{"id":44950,"date":"2024-04-15T21:51:06","date_gmt":"2024-04-15T21:51:06","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=44950"},"modified":"2024-04-15T21:51:06","modified_gmt":"2024-04-15T21:51:06","slug":"directions-in-each-of-the-following-questions-a-statement-is-given-followed-by-two-conclusions-give-answer-statements-the-bank-of-englands-move-to-auction-25-metric-tons-of-gold-drew-plenty","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/directions-in-each-of-the-following-questions-a-statement-is-given-followed-by-two-conclusions-give-answer-statements-the-bank-of-englands-move-to-auction-25-metric-tons-of-gold-drew-plenty\/","title":{"rendered":"Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer : Statements : The Bank of England&#8217;s move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide. Conclusions : I. The Bank of England should not auction gold which it possesses to keep steady international prices of gold. II. Bidders should quote higher gold prices to retain present value of gold in the international markets."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a97fdfcc803c\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    Only conclusion I follows                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Only conclusion II follows                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    Either I or II follows                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Neither I nor II follows E. Both I and II follow                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: Only conclusion I follows.<\/p>\n<p>The Bank of England&#8217;s move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide. This suggests that the major gold producers believe that the Bank of England should not auction gold which it possesses to keep steady international prices of gold. <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> However, there is no evidence to suggest that bidders should quote higher gold prices to retain present value of gold in the international markets. In fact, it is possible that bidders are willing to pay a lower price for gold if they believe that the Bank of England is selling gold to raise cash.<\/p>\n<p>Here is a more detailed explanation of each option:<\/p>\n<ul>\n<li>Option A: Only conclusion I follows. This is the correct answer. The evidence suggests that the major gold producers believe that the Bank of England should not auction gold which it possesses to keep steady international prices of gold. However, there is no evidence to suggest that bidders should quote higher gold prices to retain present value of <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> gold in the international markets.<\/li>\n<li>Option B: Only conclusion II follows. This is not the correct answer. The evidence does not suggest that bidders should quote higher gold prices to retain present value of gold in the international markets.<\/li>\n<li>Option C: Either I or II follows. This is not the correct answer. The evidence does not support either conclusion.<\/li>\n<li>Option D: Neither I nor II follows. This is the correct answer. The evidence does not support either conclusion.<\/li>\n<li>Option E: Both I and II follow. This is not the correct answer. The evidence does not support both conclusions.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[722],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer : Statements : The Bank of England&#039;s move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide. Conclusions : I. The Bank of England should not auction gold which it possesses to keep steady international prices of gold. II. Bidders should quote higher gold prices to retain present value of gold in the international markets.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/directions-in-each-of-the-following-questions-a-statement-is-given-followed-by-two-conclusions-give-answer-statements-the-bank-of-englands-move-to-auction-25-metric-tons-of-gold-drew-plenty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer : Statements : The Bank of England&#039;s move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide. Conclusions : I. 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Give answer : Statements : The Bank of England's move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide. Conclusions : I. The Bank of England should not auction gold which it possesses to keep steady international prices of gold. II. Bidders should quote higher gold prices to retain present value of gold in the international markets.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/directions-in-each-of-the-following-questions-a-statement-is-given-followed-by-two-conclusions-give-answer-statements-the-bank-of-englands-move-to-auction-25-metric-tons-of-gold-drew-plenty\/","og_locale":"en_US","og_type":"article","og_title":"Directions : In each of the following questions a statement is given, followed by two conclusions. 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Give answer : Statements : The Bank of England&#8217;s move to auction 25 metric tons of gold drew plenty of bidders looking for a bargain, but was criticised by major gold producers worldwide. Conclusions : I. The Bank of England should not auction gold which it possesses to keep steady international prices of gold. II. 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