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Dear Readers,
Mahendras has started special quizzes for IBPS | RBI | SBI | NABARD so that you can practice more and more to crack the examination. This IBPS | RBI | SBI | NABARD Exam special quiz series will mold your preparations in the right direction and the regular practice of these quizzes will be really very helpful in scoring good marks in the Examination. Here we are providing you the important question of reasoning ability for the IBPS | RBI | SBI | NABARD .
Q1-10 Read the following passage carefully and answer the questions given below it. Certain words have been given in bold to help you locate them while answering some questions.
For many years, the global South has been the key battleground for anti-globalization activists who have campaigned to stall the forces of globalization in developing economies. Despite spirited activism, their efforts have not yielded big results in these countries. A majority of people in China and India support their growing integration into the world economy, according to the latest Global Attitudes Survey conducted by the Pew Research Centre.
It is the advanced economies of the world which seem to have been gripped by anti-globalization protests today. Whether it be the debate on Brexit in the UK, or the debate on trade in the US presidential election campaign, anti-globalizers seem to have the upper hand in these markets. What explains the growing backlash against globalization in advanced economies, and the absence of such a backlash in major emerging markets? A recently published research paper from Japan-based Research Institute on Economy, Trade and Industry (RIETI) seems to suggest that the answer may lie in the unequal gains from globalization. The RIETI study shows that the emergence of global value chains has benefited firms and workers in emerging economies such as China and India, while those in advanced economies have lost out.
The study uses the concept of global value chain (GVC) incomes to gauge the extent of competitiveness of an economy, and the gains it makes from trade. GVC income is defined as the value-added that industries contribute to the production of final manufacturing goods. It differs from value-added share of exports as it includes the value-added in producing manufactures which are sold domestically. Given that developed economies are facing declining domestic demand, and emerging markets are facing rising domestic demand, ignoring such differences may skew measures of competitiveness. To take an example, assume that a company producing entry-level smartphones sets up two factories in the US and India in exactly the same conditions and these produce an equal number of phones. Given the fact that domestic demand for such phones would be much greater in India than in the US, the Indian factory might end up selling bulk of its produce domestically and hence export less than its US counterpart. Just looking at the export data or the value-added share of exports might lead to an incorrect inference that the US factory is more competitive than the Indian factory in the global economy.
Using this measure to compute the value-added in manufacturing by major economies of the globe based on data from the World Input-Output Database, the RIETI researchers show that between 1995 and 2011, India almost doubled its share in real GVC income arising from manufacturing. To be sure, India’s gains are far lower than those of China’s but compared to the fate of Asian tigers such as South Korea and Taiwan, India’s gains appear impressive. A large part of these gains has been driven by foreign demand for goods produced in India
India’s integration into the global economy has not only benefited Indian industry, but also raised job opportunities for workers involved in producing for global value chains, the RIETI study shows. While high-skilled workers have gained far more than low-skilled ones, the overall gain in employment is higher relative to several other major economies.
However, unlike China, which witnessed a big jump in wages along with rising employment, the wage growth for Indian industrial workers has been slower, the study shows. Moreover, given the huge size of the Indian labour force and the low skill levels of most of that labour force, the gains from globalization have eluded the majority. A disaggregated export share analysis of labour intensive industries of the Indian Council for Research on International Economic Relations shows that the share of high-skilled industries in India’s labour intensive exports has been rising over the past couple of decades. While India has been a big beneficiary of globalization, the gains have not trickled down adequately to a large section of its workforce.
Q1 Several statements with regard to “the value-added share of exports” have been mentioned. Which is the one that is not based on the given passage?
01. The value-added share of exports might lead to an incorrect inference that the US factory is more competitive than the Indian factory in the global economy.
02. India almost doubled its share in real GVC income arising from manufacturing.
03. India's armed forces have embarked on a shopping spree for modern assault rifles, body armor and helmets, providing a potential boost to global arms suppliers.
04. India’s gains are far lower than those of China’s.
05. A large part of these gains has been driven by foreign demand for goods produced in India.
Q2 Which of the following statement is TRUE according the passage?
01. The emergence of global value chains has benefited firms and workers in emerging economies such as Pakistan and Nepal.
02. The study uses the concept of global value chain (GVC) to gauge the expenditures the extent of competitiveness of an economy.
03. GVC income is defined as the value-added that industries contribute to the production of initial manufacturing goods.
04. GVC differs from value-added share of imports.
05. Developed economies are facing declining domestic demand.
Q3 Find the statement which is not based on the facts mentioned in the given passage?
01. It is the advanced economies of the world which seem to have been gripped by anti-globalization protests today.
02. Anti-globalizers seem to have the upper hand in the markets.
03. All measures have been taken to protect sensitive tax information and the government will have strategic control over it.
04. Only (1) and (2)
05. Only (2) and (3)
Q4 The gains from globalization have eluded the majority. What was/were the reasons thereof?
(A) The huge size of the Indian labour force
(B) The low skill levels of most of the Indian labour force
(C) India’s gains are far lower than those of China’s
01. Only (A)
02. Only (B)
03. Both (A) and (B)
04. Both (B) and (C)
05. All (A),(B) and (C)
Q5 Why according to the author, the usage of the concept of global value chain (GVC) incomes exist?
(A) to gauge the extent of competitiveness of an economy
(B) to increase the gains from trade
(C) to measure the burgeoning taxations.
01. Only (A)
02. Only (B)
03. Only (C)
04. Both (A) and (B)
05. Both (B) and (C)
Q6 Choose the word which is most nearly the OPPOSITE in meaning as the word given in bold as used in the passage.
ADEQUATELY
01. Scarce
02. Lacks
03. Insufficiently
04. Inappropriate
05. Unenthusiastic
Q7 Choose the word which is most nearly the OPPOSITE in meaning as the word given in bold as used in the passage.
ELUDED
01. Confound
02. Avoided
03. Evade
04. Camouflage
05. Assist
Q8 Choose the word most SIMILAR in meaning to the word given in bold, as used in the passage.
BENEFICIARY
01. Giver
02. Assignee
03. Boundless
04. Bubbling
05. Burbling
Q9 Choose the word most SIMILAR in meaning to the word given in bold, as used in the passage.
BACKLASH
01. Questioned
02. Limited
03. Retaliation
04. Exhaustible
05. Devisee
Q10 Choose the word most SIMILAR in meaning to the word given in bold, as used in the passage.
INFERENCE
01. baffled
02. Facts
03. Assumption
04. Immeasurable
05. Compressed
Answers:-
Q.1 (3)
Q.2 (5)
Q.3 (3)
Q.4 (3)
Q.5 (4)
Q.6 (3)
Q.7 (5)
Q.8 (2)
Q.9 (3)
Q.10 (3)
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