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Wednesday, 13 June 2018

English Language For SBI Clerk | 13- 06 - 18

Mahendra Guru : Online Videos For Govt. Exams
English Language For SBI Clerk | 13- 06 - 18
Developing a solid foundation in English will not only help you to increase your knowledge but will also help you to score better in the exam. English is a major section in exams which candidate fears a lot. To boost your preparation, MahendraGuru is providing English Quiz for SBI Clerk, RBI Assistant, IBPS Clerk and IBPS SO Exams exams.
With Mahendra Guru, be the first to know the changes in Grammar which keep you updated through its Practice sets.These practice sets will give you power in building your bright career.

Q.1-10. Read the following passage carefully and answer the questions given below it. Certain words have been printed in bold to help you locate them while answering some questions. 

Leaders of the major advanced economy central banks—the US Federal Reserve, the European Central Bank, and the Bank of Japan—must feel like the characters in Sartre’s existentialist drama. The only difference is that they have committed the cardinal sin of going down the road of unconventional monetary policies (UMPs), and they have discovered, after the fact, that there is no exit possible. 

The former governor of the Reserve Bank of India (RBI), is having the last laugh, from his new (old) perch at the Booth School of Business at the University of Chicago. Readers of this column, and of this newspaper, will be aware that Rajan, during his tenure at the RBI, put forward, on numerous occasions, the provocative thesis that advanced economy UMPs, amounting to excessive monetary loosening, have created major distortions in the global financial system, and pose a systemic threat to the financial (and monetary) stability of emerging economies such as India. 

Most famously, Rajan made the case in a 214 speech at the Brookings Institution, a think tank in Washington, DC, in which he coined the term “competitive monetary easing” to refer to the phenomenon, suggesting a return to the world of beggar thy neighbour competitive devaluations that disfigured the inter-war years between the collapse of the classical gold standard and the creation of the Bretton Woods dollar-gold standard. 

If you go back and read (or watch) the speech, you will note that the difficulty of exit from UMPs was one of the systemic dangers to the global monetary order (or lack thereof) noted by Rajan. Recent news events have borne out his fears. Thus, we were treated to the unveiling of an ostensibly new form of monetary easing by the Bank of Japan, which involves setting a cap on 1-year bond yields and promising to overshoot its 2% inflation target. Markets were not impressed, as most analysts expected that these new measures would do little to buoy the Japanese economy. There is no exit in sight for the world of negative interest rates and fitful bouts of deflation in which Japan remains mired. 

Later the same day, in a sharply divided decision, the Fed voted to stay the course on interest rates, but hinted at the prospect of interest rate increases later this year, probably in December. More than a year after making a fitful and abortive attempt to raise short-term interest rates progressively back to normal levels, and away from the zero lower bound, the Fed is finding, as Rajan predicted, that it is much harder to exit from UMPs than it is to embrace them in the first instance. 

Q.1. What have the Leaders of the major advanced economy central banks committed? 

1. The sin of going up the road of uncontractual monetary policies (UMPs). 

2. The cardinal sin of going down the road of unconventional monetary policies (UMPs). 

3. The sin of going down the road of ultraconventional monetary policies (UMPs). 

4. The cardinal sin of going down the road of unconvinced monetary policies (UMPs). 

5. The sin of going down the road of unattended monetary policies (UMPs). 

Q.2. What have the provocative thesis that advanced economy UMPs, amounting to excessive monetary loosening, created? 

1. Major distortions in the national financial system. 

2. Minor distortions in the global financial system. 

3. Major equality in the global financial system. 

4. Major distortions in the global arithmetical system. 

5. Major distortions in the global financial system. 

Q.3. The difficulty of exit from UMPs was one of the systemic dangers to whom? 

1. The regional monetary order. 

2. The rural monetary order. 

3. The banking monetary order. 

4. The global money order. 

5. The global monetary order. 

Q.4. Which of the following statement is NOT TRUE according the passage? 

1. The US Federal Reserve, the European Central Bank, and the Bank of Japan—must feel like the characters in Sartre’s existentialist drama. 

2. The only difference is that the US Federal Reserve, the European Central Bank, and the Bank of Japan have committed the cardinal sin of going down the road of unconventional monetary policies (UMPs). 

3. The US Federal Reserve, the European Central Bank, and the Bank of Japan have discovered, after the fact, that there is no exit possible. 

4. The former governor of the Reserve Bank of India (RBI), is having the last laugh, from his new (old) perch at the Booth School of Business at the University of Chicago. 

5. The provocative thesis that advanced economy UMPs, amounting to excessive monetary loosening, have posed a systemic ease to the financial (and monetary) stability of emerging economies. 

Q.5. Which of the following statement is TRUE according the passage? 

1. In a sharply divided decision, the Fed did not vote to stay the course on interest rates. 

2. The Fed hinted at the prospect of interest rate decreases later in a given year. 

3. More than a year after making a fitful and abortive attempt to raise short-term interest rates progressively back to normal levels. 

4. The short term interest rates close to the zero lower bound, the Fed is finding. 

5. Mr. Rajan had predicted, that it is very easy to exit from UMPs than it is to embrace them in the first instance. 

Q.6. Choose the appropriate title for the above passage? 

1. No exit: unconventional monitor policies 

2. No exit: conventional monetary policies 

3. Exit: unconventional monetary policies 

4. Fire exit: unconventional monitor policies 

5. No exit: unconventional monetary policies 

Q.7. Choose the word which is most nearly the OPPOSITE in meaning as the word printed in bold as used in the passage. 

Embrace 

1. Accept 

2. Abhor 

3. Reject 

4. Welcome 

5. Approve 

Q.8. Choose the word which is most nearly the OPPOSITE in meaning as the word printed in bold as used in the passage. 

Disfigured 

1. Deform 

2. Distort 

3. Maim 

4. Mangle 

5. Beautify 

Q.9. Choose the word most SIMILAR in meaning to the word printed in bold, as used in the passage. 

Mired 

1. Entangled 

2. Excluded 

3. Released 

4. Liberated 

5. Free 

Q.10. Choose the word most SIMILAR in meaning to the word printed in bold, as used in the passage. 

Ostensibly 

1. Improbably 

2. Unlikely 

3. Obscurely 

4. Apparently 

5. Boldly 

ANSWERS 

Q.1. (2) 

Q.2. (5) 

Q.3. (5) 

Q.4. (3) 

Q.5. (3) 

Q.6. (5) 

Q.7. (3) 

Q.8. (5) 

Q.9. (1) 

Q.10. (4)

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