1. Among the following who was not an invitee in the BRICS,conference of 2014:





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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold tohelp you locate them while answering some of the questions. During the last few years, a lot of hype has been heaped on the BRICS (Brazil, Russia, India, China, and South Africa). With their large populations and rapid growth, these countries, so the argument goes, will soon become some of the largest economies in the world and, in the case of China, the largest of all by as early as 2020. But the BRICS, as well as many other emerging-market economieshave recently experienced a sharp economic slowdown. So, is the honeymoon over? Brazil’s GDP grew by only 1% last year, and may not grow by more than 2% this year, with its potential growth barely above 3%. Russia’s economy may grow by barely 2% this year, with potential growth also at around 3%, despite oil prices being around $100 a barrel. India had a couple of years of strong growth recently (11.2% in 2010 and 7.7% in 2011) but slowed to 4% in 2012. China’s economy grew by 10% a year for the last three decades, but slowed to 7.8% last year and risks a hard landing. And South Africa grew by only 2.5% last year and may not grow faster than 2% this year. Many other previously fast-growing emerging-market economies – for example, Turkey, Argentina, Poland, Hungary, and many in Central and Eastern Europe are experiencing a similar slowdown. So, what is ailing the BRICS and other emerging markets? First, most emerging-market economies were overheating in 2010-2011, with growth above potential and inflation rising and exceeding targets. Many of them thus tightened monetary policy in 2011, with consequences for growth in 2012 that have carried over into this year. Second, the idea that emerging-market economies could fully decouple from economic weakness in advanced economies was farfetched : recession in the eurozone, near-recession in the United Kingdom and Japan in 2011-2012, and slow economic growth in the United States were always likely to affect emerging market performance negatively – via trade, financial links, and investor confidence. For example, the ongoing euro zone downturn has hurt Turkey and emergingmarket economies in Central and Eastern Europe, owing to trade links. Third, most BRICS and a few other emerging markets have moved toward a variant of state capitalism. This implies a slowdown in reforms that increase the private sector’s productivity and economic share, together with a greater economic role for state-owned enterprises (and for state-owned banks in the allocation of credit and savings), as well as resource nationalism, trade protectionism, import substitution industrialization policies, and imposition of capital controls. This approach may have worked at earlier stages of development and when the global financial crisis caused private spending to fall; but it is now distorting economic activity and depressing potential growth. Indeed, China’s slowdown reflects an economic model that is, as former Premier Wen Jiabao put it, “unstable, unbalanced, uncoordinated, and unsustainable,” and that now is adversely affecting growth in emerging Asia and in commodity-exporting emerging markets from Asia to Latin America and Africa. The risk that China will experience a hard landing in the next two years may further hurt many emerging economies. Fourth, the commodity super-cycle that helped Brazil, Russia, South Africa, and many other commodity-exporting emerging markets may be over. Indeed, a boom would be difficult to sustain, given China’s slowdown, higher investment in energysaving technologies, less emphasis on capital-and resource-oriented growth models around the world, and the delayed increase in supply that high prices induced. The fifth, and most recent, factor is the US Federal Reserve’s signals that it might end its policy of quantitative easing earlier than expected, and its hints of an even tual exit from zero interest rates. both of which have caused turbulence in emerging economies’ financial markets. Even before the Fed’s signals, emergingmarket equities and commodities had underperformed this year, owing to China’s slowdown. Since then, emerging-market currencies and fixed-income securities (government and corporate bonds) have taken a hit. The era of cheap or zerointerest money that led to a wall of liquidity chasing high yields and assets equities, bonds, currencies, and commodities – in emerging markets is drawing to a close. Finally, while many emerging-market economies tend to run current-account surpluses, a growing number of them – including Turkey, South Africa, Brazil, and India – are running deficits. And these deficits are now being financed in riskier ways: more debt than equity; more short-term debt than longterm debt; more foreign-currency debt than local-currency debt; and more financing from fickle cross-border interbank flows. These countries share other weaknesses as well: excessive fiscal deficits, abovetarget inflation, and stability risk (reflected not only in the recent political turmoil in Brazil and Turkey, but also in South Africa’s labour strife and India’s political and electoral uncertainties). The need to finance the external deficit and to avoid excessive depreciation (and even higher inflation) calls for raising policy rates or keeping them on hold at high levels. But monetary tightening would weaken already-slow growth. Thus, emerging economies with large twin deficits and other macroeconomic fragilities may experience further downward pressure on their financial markets and growth rates. These factors explain why growth in most BRICS and many other emerging markets has slowed sharply. Some factors are cyclical, but others – state capitalism, the risk of a hard landing in China, the end of the commodity supercycle -are more structural. Thus, many emerging markets’ growth rates in the next decade may be lower than in the last – as may the outsize returns that investors realised from these economies’ financial assets (currencies, equities. bonds, and commodities). Of course, some of the better-managed emerging-market economies will continue to experitnce rapid growth and asset outperformance. But many of the BRICS, along with some other emerging economies, may hit a thick wall, with growth and financial markets taking a serious beating.Which of the following statement(s) is/are true as per the given information in the passage ? A. Brazil’s GDP grew by only 1% last year, and is expected to grow by approximately 2% this year. B. China’s economy grew by 10% a year for the last three decades but slowed to 7.8% last year. C. BRICS is a group of nations — Barzil, Russia, India China and South Africa.....
