Directions: In the passage given below there are 10 blanks. Every blank has five alternative words given in options (A),(B),(C), (D) and (E). You have to tell which word is APPROPRIATE according to the context. Mark that inappropriate word as your answer. If all options are correct, Mark E as your answer.
There are many reasons why politicians like to speak about a strong dollar. A decline in the currency tends to ____1____ import prices, and thus inflation. The US has a big fiscal deficit, which it has to finance from abroad; foreigners won’t be keen on buying fixed-income securities in a declining currency. Ten-year Treasury bonds now yield 2.64%, up 15 basis points in the last month; the five-year yield is up half a percentage point in the last year.
In the past, the dollar’s movements have often been seen as a vote of confidence in a particular president’s policies. In the late 1970s, the economic ____2____ under Jimmy Carter was followed by a rebound in Ronald Reagan’s first term (see chart). So big was the move that, in 1985, leading nations agreed the Plaza accord to drive the dollar back down. The next dollar revival was in Bill Clinton’s second term when the technology boom made US assets highly attractive. A decline under George W. Bush was followed by a couple of rallies under Barack Obama; the first in the depths of the crisis, as investors ____3____ money from the rest of the world in favour of the perceived safety of US assets, and a steadier rise in the early years of this decade.
The current fall, under President Donald Trump, is not spectacular by historical standards. A number of factors explain the shift. First, the world economy is recovering. So investors may be moving money away from the US and into Europe and emerging markets. Second, the recent tax-cutting package passed by Congress means that the US will combine a big fiscal deficit with a trade deficit; meaning its government needs financing from abroad. Under Reagan, the US also had a “twin deficit” problem but this ____4____ the Federal Reserve to raise interest rates sharply, attracting capital into the dollar; the current Fed is pushing up rates but only slowly. Third, the ____5____ pronouncements of the current president may be discouraging foreign investment; a Pew survey last year found a dramatic slump in the image of the US as seen from abroad. As yet, one of the bullish arguments for the dollar—that American companies would ____6____ cash because of a change in the tax laws—doesn’t seem to be having any impact.
If Mr Mnuchin wanted to drive the dollar back up, what could be do? He could asked the Fed to intervene by using its reserves to back the currency, but that is unlikely. Alternatively, he could attempt to close the budget deficit but that would be a complete reversal of policy (the Tax Policy Center suggests the deficit will rise by $1.3trn over the next 10 years, thanks to the recent package). Jerome Powell, the new Fed chairman, will be far more important in determining the dollar’s ____7____ than Mr Mnuchin.
How far can the dollar fall? Our Big Mac index suggests the currency is still____8____ , although less so than six months ago. Gold, often seen as an alternative to the dollar, has been rallying in recent weeks; there are also reports that the fall in cryptocurrencies is causing investors to switch to a more traditional safe haven.
The most likely ____9____ for a dollar rally might be some international crisis (causing a retreat from emerging markets) or a surge in inflation that ____10____ the Fed to tighten policy quicker than markets expect. Be careful what you wish for.
-
go alongpush upgive incomplyAll are correctOption B
-
abilityecstasyhealthmalaiseAll are correctOption D
-
yankeddeterredpulledjostledAll are correctOption C
-
quelledactuatedhinderedpromptedAll are correctOption D
-
variablemethodicalerraticstableAll are correctOption C
-
extrusionproscriptionrepatriateremedyAll are correctOption C
-
alonglinewaydirectionAll are correctOption D
-
hikedratedovervaluedpricedAll are correctOption C
-
catalystsprovokesvibratedarchaicAll are correctOption A
-
provokedpromptedincitedarousedAll are correctOption E
thnku az
6/10
9/10:))
Thank u mam
7/10 ty
mam 10 question samjha samjha do
ty:)az
7/10
7/10
Hi there, I discoveredd your webb siute by the use of Google even as swarching forr a sumilar
topic, youjr site got ere up, itt sseems great. I
have bookmarkd it in my oogle bookmarks.
