If economist are so smart, why ain’t they rich?
After I wrote a newsletter last month on how economists’ views differ from those of ordinary people, I got emails to the effect of, “If economists are so smart, why ain’t they rich?” I’m not an economist, so the question doesn’t
1. Economists aren’t trying to be rich. A lot of economists go to work for institutions of government and higher education. You don’t go to work for such employers because you
2. Economists are too good at economics. Learning a little economics is useful for a lot of
3. Economists aren’t actually smart. I don’t
4. Economists are
5. Economists do think they can beat the market, but they’re wrong. A great
Warren Buffett, despite earning a master of science degree in economics from Columbia University in 1951, told a CNBC interviewer in 2016, “I don’t pay any attention to what economists say, frankly.” He is
A.benefit | B.annoy | C.amaze | D.sacrifice |
A.therefore | B.moreover | C.though | D.instead |
A.aspire | B.object | C.contribute | D.appeal |
A.challenge | B.knowledge | C.imagination | D.money |
A.profitable | B.academic | C.professional | D.competitive |
A.merit | B.opportunity | C.mistake | D.shortage |
A.oppose | B.convince | C.buy | D.confront |
A.short-sighted | B.well-rounded | C.under-educated | D.narrow-minded |
A.prospects | B.allowance | C.expertise | D.weaknesses |
A.inspired | B.restrained | C.overwhelmed | D.fueled |
A.bother | B.overlook | C.initiate | D.withdraw |
A.bans | B.distinguishes | C.isolates | D.discourages |
A.obstacle | B.example | C.highlight | D.consequence |
A.overtook rivals | B.went bankrupt | C.reaped rewards | D.was launched |
A.sophisticated | B.false | C.biased | D.right |
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A.Next | B.Also | C.Therefore | D.Alike |
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A.justifiable | B.pointless | C.subjective | D.ridiculous |
A.on the whole | B.in conclusion | C.as a result | D.on the contrary |
A.airline | B.manufacturing | C.service | D.advertising |
A.tempt | B.reason | C.trick | D.guide |
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A.optimistic | B.objective | C.defensive | D.passive |
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A.functioning | B.stimulating | C.enriching | D.mastering |
A.fixed | B.concentrated | C.paralleled | D.instructed |
A.transformation | B.substitute | C.cycle | D.condition |
A.role | B.pleasure | C.an interest | D.part |
A.poisonous | B.rewarding | C.ignorant | D.frustrating |
A.objection | B.distinction | C.principle | D.standard |
A.apply | B.devote | C.adjust | D.expose |
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A.feature | B.control | C.advantage | D.sympathy |
A.security | B.jealousy | C.reward | D.contribution |
A.Unexpectedly | B.Fortunately | C.Typically | D.Obviously |
A.cultivated | B.extended | C.influenced | D.bridged |
A.Otherwise | B.Therefore | C.Furthermore | D.Instead |
A.advocated | B.suspended | C.discouraged | D.observed |
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A.terrorists | B.thieves | C.teenagers | D.passers-by |
A.refused | B.tried | C.managed | D.decided |
A.twisted | B.beat | C.tied | D.burned |
A.fighters | B.attackers | C.students | D.criminals |
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A.gathered | B.managed | C.eaten | D.counted |
A.taken part in | B.taken notice of | C.known about | D.carried out |
A.strange | B.interesting | C.valuable | D.difficult |
A.change | B.acquire | C.learn | D.reduce |
A.happier | B.healthier | C.clearer | D.simpler |
A.discovered | B.tracked | C.released | D.built |
A.exchange | B.search | C.process | D.record |
A.identify | B.increase | C.decrease | D.choose |
A.Particularly | B.Similarly | C.Surprisingly | D.Generally |
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A.movement | B.subject | C.term | D.equipment |
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A.guarantee | B.expect | C.conclude | D.prove |
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A.depend on | B.interact with | C.fight against | D.stay away |
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A.in particular | B.in reality | C.at least | D.first of all |
A.emphasize | B.doubt | C.overlook | D.believe |
A.denying | B.ensuring | C.arguing | D.proving |
A.Moving | B.Hoping | C.Starting | D.Failing |
A.markets | B.tastes | C.prices | D.expenses |
A.culture | B.social | C.financial | D.economical |
A.promise | B.plan | C.mistake | D.difference |
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A.as a result | B.on the whole | C.in conclusion | D.on the contrary |
A.huge | B.potential | C.extra | D.reasonable |
A.beliefs | B.loyalty | C.habits | D.interest |
A.altering | B.understanding | C.keeping | D.attracting |
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A.unfair | B.difficult | C.essential | D.convenient |
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A.factories | B.restaurants | C.schools | D.farms |
A.brilliant | B.uncertain | C.unique | D.influential |
A.so | B.because of | C.in spite of | D.while |
A.application | B.change | C.variety | D.gap |
A.generated | B.wasted | C.assumed | D.lost |
A.suitable | B.possible | C.valuable | D.profitable |
A.along | B.alone | C.around | D.apart |
A.transport | B.registration | C.food | D.construction |
A.recycling | B.packaging | C.developing | D.purchasing |
A.alive with | B.neighbours with | C.charged with | D.delighted with |
A.am used to | B.used to | C.have used to | D.had used to |
A.related to | B.reminded of | C.supposed to | D.surrounded by |
A.Instead | B.What’s more | C.Therefore | D.However |
A.think about | B.break up | C.care about | D.care for |
A.need | B.require | C.refer | D.matter |
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A.established | B.cautious | C.curious | D.annoying |
A.aim-oriented | B.addicted | C.excited | D.well-informed |
A.collect | B.relay | C.forecast | D.distribute |
A.friendly to | B.experienced in | C.short of | D.responsible for |
A.outside | B.right | C.online | D.free |
A.By contrast | B.For instance | C.To sum up | D.In turn |
A.edge | B.role | C.cut | D.price |
A.money | B.calls | C.complaints | D.movement |
A.trade | B.generous | C.mean | D.cash |
A.break | B.division | C.blow | D.rise |
A.Moreover | B.Therefore | C.However | D.Consequently |
A.advertising | B.delivery | C.insurance | D.productivity |
A.harder | B.quicker | C.easier | D.slower |
A.doubled | B.last | C.mounted | D.fell |
A.taking advantage of | B.going along with | C.looking out for | D.putting up with |