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Neither a rising standard of living nor balanced trade, by [#permalink]
 23 Jul 2008, 18:26
Question Stats:
70% (01:45) correct
29% (01:41) wrong based on 180 sessions
Neither a rising standard of living nor balanced trade, by itself, establishes a country's ability to compete in the international marketplace. Both are required simultaneously since standards of living can rise because of growing trade deficits and trade can be balanced by means of a decline in a country's standard of living. If the facts stated in the passage above are true, a proper test of a country's ability to be competitive is its ability to (A) balance its trade while its standard of living rises (B) balance its trade while its standard of living falls (C) increase trade deficits while its standard of living rises (D) decrease trade deficits while its standard of living falls (E) keep its standard of living constant while trade deficits rise Please explain your answers
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Re: CR-standard of living [#permalink]
23 Jul 2008, 19:31
goalsnr wrote: Neither a rising standard of living nor balanced trade, by itself, establishes a countrys ability to compete in the international marketplace. Both are required simultaneously since standards of living can rise because of growing trade deficits and trade can be balanced by means of a decline in a countrys standard of living. If the facts stated in the passage above are true, a proper test of a countrys ability to be competitive is its ability to A. balance its trade while its standard of living rises B. balance its trade while its standard of living falls C. increase trade deficits while its standard of living rises D. decrease trade deficits while its standard of living falls E. keep its standard of living constant while trade deficits rise. Please explain your answerstrue test: absense of trade deficit while increasing standard of living -> A B is incorrect because trade deficit is eliminated at expense of standard of living C is incorrect because standard of living is increasing at the expense of trade balance D is incorrect because that's just horrible - huge debt and falling standard of living E is incorrect because standard of living is funded with trade deficit
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Re: CR-standard of living [#permalink]
23 Jul 2008, 20:36
A sounds perfect.
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Re: CR-standard of living [#permalink]
23 Jul 2008, 20:46
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The logic tested here is : If A then B and C A, so B and C A for me!
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Re: CR-standard of living [#permalink]
24 Jul 2008, 08:48
Only A supports the objective - that is remain competitive.
The key is to make sure that Trade deficit is balanced or less when standard of living increases.
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Re: CR-standard of living [#permalink]
24 Jul 2008, 09:54
sondenso wrote: The logic tested here is :
If A then B and C
A,
so B and C
A for me! Thanks. This is the best approach 
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Re: CR-standard of living [#permalink]
24 Jul 2008, 09:56
OA is A
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Re: CR-standard of living [#permalink]
24 Jul 2008, 10:42
sondenso wrote: The logic tested here is :
If A then B and C
A,
so B and C
A for me! Can you explain this? I chose (A) because it states "Neither a rising standard of living nor balanced trade, by itself, establishes a countrys ability to compete in the international marketplace. Both are required simultaneously..."Hence, A fulfills both simultaneously A. balance its trade while its standard of living rises
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Re: CR-standard of living [#permalink]
01 Sep 2010, 06:20
droopy57 wrote: sondenso wrote: The logic tested here is :
If A then B and C
A,
so B and C
A for me! Can you explain this? I chose (A) because it states "Neither a rising standard of living nor balanced trade, by itself, establishes a countrys ability to compete in the international marketplace. Both are required simultaneously..."Hence, A fulfills both simultaneously A. balance its trade while its standard of living rises Yes, I agree with you about your explanation. But I can't understand sondenca's manner. Please tell me more clearly to know it, thanks a lot.
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Re: CR-standard of living [#permalink]
01 Sep 2010, 11:27
Yes, Ans. A
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Re: CR-standard of living [#permalink]
01 Sep 2010, 14:19
IMO A
increasing standard living AND balanced (or decreasing deficit) = ability to compete....
b,c,d,e fail one of the criteria or both...
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Re: CR-standard of living [#permalink]
01 Sep 2010, 14:41
clearly A.
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Re: CR-standard of living [#permalink]
03 Sep 2010, 06:06
A i agree
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Re: CR-standard of living [#permalink]
03 Sep 2010, 10:51
definitely a A
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Re: CR-standard of living [#permalink]
19 May 2011, 05:00
if anyone on this thread is still active....... the answer is A because it restates the premise stated in line 1 of the stem ?
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Re: CR-standard of living [#permalink]
19 May 2011, 07:28
A is a very clear answer.
31 secs
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Re: CR-standard of living [#permalink]
19 May 2011, 10:28
bhandariavi wrote: A is a very clear answer.
31 secs ravi sahab, can u respond with the reasoning ? is it the same as i said ?
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Re: CR-standard of living [#permalink]
19 May 2011, 10:50
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goalsnr wrote: Neither a rising standard of living nor balanced trade, by itself, establishes a country's ability to compete in the international marketplace. Both are required simultaneously since standards of living can rise because of growing trade deficits and trade can be balanced by means of a decline in a country's standard of living. If the facts stated in the passage above are true, a proper test of a country's ability to be competitive is its ability to (A) balance its trade while its standard of living rises (B) balance its trade while its standard of living falls (C) increase trade deficits while its standard of living rises (D) decrease trade deficits while its standard of living falls (E) keep its standard of living constant while trade deficits rise Please explain your answersI had little to no idea how standard of living & balanced trade dictate a country's economic competitiveness. I gathered the information from these two statements in the passage and answered in less than 40 secs. 1st sentence: Rising standard of living is good. Balanced trade is good. But, both should co-exist to gain a competitive edge. 2nd: Why both should co-exist? Rising standard of living is not good when it is an effect of "growing trade deficits". Growing trade deficit(Bad) Balanced trade is not good when it is an effect of "declining standard of living". declining standard of living(Bad) A gives the competitive scenario: "balance its trade while its standard of living rises" Two goods together. Ans: "A"
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Re: CR-standard of living [#permalink]
19 May 2011, 20:56
A is the choice.
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Re: CR-standard of living [#permalink]
08 Jun 2011, 05:11
Good question IMO A
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Re: CR-standard of living
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08 Jun 2011, 05:11
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