Comprehension

’Instead of being concerned with what actually happens in practice .... (economics) is increasingly preoccupied with developing pseudo-mathematical formulas. These provide models of behavior which never quite fit what actually happens, in a way which resembles the physical sciences gone wrong: instead of equations describing reality, economics produces equations describing ideal conditions and theoretical clarity of a type which never occurs in practice’. 

Question: 1

Which of the following best summarizes the argument of this paragraph?

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Focus on the author’s key criticism. Summaries must reflect the central point, not just one aspect or a side remark.
Updated On: Aug 11, 2025
  • Economics ought to be more like the physical sciences.
  • Theoretical clarity is undesirable in economics.
  • The physical sciences are wrong to emphasise mathematic formulae.
  • The mathematical equations used by economists do not accurately describe the real world.
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The Correct Option is D

Solution and Explanation

The passage criticizes economics for becoming overly theoretical and for relying on mathematical models that describe ideal conditions, which do not reflect the real world. It states that these models “never quite fit what actually happens.” This directly implies that such models **fail to accurately represent reality**, making (d) the best summary. - (a) is incorrect because the author criticizes economics for mimicking the physical sciences. - (b) is too broad and emotional — the passage doesn't claim theoretical clarity is always bad. - (c) is incorrect because the criticism is aimed at economics, not physics. % Final Answer \[ \boxed{\text{(d)}} \]
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Question: 2

Which of the following claims is not implied in the paragraph above?

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Watch for extreme language like “stop using...” when the passage only suggests a qualified} criticism.
Updated On: Aug 11, 2025
  • Economists should stop using mathematical models.
  • Equations describing ideal conditions should not be mistaken for equations describing reality.
  • Theoretical clarity should not come at the expense of accuracy.
  • Models of human behavior should be true to the complexity of human nature.
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The Correct Option is A

Solution and Explanation

The paragraph criticizes the misuse or overuse of mathematical models — not their existence. It never says that economists should stop using them altogether. Thus, (a) is not implied. Other options are implied: - (b): The paragraph states models shouldn't misrepresent real situations. - (c): It contrasts clarity with real-world accuracy. - (d): It argues for better representation of human behavior, indirectly supporting this claim. % Final Answer \[ \boxed{\text{(a)}} \]
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Question: 3

Which of the following, if true, would most weaken the argument of the passage above?

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To weaken an argument, look for statements that negate the key assumption or evidence}.
Updated On: Aug 11, 2025
  • The physical sciences are themselves reducing their reliance on mathematical formulae.
  • The real world in fact closely approximates ideal theoretical conditions.
  • We do not at present have the mathematical expertise to model the full complexity of the world economy.
  • Academic economists need to be more sensitive to human nature.
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The Correct Option is B

Solution and Explanation

The author argues that economic models fail because they assume ideal conditions that don’t occur in reality. If it were shown that real conditions are close to ideal, the author's main argument would collapse. Hence, (b) directly weakens the passage’s claim. - (a) supports the criticism. - (c) offers a limitation but doesn't directly counter the main argument. - (d) actually supports the idea that economists should focus more on human realities. % Final Answer \[ \boxed{\text{(b)}} \]
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