TESTfunda - CAT Question of the Day 08-Apr-14

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Testfunda
08-Apr-14
CAT Question of the Day
Answer the question based on the passage given below.

Intuitively, a business that uses slaves should be profitable. You pay your workers nothing, and reap the benefits of their labour. Robert Fogel and Stanley Engerman suggested that slavery in the American South was a lucrative enterprise for plantation owners. They reckoned that slaves were treated pretty well. And this meant that they were productive. So for the owners, slavery was generally a highly profitable investment, which yielded rates of return, that compared favourably with the most outstanding investment opportunities in manufacturing. However, economies, which used slavery, may, in the long run, have been at a disadvantage. According to Eric Williams, although slavery stifled Caribbean economic growth, it encouraged global commodity circulation—a major precondition for the British industrialization in the late eighteenth century. He also thought that slave profits were important to financing the infrastructure projects, like railways, that powered the industrial revolution. Of course any account of the economic effect of slavery should note the effect of treating human beings as capital equipment. The direct impact on the utility of the slaves themselves of this condition represented a terrible economic cost. And there was also an opportunity cost to the broader economy, which lost out on the potential human capital and entrepreneurial contributions slaves might have made as free workers.
 
Which of the following is the main idea of the passage?

OPTIONS
 
 1)
Whatever the benefit of slavery to slave-owners, the abolition of slavery made much better economic sense.
 2)
Though slavery made economic sense, stopping involuntary servitude was a moral as well as economic imperative.
 3)
Intuitively, though slavery was a lucrative enterprise, it hindered the development of Southern capitalism in many ways.
 4)
While individual businesses might have done well out of the slave trade, the effect of slavery on wider economic development was negative.
Tip of the Day
Statements that have non-quantifiable words like beauty, strength, failure etc. are classified as judgments since these parameters cannot be measured and hence are beyond the scope of being stated as facts or being drawn as inferences.
Last year's Question of the day (07-Apr-13)
For a particular infection, patients are prescribed medicines out of three available medicines P, Q and R. The numbers of patients taking only one medicine out of the three form a Pythagorean triplet. Those taking only two also form a Pythagorean triplet. Both of these triplets, if fitted in a right triangle would give the same in-radii for both the triangles. The number of patients taking Q and R only is a multiple of the number of patients taking P only and the number of patients taking Q only is a multiple of the number of patients taking P and R only. The number of patients taking all the three medicines is less than the number of patients taking P only by four. If the triplets are involving the smallest integers possible and if the number of patients taking only one medicine is more than those taking only two medicines , what is the total number of patients taking medicine R?
OPTIONS
 
 1)30
 2)20
 3)31
 4)22
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