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English Quiz for RBI Assistant Mains:
Improve your English with English quiz. English Quiz to help you improve your score for exams like Bank, SSC, Railway, UPSC, UPSSSC, CDS, UPTET, KVS, DSSSB and other Government exams.
Directions (1-5):Read the passage carefully and answer the questions given below it. Certain words/ phrases have been given in bold to help you locate them while answering some of the questions.
In many underdeveloped countries, the state plays an important and increasingly varied role in economic development today. There are four general arguments, all of them related, for state participation in economic development. First, the entrance requirements in terms of financial and capital equipment are very large in industries, and the size of these obstacles will serve as barriers to entry on the part of private investors. One can imagine that these obstacles are imposing in industries such as steel production, automobiles, electronics, and parts of the textiles industry. In addition, there are what Myint calls “technical indivisibilities in social overhead capital.” Public utilities, transport, and communication facilities must be in place before industrial development can occur, and they do not lend themselves to small-scale improvements. A related argument centres on the demand side of the economy. This economy is seen as fragmented, disconnected, and incapable of using inputs from other parts of the economy. Consequently, economic activity in one part of the economy does not generate the dynamism in other sectors that is expected in more cohesive economies. Industrialization necessarily involves many different, sectors; economic enterprises will thrive best in an environment in which they draw on inputs from related economic sectors and, in turn, release their own goods for industrial utilization within their own economies. A third argument concerns the low-level equilibrium trap in which less developed countries find themselves. At subsistence levels, societies consume exactly what they produce. There is no remaining surplus for reinvestment. As per-capita income rises, however, the additional income will not be used for saving and investment. Instead, it will have the effect of increasing the population that will eat up the surplus and force the society to its former subsistence position. Fortunately, after a certain point, the rate of population growth will decrease; economic growth will intersect with and eventually outstrip population growth. The private sector, however, will not be able to provide the one-shot large dose of capital to push economic growth beyond those levels where population increases eat up the incremental advances. The final argument concerns the relationship between delayed development and the state. Countries wishing to industrialize today have more competitors, and these competitors occupy a more differentiated industrial terrain than previously. This means that the available niches in the international system are more limited. For today’s industrializers, therefore, the process of industrialization cannot be a haphazard affair, not can the pace, content, and direction be left, solely to market forces. Part of the reason for strong state presence, then, relates specifically to the competitive international environment in which modern countries and firms must operate
Q1. What does the author suggest about the “technical indivisibilities in social overhead capital”?
(a) It is a barrier to private investment
(b) It enhances the development effects of private sector investment
(c) It leads to rapid technological progress
(d) It can prevent development from occurring
(e) None of the above
Q2. According to the passage, the “low-level equilibrium trap” in underdeveloped countries results from
(a) the inability of market forces to overcome the effects of population growth
(b) intervention of the state in economic development
(c) the tendency for societies to produce more than they can use
(d) the fragmented and disconnected nature of the demand side of the economy.
(e) None of the above
Q3. According to the author, a strong state presence is necessary
(a) to provide food for everyone
(b) to provide the capital needed to spur economic growth
(c) to ensure the livelihood of workers
(d) to ensure that people have more than what is necessary for subsistence
(e) None of the above
Q4. In the passage, the world ‘cohesive’ means
(a) containing many cohorts or groups
(b) modern and competitive
(c) naturally and logically connected
(d) containing many different sectors
(e) None of the above
Q5. In the passage, the word ‘imposing’ means
(a) to force on someone
(b) something that strikes a pose
(c) something that obtrudes on others
(d) to act with a delusive effect
(e) None of the above
Directions (6 – 10): Read each sentence to find out whether there is any grammatical or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is ‘No error’, the answer is (e). (Ignore errors punctuation, if any.)
Q6. Parents are often unaware of the dangers (a)/ of social networking sites (b)/ and how to put private lives online (c)/ can seriously harm a youngsters’ emotional life. (d)/ No error (e)
Q7. Lalu’s sentence has sent a clear and loud message (a)/ to one and all that no one – however powerful (b)/ he may be – is above the law (c)/ and everyone will have to atone for their sins. (d)/ No error (e)
Q8. Corrupt officials and construction mafia continue to (a)/ jeopardise the lives of thousand of residents (b)/ in the country by constructing illegal buildings (c)/ that flout safety regulations. (d)/ No error (e)
Q9. We need to look at (a)/ the pros and cons (b)/ of foreign investment (c)/ in each sector. (d)/ No error (e)
Q10. We wish to place in the public domain (a)/ all facts and figures available with (b)/ the government, initiate a debate and take decision which (c)/ are the best for the country. (d)/ No error (e)
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