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Re: Many political economists believe that the soundest indicator of the [#permalink]
2
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mahakbansal8786 wrote:
Sajjad1994
could you please explain why in question 2 ans is option 1
In para 1, welfare hasn't been defined but in "The welfare of a nation’s
(40) residents is a matter not merely of total economic
benefit, but also of the distribution of economic
benefits across the entire society." it is given what welfare entails. So according to that shouldn't the answer be option 2?

Line 40 is para 2. The question asks what the author meant by welfare in para 1.

Many political economists believe that the soundest
indicator of the economic health of a nation is the
nation’s gross national product (GNP) per capita—a
figure reached by dividing the total value of the goods
(5) produced yearly in a nation by its population and taken
to be a measure of the welfare of the nation’s residents.
But there are many factors affecting residents’ welfare
that are not captured by per capita GNP
; human
indicators, while sometimes more difficult to calculate
(10) or document, provide sounder measures of a nation’s
progress than does the indicator championed by these
economists. These human indicators include nutrition
and life expectancy; birth weight and level of infant
mortality; ratio of population level to availability of
(15) resources; employment opportunities; and the ability of
governments to provide services such as education,
clean water, medicine, public transportation, and mass
communication for their residents.


the bold part is the answer. It says there are other factors -
-nutrition & life expectancy;
-birth weight and level of infant mortality;
-ratio of population level to availability of resources;
-employment opportunities;
-the ability of governments to provide services such as education, clean water, medicine, public transportation,
-mass communication for their residents.

Essentially all these factors can be grouped under "overall quality of life"

Hope this helps.
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Re: Many political economists believe that the soundest indicator of the [#permalink]
Sajjad1994 Could you please provide an explanation for question no. 3? I am unable to eliminate option D.
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Re: Many political economists believe that the soundest indicator of the [#permalink]
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Expert Reply
Official Explanation


3. The passage provides specific information about each of the following EXCEPT:

Difficulty Level: 700

Explanation

Pinpointing the information mentioned in the four wrong choices may be the fastest way to identify the choice that goes undescribed. (A) is clearly lines 3-6, and the full sentence in lines 1-6 addresses (B). (C) is explained in lines 55-58, while those same lines, not to mention lines 28-39, go into detail as to (D)’s issue (as well they might; (D)’s issue is at the heart of the entire argument). But (E) is never discussed, and no wonder: Why would the author include information as to how to improve the very measuring factor—per capita GNP—that he wants nations to eschew?

Answer: E


Prajjwal226 wrote:
Sajjad1994 Could you please provide an explanation for question no. 3? I am unable to eliminate option D.
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Re: Many political economists believe that the soundest indicator of the [#permalink]
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1. Which one of the following titles most accurately expresses the main point of the passage?

(A) “The Shifting Meaning of Per Capita GNP: A Historical Perspective”
There is no mention of past v/s now in the passage

(B) “A Defense of Per Capita GNP: An Economist’s Rejoinder”
Opposite to the stimulus will be true..Per Capita GNP has been proposed to be discarded in favor of Human Indicators to measure the Economic health

(C) “The Preferability of Human Indicators as Measures of National Economic Health”
Clearly highlights the focus of the passage. The preference for Human Indicators to measure the Economic Health has been emphasized throughout the passage

(D) “Total Wealth vs. Distribution of Wealth as a Measure of Economic Health”
Though mentioned in first paragraph, it's not the focus of the passage as a whole

(E) “A New Method of Calculating Per Capita GNP to Measure National Economic Health”
New method/technique has not been emphasized; rather the preference for Human Indicators to measure the Economic Health has been emphasized

(C) is the CORRECT answer
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Re: Many political economists believe that the soundest indicator of the [#permalink]
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2. The term “welfare” is used in the first paragraph to refer most specifically to which one of the following?

(A) the overall quality of life for individuals in a nation
Lines 12-18 of the 1st paragraph clearly summarize into 'the overall quality of life'

(B) the services provided to individuals by a government
services is just a subset of the whole concept of welfare mentioned in the 1st paragraph

(C) the material wealth owned by individuals in a nation
material wealth is not implied here

(D) the extent to which the distribution of wealth among individuals in a nation is balanced
welfare , as mentioned in the 1st paragraph, doesn't highlight the distribution of health

(E) government efforts to redistribute wealth across society as a whole
government efforts also just forms a subset of the whole concept of welfare mentioned in the 1st paragraph

(A) is the CORRECT answer
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Re: Many political economists believe that the soundest indicator of the [#permalink]
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3. The passage provides specific information about each of the following EXCEPT:

(A) how per capita GNP is calculated
Paragraph 1 mentions this aspect

(B) what many political economists believe to be an accurate measure of a nation’s economic health
The opening lines of the Paragraph 1 highlights the measure as per many political economists

(C) how nations with a relatively low per capita GNP can sometimes be economically healthier than nations whose per capita GNP is higher
An implication after understanding lines 30-35 in the 2nd paragraph

(D) why human indicators may not provide the same picture of a nation’s economic health that per capita GNP does
Mentioned in the lines 39-40 in the 2nd paragraph

(E) how nations can adjust their domestic economic efforts to bring about substantial improvements in per capita GNP
No discussion in the passage regarding this aspect; CORRECT answer

(E) is the CORRECT answer
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Many political economists believe that the soundest indicator of the [#permalink]
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4. Which one of the following scenarios, if true, would most clearly be a counterexample to the views expressed in the last paragraph of the passage?

