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The obsession of economists with consumption as a measure of

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Manager
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The obsession of economists with consumption as a measure of [#permalink] New post 28 Jul 2007, 23:57
00:00
A
B
C
D
E

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(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
The obsession of economists with consumption as a
measure of economic well-being has prevented us from
understanding the true nature of economic well-being.
We get very little satisfaction out of the fact that our
clothing wears out, our automobiles depreciate, and the
gasoline in our tanks burns up and must be replaced.
The author is arguing that
(A) economic well-being cannot be defined solely in
terms of consumption
(B) satisfaction is possible without consumption
(C) valid measures of consumption cannot be
devised
(D) modern products are designed for early
obsolescence
(E) satisfaction can provide an adequate quantitative
measure of economic well-being
OA will be posted later :?
Director
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Re: CR -Toughie [#permalink] New post 29 Jul 2007, 00:08
suithink wrote:
The obsession of economists with consumption as a
measure of economic well-being has prevented us from
understanding the true nature of economic well-being.
We get very little satisfaction out of the fact that our
clothing wears out, our automobiles depreciate, and the
gasoline in our tanks burns up and must be replaced.
The author is arguing that
(A) economic well-being cannot be defined solely in
terms of consumption
(B) satisfaction is possible without consumption
(C) valid measures of consumption cannot be
devised
(D) modern products are designed for early
obsolescence
(E) satisfaction can provide an adequate quantitative
measure of economic well-being
OA will be posted later :?


A sounds like it could be the conclusion. What is the OA?
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 [#permalink] New post 29 Jul 2007, 00:21
Remember this a toughie.. :)
Any further thoughts....
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Re: CR -Toughie [#permalink] New post 29 Jul 2007, 00:25
suithink wrote:
The obsession of economists with consumption as a
measure of economic well-being has prevented us from
understanding the true nature of economic well-being.
We get very little satisfaction out of the fact that our
clothing wears out, our automobiles depreciate, and the
gasoline in our tanks burns up and must be replaced.
The author is arguing that
(A) economic well-being cannot be defined solely in
terms of consumption
(B) satisfaction is possible without consumption
(C) valid measures of consumption cannot be
devised
(D) modern products are designed for early
obsolescence
(E) satisfaction can provide an adequate quantitative
measure of economic well-being
OA will be posted later :?


Fine, I changed my mind! The more I think about it the more E sounds appealing to me. The writer is saying that the current method measuring economic well-being (consumption) is not good enough since we get little satisfaction. So in order to measure economic well being we must employ another way of measuring satisfaction?
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 [#permalink] New post 29 Jul 2007, 00:25
OA is not A,E.........!

Last edited by suithink on 29 Jul 2007, 00:27, edited 1 time in total.
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 [#permalink] New post 29 Jul 2007, 00:26
YAY! But was my logic correct though in finding the answer?
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 [#permalink] New post 29 Jul 2007, 00:28
Okay now I'm confused! :cry:
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 [#permalink] New post 29 Jul 2007, 00:29
b?
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 [#permalink] New post 29 Jul 2007, 00:32
Kindly Post why you choose an option...
process is more important here...keep trying... :wink:
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 [#permalink] New post 29 Jul 2007, 00:33
suithink wrote:
Kindly Post why you choose an option...
process is more important here...keep trying... :wink:


stop teasing us ! :-D
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 [#permalink] New post 29 Jul 2007, 00:44
ok i change my answer ...i will go with C

one one hand consumption is good for our economy but on the other hand when our goods get consumed/torn..blah blah...its not good for our economic condition :)...so you can't have valid measure of consumption.

:-D
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 [#permalink] New post 29 Jul 2007, 01:03
B in my opinion.
The author argues that while they try to measure well-being by consumption, consumption does not actually reflect satisfaction that means well-being.
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 [#permalink] New post 29 Jul 2007, 01:05
ill go with B
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 [#permalink] New post 29 Jul 2007, 01:24
beckee529 wrote:
suithink wrote:
Kindly Post why you choose an option...
process is more important here...keep trying... :wink:


stop teasing us ! :-D


I am going to still tease a bit more...
OA is not A,B,C,E ....!
Any explanations ..?

