Dear Readers,
As IBPS has released the official notification of the Common Recruitment Process for RRBs (CRP RRBs VII) for recruitment of Group “A”-Officers (Scale-I, II And III) and Group “B”-Office Assistant (Multipurpose) and the exam is going to be held in the month of August 2018 and September 2018 for both the posts. Looking at the notification, we have now started subject-wise quizzes for the exam. It will include quizzes of all the subjects- Quantitative Aptitude, English, Reasoning and Computer. All these quizzes will be strictly based on the latest pattern of the IBPS RRB exam and will be beneficial for your preparations. So, keep following the quizzes which will provide you a set of 10 questions daily.
Here, we are providing you important questions of English Language for IBPS RRB 2018 exam.
Q1-7. Read the following passage carefully and answer the questions given below it.
That there is something supremely banal and dangerous about populism is fairly well recognized. The cruelties of society are identified, enemies are named and simple solutions are presented. In the age of Trump, Brexit and Jeremy, much ink has been spent on analysing these aspects. Though protectionism and a hatred for the “neoliberal elite” is a common theme, there is a wide variety of economic proposals being thrown about. While the Brexiteers believe in a mythical red-tape-cutting fairy, for the socialist Corbynistas there is nothing that cannot be fixed by nationalization and public investment financed by printing money—so-called People’s Quantitative Easing. Amid all this, the British economy has already started to show early signs of turning into an emerging market, complete with the trinity of populism, a currency crisis and a balance of payments headache.
In their seminal study of macroeconomics of Chilean and Peruvian populism in the early 1970s and late 1980s, respectively, identified the typical economic cycle of populist expansion. The initial phase of populism is typically characterized by strong growth in output, wages and jobs— as would happen in the short term after any stimulus according to a standard macroeconomic model. While a standard model would also predict inflation, good old price controls, imports and inventory depletion are generally enough to deal with it for the time being.
Then the bottlenecks and capacity constraints start to bite. Price controls mean supply does not respond to increased demand, while a lack of foreign exchange for imports and inventories starts to bite.
An underground economy comes up to get around price controls. The government gets desperate and starts raising prices and/or devalues the currency. Wages are also raised to preserve real incomes. The fiscal deficit balloons to pay for the wage hikes and subsidies.
Confidence falls and people start panicking. Not only does international capital starts to exit, but those with the means start taking their savings out of the country. Since the local currency and prices are divorced from reality, people start quoting prices in dollars or simply start bartering. With the economy in free fall, government revenues also vanish, making the fiscal deficit unsustainable.
When the moment of truth arrives, the government is forced to scale back subsidies, jack up prices and depreciate the currency. By this time, the revolutionary fervour has all but evaporated—there will always be some loyal children of the revolution who would never see the light—and society descends into a chaos.
Anyone with one eye on the headlines coming out of Venezuela over the past few years would be familiar with the above story.
Q.1. For the socialist Corbynistas, what is there that cannot be fixed by as per the passage given above?
A. Wages are raised to preserve real incomes.
B. Public investment financed by printing money—so-called People’s Quantitative Easing.
C. Nationalization.
1. Only (A)
2. Both (A) and (B)
3. Only (C)
4. Both (B) and (C)
5. Both (A) and (C)
Q.2. The British economy has already started to show early signs of turning into?
1. An emerging market.
2. A complete with the trinity of populism.
3. A currency crisis.
4. A balance of payments headache.
5. All (1),(2),(3) and (4)
Q.3. Why the people start quoting prices in dollars or simply start bartering?
A. Since Wages are raised to preserve real incomes.
B. Since any stimulus according to a standard macroeconomic model did not perform well.
C. Since the local currency and prices are divorced from reality.
1. Only (A)
2. Both (A) and (C)
3. Only (C)
4. Both (B) and (C)
5. Both (A) and (B)
Q.4. What will happen when the moment of truth arrives as per the given passage?
A. The government is forced to scale back subsidies
B. Jack up prices
C. Depreciate the currency.
1. Both (A) and (B)
2. Both (B) and (C)
3. All (A),(B) and (C)
4. Only (A)
5. Only (C)
Q.5. What will happen by the time, the revolutionary fervour has all but evaporated?
A. There will always be some loyal children of the revolution who would never see the light.
B. Society descends into a chaos.
C. Confidence falls and people start panicking.
D. International capital will start to exit.
E. Those with the means; start taking their savings out of the country.
1. Only (A)
2. Both (A) and (B)
3. Both (A) and (D)
4. Both (C) and (E)
5. All except (D)
Q.6. What would a standard model predict which is generally enough to deal with the prevailing situation for the time being?
A. Inflation
B. Good old price controls
C. Imports
D. Inventory depletion
1. Only (A)
2. Both (A) and (D)
3. Only (C)
4. Both (B) and (C)
5. All (A),(B), (C) and (D)
Q.7. What does Price controls mean as per the given passage?
A. It means a general increase in prices and fall in the purchasing value of money.
B. It means supply does not respond to increased demand.
C. It means the concealment of the origins of illegally obtained money.
1. Both (A) and (B)
2. Only (B)
3. Both (B) and (C)
4. Only (A)
5. Only (C)
Q.8-9. In the following sentence, three parts i.e. (A), (B) and (C) are given, there can be error(s) in one or all parts of the sentence, you will have to choose the incorrect part(s) of the sentence and mark your answer accordingly.
Q.8. Dubai called in restraint after a country test-launched (A)/ many ballistic missiles, criticising the move but also suggesting other countries along with the(B)/ United States were partly to blame.(C)
1. Only A
2. Only B
3. Both A and C
4. Only C
5. No error
Q.9. India so far has steadfastly refuse to participate in the Belt and Road Initiative, (A)/ maintaining opposition to China’s investment in CPEC,(B)/ which passes through Pakistan-occupied Kashmir.
1. Only A
2. Only B
3. Both A and C
4. Only C
5. No error
Q.10. Malaysia owes the budget (A)/ two billion euros after turning a blind eye (B)/ to a major scam by the importers.(C)
1. Only A
2. Only B
3. Both A and C
4. Only C
5. No error
ANSWERS
Q.1. (4) Answer lies at last of the first paragraph.
Q.2. (5) Answer lies at last of the first paragraph.
Q.3. (3) Answer lies at last of the second paragraph.
Q.4. (4) Answer lies at last of the first paragraph.
Q.5. (4) Answer lies in the last of the passage.
Q.6. (5) Answer lies in the of the passage.
Q.7. (2) Answer lies at last of the last paragraph.
Q.8. (1) In part B: ‘called for’, call for means to demand.
Q.9. (1) In part A: ‘refused’, has, have , had take v3 with them.
Q.10. (5) No error
