Reading comp PrepTest 157 · Section 4 · Question 9

Passage

Passage A  Markets, such as stock exchanges, distill the collective wisdom of millions of individuals into a single number, and Remaining source text redacted.
Passage walkthrough
Passage Summary Topic:
Social Science

Passage A
Paragraph 1
  • Paragraph note
    • Author: Efficiency of markets
  • Views, minor Meta-Structures, points of intersection, and the author's attitude
    • Comparison: Efficiency of markets (requires "hard dollars," rewards people who are "right") vs. committees/polls (doesn't require dollars, rewards loudest/most prestigious)
    • Author's attitude: "amazing efficiency" (first sentence)
Paragraph 2
  • Paragraph note
    • of "forecast market"
  • Views, minor Meta-Structures, points of intersection, and the author's attitude
    • Example: Iowa Electronic Market (second through last sentence)
Paragraph 3
  • Paragraph note
    • Support: Market's efficiency
  • Views, minor Meta-Structures, points of intersection, and the author's attitude
    • Definition: Efficiency: Market learns what informed people know (first sentence)
    • Example: Experiment with fictional stock and "insiders" (second through last sentence)
    • Author's attitude: "lightning fast and very accurately" (first sentence)


Passage B
Paragraph 1
  • Paragraph note
    • Author: Markets not perfect
  • Views, minor Meta-Structures, points of intersection, and the author's attitude
    • Author's attitude: "not infallible" (first sentence), "get over it" (last sentence)
Paragraph 2
  • Paragraph note
    • Support: Iowa Electronic Market's inaccuracy
  • Views, minor Meta-Structures, points of intersection, and the author's attitude
    • Undermines Passage A, second paragraph
Paragraph 3
  • Paragraph note
    • Comparison to horseracing
  • Views, minor Meta-Structures, points of intersection, and the author's attitude
    • Comparison: Lower price of stock = greater odds for horse
Paragraph 4
  • Paragraph note
    • Author's correction: Prediction polls simply reflect majority opinion at a given time
  • Views, minor Meta-Structures, points of intersection, and the author's attitude
    • Similarity to passage A: Similar definition of "forecast" market from the second paragraph
    • Similarity to passage A: claims that "entrance fees" of markets is an advantage over polls like passage A's author did in the first paragraph
    • Author's attitude: "merely reflect" (first sentence), "does not imbue them with any special omniscience" (second sentence), "more serious responses," "just as potentially wrong" (third sentence)


Main Points?
Passage A: Markets, including prediction markets, reflect the collective knowledge of many investors with remarkable efficiency.

Passage B: Markets, including prediction markets, are not inherently reliable; instead, they merely reflect the majority opinion at any given time.

Key Lines?
Passage A: Paragraph 1, Sentence 2 (P1, S1) - Author's attitude toward markets
P1, S2 - Contrast to committees and polls
P2, S2 - Example of a reliable forecast market
P2, S5 - Illustration of efficiency
P2, S2 - Reason
P3, S1 - Another reason

Passage B: P1, S1 - Author's attitude toward markets
P2, S1 - Example of unreliable forecast market
P3, S1 - Comparison
P4, S2 - Author's explanation of markets' function

Meta-Structure? Relationship Between Passages?
Relationship - Opposing Viewpoints: The authors of these two passages have opposing viewpoints. The author of passage A places a lot of ... ahem ... stock into markets, particularly in their efficiency and accurate forecasting. In contrast, the author of passage B does not believe markets are inherently trustworthy or accurate predictors, instead claiming that they merely reflect the majority opinion at a given time. Even so, there are a few moments in which these authors find common ground. Both think forecast/prediction markets reflect what the market as a whole believes (PA, P2, S6; PB, P2, S2), and both think the requirement that you invest money into a market makes markets at least slightly more reliable than polls (PA, P1, S2; PB, P4, S4).

Example (Both): Both passages bring up an example — the same example, in fact — to prove a minor point. In passage A, the author cites the accuracy of the Iowa Electronic Markets to illustrate the reliability of markets, as opposed to polls (PA, P2, S2). In passage B, the author cites a recent election in which the Iowa Electronic Markets' forecast was inaccurate for nearly a year to illustrate how markets are not infallible (PB, P2). Since the same example is used in both passages — and both are used to support each passage's main point — we should expect at least one question about them.

Comparison (Both): Both passages compare markets to polls. And both claim that markets are at least somewhat more reliable than polls, as markets require people to back up their opinions with money (PA, P1, S2; PB, P4, S4). This is a point on which the authors agree, in passages in which they mostly disagree, so we should expect a question on this as well.

