Question
In each question below is given a statement followed by two conclusions numbered I and II. You have to assume everything in the statement to be true, then consider the two conclusions together and decide which of them logically follows beyond a reasonable doubt from the information given in the statement.
Give answer:
- (A) If only conclusion I follows
- (B) If only conclusion II follows
- (C) If either I or II follows
- (D) If neither I nor II follows and
- (E) If both I and II follow.
Statements: The Bank of England's move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide.
Conclusions:
- The Bank of England should not auction gold which it possesses to keep steady international prices of gold.
- Bidders should quote higher gold prices to retain present value of gold in the international markets.
Answer: Option D
The statement does not talk against the auction but only speaks of the response it received from the bidders and gold producers. So, I does not follow. The phrase 'plenty of bidders looking for a bargain' is quite contrary to II. So, II also does not follow.
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The statement does not talk against the auction but only speaks of the response it received from the bidders and gold producers. So, I does not follow. The phrase 'plenty of bidders looking for a bargain' is quite contrary to II. So, II also does not follow.
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