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      Question

      Read the passage below and identify which of the

      following statements (I, II, and III) would weaken the assertion made. Select the correct combination from the options provided. Passage: Despite a sharp rise in the cost of living, the national economy appears to be remarkably resilient. Major retail chains have reported record-breaking revenue this quarter, and luxury travel bookings have reached an all-time high. This suggests that consumer purchasing power remains robust and that the average household has successfully buffered itself against inflationary pressures. Which of the following, if true, would weaken the argument made in the above passage? I. Recent data shows that household savings accounts have reached their lowest levels in a decade as consumers use their reserves to pay for basic necessities. II. A significant portion of the reported retail revenue growth is attributed to the increased prices of goods rather than an increase in the actual volume of items sold. III. Employment figures in the service sector have shown a steady increase, leading to a more competitive job market for entry-level workers.
      A Only I Correct Answer Incorrect Answer
      B Only II Correct Answer Incorrect Answer
      C Only I and II Correct Answer Incorrect Answer
      D Only II and III Correct Answer Incorrect Answer
      E All I, II, and III Correct Answer Incorrect Answer

      Solution

      Analysis of the Argument: The passage argues that the economy and consumer purchasing power are "robust" because revenue is up and luxury spending is high. To weaken this, we need to show that these high numbers don't actually reflect financial health or sustainability. Statement I follows: This weakens the argument by providing a "hidden cost." If people are draining their life savings just to survive, their purchasing power is not actually robust; they are simply exhausting their safety nets. This undermines the idea that households are "buffered" against inflation. Statement II follows: This weakens the argument by explaining the "record revenue" as a technicality. If revenue is higher only because prices are higher (while the number of items sold is flat or down), it suggests consumers are actually buying less, which contradicts the claim of a resilient economy. Statement III is incorrect: This describes an increase in employment and competitiveness. This would generally strengthen the idea of a resilient economy, or at least it doesn't provide evidence of weakness.

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