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27 May 2017, 04:02
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
83% (00:54) correct
17%
(01:10)
wrong
based on 465
sessions
History
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Not Attempted Yet
Though most paper currency was at one time backed by fixed assets such as gold or silver, it now derives its purchasing power from a declaratory fiat of the issuing government.
(A) was at one time backed by
(B) had at one time been backed by
(C) was at one time backing
(D) had at one time backed
(E) has at one time been backed by
(A) was at one time backed by
(B) had at one time been backed by
(C) was at one time backing
(D) had at one time backed
(E) has at one time been backed by
BillyZ
Current Student
Joined: 14 Nov 2016
Last visit: 24 Jan 2026
Posts: 1,135
Given Kudos: 926
Location: Malaysia
Concentration: General Management, Strategy
Schools: Sloan '23 (D) Tuck '23 (D) Darden '23 (D) Ross '23 (D) Kellogg '23 (D) Wharton '23 (D) Booth '23 (D) Fuqua '24 (A) Harvard '24 (D) Stanford '24 (D)
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28 May 2017, 22:21
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hazelnut
OFFICIAL EXPLANATION
The original sentence is correct as written. It correctly uses the past tense passive verb form "was backed." In this context, the simple past tense is appropriate since there is no need to indicate any complex time sequence. Further, the passive construction "was backed by" is required to indicate that the currency was supported by something else: fixed assets.
(A) CORRECT. This choice is correct as it repeats the original sentence.
(B) This choice incorrectly uses the past perfect tense "had been backed." The past perfect form (indicated by the word "had") should only be used in a sentence that contains two past actions or events; the earlier past action takes the past perfect tense, while the later past action takes the simple past tense. In this sentence, there is only one past event; therefore, the use of the past perfect tense is unnecessary and incorrect.
(C) This choice incorrectly changes the passive construction "was backed by" into the active "was backing," thereby distorting the meaning of the sentence. The original sentence indicated that the currency was backed by the fixed assets, not, as is suggested here ("paper currency was . . . backing"), that the fixed assets were backed by the currency.
(D) This choice incorrectly uses the past perfect tense and the active voice in the construction "had backed." The past perfect form (indicated by the word "had") should only be used in a sentence that contains two past actions or events; the earlier past action takes the past perfect tense, while the later past action takes the simple past tense. In this sentence, there is only one past event; therefore, the use of the past perfect tense is unnecessary and incorrect. Moreover, the active construction "had backed" distorts the meaning of the sentence. The original sentence indicated that the currency was backed by the fixed assets rather than, as is suggested here ("paper currency had . . . backed"), that the fixed assets were backed by the currency.
(E) This choice incorrectly uses the present perfect tense "has been backed." The present perfect form (indicated by the word "has" or "have") should only be used to indicate an action or event that started in the past and continues into or remains true in the present. Since, according to the sentence, paper currency is no longer backed by fixed assets, the use of the present perfect tense is inappropriate.
General Discussion
27 May 2017, 07:17
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hazelnut
Answer is definitely (A) , errors in the other options, highlighted in RED, above...
