Rhee-wharton , Korean Economy, ?


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Paragraph of Grameen bank was taken from here. Copy pasted
http://www.usingenglish.com/comprehension/48.html

yeah that was

its not working

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Here it is from GMAT test

The relevance of formal economic models to
real-world policy has been a topic of some dispute.
The economists R. D. Norton and S. Y.
Rhee achieved some success in applying such a
model retrospectively to the Korean economy
over a fourteen-year period; the model’s figures
for output, prices, and other variables closely
matched real statistics. The model’s value in policy
terms, however, proved less clearcut. Norton
and Rhee performed simulations in which, keeping
long-term factors constant, they tried to pinpoint
the effect of short-term policy changes.
Their model indicated that rising prices for
imported oil would increase inflation; reducing
exports by five percent would lower Gross
Domestic Product and increase inflation; and
slowing the growth of the money supply would
result in slightly higher inflation.

These findings are somewhat startling.
Many economists have argued that reducing

http://gmatclub.com/forum/the-releva...icy-67348.html

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http://www.usingenglish.com/comprehension/48.html

Today's paragraph completion regarding a Bangladeshi banker.

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Lol. Shame on ibp

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Here is the link
http://gmatclub.com/forum/the-releva...icy-67348.html


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Please check the below link for copy paste exam of ibp... grameen bank asking by friends....lol...


http://www.usingenglish.com/comprehension/48.html

This was not a test but a joke and foul play with the future of candidates...

First thing, every time, in 100 marks paper, time is three hours not two,

Second, on question paper' instruction page, it was written, ONLY SIMPLE CALCULATOR is allowed. But they failed to mention the same on admit card. They have designed the paper according to the simple calculator usage and it was impossible to complete math portion within time.

So sad..... Pure wastage of time and energy along with money.....