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On the whole, the American population has very little taste for income

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On the whole, the American population has very little taste for income  [#permalink]

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New post 30 Aug 2018, 01:03
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Question 1
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based on 22 sessions

32% (03:41) correct 68% (02:26) wrong

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Question 2
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based on 23 sessions

22% (02:32) correct 78% (01:43) wrong

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based on 21 sessions

62% (01:21) correct 38% (01:15) wrong

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based on 19 sessions

74% (01:03) correct 26% (02:02) wrong

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Source: McGraw Hills GMAT 2013 (120)

On the whole, the American population has very little taste for income redistribution as economic policy. Beginning in the 1930s, public opinion polls have rarely shown strong support for income redistribution; during times of economic hardship, the percentage of Americans in favor of such a system has barely crested 50 percent. Similarly, Americans have been reluctant to press for a limit on the profits of big corporations, with less than a third of those polled in the 20 year span between 1950 and 1970 favoring such a policy.

Even during the Depression, the populace was reluctant to embrace income redistribution as a solution to the country’s woes. In 1939, over 60 percent of respondents indicated that the government should not increase taxes on the wealthy and an overwhelming majority—over 80 percent—rejected the idea of the government confiscating wealth. Clearly, the American spirit of Lockean liberalism and rugged individualism runs deep. It appears that most people are content to trust income distribution to the private market.

Of course, while overall support for income distribution remains low on average, there are some significant differences in levels of support based on income levels. As expected, those in the lowest income bracket demonstrate the strongest support for employment and income maintenance programs. However, contrary to expectations, these differences in support were not largest during the volatile economic times of the 1930s and 1940s. Rather, the documented differences in support based on income have been relatively stable over time. On the whole, political scientists have noticed anywhere from a 22 percent to 34 percent difference between the opinions of those classified as “prosperous” and those classified as “poor” on the question of income redistribution.

1. The main point made by the passage is that

A. The American spirit of Lockean liberalism is primarily responsible for the population’s rejection of income redistribution.
B. Despite some variations in support based on income levels, the American population on the whole views income redistribution policies with disfavor, even during times of economic hardship.
C. Although polls have indicated some variation in response level, on the whole, less than 50 percent of Americans support income redistribution.
D. Poll results on government income redistribution policies have remained stable over time, even during periods of economic hardship.
E. Income redistribution is not viewed as the solution to economic difficulties by the majority of American citizens.


2. The passage states that differences in support for governmental income redistribution policies

A. defied expectations by showing that those in lower income brackets had less support for these programs than those in higher income brackets
B. vary greatly depending the income level of respondents and the economic conditions at the time the poll is taken
C. are not, for the most part, significantly affected by outside influences
D. are not significantly different due to the American ideal of rugged individualism
E. are based solely on differences in the income levels of respondents


3. Which of the following can be inferred from the passage?

I. During the Depression, a smaller percentage of Americans supported raising taxes than supported government confiscation of wealth
II. Today, about a third of Americans support limits on corporate profits
III. Before 1930, a majority of Americans supported income distribution

A. none
B. I only
C. I and II only
D. I and III only
E. I, II, and III


4. An assumption underlying the author’s assertion in the second paragraph is that

A. the private market is the best way to distribute income in an economy
B. Americans had never experienced economic hardships as severe as those experienced during the Great Depression
C. Lockean liberalism and rugged individualism entail a reliance on private markets for income distribution
D. the government had no intentions of confiscating property during the Great Depression
E. income redistribution would be insufficient to solve the country’s economic woes during the Great Depression



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Re: On the whole, the American population has very little taste for income  [#permalink]

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New post 31 Aug 2018, 18:36
SajjadAhmad

Can you share OE for question 2)?
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It seems Kudos button not working correctly with all my posts...

Please check if it is working with this post......

is it?....

Anyways...Thanks for trying :cool:

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On the whole, the American population has very little taste for income  [#permalink]

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New post 31 Aug 2018, 20:00
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Harshgmat wrote:
SajjadAhmad

Can you share OE for question 2)?


Harshgmat

Official Explanation for Question # 2

Answer: C

This is a supporting idea question. The question asks about “differences” in support, so look in the last paragraph. The author states “However, contrary to expectations, these differences in support were not largest during the volatile economic times of the 1930s and 1940s. Rather, the documented differences in support based on income have been relatively stable over time.” If the differences are stable over time, they are not significantly affected by outside influences, making choice C correct. Choice A is wrong because the differences were contrary to expectations because they did not vary with the economic conditions, not because of income levels. Choice B is the opposite of what the passage says. Choice D quotes the wrong part of the passage and makes an assertion that is not stated in the passage.Choice E is too strong because it states that differences are based “solely” on income.

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On the whole, the American population has very little taste for income &nbs [#permalink] 31 Aug 2018, 20:00
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