Bunuel wrote:
Recent studies have shown that there are now one teacher for every thirty-one students in California's elementary schools, not nearly as many than there were even five years ago.
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(A) there are now one teacher for every thirty-one students in California's elementary schools, not nearly as many than there were
Here we have a subject-verb agreement issue. "There are" should be replaced by "There is". We can eliminate it.
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(B) there are now one teacher for every thirty-one students in California's elementary schools, not nearly as many as there were
Subject-verb agreement issue as it is in option A. So, we can leave this.
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(C) there is now one teacher for every thirty-one students in California's elementary schools, not nearly as many than there was
Here subject-verb agreement is correct, but the idiom used "as many than" is not correct. Also "there was" is not correct. Eliminated.
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(D) there is now one teacher for every thirty-one students in California's elementary schools, but that ratio is much lower than
Here we have a illogical comparison. Current ratio has been compared directly to five years ago. This is nonsensical. We can eliminate this option.
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(E) there is now one teacher for every thirty-one students in California's elementary schools, not nearly as many as there were
This is a perfect choice. It is using correct subject-verb pair and also correct idiom i.e. "as many as"
So, the answer is E.