Based on the structural contrast and continuation signals in the passage below, fill in the blank with the word that best completes the context.
Cevap:While nineteenth-century financial commentators widely held that market panics were purely irrational phenomena driven by mass delusion, monetary theorist Walter Bagehot posited that such crises were, on the contrary, entirely 【rational】; they unfolded not as arbitrary surges of panic, but as a logical reaction to systemic liquidity shortages.
Cevap
rational (or acceptable synonyms such as logical, intelligible, or comprehensible)
The sentence relies on dual structural signals: a concessive contrast setup ('While nineteenth-century financial commentators widely held that market panics were purely irrational...') combined with the pivot phrase 'on the contrary'. This indicates that Bagehot's view directly opposes the idea of panics being 'irrational'. Furthermore, the clause following the colon elaborates on this point by characterizing panics as a 'logical reaction'. Thus, the word completing the blank must mean rational, logical, or intelligible.
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Anahtar Kavram
Deciphering Meaning via Structural Clues and Contrast/Continuation Signals
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