PrepTest 137, Section 1, Question 22
Can a sovereign have unlimited legal power?(461 more words not shown)
Based on the passage, which(33 more words not shown)
- Awhether most members(10 more words not shown)
- Bwhether Parliament can(8 more words not shown)
- Cwhen the most(5 more words not shown)
- Dhow many new(8 more words not shown)
- Ewhether the Crown's(6 more words not shown)
Reading the passage
Why did the Crown become a better lending prospect after the revolution? Parliament controlled its finances and represented commercial interests that would not tolerate disregard for property rights. A creditor considering a low rate would therefore care whether that protection could be relied on.
What we’re looking for
The issue is the incentive and ability to make the Crown honor its commitments. Knowing the name of the paradox, holding an election, or passing many laws doesn't establish that protection.
Working the answers
- A
Understanding the paradox isn't the mechanism that reassures lenders. Parliament needs to protect the relevant interests, whether or not its members know the philosophical label.
- BCorrect
Dependable representation of commercial interests gives lenders a reason to expect that Parliament will prevent the Crown from disregarding financial commitments. This is the connection the author gives between the new arrangement and lower interest rates.
- C
The timing of the latest election isn't connected to repayment in this account. We aren't given a reason that a more recent election makes the loan safer.
- D
The number of new laws doesn't tell us whether property rights or repayment will be protected. Quantity of legislation isn't the relevant safeguard.
- E
A lender might consider a borrower's debts in real life, but the question asks us to use this explanation of the change. Increased borrowing is presented as a result of greater confidence. It doesn't establish whether Parliament will continue to supply the protection that justifies that confidence.
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