Last Thoughts?
This is a quintessential Opposing Viewpoint passage, so expect several questions about the authors’ disagreement, and at least one question about a point of agreement.

Question prompt

The purpose of passage Remaining source text redacted.
Why the credited answer is right

Credited answer: E

The notes below walk through why it fits the stem and how to eliminate the rest.

Question Type

Social Science

Answer choices

  1. A
    persuade and inform
    Why choice A is not credited
    "Persuade" and "inform" are not contrasting descriptions we'd expect from a passage with an Opposing Viewpoints Meta-Structure. Moreover, "inform" as a purpose suggests the author is taking a passive role in the passage — that the author just wants to convey facts, not opinions. That's a poor description of passage B, which definitely wants to convince us that markets aren't as reliable or predictive as many believe.
  2. B
    challenge and defend
    Why choice B is not credited
    "Challenge" and "defend" are antonymic, at least. However, the author of passage A isn't challenging the use of markets in any way. According to passage B's characterization (PB, P1, S2), passage A asserts the conventional view on markets. And passage B's author is definitely not attempting to "defend" markets. So while these two words do reflect the opposing viewpoints, it gets the words backward. Remember, we were looking for an answer choice in which the first word connotes a positive view and the second word connotes a skeptical one.
  3. C
    present and interpret
    Why choice C is not credited
    "Present" and "interpret" are not contrasting descriptions we'd expect from a passage with an Opposing Viewpoints Meta-Structure. Moreover, "present" as a purpose suggests the author is taking a passive role — that the author just wants to convey facts, not opinions. That's a poor description of passage A's author, who definitely wants to convince us that markets are very reliable and efficient.
  4. D
    entertain and educate
    Why choice D is not credited
    "Entertain" and "educate" are not exactly the contrasting descriptions we'd expect from a passage with an Opposing Viewpoints Meta-Structure. Moreover, "entertain" as a purpose is a poor description of passage A. There's very little use of humor, analogy, or anecdote that might get used in a passage that wants to entertain. ("Entertain" might be a more apt description of passage B, which uses several offbeat comparisons and word choices — like "get over it," "nag," and "random spoofing." Still, the primary purpose is to convey doubt about the reliability of markets, not to entertain the reader.)
  5. E
    advocate and deflate
    Why choice E matches the stem
    Question Type:
    Major Point/Method of Reasoning

    Strategy Overview:
    Review the main point and any primary Meta-Structures, then find an answer that best captures the latter with the details from the former

    Answer Anticipation:
    A question about the passage's "purpose" asks us to select the answer choice that describes why the author wrote the passage. The correct answer will describe an action: what the author hoped to do in the passage, and how the author accomplished that.

    Now, in a broad sense, every author hopes to convince us that the main point is true. However, different authors employ different means to convince us of that main point. That's why the passage's Meta-Structure can be revealing: it helps us predetermine how this specific author was attempting to convey the main point.

    This question asks us to contrast the passage's purposes, so we should look at the Meta-Structure that describes the relationship between these two passages. As discussed in the Meta-Structures section above, these two passages feature opposing viewpoints. So we should look for an answer choice that describes two contrasting purposes. Moreover, passage A was pro-markets, while passage B took a more skeptical stance, so we should look for an answer choice that reflects those views. Therefore — note the question stem's use of "respectively," which means "in the order given" — the first word should connote a positive view, while the second word should connect a skeptical view.

    Answer Choice Explanation:
    "Advocate" and "deflate" are the contrasting descriptions we'd expect from a passage with an Opposing Viewpoints Meta-Structure. Plus, "advocate" connotes a positive view about markets — passage A's author definitely wants to advocate for the reliability and efficiency of markets — and "deflate" connotes a skeptical view — passage B's author intends to deflate economists' beliefs about the reliability of markets. This matches our prediction, and it is correct.

    Key Takeaway:
    When distilling the passage's purpose to just one word, don't forget the basics! Think about whether the author is taking an active role in arguing the main point (in which case, words like "assert," "persuade," and "argue" are apt), or a passive one (in which case, words like "present," "describe," and "outline" are appropriate). If the author is active, think about whether the author is taking a positive view on the subject (which would support words like "advocate," "defend," and "insist"), or a negative one (which would support words like "challenge," "undermine," or "criticize"). These two criteria are generally enough to find the correct description.

What this tests

Question analytics

Based on historical answer selection rates for this question.

Answer choice distribution

  1. A 11%
  2. B 5%
  3. C 12%
  4. D 3%
  5. E Credited 69%

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