While no one questions the value of a quality education, economists, p

Question

While no one questions the value of a quality education, economists, politicians, and, increasingly, educators themselves are seeking tools to analyze the actual relationship between education spending and its benefits. One such tool is cost-benefit analysis, a system long-used by economists to offer an economic appraisal of different investment choices. Cost-benefit analysis is effective because it acknowledges the limited nature of resources and facilitates a logical metric for prioritizing education spending.

Developing countries in particular must view education as an investment in human capital; redirecting the potential labor of teachers and older students into the classroom rather than into the workforce must have a payout in future economic gains to justify the current economic costs. The governments of such countries must ensure that their especially limited finances are invested in those areas that will yield the highest economic long-term gains, and cost-benefit analysis can help determine how to most lucratively proportion those resources among infrastructure, agricultural development, social programs, and, of course, education. Although developed countries may have more resources, cost-benefit analysis is still vital for making expenditure decisions.  Costly proposals such as lowering class sizes, raising teacher salaries, and investing in dropout-prevention programs  would all undoubtedly be advantageous, but an objective analysis of the actual costs and benefits of each proposal would enable comparison and ensure that funds are apportioned to yield the highest overall benefits.

Still, some educators have been hesitant to adopt cost-benefit analysis, rightly pointing out that the human benefits of education cannot be distilled to a mere financial value. Most economists concede that determining what constitutes a cost and a benefit can be difficult to determine or quantify, and they further acknowledge the complex nature of education that precludes a pure dollars-and-cents approach. Lowering  infant and maternal mortality rates  as education improves for women in developing countries, for instance, is a benefit of education that is undeniable and not financially quantifiable. Nonetheless, despite the imperfections of the current system, cost-benefit analysis is an indispensable tool for analyzing the significant economic benefits that education does bring to society in a world of scarce resources.    1 
 1. The main purpose of the passage is to

A. argue that education is a form of economic investment in human capital
B. explain cost-benefit analysis as a method to solve educational and economic problems
C. assert that cost-benefit analysis is an effective means for examining the economic value of education
D. provide support for the argument that education cannot be viewed from a purely financial standpoint
E. discuss different opinions about the nature and magnitude of educational benefits

2 
 2. Which of the following statements could be inferred from the first paragraph?

I. Some economists and politicians think society has invested too many resources in education.
II. Education cannot be justified unless it produces economic benefits.
III. The concept of cost-benefit analysis can be applied to fields besides economics.

A. I Only
B. II Only
C. III Only
D. I and II Only
E. II and III Only

3 
 3. The reference to “costly proposals such as lowering class sizes, raising teacher salaries, and investing in dropout-prevention programs” in the second paragraph serves to

A. provide scenarios in which cost-benefit analysis would be advantageous
B. reinforce the prior definition of education through offering concrete examples
C. demonstrate how education cost-benefit analysis serves different functions in developed countries than in developing countries
D. introduce the discussion of deficiencies of education cost-benefit analysis in the next paragraph
E. illustrate the magnitude of problems educators today are facing

4 
 4. The author mentions “infant and maternal mortality rates”  (Highlighted)  in order to

A. support the notion that educational goals should be varied and their effectiveness measured by more than one method
B. provide examples of non-economic benefits that are not easily conveyed by the cost-benefit analysis method
C. praise the progress that cost-benefit analysis methods have brought to the field of education
D. praise the non-economic benefits that education has brought to society independent of the use of cost-benefit analysis
E. warn readers of possible societal dangers that could result from over-reliance on cost-benefit analysis

5 
 5. With which of the following statements is the author NOT likely to agree?

A. Economists and politicians are interested in knowing the contribution education makes to future economic growth
B. There is no consensus among educators over the suitability of cost-benefit analysis for the field of education.
C. Cost-benefit analysis in education may have a tendency to de-emphasize the importance of non-economic aspects of education.
D. Cost-benefit analysis must be replaced by a system that can incorporate the non-quantifiable benefits of education.
E. Education decision-makers should make wise use of the limited resources available to education.