MCQ->Among the following who was not an invitee in the BRICS,conference of 2014:....
MCQ-> Mathematicians are assigned a number called Erdos number (named after the famous mathematician, Paul Erdos). Only Paul Erdos himself has an Erdos number of zero. Any mathematician who has written a research paper with Erdos has an Erdos number of 1.For other mathematicians, the calculation of his/her Erdos number is illustrated below:Suppose that a mathematician X has co-authored papers with several other mathematicians. 'From among them, mathematician Y has the smallest Erdos number. Let the Erdos number of Y be y. Then X has an Erdos number of y+1. Hence any mathematician with no co-authorship chain connected to Erdos has an Erdos number of infinity. :In a seven day long mini-conference organized in memory of Paul Erdos, a close group of eight mathematicians, call them A, B, C, D, E, F, G and H, discussed some research problems. At the beginning of the conference, A was the only participant who had an infinite Erdos number. Nobody had an Erdos number less than that of F.On the third day of the conference F co-authored a paper jointly with A and C. This reduced the average Erdos number of the group of eight mathematicians to 3. The Erdos numbers of B, D, E, G and H remained unchanged with the writing of this paper. Further, no other co-authorship among any three members would have reduced the average Erdos number of the group of eight to as low as 3.• At the end of the third day, five members of this group had identical Erdos numbers while the other three had Erdos numbers distinct from each other.• On the fifth day, E co-authored a paper with F which reduced the group's average Erdos number by 0.5. The Erdos numbers of the remaining six were unchanged with the writing of this paper.• No other paper was written during the conference.The person having the largest Erdos number at the end of the conference must have had Erdos number (at that time):
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MCQ-> The Union Government’s present position vis-a-vis the upcoming United Nations conference on racial and related discrimination world-wide seems to be the following: discuss race please, not caste; caste is our very own and not at all as bad as you think. The gross hypocrisy of that position has been lucidly underscored by Kancha Ilaiah. Explicitly, the world community is to be cheated out of considering the matter on the technicality that caste is not, as a concept, tantamount to a racial category. Internally, however, allowing the issue to be put on agenda at the said conference would, we are patriotically admonished, damage the country’s image. Somehow, India’s virtual beliefs elbow out concrete actualities. Inverted representations, as we know, have often been deployed in human histories as balm for the forsaken — religion being the most persistent of such inversions. Yet, we would humbly submit that if globalising our markets is thought as good for the ‘national’ pocket, globalising our social inequities might not be so bad for the mass of our people. After all, racism was as uniquely institutionalised in South Africa as caste discrimination has been within our society; why then can’t we permit the world community to express itself on the latter with a fraction of the zeal with which, through the years, we pronounced on the former?As to the technicality about whether or not caste is admissible into an agenda about race (that the conference is also about ‘related discriminations’ tends to be forgotten), a reputed sociologist has recently argued that where race is a ‘biological’ category caste is a ‘social’ one. Having earlier fiercely opposed implementation of the Mandal Commission Report, the said sociologist is at least to be complemented now for admitting, however tangentially, that caste discrimination is a reality, although, in his view, incompatible with racial discrimination. One would like quickly to offer the hypothesis that biology, in important ways that affect the lives of many millions, is in itself perhaps a social construction. But let us look at the matter in another way.If it is agreed — as per the position today at which anthropological and allied scientific determinations rest — that the entire race of homo sapiens derived from an originary black African female (called ‘Eve’), then one is hard put to understand how, one some subsequent ground, ontological distinctions are to be drawn either between races or castes. Let us also underline the distinction between the supposition that we are all god’s children and the rather more substantiated argument about our descent from ‘Eve’, lest both positions are thought to be equally diversionary. It then stands to reason that all subsequent distinctions are, in modern parlance, ‘constructed’ ones, and like all ideological constructions, attributable to changing equations between knowledge and power among human communities through contested histories here, there, and elsewhere.This line of thought receives, thankfully, extremely consequential buttress from the findings of the Human Genome project. Contrary to earlier (chiefly 19th-century colonial) persuasions on the subject of race, as well as, one might add, the somewhat infamous Jensen offerings in the 20th century from America, those finding deny genetic difference between ‘races’. If anything, they suggest that environmental factors impinge on gene-function, as a dialectic seems to unfold between nature and culture. It would thus seem that ‘biology’ as the constitution of pigmentation enters the picture first only as a part of that dialectic. Taken together, the originary mother stipulation and the Genome findings ought indeed to furnish ground for human equality across the board, as well as yield policy initiatives towards equitable material dispensations aimed at building a global order where, in Hegel’s stirring formulation, only the rational constitutes the right. Such, sadly, is not the case as everyday fresh arbitrary grounds for discrimination are constructed in the interests of sectional dominance.When the author writes ‘globalising our social inequities’, the reference is to
