Everything From A Single Para English Aptitude Test- The Mint 12/09/2019
These Questions Completely based on Single “The Mint Editorial”. The purpose to start this is to make you read the same paragraph again and again to understand the different types of questions like comprehension, cloze test, sentence arrangement, sentence improvement, vocab, antonyms, synonyms, fillers (all based on single paragraph) etc. Reading this paragraph while practicing these questions will help you understand.
The Mint Editorial : 12 September 2019
Title: A new paradigm to address global income inequality
At the beginning of classes every autumn, I tease my students with the following question: Is it better to be poor in a rich country or rich in a poor country? The question typically invites considerable and inconclusive debate. But we can devise a more structured version of the question, for which there is a definitive answer.
Let’s narrow the focus to incomes and assume that people care only about their own consumption levels (disregarding inequality and other social conditions). “Rich” and “poor” are those in the top and bottom 5% of the income distribution. In a typical rich country, the poorest 5% of the population receive around 1% of national income. Data are a lot sparser for poor countries, but it would not be too much off the mark to assume that the richest 5% there receive 25% of national income.
Similarly, let’s assume that rich and poor countries are those in the top and bottom 5% of all countries, ranked by per capita income. In a typical poor country, that is around $1,000, compared to $65,000 in a typical rich country (these are adjusted for cost-of-living differentials).
Now, we can calculate that a rich person in a poor country has an income of $5,000 ($1,000 x 0.25 x 20) while a poor person in a rich country earns $13,000 ($65,000 x 0.01 x 20). Measured by material living standards, a poor person in a rich country is [over] twice as well off as a rich person in a poor country.
This result surprises my students; most expect the reverse to be true. When they think of wealthy individuals in poor countries, they imagine tycoons living in mansions. While such individuals exist, a representative of the top 5% in very poor countries is likely to be a mid-level government bureaucrat.
The larger point of this comparison is to underscore the importance of income differences across countries, relative to inequalities within countries. At the dawn of modern economic growth, before the Industrial Revolution, global inequality derived almost exclusively from inequality within countries. Income gaps between Europe and poorer parts of the world were small. But as the West developed in the nineteenth century, the world economy underwent a “great divergence”. During much of the postwar period, income gaps between rich and poor countries accounted for the greater part of global inequality.
From the late 1980s, two trends began to alter this picture. First, led by China, many parts of the lagging regions began to experience substantially faster economic growth than the world’s rich countries.
For the first time in history, the typical developing-country resident was getting richer at a faster pace than his or her counterparts in Europe and North America. Second, inequalities began to increase in many advanced economies, especially those with less-regulated labour markets and weak social protections. The rise in the US has been so sharp that it is no longer clear that the standard of living of the American “poor” is higher than that of the “rich” in the poorest countries.
These trends went in offsetting directions in terms of overall global inequality—one decreased it while the other increased it. But they have both raised the share of within-country inequality, reversing an uninterrupted trend observed since the 19th century.
Given patchy data, we cannot be certain about the shares of within- and between-country inequality in today’s world economy. But in an unpublished paper based on data from the World Inequality Database, Lucas Chancel of the Paris School of Economics estimates that as much as three-quarters of global inequality may be due to within-country inequality. Estimates by two other French economists, François Bourguignon and Christian Morrison, suggest that within-country inequalities has not loomed so large since the late nineteenth century.
These estimates, if correct, suggest that the world economy has crossed an important threshold, requiring us to revisit policy priorities. For a long time, economists like me have been telling the world that the most effective way to reduce global income disparities would be to accelerate economic growth in low-income countries. Cosmopolitans in rich countries could claim to hold the high moral ground when they downplayed the concerns of those complaining about domestic inequality.
But the rise of populist nationalism throughout the West has been fuelled partly by the tension between the objectives of equity in rich countries and higher living standards in poor countries. Advanced economies’ increased trade with low-income countries has contributed to domestic wage inequality.
Probably the single best way to raise incomes in the rest of the world would be to allow a massive influx of workers from poor countries into [the] rich. That would not be good news for less educated, lower-paid rich-country workers.
Yet, advanced-economy policies that emphasize domestic equity need not be harmful to the global poor, even in international trade. Economic policies that lift incomes at the bottom of the labour market and diminish economic insecurity are good both for domestic equity and for the maintenance of a healthy world economy.
Directions (1-3) Choose the similar meaning
Directions: (4-5) choose the opposite meaning
Direction (6-7): Which of the following phrases given below each sentence should replace the phrase printed in bold letters to make the sentence meaningfully correct. Choose the best option among the five given alternatives that reflect the correct use of phrase in the context of the grammatically correct sentence. If the sentence is correct as it is, mark “No Error” as your answer.
Q6. Let’s narrow the focus to incomes and assume that people care only about its own consumption levels
a)about it is own
b)about its own
d)about their own
Q7. At the dawn of modern economic growth, before the Industrial Revolution, global inequality derived almost exclusively from inequality within countries.
a)At the dawn of
b)Since the dawn of
c)At the dawn
d)From the dawn of
Directions (8-10): In the passage given below there are blanks which are numbered from 8 to 10. They are to be filled with the options given below the passage against each of the respective numbers. Find out the appropriate word in each case which can most suitably complete the sentence without altering its meaning. If none of the words given in options fits in, mark ‘None of these’ as your answer choice.