Hello there, simpl turned inro awaare of youyr blo vvia Google,
aand located thjat it’s really informative.
I’m going to watch oout ffor brussels. I’ll appreciatfe
iin thee evvent yyou continue this in future.
Many othber people cann be benefoted oout off your writing.
Cheers!
It’s aweesome to ppay a quick viusit thijs webb sitee and readding tthe vieews of all
mates on thhe topic of his piece off writing, whioe I aam also
zealous of getting know-how.
Hey there! I’m aat work browsing youjr blog fro my nnew iphone
3gs! Justt wnted to say I love reading your bloog and look forwqard too aall yourr posts!
Keep upp the fantastic work!
Fantastic goods from you, man. I hve understand yourr stuff previous to and yyou are jyst too great.
I really likie what you’ve acqyired here, reaply likoe what you’re stting and the wway in which yyou ssay it.
Youu make it entertaining andd you stilll take care off to keep
iit sensible. I can not wait to read faar more from you.
This is really a great website.
I blig often annd I serioudly appreciate your content.
Thiss great atticle hhas really peaked my interest.
I’m going to take a note oof your blog and kerep checking for
new detfails about once a week. I subscribed too youur Feed aas well.
My brother suggested I might like this web site.
He was tktally right. Thiis posst truly mazde mmy day.
Youu cann’t imaginne simply how mucfh time I haad speht for
this info! Thanks!
Hi, this weekend iis nuce for me, as this moment i am reading this
impressive educational piece of writing hre at mmy house.
Hey! Quck question that’s entirely offf topic. Do you know how to make youyr site mobile friendly?
My weblog loks weird when breowsing from my iphone4.
I’m trying to find a template or plugin that might bee able
to resole this problem. If youu have aany suggestions,
please share. Wiith thanks!
Hey There. I foundd your blog using msn. Thiis is a vdry well
written article. I will be sure to bookmark iit aand come bsck tto rread more oof our useful
information. Thanks foor the post. I will definitedly comeback.
Hello, i feel that i saw yoou visited myy blog sso i cane too return tthe
desire?.I aam tryng to find issxues tto improvve my site!I assume itss ok tto use ome of yoir ideas!!
My brpther recommended I might like tyis
blog. He wass totlly right. Thiss publish actually made my day.
Yoou cann’t considder judt howw a lot time
I had sprnt forr this info! Thanks!
An intriguing discussion iss definitely worth comment.I do think
tthat yyou need too writfe moee on thius issue, it might nnot be a tzboo subject buut usualy folks don’t talk about theswe subjects.
To thhe next! Kindd regards!!
Hello to all, howw is all, I thnink ebery onne is getting ore ffrom this website, aand your views are
pleasant inn favor of nnew users.
755928 306207I consider something truly intriguing about your web site so I saved to fav. 618118
hello there and thank you for your information – I have certainly picked up something new from right here.
I did however expertise several technical issues using this web site,
as I experienced to reload the web site lots
of times previous to I could get it to load correctly.
I had been wondering if your hosting is OK? Not that
I’m complaining, but sluggish loading instances times will often affect your placement in google and could damage your quality score if ads and marketing with
Adwords. Anyway I am adding this RSS to my email and could look out for a lot more of
your respective fascinating content. Ensure that you update this again soon.
Wow that was odd. I just wrote an really long comment but after I clicked submit
my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyway, just
wanted to say fantastic blog!
It’s awesome to pay a visit this web site and reading the views of all
mates concerning this piece of writing, while I am also keen of getting familiarity.
Magnificent items from you, man. I’ve bear in mind your stuff previous
to and you’re simply too excellent. I actually like what
you’ve acquired right here, really like what you are stating
and the way in which in which you are saying it.
You are making it entertaining and you still take care of to
keep it wise. I cant wait to learn far more from you.
This is actually a tremendous website.