PrepTest 23, Section 2, Question 25
Economist: No economic system that is centrally planned can efficiently allocate resources, and efficient allocation of resources is a necessary condition for achieving a national debt of less than 5 percent of Gross Domestic Product (GDP). It follows that any nation with a centrally planned economy has a national debt that is at least 5 percent of GDP.
Economist: No economic system that is centrally planned can efficiently allocate resources, and efficient allocation of resources is a necessary condition for achieving a national debt of less than 5 percent of Gross Domestic Product (GDP). It follows that any nation with a centrally planned economy has a national debt that is at least 5 percent of GDP.
Economist: No economic system that is centrally planned can efficiently allocate resources, and efficient allocation of resources is a necessary condition for achieving a national debt of less than 5 percent of Gross Domestic Product (GDP). It follows that any nation with a centrally planned economy has a national debt that is at least 5 percent of GDP.
Economist: No economic system that is centrally planned can efficiently allocate resources, and efficient allocation of resources is a necessary condition for achieving a national debt of less than 5 percent of Gross Domestic Product (GDP). It follows that any nation with a centrally planned economy has a national debt that is at least 5 percent of GDP.
The pattern of reasoning exhibited by the economist's argument is most similar to that exhibited by which one of the following?
Not all mammals are without wings, because bats are mammals and bats have wings.
All of the rural districts are free of major air pollution problems because such problems occur only where there is a large concentration of automobiles, and there are no such places in the rural districts.
All of the ungulates are herbivores, and most herbivores would not attack a human being. It follows that any animal that would attack a human being is unlikely to be an ungulate.
All rock stars who are famous have their own record companies, and all rock stars with their own record companies receive company profits over and above their regular royalties. This implies that receiving large regular royalties is a necessary condition of being a famous rock star.
Every mutual fund manager knows someone who trades on inside information, and no one who trades on inside information is unknown to every mutual fund manager. One must conclude that no mutual fund manager is unknown to everyone who trades on inside information.
Explanations
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