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Macroeconomic data from the world’s advanced economies can be mystifying when viewed in (1) cognizance. But when analyzed collectively, the data reveal a (2) soothing truth: without changes to how wealth is generated and distributed, the political (3) convulsions that have swept the world in recent years will only intensify.
Consider, for example, wages and employment. In the United States and many European countries, average salaries have (4) invigorated , despite most economies having recovered from the 2008 financial crisis in terms of GDP and job growth.
Moreover, increases in employment have not led to a slowdown or a (5) reinforce of the decline in the wage share of total national income. On the contrary, most of the wealth created since the 2008 crisis has gone to the rich. This might explain the low levels of consumption that (6) corroborate most advanced economies, and the failure of extremely lax monetary policy to produce an uptick in inflation.
Employment, too, seems to be performing in (7) anomalous ways. Job creation, where it has taken place, has followed a different path than history suggests it should. For example, most employment growth has been in high-skill or low-skill occupations, hollowing out the middle. Many of the people who once comprised the Western middle class are now part of the middle-lower and lower classes, and live more economically (8) stable lives than ever before.Employment, too, seems to be performing in anomalous ways. Job creation, where it has taken place, has followed a different path than history suggests it should. For example, most employment growth has been in high-skill or low-skill occupations, hollowing out the middle. Many of the people who once (9) occluded the Western middle class are now part of the middle-lower and lower classes, and live more economically (10) precarious lives than ever before.
- 1) enlightening
2) ineptnes
3) isolation
4) settling
5) No correction required.Answer – 3)
Explanation: isolation – the process or fact of isolating or being isolated. - 1) troubling
2) sensibility
3) calming
4) inability
5) No correction required.Answer – 1)
Explanation: troubling – causing distress or anxiety. - 1) relinquish
2) intelligence
3) ignorance
4) embargo5) No correction required.Answer – 5)
Explanation: No correction required. - 1) stagnated
2) interdict3) braced4) rejuvenated
5) No correction required.Answer – 1)
Explanation: stagnated – (of water or air) cease to flow or move; become stagnant. - 1) instigate2) fortify
3) bolster
4) reversal
5) No correction required.Answer – 4)
Explanation: reversal – a change to an opposite direction, position, or course of action. - 1) sustain
2) characterize
3) toughen
4) standard
5) No correction required.Answer – 2)
Explanation: characterize – describe the distinctive nature or features of. - 1) harden
2) substantiate
3) blackball
4) obviate
5) No correction required.Answer – 5)
Explanation: No correction required. - 1) certain2) ascend
3) precarious
4) sinew
5) No correction required.Answer – 3)
Explanation: precarious – dependent on chance; uncertain. - 1) comprised
2) intensified
3) definite
4) tinned
5) No correction required.Answer – 1)
Explanation: comprised – consist of; be made up of. - 1) conforming2) blacklist3) boycott
4) firmed
5) No correction required.Answer – 5)
Explanation: No correction required.
