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Several years ago, I had the (1) of chairing a commission on growth in developing countries. Its members had significant economic, political, and social policymaking experience in the developing world, and despite their differences, they all agreed on certain crucial points. Two still stand out in my memory.
First, as we (2) in our final report, non-inclusive growth patterns will always ultimately fail. Such patterns cannot produce the sustained high growth that is necessary for reducing poverty and fulfilling basic human aspirations for health, security, and the chance to contribute productively and creatively to society. They underutilize and misuse valuable human resources; and they often give rise to political or social (3) , often marked by ideological or ethnic polarization, which then leads either to wide policy swings or to policy paralysis.
Our second broad conclusion was that sustained growth requires a coherent, adaptable strategy that is based on shared values and goals, trust, and some degree of (4) . Of course, achieving that is easier said than done.
Many developing countries have experienced extended periods of slow or no growth. In some cases, a country’s leaders are simply confused, and do not understand what needs to be done. In most cases, however, the (5) of an effective “growth model” are well known, and the problem is a lack of political or social consensus about how to (6) it.
Achieving a higher growth (7) is rarely a gradual or (8) transition. It requires a discontinuous leap in expectations and policies, and a fundamental shift in the political and social consensus. When these shifts occur, leadership plays a crucial role, by providing citizens with an alternative vision, based on common values, that all stakeholders can support. Such leadership can come from above, from below, or from a representative group. But as the persistence of low-growth equilibria in many countries shows, it often doesn’t come at all.
The spillover effects of non-inclusive growth are already (9) almost everywhere, to varying degrees, in the form of social polarization, policy (10) and incoherence, and a generalized loss of public trust. In this respect, developing countries’ experience holds potentially important lessons for policymakers and various stakeholders in advanced economies.
- 1) squash
4) drawback5) torpedoAnswer – 2)
Explanation: privilege – a special right, advantage, or immunity granted or available only to a particular person or group.
- 1) tranquility2) impairment
3) liability4) concluded
5) renderedAnswer – 4)
Explanation: concluded – bring or come to an end.
- 1) prejudice
5) turmoilAnswer – 5)
Explanation: turmoil – a state of great disturbance, confusion, or uncertainty.
- 1) consistency2) consensus
5) countermandAnswer – 2)
Explanation: consensus – a general agreement.
- 1) disservice
5) rescindsAnswer – 3)
Explanation: ingredients – any of the foods or substances that are combined to make a particular dish.
- 1) epitome
5) implementAnswer – 5)
Explanation: implement – a tool, utensil, or other piece of equipment that is used for a particular purpose.
- 1) conclusive
5) mischiefAnswer – 2)
Explanation: equilibrium – a state in which opposing forces or influences are balanced.
5) incrementalAnswer – 5)
Explanation: incremental – relating to or denoting an increase or addition, especially one of a series on a fixed scale.
- 1) essentially
5) suspensionAnswer – 2)
Explanation: evident – clearly seen or understood; obvious.
- 1) bordering
5) concordAnswer – 4)
Explanation: gridlock – a situation of very severe traffic congestion.