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For over a decade the most common policy advice given to

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For over a decade the most common policy advice given to [#permalink] New post 28 May 2011, 00:24
For over a decade the most common policy advice given to developing countries by international development institutions has been to copy the export-oriented path of the newly industrializing countries, the celebrated NIC's. These economies��Brazil, Hong Kong, Mexico, Singapore, South Korea, and Taiwan�� burst into the world manufacturing market in the late 1960's and the 1970's; by 1978 these six economies, along with India, enjoyed unequaled growth rates for gross national product and for exports, with exports accounting for 70 percent of the developing world's manufactured exports. It was, therefore, not surprising that dozens of other countries attempted to follow their model, yet no countries��with the possible exceptions of Malaysia and Thailand��have even approached their success. In ��No More NIC's,�� Robin Broad and John Cavanagh search for the reasons behind these failures, identifying far-reaching changes in the global economy��from synthetic substitutes for commodity exports to unsustainable levels of foreign debt��as responsible for a glut economy offering little room for new entrants. Despite these changes, the authors maintain, the World Bank and the International Monetary Fund��the foremost international development institutions��have continued to promote the NIC path as the way for heavily indebted developing countries to proceed. And yet the futility of this approach should, according to the authors, be all too apparent so many years into a period of reduced growth in world markets.

Q1: Given the information in the passage, which of the following is a true statement about the NIC's?
A. Their economic success among developing countries has been exceeded only by the successes of Malaysia and Thailand.
B. By 1978 they produced 70 percent of the world's manufactured exports.
C. In the late 1970's, their growth rates for gross national product were among the highest in the world.
D. In recent years their development has been heavily subsidized by major international development institutions.
E. They received conflicting policy advice from international development institutions in the late 1960's and the 1970's.

Q2: The author of the passage most clearly implies that Broad and Cavanagh disagree with the World Bank and the International Monetary Fund about which of the following?
A. The ways in which the global economy has changed in recent years
B. The causes of the unsustainable levels of foreign debt that the developing countries have incurred in recent years
C. The level of foreign debt that should be maintained by developing countries
D. The degree to which international development institutions should monitor the growth of developing countries
E. The degree to which heavily indebted developing countries should emphasize exports in their overall economic strategy

Q3: The author mentions Malaysia and Thailand in order to
A. acknowledge the appearance of implausibility in a broad claim
B. concede the possible existence of counter-examples to a generalization
C. offer additional evidence in support of a disputed conclusion
D. illustrate the broad applicability of a hypothesis
E. admit the limited scope of a standard analysis

Can anyone please explain the answer for Q2 ???
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Re: RC gmatprep1 broad and cavanagh [#permalink] New post 31 May 2011, 06:25
1. C
2. E (notice the change in tone after the author describes the research findings of Broad and Cavanagh "Despite these changes, the authors maintain, the World Bank and ... have continued..". This explains that the authors doesn't support this method for alleviating the condition of nations in heavy debts.
3. B

let me know the OA.
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Re: RC gmatprep1 broad and cavanagh [#permalink] New post 02 Jun 2011, 12:49
OA C E B
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Re: RC gmatprep1 broad and cavanagh [#permalink] New post 07 Nov 2011, 02:56
pkmme wrote:
1. C
2. E (notice the change in tone after the author describes the research findings of Broad and Cavanagh "Despite these changes, the authors maintain, the World Bank and ... have continued..". This explains that the authors doesn't support this method for alleviating the condition of nations in heavy debts.
3. B

let me know the OA.


Hi
I still did not understand why the answer to the 2nd ques is E. Where does the exports parts come in? The passage only mentions the unsustainable levels of debts. Nor does it say the NIC path is to emphasize exports in their overall economic strategy.

Please can someone explain?
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Re: For over a decade the most common policy advice given to [#permalink] New post 14 Nov 2011, 04:57
C;E;B.

