English: Cloze Test for upcoming exams – Set 73

Fill in the blanks choosing the word that is most appropriate in the context of the passage

In different circumstances the two people could be good friends. Each is rather shy and very smart. And each is __(1)____ about bitcoin, a digital currency. One ___(2)___ hashcash, which foreshadowed components of the crypto-currency; the other is the author of the first Chinese translation of the white paper in which Satoshi Nakamoto, the ___(3)___ creator of bitcoin, first described its inner workings. Adam Back is the chief executive of Blockstream, a Canadian startup, which __(4)__ some of the main developers of the software that defines bitcoin’s inner workings. Jihan Wu is the boss of Bitmain, a Chinese firm, which makes about 80% of the chips that power “miners”, specialised computers that keep the bitcoin network secure, confirm payments and mint new digital coins. But far from being fellow-travellers, each represents one of the two main __(5)__ in what has come to be called a “bitcoin civil war”, fought over how, if at all, the system should grow.

1. A) frigid
   B) impassive
   C) passionate
   D) emphatic
   E) fervent
   
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     Option C
                 
2. A) fabricated
   B) invented
   C) fancied
   D) concocted
   E) fictive
   
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     Option B
                 
3. A) confident
   B) explicit
   C) stable
   D) elusive
   E) fugitive
   
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     Option D
                 
4. A) Employs
   B) engages
   C) extends
   D) leases
   E) practises
   
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     Option A
                 
5. A) bases
   B) harbors
   C) deposits
   D) haunts
   E) Camps
   
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     Option E 

Fill in the blanks choosing the word that is most appropriate in the context of the passage

The Monetary Policy Committee has finally cut the overnight lending rate, or repo rate, but half-heartedly. It remains committed to a “neutral __(1)__”, meaning that it is not likely to cut rates any more this fiscal as it expects inflation to __(2)__ its head all over again (to 3.5-4.5 per cent) in the second half. As in its June 7 meeting, the MPC has failed to provide a convincing reason as to why it could not cut rates by 50 basis points to allow banks more room to reduce their rates as well. The 25-basis point cut is a concession to good monsoon coverage so far. Had the MPC been bolder, it would have created the psychological climate for banks to push the envelope on the lending front. __(3)___ of stressed loans could have eased, helping the ‘twin balance sheets’ of banks and the corporates. It is also __(4)__ that with banks out of their post-demonetisation liquidity surplus phase, the repo window may be used more actively in the days to come — unless the existing inflows into the capital market once again swell up banks’ kitty. All the more reason then for the MPC to have acted more decisively this time. As things stand, the chances are that the banks, now dealing with a __(5)__ rise in the marginal cost of funds, will use the lower repo rate to plug this gap, rather than pass this 25-basis point cut to the borrowers. In addition, some banks may pick up the cue laid down by State Bank of India and merely lower their deposit rates to cushion their finances

1. A) pose
   B) outlook
   C) stance
   D) sentiment
   E) conduct
   
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     Option C
                 
2. A) neglect
   B) rear
   C) raze
   D) drop
   E) advanced
   
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     Option B
                 
3. A) servicing
   B) fixing
   C) aiding
   D) suporting
   E) fading
   
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     Option A
                 
4. A) absolute
   B) positive
   C) activity
   D) cause
   E) moot
   
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     Option E       
5. A) cascading
   B) oozing
   C) flooding
   D) creeping
   E) fancing
   
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     Option D
                 

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