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13 Jul 2019, 03:22
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Difficulty:
25%
(medium)
Question Stats:
77% (01:44) correct
23%
(02:01)
wrong
based on 293
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Not Attempted Yet
Senator: Some economists believe that our country’s continued growth requires a higher level of homeownership than we currently have. A recent proposal would allow individuals to remove as much as $20,000 from an IRA, SEP IRA, and Keogh without penalty if the money went to the purchase of a primary residence. Supporters of this proposal claim that its implementation would increase revenues for the construction industry as well as tax revenues for city, county, and state governments.
The passage as a whole provides the most support for which one of the following conclusions?
(A) The proposed incentive is likely to attract additional money into the homebuying market.
(B) Supporters of this proposal have some motive other than their expressed aim.
(C) The government has no effective means of influencing the amount of money that people are willing to put into savings accounts.
(D) A program that resulted in an increase of tax revenues would be greeted negatively by city, county, and state officials.
(E) The economy is in danger unless some incentive to increased homeownership can be found to stimulate growth.
The passage as a whole provides the most support for which one of the following conclusions?
(A) The proposed incentive is likely to attract additional money into the homebuying market.
(B) Supporters of this proposal have some motive other than their expressed aim.
(C) The government has no effective means of influencing the amount of money that people are willing to put into savings accounts.
(D) A program that resulted in an increase of tax revenues would be greeted negatively by city, county, and state officials.
(E) The economy is in danger unless some incentive to increased homeownership can be found to stimulate growth.
Source: Nova GMAT
WiziusCareers1
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13 Jul 2019, 04:18
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(A) The proposed incentive is likely to attract additional money into the homebuying market.
Yes. As now I am allowed to invest this money to buy a new house or otherwise I have to keep it in the savings.
(B) Supporters of this proposal have some motive other than their expressed aim.
This is neither mentioned nor implied.
(C) The government has no effective means of influencing the amount of money that people are willing to put into savings accounts.
This method could itself help to increase the money people put in saving account. So, this can't be correct.
(D) A program that resulted in an increase of tax revenues would be greeted negatively by city, county, and state officials.
Can't be said. Most probably, the opposite would be true.
(E) The economy is in danger unless some incentive to increased homeownership can be found to stimulate growth.
No one suggests that the economy is in danger.
Yes. As now I am allowed to invest this money to buy a new house or otherwise I have to keep it in the savings.
(B) Supporters of this proposal have some motive other than their expressed aim.
This is neither mentioned nor implied.
(C) The government has no effective means of influencing the amount of money that people are willing to put into savings accounts.
This method could itself help to increase the money people put in saving account. So, this can't be correct.
(D) A program that resulted in an increase of tax revenues would be greeted negatively by city, county, and state officials.
Can't be said. Most probably, the opposite would be true.
(E) The economy is in danger unless some incentive to increased homeownership can be found to stimulate growth.
No one suggests that the economy is in danger.
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