Question

Which one of the following best captures the main argument of the last paragraph of the passage?

• A. The aftermath of the crisis will strengthen the central ideology of individualism in the Western world.
• B. Whoever you are, you would be crazy to think that there is no crisis.
• C. In the decades to come, other ideologies will emerge in the aftermath of the crisis.
• D. The ideology of individualism must be set aside in order to deal with the crisis.
• A. The author has witnessed many economic crises by travelling a lot for two years.
• B. The author’s preoccupation with the economic crisis is not less than two years old.
• C. The author is preoccupied with the economic crisis because he is being followed.
• D. The economic crisis outlasted the author’s preoccupation with it.
• A. The economic crisis was not a failure of collective action to rectify economic problems.
• B. Most people are yet to gain any real understanding of the workings of the financial world.
• C. The huge gap between science and the arts has steadily narrowed over time.
• D. The global economic crisis lasted for more than two years.
• A. The failure of economic systems does not necessarily mean the failure of their ideologies.
• B. The story of the economic crisis is also one about international relations, global financial security, and mass psychology.
• C. The difficulty with understanding financial matters is that they have become so arcane.
• D. Economic crises could be averted by changing prevailing ideologies and beliefs.
• A. An educational curriculum that promotes developing financial literacy in the masses.
• B. The complete nationalisation of all financial institutions.
• C. An educational curriculum that promotes economic research.
• D. Economic policies that are more sensitively calibrated to the fluctuations of the market.

Answer 1

The Correct Option is D

The line expresses the major point of the previous paragraph.
"after decades in which the ideology of the Western world was personally and economically individualistic, we’ve suddenly been hit by a crisis which shows in the starkest terms that whether we like it or not—and there are large parts of it that you would have to be crazy to like—we’re all in this together"
The correct answer is (D): The ideology of individualism must be set aside in order to deal with the crisis.

Answer 2

We can infer from the passage's first statement that the author has been tracking the economic crisis for at least two years, if not longer.
The correct answer is (B): The author’s preoccupation with the economic crisis is not less than two years old.

Answer 3

We can tell that the author has been following the economic crisis for more than two years based on the opening phrase of the text. The writer expressly claims that he is "not sure the idea of a huge gap between science and the arts is as true as it was half a century ago". Also, according to the author "many bright, literate people have no idea about all sorts of economic basics".Therefore, if true, options B, C, and D support the author's arguments.
Alternatively, the author claims that the crisis resulted from."the sluggishness of the world’s governments" not getting ready for autumn 2008's big unraveling. The assertion that the economic crisis was not caused by a failure of group efforts to address economic issues contradicts the author's perspective. Thus, even if option A is accurate, it contradicts what the author says.

Answer 4

The author calls the crisis "absolutely amazing story, full of human interest and drama, one whose byways of mathematics, economics, and psychology are both central to the story". 
Therefore, Option B makes sense in light of the passage's reasoning. 
Additionally, the writer says that "there is a need to narrow that gap, if the financial industry is not to be a kind of priesthood, administering to its own mysteries and feared and resented by the rest of us" Put another way, financial issues have grown incredibly complex and esoteric. Therefore, option C backs up the claims made in the passage. 
The author stated that in order to prevent a worldwide financial catastrophe, expanding the legislation to regulate hazardous investment vehicles was crucial while starting to address the problem. Option D also makes sense in light of the passage's reasoning.
Nonetheless, the author claims in the final paragraph that the economic crisis demonstrates the fallacy of the Western world's economically and personally individualistic ideology. Therefore, if option A is accurate, it refutes the claims made in the paragraph.
Therefore the correct answer is (A): The failure of economic systems does not necessarily mean the failure of their ideologies.

Answer 5

The author bemoans the reality that many intelligent, well-read people are ignorant of a wide range of economic fundamentals. Therefore, it is possible that he will be in favor of curricula that encourage the general public to become financially literate. 

Keep in mind that option C is false because it refers to "research" in economics. 
The correct answer is (A): An educational curriculum that promotes developing financial literacy in the masses.