Clearly, the passage highlights the human indicators driving the economic health; hence, a counterexample is likely to focus on measures/initiatives away from those that are directed towards increasing the levels of human indicators.

(A) The decision by a nation with a low level of economic health as measured by human indicators to focus on increasing the levels of human indicators results in slower growth in its per capita GNP.
GNP growth is not the focus of the author's views as expressed in the last paragraph

(B) The decision by a nation with a low level of economic health as measured by human indicators to focus on increasing domestic production of goods results in significant improvements in the levels of human indicators.
In line with our pre-thinking; highlights other measures , ie the measures/initiatives 'away' from those that are directed towards increasing the levels of human indicators

(C) The decision by a nation with a low level of economic health as measured by human indicators to focus on increasing the levels of human indicators results in increased growth in per capita GNP.
per capita GNP growth is not the focus of the author's views as expressed in the last paragraph

(D) The decision by a nation with a low per capita GNP to focus on improving its level of economic health as measured by human indicators fails to bring about an increase in per capita GNP.
here also, the per capita GNP growth is not the focus of the author's views as expressed in the last paragraph

(E) The decision by a nation with a low per capita GNP to focus on increasing domestic production of goods fails to improve its economic health as measured by human indicators.
In line with the argument of the passage as a whole

(B) is the CORRECT answer
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Many political economists believe that the soundest indicator of the [#permalink]
5. The primary function of the last paragraph of the passage is to

The last paragraph focuses on the measures to be initiated by the nations in respect of their economic efforts. Such focus areas are the implications arising out of the understanding of the issues presented in the first two paragraphs.

(A) offer a synthesis of the opposing positions outlined in the first two paragraphs
last paragraph draws implications on basis of arguments presented in the first two paragraphs

(B) expose the inadequacies of both positions outlined in the first two paragraphs
implications are described, not inadequacies of positions outlined in the first two paragraphs

(C) summarize the argument made in the first two paragraphs
No, it's not the summary; rather, the implications on method for directing the economic efforts

(D) correct a weakness in the political economists’ position as outlined in the second paragraph
this aspect of correcting the weaknesses in the political economists’ position --- is a part of 1st and 2nd paragraph; the 3rd paragraph deals with consequent implications

(E) suggest policy implications of the argument made in the first two paragraphs
In line with our pre-thinking ie, the last paragraph focuses on the measures to be initiated by the nations in respect of their economic efforts. Such focus areas are the implications arising out of the understanding of the issues presented in the first two paragraphs.

(E) is the CORRECT answer

Originally posted by pintukr on 16 Feb 2023, 03:23.
Last edited by pintukr on 16 Feb 2023, 20:01, edited 1 time in total.
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Many political economists believe that the soundest indicator of the [#permalink]
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6. Based on the passage, the political economists discussed in the passage would be most likely to agree with which one of the following statements?

It's a 'direct reference' question.

Reference from the Passage. (Lines 19-24 in 2nd paragraph) The economists defend their use of per capita GNP as the sole measure of a nation’s economic health by claiming that improvements in per capita GNP eventually stimulate improvements in human indicators.

(A) A change in a nation’s per capita GNP predicts a similar future change in the state of human indicators in that nation.
Reference from the passage (as presented above)

(B) The level of human indicators in a nation is irrelevant to the welfare of the individuals in that nation.
No denial of such sort can be attributed to the political economists

(C) A high per capita GNP in a nation usually indicates that the wealth in the nation is not distributed across the society as a whole.
It's the author's implication, not the view of political economists

(D) The welfare of a nation’s residents is irrelevant to the economic health of the nation.
Contrary to the views of the political economists

(E) The use of indicators other than material wealth to measure economic well-being would benefit a nation.
material wealth can't be discounted, as the per capita GNP factors the calculations on the basis of material wealth

(A) is the CORRECT answer
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Many political economists believe that the soundest indicator of the [#permalink]
7. In the passage, the author’s primary concern is to

(A) delineate a new method of directing domestic economic efforts
only the policy implications have been presented, ie, a focus away from per capita GNP

(B) point out the weaknesses in one standard for measuring a nation’s welfare
The passage as a whole highlights the weaknesses in the per capita GNP approach, and consequent policy implications...CORRECT answer

(C) explain the fact that some nations have both a high per capita GNP and a low quality of life for its citizens
may or may not be true..not the focus of the passage

(D) demonstrate that unequal distribution of wealth is an inevitable result of a high per capita GNP
only an implication of the current method of 'per capita GNP' approach.

(E) argue that political economists alone should be responsible for economic policy decisions
No such claims presented in the passage

(B) is the CORRECT answer
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Re: Many political economists believe that the soundest indicator of the [#permalink]
@GMATNinja/ Sajjad1994 Could you please explain how to eliminate Option A in Q5 here?
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Many political economists believe that the soundest indicator of the [#permalink]
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­They recognize that unless a shift in focus away from
using material wealth as the sole indicator of economic
success is effected, the well-being of the nation may be
(55) endangered, and that nations that do well according
to human indicators may thrive even if their per capita
GNP remains stable or lags behind that of other
nations.


From the highlighted pèortion clearly, the last paragraph is suggesting something and not a synthesis of the opposing positions 

A is wrong for this reason.

I hope this helps­
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Many political economists believe that the soundest indicator of the [#permalink]
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