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Union Bank Of India Probationary Officers Exam., Solved Paper 2008
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Union Bank of India Probationary Officers Exam., Solved Paper 2008
Directions—(Q. 1–15) Read the following passage carefully and answer the questions
given below it. Certain words have been printed inb old to help you locate them while
answering some of the questions.
Over the past few decades, many Asian nations transformed from poverty into global
competitors. From 2003 to 2007, Asian economies expanded at an average annual rate of
8•1%, triple that of advanced economies. Over the same period, inflation in Asia
averaged only about 3•5%. But Asia could be facingtu rb u l en t economic times. In May,
the average inflation rate throughout the region reached nearly 7%, led by spikes in oil
and food prices. In India, inflation jumped to an 11•6% annual rate in June, according to
the latest government figures, the highest in 13 years.
Policymakers and central bankers are forced to raise interest rates and limit credit to get
inflation under control. But these same measures suppress the investment and
consumption that generates growth. The combination of slowing growth and soaring
inflation makes economic policy-making tricky. Inflationsti rs up the middle classes
because it can quickly erase years of hardwon personalgain s. Inflation is cruel to the
poor, because families have to spend a larger share of their meagre incomes on necessities. In the Philippines, farmers, unable to afford fuel for tractors, use water
buffaloes to plough their fields.
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