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MCQ-> If translated into English, most of the ways economists talk among themselves would sound plausible enough to poets, journalists, businesspeople, and other thoughtful though non-economical folk. Like serious talk anywhere — among boat desingers and baseball fans, say — the talk is hard to follow when one has not made a habit of listening to it for a while. The culture of the conversation makes the words arcane. But the people in the unfamiliar conversation are not Martians. Underneath it all (the economist’s favourite phrase) conversational habits are similar. Economics uses mathematical models and statistical tests and market arguments, all of which look alien to the literary eye. But looked at closely they are not so alien. They may be seen as figures of speech-metaphors, analogies, and appeals to authority.Figures of speech are not mere frills. They think for us. Someone who thinks of a market as an ‘invisible hand’ and the organization of work as a ‘production function’ and his coefficients as being ‘significant’, as an economist does, is giving the language a lot of responsibility. It seems a good idea to look hard at his language.If the economic conversation were found to depend a lot on its verbal forms, this would not mean that economics would be not a science, or just a matter of opinion, or some sort of confidence game. Good poets, though not scientists, are serious thinkers about symbols; good historians, though not scientists, are serious thinkers about data. Good scientists also use language. What is more (though it remains to be shown) they use the cunning of language, without particularly meaning to. The language used is a social object, and using language is a social act. It requires cunning (or, if you prefer, consideration), attention to the other minds present when one speaks.The paying of attention to one’s audience is called ‘rhetoric’, a word that I later exercise hard. One uses rhetoric, of course, to warn of a fire in a theatre or to arouse the xenophobia of the electorate. This sort of yelling is the vulgar meaning of the word, like the president’s ‘heated rhetoric’ in a press conference or the ‘mere rhetoric’ to which our enemies stoop. Since the Greek flame was lit, though, the word has been used also in a broader and more amiable sense, to mean the study of all the ways of accomplishing things with language: inciting a mob to lynch the accused, to be sure, but also persuading readers of a novel that its characters breathe, or bringing scholars to accept the better argument and reject the worse.The question is whether the scholar- who usually fancies himself an announcer of ‘results’ or a stater of ‘conclusions’ free of rhetoric — speaks rhetorically. Does he try to persuade? It would seem so. Language, I just said, is not a solitary accomplishment. The scholar doesn’t speak into the void, or to himself. He speaks to a community of voices. He desires to be heeded, praised, published, imitated, honoured, en-Nobeled. These are the desires. The devices of language are the means. Rhetoric is the proportioning of means to desires in speech.Rhetoric is an economics of language, the study of how scarce means are allocated to the insatiable desires of people to be heard. It seems on the face of it a reasonable hypothesis that economists are like other people in being talkers, who desire listeners whey they go to the library or the laboratory as much as when they go to the office or the polls. The purpose here is to see if this is true, and to see if it is useful: to study the rhetoric of economic scholarship.The subject is scholarship. It is not the economy, or the adequacy of economic theory as a description of the economy, or even mainly the economist’s role in the economy. The subject is the conversation economists have among themselves, for purposes of persuading each other that the interest elasticity of demand for investment is zero or that the money supply is controlled by the Federal Reserve.Unfortunately, though, the conclusions are of more than academic interest. The conversations of classicists or of astronomers rarely affect the lives of other people. Those of economists do so on a large scale. A well known joke describes a May Day parade through Red Square with the usual mass of soldiers, guided missiles, rocket launchers. At last come rank upon rank of people in gray business suits. A bystander asks, “Who are those?” “Aha!” comes the reply, ”those are economists: you have no idea what damage they can do!” Their conversations do it.According to the passage, which of the following is the best set of reasons for which one needs to ‘look hard’ at an economist’s language?A. Economists accomplish a great deal through their language.B. Economics is an opinion-based subject.C. Economics has a great impact on other’s lives.D. Economics is damaging.
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