Aleph, let me know if I'm understanding your logic correctly, but if I am I think it's a point worth making publicly because I've seen this come up quite a bit.
I hear you saying that:
If x were 2, then y^2, in order to equal x^2 = 4, would have to also be 4. And then, by that logic, y would have to be -2 because, and here's where I think you may be going wrong, it cannot be (+) 2, because that value is already assigned to x. Am I right?
Please note that x and y, unless stated otherwise, could be the same. If x is 2, y could also be 2, because there is no statement prohibiting that. But this mistake is pretty common, as people seek order, and like the idea of each variable having its own number.
Unless the GMAT specifically states so, any variable can have any value, and therefore all variables could equal the same value.
For that not to be true, the test would have to stipulate that "x and y are unique integers" or "x does not = y". In this case, x and y must have the same absolute value, but they could go any form of:
-/+
-/-
+/+
+/-
Even when statement 2 is in the mix, we know that x must be positive, but those last two options are still in play, and so we still don't have enough information.
Brian Galvin
GMAT Instructor
Chief Academic Officer
Veritas Prep
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