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While new census data reveal that unemployment numbers are even direr

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While new census data reveal that unemployment numbers are even direr [#permalink]

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New post 29 Nov 2017, 05:20
Question 1
00:00
A
B
C
D
E

Question Stats:

71% (01:20) correct 29% (02:19) wrong based on 28

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While new census data reveal that unemployment numbers are even direr than was previously suspected, it is not clear that the forecast for American entrepreneurship is equally alarming. An article in a major national newspaper suggests that the contraction in hiring at existing companies might result in the founding of more new companies. College graduates, unable to find traditional jobs, instead opt to start their own businesses. Whereas a recession may seem an unpropitious time for such a historically risky endeavor, with no better options, would-be entrepreneurs have little to lose. Unfortunately, this situation does not necessarily impact the economy positively. Though the average number of new businesses started per year has been higher during the recession than it was before, the proportion of high-value businesses founded each year has declined, while the proportion of low-value businesses has increased. So even if a business manages to stay solvent, it may not bring significant returns. Also, because of an inevitable dearth of outside "angel" investors and venture capitalists willing to bankroll startups, many new entrepreneurs are putting their own money on the line. In certain ways, the choice between accepting a traditional job and starting a business is not unlike the choice between renting and buying property. The latter requires a significant initial outlay and carries heavier risks, but the rewards can be equally substantial.

[Reveal] Spoiler:
C

1. The primary purpose of the passage is to

(A) propose changes in the way the public generally interprets census data
(B) maintain that college students should form their own companies, especially during economic recessions
(C) present a nuanced view of a contemporary economic issue
(D) evaluate the viability of low- versus high-value businesses under various environmental conditions
(E) draw an analogy between career decisions and real-estate decisions, specifically the choice to rent or buy property

[Reveal] Spoiler: Question #1 OA

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Re: While new census data reveal that unemployment numbers are even direr [#permalink]

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New post 29 Nov 2017, 05:30
hazelnut wrote:
While new census data reveal that unemployment numbers are even direr than was previously suspected, it is not clear that the forecast for American entrepreneurship is equally alarming. An article in a major national newspaper suggests that the contraction in hiring at existing companies might result in the founding of more new companies. College graduates, unable to find traditional jobs, instead opt to start their own businesses. Whereas a recession may seem an unpropitious time for such a historically risky endeavor, with no better options, would-be entrepreneurs have little to lose. Unfortunately, this situation does not necessarily impact the economy positively. Though the average number of new businesses started per year has been higher during the recession than it was before, the proportion of high-value businesses founded each year has declined, while the proportion of low-value businesses has increased. So even if a business manages to stay solvent, it may not bring significant returns. Also, because of an inevitable dearth of outside "angel" investors and venture capitalists willing to bankroll startups, many new entrepreneurs are putting their own money on the line. In certain ways, the choice between accepting a traditional job and starting a business is not unlike the choice between renting and buying property. The latter requires a significant initial outlay and carries heavier risks, but the rewards can be equally substantial.
[Reveal] Spoiler:
C

1. The primary purpose of the passage is to

(A) propose changes in the way the public generally interprets census data
(B) maintain that college students should form their own companies, especially during economic recessions
(C) present a nuanced view of a contemporary economic issue
(D) evaluate the viability of low- versus high-value businesses under various environmental conditions
(E) draw an analogy between career decisions and real-estate decisions, specifically the choice to rent or buy property



OFFICIAL EXPLANATION



This question focuses on the main idea of the passage. The reading constantly flips back and forth, taking one side at first, then another on the forecast for American entrepreneurship. The author is careful to present his or her arguments fairly and with some reservations (e.g., it is not clear that..., suggests that..., may seem..., does not necessarily..., it may not bring..., can be...). Ultimately, the view is balanced.

(A) Census data provide the source of the author's first observation, but the author is not specifically proposing a new interpretation of those data, let alone for such an interpretation to be generally adopted by the public. Yes, the census data reveal that unemployment numbers are even direr than was previously suspected, and yes, the author states that the forecast for American entrepreneurship may not be equally alarming. However, it is a stretch to say that the author is proposing that the data are themselves to be interpreted differently. (By the way, the word data is technically plural; the GMAT doesn't seem to test this fact, but you should not be thrown by a passage that reads new census data reveal rather than reveals, as would be typical in speech.)

(B) The author never argues that any group of college students should (or should not) form their own companies. If anything, the author offers both sides of the issue, leaving it up to individuals to decide.

(C) CORRECT. The contemporary economic issue is the forecast for American entrepreneurship, which is the focus of the passage. The author presents a nuanced view of this issue.

(D) The author offers one fact about the varying rates at which businesses of two types (low-value and high-value) are founded. However, the author never evaluates the viability (or likelihood of success) of these types.

(E) The analogy drawn in the last two sentences is not the main point of the passage; it is a final observation, one that sheds light on the issue, but the making of this particular analogy is not the primary purpose for which the passage was written.

The correct answer is C.
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"Each stage of the journey is crucial to attaining new heights of knowledge."

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Re: While new census data reveal that unemployment numbers are even direr [#permalink]

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New post 29 Nov 2017, 05:31
3.25 minutes-correct.
Do you have more questions on this RC?
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Re: While new census data reveal that unemployment numbers are even direr   [#permalink] 29 Nov 2017, 05:31
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