The question of economic growth is thrown into further confusion by the methods used to measure it. Fundamentally, economics is myopic. It measures reality by its current market price. The intrinsic value of real things, their essential character which remains unchanged even when their price on the market fluctuates, is not an issue to the economist. He is like Oscar Wild's cynic. Options: A . &nbspSomeone who is consigned permanently to the present, spurring both the past and the future. B . &nbspSomeone who knows the price of everything and value of nothing. C . &nbspSomeone who basks in the glories of growth unmindful of the cost. D . &nbspSomeone, who worships price and assumes that 10% richer in monetary terms is 10% richer in happiness. E . &nbspThe infrequency of their interaction with other matter

The question of economic growth is thrown into further confusion by the methods

Question

The question of economic growth is thrown into further confusion by the methods used to measure it. Fundamentally, economics is myopic. It measures reality by its current market price. The intrinsic value of real things, their essential character which remains unchanged even when their price on the market fluctuates, is not an issue to the economist. He is like Oscar Wild's cynic.

Options:

A . Someone who is consigned permanently to the present, spurring both the past and the future.

B . Someone who knows the price of everything and value of nothing.

C . Someone who basks in the glories of growth unmindful of the cost.

D . Someone, who worships price and assumes that 10% richer in monetary terms is 10% richer in happiness.

E . The infrequency of their interaction with other matter

Answer: Option B
:
B
The most important words in the paragraph are "price” and "value”. Essentially, the author wants to convey that the economists fail to draw a relationship between the price and the value of real things. Option (a) can be eliminated because it is outside the scope of the passage. Options (c) and (d) do not fit in with the idea of a cynic and hence can be eliminated. Option (b) however, talks about the entire essence of the paragraph in brief and blends with the flow of the paragraph.
Therefore, option (b) is the correct answer choice.

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