PrepTest 138, Section 1, Question 18

AnalogyDifficulty1 of 5
Passage 3The Pin Factory, the Invisible Hand, and mathematical modeling
The questionFull text in your LawHub copy of PrepTest 138

David Warsh's book describes a great contradiction inherent(451 more words not shown)

It can be inferred from(23 more words not shown)

Reading the passage

What allowed the underground river to surface? The final paragraph tells us: economists finally described the Pin Factory with the rigor needed for respectability. Before that, recognizing increasing returns in real industries wasn't enough to get the idea into the mainstream. The decisive change was meeting the mathematical requirement.

Working the answers

  • A

    Scientific aspirations had existed throughout the period of neglect. That longstanding aspiration helps explain the demand for rigor; it isn't the new development that overcame the obstacle.

  • B

    Warsh's book describes the history, but the author doesn't credit his analysis with making the Pin Factory model acceptable. The final paragraph attributes that change to economists' successful modeling.

  • C
    Correct

    The model gained acceptance once economists could represent it rigorously. Without that success, the earlier reason for keeping it outside the mainstream would remain.

  • D

    No sudden rise in monopoly tendencies is identified as the turning point. Increasing returns already characterized enterprises such as railroads before the mathematical breakthrough.

  • E

    The standards weren't lowered. Economists found a way to satisfy the existing demand for rigor. Making the model meet a standard and relaxing the standard are different explanations.

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