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24 Sep 2024, 01:30
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
78% (01:29) correct
22%
(01:43)
wrong
based on 241
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In economics, a "Veblen good" is an item which people buy in greater quantity when the price goes up. According to the Law of Supply and Demand, when the price of an ordinary item goes up, demand drops, i.e. people buy fewer of them. A Veblen good is a luxury item to which status is attached, such as a designer outfit or luxury car. As the price of such an item increases, its prestige increases, which makes the item that much more desirable. Therefore, as the price increases, the demand also increases, and more of these items are sold.
In the argument, the two portions in boldface play which of the following roles?
A. This first is a piece of evidence supporting the main conclusion; the second is the main conclusion.
B. The first is a view that the author opposes; the second is the main conclusion.
C. The first is a prediction; the second gives evidence of for this prediction.
D. The first is a general rule, the violation of which seems to indicate a paradox; the second is the resolution of that apparent paradox.
E. The first is an ironic description of what could happen in the marketplace; the second is a more realistic description of what actually happens.
In the argument, the two portions in boldface play which of the following roles?
A. This first is a piece of evidence supporting the main conclusion; the second is the main conclusion.
B. The first is a view that the author opposes; the second is the main conclusion.
C. The first is a prediction; the second gives evidence of for this prediction.
D. The first is a general rule, the violation of which seems to indicate a paradox; the second is the resolution of that apparent paradox.
E. The first is an ironic description of what could happen in the marketplace; the second is a more realistic description of what actually happens.
This is a CR Butler Question
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Check the links to other Butler Projects:
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24 Sep 2024, 02:57
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(A) Incorrect. The first bolded portion isn't evidence but a general economic rule. The second bolded portion isn't really the main conclusion but the description of how Veblen goods defy that rule.
(B) Incorrect. The author does not oppose the first statement. It is a general rule in economics that is true for most goods. The author is simply presenting an exception with Veblen goods.
(C) Incorrect. The first is a general rule, not a prediction. The second bolded part is not providing evidence but describing how Veblen goods behave differently.
(D) Correct. The first statement is a general rule of economics, and Veblen goods appear to violate this rule, creating a seeming paradox. The second statement resolves this by explaining how Veblen goods behave differently.
(E) Incorrect. There is no irony in the first statement. It's a factual rule of economics for most goods, not a hypothetical or ironic scenario.
Answer D.
(B) Incorrect. The author does not oppose the first statement. It is a general rule in economics that is true for most goods. The author is simply presenting an exception with Veblen goods.
(C) Incorrect. The first is a general rule, not a prediction. The second bolded part is not providing evidence but describing how Veblen goods behave differently.
(D) Correct. The first statement is a general rule of economics, and Veblen goods appear to violate this rule, creating a seeming paradox. The second statement resolves this by explaining how Veblen goods behave differently.
(E) Incorrect. There is no irony in the first statement. It's a factual rule of economics for most goods, not a hypothetical or ironic scenario.
Answer D.
24 Sep 2024, 05:07
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Hey, is it possible to have have more details for the second boldface, for it's a supporting conlusing supporting the first sentence and concluing the sentence just before the second boldface.
Krunaal
