Understanding the argument-
Economist: Although prices of most precious metals have greatly increased in nominal terms (i.e., before adjustment for inflation) over the past century, the inflation-adjusted prices have actually been falling. - Say we are in 2024, and this background info talks about the data in the past century that shows a falling trend, say from 1901 to 2000.
Since the price of a commodity generally decreases when supply grows relative to demand, and since demand for precious metals has been growing, the supply of these metals on the market must be currently growing. - The premises share a general relationship, which we are familiar with, but the conclusion talks about "current," say 2024. The missing piece is the price of the most precious metals currently.
Which of the following, if true, would most weaken the economist's argument?
A. Mining precious metals to put them on the market continuously lowers reserves in the earth. - out of scope.
B. Over
...
Economist: Although prices of most precious metals have greatly increased in nominal terms (i.e., before adjustment for inflation) over the past century, the inflation-adjusted prices have actually been falling. - Say we are in 2024, and this background info talks about the data in the past century that shows a falling trend, say from 1901 to 2000.
Since the price of a commodity generally decreases when supply grows relative to demand, and since demand for precious metals has been growing, the supply of these metals on the market must be currently growing. - The premises share a general relationship, which we are familiar with, but the conclusion talks about "current," say 2024. The missing piece is the price of the most precious metals currently.
Which of the following, if true, would most weaken the economist's argument?
A. Mining precious metals to put them on the market continuously lowers reserves in the earth. - out of scope.
B. Over
...
Statistics : Posted by Raman109 • on 21 Feb 2024, 03:17 • Replies 3 • Views 2433
