In 1637, the price of tulips skyrocketed in Amsterdam, with single bulbs of rare varieties selling for up to the...

Let's begin by understanding the meaning of this sentence. We'll use our understanding of pause points and segment the sentence as shown - understanding and assimilating the meaning of each segment bit by bit!

Sentence Structure

First sentence:

• In 1637,
  • the price of tulips
    • skyrocketed in Amsterdam,
      • with single bulbs of rare varieties
        • selling for up to the equivalent of $200,000 in today's US dollars.

Second sentence:

• Some historians
  • [?] (claiming/claim/having claimed/to claim)
    • that this 'tulip mania' was the first historical instance of an asset bubble,
      • which occurs when investors drive prices to highs not supported by actual demand.

Understanding the Meaning

The first sentence gives us historical context:

• In 1637, tulip prices went crazy in Amsterdam
• Single rare tulip bulbs sold for amounts equivalent to $200,000 today
• That's an enormous amount of money for a flower bulb!

Now the second sentence tells us what historians think about this:

• 'Some historians _______ that this 'tulip mania' was the first historical instance of an asset bubble...'

This is where we have the blank. Let's look at our choices:

• claiming
• claim
• having claimed
• to claim

These are all different forms of the verb "claim." To see what works here, let's understand what the sentence is doing.

We have:

• 'Some historians' as our subject
• Then we need a verb that tells us what these historians do
• The sentence is stating what historians think or assert about tulip mania

What do we notice about the structure here?

• The sentence needs a main action word - the verb that tells us what historians do
• 'Some historians' is plural, so we need a verb form that:
  • Works with a plural subject
  • Can function as the main verb of the sentence
• Looking at our choices:
  • 'claim' is a regular verb in present tense that works with plural subjects
  • 'claiming' is an -ing form that can't work as a main verb by itself
  • 'having claimed' is a special form that also can't work as a main verb by itself
  • 'to claim' is the "to" form that can't work as a main verb by itself

So we need claim - the straightforward present tense verb that works with the plural subject 'Some historians.'

The complete meaning: Some historians assert that this tulip mania was the first time in history we saw an asset bubble - a situation where investors drive prices way higher than actual demand justifies.

Grammar Concept Applied

Using Finite Verbs as Main Verbs

Every complete sentence needs a main verb that can stand on its own - called a finite verb in grammar terms. A finite verb is one that:

• Shows tense (past, present, future)
• Agrees with the subject in number
• Can function as the complete verb of a clause

Forms that CAN work as main verbs (finite):

• claim, claims (present tense)
• claimed (past tense)
• will claim (future tense)

Forms that CANNOT work as main verbs by themselves (non-finite):

• claiming (present participle - needs a helper like "is" or "are")
• to claim (infinitive - expresses purpose or potential, not main action)
• having claimed (perfect participle - needs a helper)

In this question:

• Subject: "Some historians" (plural)
• Need: A finite verb in present tense that agrees with plural subject
• Answer: "claim" (checkmark)

The sentence states a general, current position that historians hold, so we use the simple present tense: "Some historians claim..."