Re: Microeconomist: Usually, the relationship between the price of a good
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19 May 2021, 00:59
(A) This answer choice incorrectly states that the first portion supports rather than weighs against that economist’s prediction. In addition, this answer choice incorrectly states that the second portion in boldface represents the economist’s prediction rather than the evidence supporting that prediction.
(B) This answer choice correctly describes the role of the first portion but mistakenly states that the second part in boldface follows from this generalization. The second statement in boldface presents evidence that supports the opposite effect from that described in the first portion. Specifically, the economist claims that the price increase will increase rather than reduce the consumption of basic foods.
(C) CORRECT. This answer choice correctly identifies the role of each of the two parts in boldface. The first part represents the generalization that is typically accurate but will not be repeated in the case at issue. The second portion presents evidence in support of the economist’s prediction.
(D) This answer choice correctly describes the role of the first statement but incorrectly states that the second statement represents the conclusion rather than evidence supporting that conclusion. Remember, the conclusion of the economist is that the price increase will increase rather than reduce the demand for basic foods on the part of the low-income households.
(E) This answer choice incorrectly states that the first statement will be repeated in the case at issue. Remember, the economist argues that the usual pattern will not hold this time. The second statement is correctly described as acknowledging a circumstance in which the usual pattern will not hold.