Last edited by suithink on 29 Jul 2007, 01:27, edited 1 time in total.
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 [#permalink] New post 29 Jul 2007, 01:25
I first thought A.

Only A, B and E are applicable here... The OA is neither A nor E. S its got to be B.

Very Clever :twisted: :cry:
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 [#permalink] New post 29 Jul 2007, 01:33
suithink wrote:
beckee529 wrote:
suithink wrote:
Kindly Post why you choose an option...
process is more important here...keep trying... :wink:


stop teasing us ! :-D


I am going to still tease a bit more...
OA is not A,B,C,E ....!
Any explanations ..?


Crap... I was toying with that choice for a loooooong time. Then I decided it might be out of scope.

The reason why I gave it a thought was because he mentions all the products and a strong dislike about those products degrading with time. But Why did he say "modern" products. Thats what killed me. There is no mention of the word "modern".Also, its a relative term and unless I consider automobiles and gasoline as modern products, I wont come to that conclusion.
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 [#permalink] New post 29 Jul 2007, 01:49
great question.. what is the source?
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 [#permalink] New post 29 Jul 2007, 02:07
The obsession of economists with consumption as a
measure of economic well-being has prevented us from
understanding the true nature of economic well-being.
We get very little satisfaction out of the fact that our
clothing wears out, our automobiles depreciate, and the
gasoline in our tanks burns up and must be replaced.
The author is arguing that
Stem says :
Consumption ----> (indicates Economic well being)...but....
Reason for the conclusion is that : all products we use ---must be replaced fast...Implies that rate of consumption is fast and this 'quick' rates may give a false sense of economic well being....
(A) economic well-being cannot be defined solely in
terms of consumption------>stem doesn't says that..
(B) satisfaction is possible without consumption....---> who says
(C) valid measures of consumption cannot be
devised---who says
(D) modern products are designed for early
obsolescence----ok ...something is here...
(E) satisfaction can provide an adequate quantitative
measure of economic well-being ---quantitative...

Source is LSAT ...but first time I chose A ...had a problem in understanding the OA...
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 [#permalink] New post 29 Jul 2007, 03:34
suithink wrote:
The obsession of economists with consumption as a
measure of economic well-being has prevented us from
understanding the true nature of economic well-being.
We get very little satisfaction out of the fact that our
clothing wears out, our automobiles depreciate, and the
gasoline in our tanks burns up and must be replaced.
The author is arguing that
Stem says :
Consumption ----> (indicates Economic well being)...but....
Reason for the conclusion is that : all products we use ---must be replaced fast...Implies that rate of consumption is fast and this 'quick' rates may give a false sense of economic well being....
(A) economic well-being cannot be defined solely in
terms of consumption------>stem doesn't says that..
(B) satisfaction is possible without consumption....---> who says
(C) valid measures of consumption cannot be
devised---who says
(D) modern products are designed for early
obsolescence----ok ...something is here...
(E) satisfaction can provide an adequate quantitative
measure of economic well-being ---quantitative...

Source is LSAT ...but first time I chose A ...had a problem in understanding the OA...


Lets make a killing a few more of these toughies! :)
For many Inference questions, the correct answer is nothing more than what is already stated in the stem. Just some paraphrasing goes.
The fact that D was not discussed at all tells that everyone thought that answer can not be something obvious.
As a rule of thumb, EVERY word in the answer choice should be defendable. Only D qualifies for that.
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Apology [#permalink] New post 29 Jul 2007, 05:03
sorry guys...

Well I was getting a large % of Qs wrong ( as per the key in the LSAT Paper)...I got 'really worried'....checked keys available from another source ...which says OA is A....
All the qs I got wrong in that set were indeed correct...I was thinking that LSAC usually releases the keys along with the Q...
Feeling terrible ..having lost a lot of confidence and peppering you with this Q...
...................please forgive me ( kneeling down.... :shock: )
Apology   [#permalink] 29 Jul 2007, 05:03
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