less about collective madness than about how new financial instruments can let people gamble on assets they never intend to own.
What can be inferred about the contracts traded in winter?
Jawaban: A
Pembahasan: Banyak kontrak berpindah tangan tanpa ada umbi yang berpindah, sehingga nilainya tidak bergantung pada kepemilikan umbi.
Paket soal lain di kategori ini
Lanjut latihan dengan paket lain yang sejenis.
Soal lain yang bisa kamu coba
Pilihan acak dari kategori yang sama.
- Listen to the short conversation, then answer the question.What does the woman imply? TOEFL ITP Preparation - Paket 13 · Soal 2 · TOEFL ITP - Listening Part A
- Identify the one underlined word or phrase that must be changed for the sentence to be correct.The researcher. TOEFL ITP Preparation - Paket 13 · Soal 73 · TOEFL ITP - Structure and Written Expression
- Choose the word or phrase that best completes the sentence.Such was the demand for tickets ________ the conce. TOEFL ITP Preparation - Paket 13 · Soal 57 · TOEFL ITP - Structure and Written Expression
- Choose the word or phrase that best completes the sentence.There was ________ progress made on the project th. TOEFL ITP Preparation - Paket 04 · Soal 65 · TOEFL ITP - Structure and Written Expression
- Identify the one underlined word or phrase that must be changed for the sentence to be correct.The new policy. TOEFL ITP Preparation - Paket 13 · Soal 67 · TOEFL ITP - Structure and Written Expression
Kategori terkait
Paket dari kategori yang masih satu rumpun.
Mungkin kamu juga tertarik
Seleksi Kompetensi Tambahan Tendik (Administrasi Perkantoran) - Paket 05
Seleksi Kompetensi Tambahan Administrasi Perkantoran
75 soal · 70 menit
Lihat Bank Soal