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Can we really use data to overcome the left/right ideological divide and identify policies that, as Bjørn Lomborg puts it, “would have the biggest impact on society?” Lomborg is a leading advocate of cost-benefit analysis (CBA) as the best way to choose between policy options. He is not alone in this belief, though he is _________[1] extraordinarily extreme in his faith in CBA.
Lomborg is the Director of the Copenhagen _________[2] Consensus Center (CCC), and both there and in his regular commentaries, including for Project Syndicate, he reports on the results of CBA to recommend development priorities. Over the years, Lomborg has hired more than 300 economists, including seven Nobel laureates, to carry out these economic _________[3] inspirations. Unfortunately, these – indeed, all – CBA results are _________[4] ummixed with the ideology of those funding and conducting them – and thus offer very limited information for public policy choice.
CBA, and its common use in studies of the rate of return on investment, _________[5] originated in the United States in the 1930s to assess water resource projects. But, while the general methodology has become part of _________[6] heterodox economics, it is mostly confined to academic research. Institutions like the World Bank use it to make decisions, but governments rarely do (and most often to offer a post hoc _________[7] ambiguity for some policy choice).
The fundamental problem is that these types of economic analyses are so loosely specified in practice that the result is almost always full of analyst bias. _________[8] doubtedly, CBA provides a misleading basis even for _________[9] prioritizing policies within a sector. One well-known example is that, starting in the 1980s, CBA was used to argue that the returns on primary education were much higher than the returns on higher education. The World Bank went around the world encouraging or requiring governments to cut subsidies for universities and _________[10] abbreviate those for primary schooling.
- 1) perhaps
2) imperceivable
3) hermetic
4) covert
5) No correction required.Answer – 1)
Explanation: perhaps – used to express uncertainty or possibility. - 1) bickering
2) implausibly
3) squabbling
4) discordant
5) No correction required.Answer – 5)
Explanation: No correction required.
Given word is correct hence, no replacement required. - 1) conflicting
2) disagreement
3) inessentiality
4) evaluations
5) No correction required.Answer – 4)
Explanation: evaluations – the making of a judgement about the amount, number, or value of something; assessment. - 1) inharmonious
2) fighting
3) obscure
4) infused
5) No correction required.Answer – 4)
Explanation: infused – fill; pervade. - 1) differing
2) abstruse3) masked4) cloaked
5) No correction required.Answer – 5)
Explanation: No correction required.
Given word is correct hence, no replacement required. - 1) clandestine
2) hermetical
3) esoteric
4) orthodox
5) No correction required.Answer – 4)
Explanation: orthodox – following or conforming to the traditional or generally accepted rules or beliefs of a religion, philosophy, or practice. - 1) eclipsed
2) concealed
3) occult
4) rationale
5) No correction required.Answer – 4)
Explanation: rationale – a set of reasons or a logical basis for a course of action or belief. - 1) latent
2) indiscernible
3) Indeed
4) mystic
5) No correction required.Answer – 3)
Explanation: Indeed – used to emphasize a statement or response confirming something already suggested. - 1) cryptic
2) clouded
3) worthlessness
4) contract
5) No correction required.Answer – 5)
Explanation: No correction required.
Given word is correct hence, no replacement required. - 1) triviality
2) disguised
3) mysterious
4) expand
5) No correction required.Answer – 4)
Explanation: expand – become or make larger or more extensive.
