Directions (Next Ten Questions) : in the given passage, there are blanks, each of which has been numbered. Against each, five words are suggested, one of which fits the blank appropriately. Find the appropriate word in each case.
Confidence in the global economy is….(Question 1)…improving, as evidenced by the bullish behavior of financial markets and by increasingly positive comments from companies and policy makers over the past few weeks.
While economists have generally argued in…..(Question 2)…of a robust recovery, both in the world economy and in financial markets, it is when investors get…(Question 3)…bullish that the pessimistic case deserves more…(Question 4)…. Many of them believe that the current improvement in global conditions is just a blip and that the world faces years, if not decades, of “secular Stagnation”. How ……(Question 5)…should we take these foreboding statements ?
The good news is that there is not much…..(Question 6)…of secular stagnation in global statistics. For the world economy as a whole, the “new normal” since 2008has not, in fact, been vary…(Question 7)…from the pre-crisis period. The average growth of the global economy, from 1988 to 2007, was 3.6 percent, according to the IMF’s Economic Outlook database. Its latest forecast of this year is the same-3.6 percent, although the IMF managing Director hinted at a modest…(Question 8)…this week.
At first sight, this continuity from the pre-crisis decades seems…(Question 9)…to square with the slowdown in economic activity in all major economies since 2008. The IMF expects only 2.2 percent growth this year in developed countries compared with an average of 2.8 percent during the two decades before the crisis. In the emerging economies, meanwhile, growth is…..(Question 10)…at 4.8 percent this year, slightly below the 4.9 percent of the pre-crisis decades.
