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# What has happened to the economy of Singapore in the last fifty years?

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Re: What has happened to the economy of Singapore in the last fifty years? [#permalink]
Official Explanation

2. Based on the passage, steps currently undertaken by Singapore’s Economic Development Board are most likely to include

Difficulty Level: Hard

Choice (D), which names an incentive for boosting productivity, is the best answer because the passage ends with the EDB’s goal of providing business incentives for increased productivity.

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Re: What has happened to the economy of Singapore in the last fifty years? [#permalink]

I find option B and option E are equally likely.

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Re: What has happened to the economy of Singapore in the last fifty years? [#permalink]

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Re: What has happened to the economy of Singapore in the last fifty years? [#permalink]
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imSKR wrote:

I find option B and option E are equally likely.

2. Based on the passage, steps currently undertaken by Singapore’s Economic Development Board are most likely to include

(A) the creation of innovative and higher value products and services.
(B) an internal restructuring process meant to keep pace with the changing times.
(C) strategies to make certain failing manufacturing industries, such as electronics, become more viable.
(D) business credits for companies that invest in automation or other productivity boosting measures.
(E) the closure of companies that continue to hire a large percentage of low wage workers.

This is what the passage tells us about steps taken by EDB:

Swift, forward looking changes driven by the EDB to stimulate R&D activities and shift economic focus with the changing times have resulted in a highly trained and agile workforce.
(This is what EDB did and it has resulted in trained and agile workforce)

With a high percentage of skilled workers ..., the ranks of the unskilled are increasingly filled by foreigners which keeps income low for them... The EDB ... is decreasing the influx of foreign workers and providing incentives for increased productivity and higher wages for low skilled workers

EDB is trying to reduce foreign influx of low skilled workers and providing incentives to increase productivity and increase wages of low skilled workers. So EDB is giving incentives to make the same person produce 2x in the same time. Fewer low skill people will be needed and they will be paid more.

Of all the options, only (D) gives us a measure related to this.
(D) business credits for companies that invest in automation or other productivity boosting measures.
Incentive for companies that invest in increasing productivity.

(B) an internal restructuring process meant to keep pace with the changing times.

(E) the closure of companies that continue to hire a large percentage of low wage workers.

Not mentioned that EDB is doing this. EDB is trying to reduce low skilled workers by giving incentives to companies to increase productivity.

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Re: What has happened to the economy of Singapore in the last fifty years? [#permalink]
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1. According to the passage, Singapore’s Economic Development Board is responsible for all of the following changes EXCEPT:

(A) occasional contraction of the economy. Correct. The contraction of the economy was a response to financial crises and not because of EDB.
(B) a highly educated, agile workforce. Incorrect. EDB efforts are the reason.
(C) a shift from industrial activities to R&D activities. Incorrect. EDB efforts are the reason.
(D) occasional policies that control the influx of foreign workers. Incorrect. The EDB, however, is responding with its magic wand: by decreasing the influx of foreign workers
(E) changing economic focuses over the decades. Incorrect .The results of the decade-by-decade planning and successes on https://www.edg.gov.sg are hard to argue.

2. Based on the passage, steps currently undertaken by Singapore’s Economic Development Board are most likely to include

(A) the creation of innovative and higher value products and services. Incorrect. The value of quality of products not discussed in the passage.
(B) an internal restructuring process meant to keep pace with the changing times. Incorrect. No internal restructuring process discussed in the passage.
(C) strategies to make certain failing manufacturing industries, such as electronics, become more viable. Incorrect. No specific industries discussed in the passage.
(D) business credits for companies that invest in automation or other productivity boosting measures. Correct. It is suggested by the statement in the last paragraph "The EDB, however, is responding with its magic wand: by decreasing the influx of foreign workers and providing incentives for increased productivity and higher wages for low skilled workers"
(E) the closure of companies that continue to hire a large percentage of low wage workers. Incorrect. The author does not mention or discuss the closure of any companies.

3. The author develops the central idea of the passage primarily by

(A) diminishing Singapore’s economic successes by couching them in the extended analogy of a fairy tale. Incorrect. The author not only criticizes but also lists the achievements of Singapore.
(B) contrasting the past successes of Singapore’s Economic Development Board with today’s challenges. Incorrect. The author's tone does not reflect contrast of two periods.
(C) highlighting significant accomplishments, listing challenges, and ending with optimism. Correct. The passage flows exactly as per this option.
(D) recounting the historic changes wrought by Singapore’s Economic Development Board. Incorrect. Partial scope. This option does not include the future plans and expected successes.
(E) critically examining both the serious economic and social challenges that Singapore now faces. Incorrect. The author does not mention only challenges but also speaks of achievements and plans.

24. In the last paragraph, the author implies that

(A) the “magic” power of the EDB has run out. Incorrect. The magic power EDB still works as per last para.
(B) the EDB may solve yet another fundamental challenge to growth. Correct. "it seeks to create yet another magical transformation." the last line of passage is exactly saying this.
(C) the economic fate of Singapore is largely not under its own control. Incorrect. There is no such reaction of author.
(D) all fairy tales must one day come to an end—happy or unhappy. Incorrect. The author does not intend this at all.
(E) an unraveling is occurring over what the EDB has no control. Incorrect. The passage does not suggest this at all.
Re: What has happened to the economy of Singapore in the last fifty years? [#permalink]
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