For the first time in history, the typical developing-country ………..8……… was getting richer at a faster pace than his or her ……….9…….. in Europe and North America. Second, ………10…….. began to increase in many advanced economies, especially those with less-regulated labour markets and weak social protections.
Directions (11-12): Read each of the following sentences to find out if there is any grammatical error in it. The error, if any, will be in one part of the sentence. The number (A, B, C or d) of this part is your answer. If there is no error in the statement, then mark option (e) as your answer choice.
Q11. But we can devise(a)/ a more structured version(b)/ of the question, for(c)/ which there is a definitive answer(d)/(e)/
Q12. Economics estimates that(a)/ as many as three-quarters(b)/ of global inequality may be due(c)/ to within-country inequality(d)/
Directions (13-15): Rearrange the following sentences (a), (b), (c), (d), and (e) in the proper sequence to form a meaningful paragraph and then answer the questions given below.
a) For a long time, economists like me have been telling the world that the most effective way to reduce global income disparities would be to accelerate economic growth in low-income countries.
b) But the rise of populist nationalism throughout the West has been fuelled partly by the tension between the objectives of equity in rich countries and higher living standards in poor countries.
c) Cosmopolitans in rich countries could claim to hold the high moral ground when they downplayed the concerns of those complaining about domestic inequality.
d) These estimates, if correct, suggest that the world economy has crossed an important threshold, requiring us to revisit policy priorities.
e) Advanced economies’ increased trade with low-income countries has contributed to domestic wage inequality.
Q13. Which is the Second step after rearrangement?
Q14. Which is the Third step after rearrangement?
Q15. Which is the Fourth step after rearrangement?
Directions (16-17): In each of the following sentences, there is a blank space. Below each such sentence, there are four options with one word each. Fill up the blank with the word that makes the sentence grammatically and contextually correct. If none of the four words is your answer, choose option (e) as your answer choice.
Q16. Yet, advanced-economy policies that ………… ..domestic equity need not be harmful to the global poor, even in international trade.
Q17. The larger point of this ……………. is to underscore the importance of income differences across countries, relative to inequalities within countries.
Directions (18-20): Answer the questions given below based on the passage.
Q18. According to passage what is author’s suggestions regarding global income disparities?
a)accelerate economic growth in low-income countries
b)Cosmopolitans in rich countries should claim to hold the high moral ground
d)all of about
Q19. According to passage on what is the best way to raise incomes?
a)offsetting directions in terms of overall global inequality
b)Economic policies that lift incomes at the bottom of the labour market
c)massive influx of workers from poor countries into rich
d)all of above
Q20. Which of the following statements is/are true in context of the passage above?
(I)a poor person in a rich country is thrice as well off as a rich person in a poor country.
(II)the poorest 5% of the population receive around 2% of national income
(III)Rich” and “poor” are those in the top and bottom 5% of the income distribution.
a) Only (III)
b) Both (I) and (II)
c) Both (II) and (III)
d) All are incorrect
Answers With Explanation
Ans.1, d it means not leading to a firm conclusion or result; not ending doubt or dispute.
Ans.2, c it means thinly dispersed or scattered.
Ans.3, b it means without a break in continuity.
Ans.4, b Disparity means a great difference. Congruence means agreement or harmony; compatibility.
Ans.5, a Influx means an arrival or entry of large numbers of people or things. Effluence means a substance that flows out from something.
Ans.6, d What is the difference between these following expressions, and is it correct to use these expressions in both their singular and plural forms?
“The German people are not warlike”
“The German people is not warlike”
(As in “The German people is no warlike nation. It is a soldierly one, which means it does not want a war but does not fear it….”)
“People are funny”
“People is funny”
Here I suppose that “people is” referring to a population/community: “the German people is not warlike” = “the German population is not warlike” and “People is funny” = “population is funny”.
Ans.7, a At”, if you are sticking with “there were”, suggesting a past event that has occurred and finished [the divergence of paths].
“Since” would be used if you said “there have been”, suggesting that there was a divergence that is still very much ongoing.
It’s whether you see the divergence as a singular act at a singular-ish point in time, or as an ongoing divergence, diverging more and more, even as you write this.
Ans.8, b it means a person who lives somewhere permanently or on a long-term basis.
Ans.9, a it means a person or thing that corresponds to or has the same function as another person or thing in a different place or situation.
Ans.10, c it means difference in size, degree, circumstances, etc.; lack of equality.
Ans.11, e no error.
Ans.12, b use as much as in place of as many as.
As much as, as many as
When we want to make comparisons referring to quantity, we use as much as with uncountable nouns and as many as with plural nouns:
Greg makes as much money as Mick but not as much as Neil.
They try to give them as much freedom as they can.
Ans.13, a is correct. Because the correct sequence is DAEBC.
Ans.14, e is correct.
Ans.15, b is correct.
Ans.16, d it means give special importance or value to (something) in speaking or writing
Ans.17, c it means a consideration or estimate of the similarities or dissimilarities between two things or people.
Ans.18, a according to passage a is correct.
Ans.19, c according to passage c is correct.
Ans.20, a according to passage a is correct.