In this TARP passage sentence, select the word that best completes the blank: “These assets ______ later at a profit by the government!”

Introduction / Context:
This question focuses on correct tense, voice, and phrasal verb usage in English. The sentence comes from a passage describing how the government first purchased troubled assets and later sold them at a profit. The blank occurs in a passive construction: “These assets ______ later at a profit by the government!” Candidates must identify the grammatically correct and contextually appropriate passive form of the phrasal verb “dispose of.”

Given Data / Assumptions:

• The sentence is about a completed action in the past: the government later sold off the assets.
• Options: “are disposed of,” “were disposed of,” “are disposed off,” and “had been disposed off.”
• The phrase “later at a profit” suggests a simple past event that followed earlier actions already described in the passage.
• The correct phrasal verb is “dispose of,” not “dispose off.”

Concept / Approach:
The main concepts are:

• Correct form of the phrasal verb “dispose of,” which always takes “of,” not “off.”
• Correct tense for an event that occurred later in the past, in a narrative written mostly in simple past.
• Passive structure: subject (assets) + was/were + past participle + “by the government.”

Considering these, we must choose a passive, simple past form of “dispose of.”

Step-by-Step Solution:
Step 1: Identify the main verb phrase: “dispose of assets,” which means to sell or get rid of them. Step 2: Recall that the correct preposition in this phrasal verb is “of.” The spelling “off” is wrong in this context. Step 3: Examine the narrative tense of the passage. It discusses past events: the government had purchased assets and later sold them at a profit. Therefore, simple past passive is natural. Step 4: Evaluate option “are disposed of.” This is present simple passive, which does not match the clearly past time reference “later ... by the government.” Step 5: Evaluate option “were disposed of.” This is simple past passive, which aligns with the narrative and describes a completed action in the past. It also uses the correct preposition “of.” Step 6: Evaluate option “are disposed off.” This is present passive and also uses the incorrect preposition “off,” so it fails both in tense and spelling of the phrasal verb. Step 7: Evaluate option “had been disposed off.” This is past perfect passive but again uses “off,” which is wrong. Moreover, the sentence does not require past perfect because there is no later past reference that would demand this tense. Step 8: Conclude that “were disposed of” is the only fully correct choice.
Verification / Alternative check:
We can restate the sentence: “These assets were disposed of later at a profit by the government.” This fits naturally into the narrative sequence: first the government purchased the assets, then, some time later, it disposed of them profitably. The tense is simple and clear, and the passive voice is correct, since the focus is on the assets rather than on the government as the actor.

Why Other Options Are Wrong:

• are disposed of: Uses present tense and does not match the narrative context of completed past events. It suggests a regular or present-time action, which is not intended here.
• are disposed off: Incorrect on two counts: present tense instead of past, and wrong preposition (“off” instead of “of”).
• had been disposed off: The use of past perfect is not necessary because there is no second, later past reference. More importantly, it uses “off” rather than “of,” making the phrasal verb itself incorrect.

Common Pitfalls:
Learners often confuse “of” and “off” in phrasal verbs. “Dispose of” is the fixed phrase that means to get rid of; “off” typically suggests separation or movement away in other contexts. Another pitfall is overusing the past perfect tense when simple past is enough. Past perfect is used when one past action clearly occurs before another past reference point, but here the narrative simply states a later past event and does not contrast it with a still later time. Therefore, simple past passive is the best choice.

Final Answer:
The correct completion of the sentence is were disposed of.