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OG Verbal Review #42

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by karmayogi » Sat Jan 24, 2009 8:22 am
Unlike a funded pension system, in which contributions are invested to pay future beneficiaries, a pay-as-you-go approach is the foundation of Social Security.

A)
B) the foundation of Social Security is a pay-as-you-go approach
C) the approach of Social Security is a pay-as-you-go
D) Social Security's approach is pay-as-you-go
E) Social Security is founded on a pay-as-you-go approach

OA E
My doubt:[spoiler] Why "a pay-as-you-go approach" is not parallel to "a funded pension system?"[/spoiler]
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by welcome » Sat Jan 24, 2009 9:14 am
It is changing the meaning of the given statement.
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by karmayogi » Sat Jan 24, 2009 9:37 am
welcome wrote:It is changing the meaning of the given statement.
The rule of thumb is if grammatically both option A and any other option are correct and difference is only in meaning then always select option A. As per your argument and above rule, we should select A.
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by keepsmilinyaar » Sat Jan 24, 2009 10:04 am
pay-as-you-go approach cannot be compared to the funded pension system as the latter is not an appraoch.
however, the social security can be compared to the funded pension system as they both are concepts rather than approaches.
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by karmayogi » Sat Jan 24, 2009 10:14 am
keepsmilinyaar wrote:pay-as-you-go approach cannot be compared to the funded pension system as the latter is not an appraoch.
however, the social security can be compared to the funded pension system as they both are concepts rather than approaches.
Exactly this is what is given in OG, and this is the bone of contention. I am unable to understand, what's the difference between an approach and a system? Why Social Security is a system? Is it some kinda common terminology, which I am unaware of, in US or Europe or even in Asia?
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by keepsmilinyaar » Sat Jan 24, 2009 10:20 am
To be honest, I wouldnt personally focus on this particular questions contents.

However, Social security is a concept in the US and UK.
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by karmayogi » Sat Jan 24, 2009 10:42 am
keepsmilinyaar wrote:To be honest, I wouldnt personally focus on this particular questions contents.

However, Social security is a concept in the US and UK.
I concur with you. There is no point in over analysing this point. Thanks for your response.

Rest can still try if they have a better explanation.
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by aroon7 » Sat Jan 24, 2009 11:16 am
karmayogi wrote:
keepsmilinyaar wrote:pay-as-you-go approach cannot be compared to the funded pension system as the latter is not an appraoch.
however, the social security can be compared to the funded pension system as they both are concepts rather than approaches.
Exactly this is what is given in OG, and this is the bone of contention. I am unable to understand, what's the difference between an approach and a system? Why Social Security is a system? Is it some kinda common terminology, which I am unaware of, in US or Europe or even in Asia?
X follows approach A
Y follows approach B
so we should compare X with Y and not with B
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by piyush_nitt » Sun Jan 25, 2009 12:31 am
karmayogi wrote:
keepsmilinyaar wrote:pay-as-you-go approach cannot be compared to the funded pension system as the latter is not an appraoch.
however, the social security can be compared to the funded pension system as they both are concepts rather than approaches.
Exactly this is what is given in OG, and this is the bone of contention. I am unable to understand, what's the difference between an approach and a system? Why Social Security is a system? Is it some kinda common terminology, which I am unaware of, in US or Europe or even in Asia?
This might help you !

https://en.wikipedia.org/wiki/Social_security_number
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by nervesofsteel » Sun Jan 25, 2009 12:48 am
B) the foundation of Social Security is a pay-as-you-go approach
C) the approach of Social Security is a pay-as-you-go
D) Social Security's approach is pay-as-you-go
E) Social Security is founded on a pay-as-you-go approach

Social security is a system which is compared with another system...
pay - as- you go is an approach implied by Social security system...
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