RC Butler 2023  -  Practice Two RC Passages Everyday.   
Passage # 294 Date: 24 Aug-2023
 This question is part of RC Butler 2023 .  Click here for Details

ThatIndianGuy · Answer

Hello, Please post Explanation for Q2?

Sajjad1994 · Answer

Official Explanation

2. Which of the following statements could be inferred from the first paragraph?

Explanation

Analyze the question stem

The keyword  "inferred"  identifies this as an Inference question.

Research

Review the passage map and think through the first paragraph's relationship to the author's purpose.

Make a prediction

While you can't make precise predictions for Inference questions without content clues, have the general information from the first paragraph in mind: different groups want tools to analyze spending in education, and cost-benefit analysis is an economic tool that could be used. The paragraph concludes with an explanation of why cost-benefit analysis in education is effective. Proceed to the choices and eliminate any that are not supported by the first paragraph.

Evaluate the answer choices

Only  (C)  is supported by the passage and is correct. The author refers to cost-benefit analysis as  “a system long-used by economists to offer an economic appraisal of different investment choices.”  Thus, such analysis does not necessarily apply exclusively to the field of economics, but rather it offers an  “economic appraisal”  of choices. Since the author claims that cost-benefit analysis would be  “effective”  in education, it is reasonable to infer that the analysis could be applied to other fields as well.

(A)  is incorrect because it is a distortion. The author states that economists and politicians are  “seeking tools to analyze”  education costs, not that these individuals think society has spent too much on education.

(B)  is incorrect because it distorts the passage. The paragraph discusses using cost-benefit analysis to evaluate education’s costs and benefits, but the author never suggests that education is not justified if it does not result in economic benefits.

TAKEAWAY:  Make sure any answer you pick to an Inference question is supported by text in the passage

Answer: C

YB114 · Answer

@sajjad1994 Please check reasoning is correct ?

In question 4 :
Confused between B and E, but marked B

Reasoning Behind it :
As per the location, author tone is Neutral not positive and praise is a positive Tone word

"not financially quantifiable." it means not easily conveyed by the cost-benefit analysis method - same given in option B

Sajjad1994 · Answer

Official Explanation

4. The author mentions “infant and maternal mortality rates” (Highlighted) in order to

Explanation

Analyze the question stem

The keywords  "in order to"  identify this as a Logic question.

Research

The reference to  “infant and maternal mortality rates”  is found in the third sentence of the last paragraph. Review the passage map and note the relationship of this paragraph to the author's purpose. Then re-read that section of the paragraph.

Make a prediction

According to the map, the first part of the paragraph discusses the idea that educators are hesitant to adopt cost-benefit analysis because education’s benefits are not all quantifiable. The sentence immediately before the one that mentions mortality rates states that economists  “acknowledge the complex nature of education that precludes a pure dollars-and-cents approach.”  The sentence that mentions mortality rates includes the phrase  “for instance,”  so predict that the rates are an example of the complexities of education that are  “not financially quantifiable.”

Evaluate the answer choices

(B)  matches the prediction precisely and is correct.

(A)  is not mentioned in the passage and is incorrect. The passage does not discuss the setting of educational goals, but rather how to prioritize spending on education.

(C)  is a distortion, as the author never attributes the lowering of mortality rates to the use of cost-benefit analysis. Rather, the rates are an example of a benefit that might be difficult 
 to quantify with cost-benefit analysis.

(D)  is a misuse of a detail. The author certainly appreciates the lowering of mortality rates but is not seeking to praise such benefits, but to evaluate cost-benefit analysis.

(E)  is extreme and is incorrect. The author never  "warns"  the readers of a potential societal danger, but rather advocates the use of cost-benefit analysis even it is not perfect.

TAKEAWAY:  When a context clue sends you to a specific part of the passage, read a line or two above and below the clue to accurately and efficiently predict the purpose of that feature of the passage.

Answer: B

Gauravv002 · Answer

how much would you rate this passage

While no one questions the value of a quality education, economists, p

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While no one questions the value of a quality education, economists, p

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615 to 715 in 15 Days (Ria's Strategies)

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