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Re: For over a decade the most common policy advice given to [#permalink] New post 14 Nov 2011, 22:55
answers are C, E B.
However,initially,for question 2,i had chosen B. So i did get that wrong in the fist shot. After going through the option again,i realised,the answer lies in,

'Despite these changes, the authors maintain, the World Bank and the International Monetary Fund the foremost international development institutions have continued to promote the NIC path as the way for heavily indebted developing countries to proceed. '
Which states the contradiction of the two.
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Re: For over a decade the most common policy advice given to [#permalink] New post 23 Feb 2013, 23:59
Hi ... Can anyone explain all the answers for this passage?
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Re: For over a decade the most common policy advice given to [#permalink] New post 24 Feb 2013, 04:27
roopika2990 wrote:
Hi ... Can anyone explain all the answers for this passage?


1. A) - Not mentioned : Incorrect
B) - Wrong as their export accounted for 70% of developing world's manufactured exports : Incorrect
C) - "by 1978 these six economies, along with India, enjoyed unequaled growth rates for gross national product" : Correct
D) - Not mentioned : Incorrect
E) - Not mentioned : Incorrect

2. IMF and Worl Bank are stiil promoting NIC approach, that is, to "copy the export-oriented path". Robin Broad and John Cavanagh have called the futility of this approach to be apparent.
So, the point of disagreement between the two is E)

3. I confess to not have a good explanation.

Hope this helps.
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Re: For over a decade the most common policy advice given to [#permalink] New post 02 Dec 2013, 13:44
I initial choose A but then re-evaluated to B.


Q3: The author mentions Malaysia and Thailand in order to
A. acknowledge the appearance of implausibility in a broad claim - Incorrect
-- implausibility mean author is in disbelief how this could happen. which is not the intend.
B. concede the possible existence of counter-examples to a generalization - Correct
-- author concede (does not deny the existence) of the event. which is what author intends to say.
C. offer additional evidence in support of a disputed conclusion - Incorrect
-- nope no evidence is presented only an event is conceded.
D. illustrate the broad applicability of a hypothesis - Incorrect
-- this is clear no
E. admit the limited scope of a standard analysis - Incorrect
-- limited scope of a standard analysis? no analysis is presented.


hope that helps.
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Re: For over a decade the most common policy advice given to [#permalink] New post 04 Sep 2014, 10:37
I request the members to discuss Q3:

Why its B and not C? I am more inclined towards C for this.

Q3: The author mentions Malaysia and Thailand in order to

B. concede the possible existence of counter-examples to a generalization
C. offer additional evidence in support of a disputed conclusion

It was, therefore, not surprising that dozens of other countries attempted to follow their model, yet no countries with the possible exceptions of Malaysia and Thailand have even approached their success. In No More NIC's,...
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For over a decade the most common policy advice given to [#permalink] New post 04 Sep 2014, 10:42
Total time taken 9mins for all Qs.
Q1: Given the information in the passage, which of the following is a true statement about the NIC's?
A. Their economic success among developing countries has been exceeded only by the successes of Malaysia and Thailand.
B. By 1978 they produced 70 percent of the world's manufactured exports.
C. In the late 1970's, their growth rates for gross national product were among the highest in the world.
>>... by 1978 these six economies, along with India, enjoyed unequaled growth rates for gross national product and for exports, with exports accounting for 70 percent of the developing world's manufactured exports.

D. In recent years their development has been heavily subsidized by major international development institutions.
E. They received conflicting policy advice from international development institutions in the late 1960's and the 1970's.

Q2: The author of the passage most clearly implies that Broad and Cavanagh disagree with the World Bank and the International Monetary Fund about which of the following?
A. The ways in which the global economy has changed in recent years
B. The causes of the unsustainable levels of foreign debt that the developing countries have incurred in recent years
C. The level of foreign debt that should be maintained by developing countries
D. The degree to which international development institutions should monitor the growth of developing countries
E. The degree to which heavily indebted developing countries should emphasize exports in their overall economic .
No More NIC's, Robin Broad and John Cavanagh search for the reasons behind these failures, identifying far-reaching changes in the global economy from synthetic substitutes for commodity exports to unsustainable levels of foreign debt as responsible for a glut economy offering little room for new entrants. .
Despite these changes, the authors maintain, the World Bank and the International Monetary Fund the foremost international development institutions have continued to promote the NIC path as the way for heavily indebted developing countries to proceed.

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For over a decade the most common policy advice given to   [#permalink] 04 Sep 2014, 10:42
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