Economic advisors in the early 1970s, witnessing rising unemployment alongside rising inflation, theorized that this combination represented a tempora...
GMAT Expression of Ideas : (Expression) Questions
Economic advisors in the early 1970s, witnessing rising unemployment alongside rising inflation, theorized that this combination represented a temporary market disruption that would self-correct through traditional monetary policy. _____ by the late 1970s, economists had developed entirely new models to explain what they termed 'stagflation.'
Which choice completes the text with the most logical transition?
For this reason,
In other words,
However,
Similarly,
Step 1: Decode and Map the Passage
Create Passage Analysis Table
| Text from Passage | Analysis |
|---|---|
| 'Economic advisors in the early 1970s, witnessing rising unemployment alongside rising inflation, theorized that this combination represented a temporary market disruption that would self-correct through traditional monetary policy.' |
|
| '[MISSING TRANSITION]' |
|
| 'by the late 1970s, economists had developed entirely new models to explain what they termed 'stagflation.'' |
|
Provide Passage Architecture & Core Elements
Main Point: Economic advisors' initial theory that inflation and unemployment would self-correct proved wrong, leading economists to develop new models for this phenomenon.
Argument Flow: The passage establishes an initial economic theory from the early 1970s, then shows how reality contradicted this theory, requiring economists to develop entirely new explanatory models by the late 1970s.
Step 2: Interpret the Question Precisely
This is a fill-in-the-blank question asking us to choose the best logical connector. The answer must create the right relationship between what comes before and after the blank.
Step 3: Prethink the Answer
- The logical relationship here is clear from our analysis. The first part presents an expectation - that the economic situation would self-correct through traditional policy. The second part shows what actually happened - economists had to create entirely new models instead. This represents a contrast between expectation and reality.
For this reason,
✗ Incorrect
- Suggests the second part is a logical consequence of the first, but developing new models wasn't because of the original theory.
In other words,
✗ Incorrect
- Suggests the second part is restating the first part, but developing new models is completely different from expecting self-correction.
However,
✓ Correct
- Signals contrast between the first and second parts. Perfectly captures that reality contradicted the initial expectation.
Similarly,
✗ Incorrect
- Suggests the second part follows the same pattern as the first, but there's no similarity between expecting traditional solutions and needing new approaches.