I have a doubt in blank (ii).
(1st half) There is a contrast between others who seek to expand the basic model and scientists who seek to fill more proofs of basic theorems.( I have reused the word basic).
However, the correct answer is improbable and I did not get any evidencre for the same.
Thanks.
I do agree that I made a mistake by choosing pervasive,as option A and C means the same. But still I do not see any evidence for improbable.
The blank (i) is about how there is clear evidence that these standard models are failing but still the economists are doing nothing , which surprises the author .
Now, for blank (ii) carries the same idea as blank (i) → So , it will be a -ve Idea as well.
And the clue for blank (ii) is given in a contrast of the last sentence which talks about “expanding model to embrace a wider range of things people do” —> Now, blank(ii) is the opposite of this idea so, my guess would be :- Hypothetical/ imaginative / implausible (if u wanna use a gre word!)
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I got your explanation. So here ‘basic’ has a negative connotation because of the word shortcomings.
Btw thanks for your explanation 
Also , you might wanna check Greg’s PowerPrep Walkthroughs https://new.gregmat.com/course/powerprep-walkthroughs
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Okk, i wasn’t aware of the powerprep walkthroughs.
I will do them for further assistance.