1. Whose nose grew when he told a lie

Answer: Pinocchio

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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). 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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions.Long ago, the country of Gandhara was ruled by a just and good king Vidyadhara. His subjects were very happy, but as the king grew older, everyone grew more and more worried because the king did not have any children who could take over the kingdom after him. The king was an avid gardener. He spent a lot of time tending to his garden. planting the finest flowers. fruit trees and vegetables. One day. after he finished working in his garden, he proclaimed, ‘I will distribute some seeds to all the children in the kingdom. The one who grows the biggest, healthiest plant within three months will become the price or the princess'. The next day there was a long queue of anxious parents and children outside the palace. Everyone was eager to get a seed arid grow the best plant. Pingala, a poor farmer’s son. was among the children. Like the king, he too was fond of gardening and grew beautiful plants in his backyard. He took the seed from the king and planted it in a pot with great care. Some weeks passed and he plied it with water and manure. but the plant did not appear. Pingala tried changing the soil and transferred the seed to another pot, but even by the end of three months nothing appeared. At last the day came when all the children had to go to the king to show the plant they had grown. They went walking to the palace dressed in their best, holding beautiful plants in their hands. Only Pingala stood sadly, watching them go by. Pingala’s father had watched his son working hard with the seed and lelt sorry for him. ‘Why don’t you go to the king with your empty pot ?’ he suggested. At least he will know you tried your best So Pingala too wore his best suit and joined the others outside the palace, holding his empty pot in his hand and ignoring the laughter around him. Soon the king arrived and began his inspection, The pots held flowers of different shades, beautiful and healthy. but the king did not look happy. At the end of the queue stood Pingala, and when the king reached him, he stopped in surprise. ‘My son, why have you come with an empty pot ? Could you not grow anything? Pingala looked down and said, ‘Forgive me, your highness. I tried my best, I gave it the best soil and manure I had, but the plant would not grow.’ Now the king’s face broke into a smile. He enveloped Pingala in his arms and announced, 'This boy truly deserves to be crowned the prince! I had given everyone roasted seeds, which would never grow. I wanted to see which child was the most honest one, and would admit he or she would not be able to grow anything. Only this young boy told the truth. I am sure he will rule this kingdom one day with truth and honesty'. And indeed that was what happened. When the king grew old and died. Pingala, who had learnt everything from him, came to the throne and ruled Gandhara justly for many years.Why did the king distribute seeds to all the children in his kingdom ?
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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words are printed in bold to help you to locate them while answering some of the questions. Once upon a time there lived a queen in the city of Benaras. Her name was Khema and she was the wife of King Bahuputtaka:One night, the Queen had a dream of a beautiful golden goose that spoke with great wisdom, almost as if he was a sage: She told her husband that she desperately wanted to see a bird just like the one in her dream. So the King aksed his ministers to find out all that they could about a bird such as this. He was told that such a bird did exist but was extremely rare and difficult to find: They advised him to build a beautiful lake aon the outskirts of Benaras so that he may attract such rare and lovely creatures to reside there: In this way the queen might have her wish. Towards the norh, on Mount Cittakuta, there lived about ninety thousand wild geese headed by a beautiful golden goose called King Dhatarattha He got to hear of this exquisite lake surrounded by water lilies and lotuses floating on the surface: The kKing had invited all the birds to come and live on it, promising that one of them would ever be harmed: Corn was acattered on a daily basis in order to attract the birds. So a couple of geese went up to their King, the golden goose and told him that they were quite tired of living up on the mountains and would like to see this wonderful lake where they had been promised food and protection. The king agreed to their request and took the floc down south towards Benaras. Meanwhile, at the lake ing Bahuputtaka had placed hunters all around in order to capture any golden goose that happened to pass by. So the next morning when the headhunter saw this flock of geese approaching he was very excited to see their golden leader. He immediatey went about setting up a snare amongst the water lilies and lotuses, as he knew that the leader would definitely be the first to alight. The whole flock came flying down in one mighty seoop and as expected it was the King’s foot that touched the water first. He was esnsnared and could not escape: Seeing this, the other geese flew into a panic: But none had the courage to try to free their king and so flew back to Mount Cittacuta for safety. All except one: He was the chief captain, Sumukha:King Dhatarattha entreated him to fly to safety too, as he would surely be captured if he stayed by his sid: But Sumukha replied that he would never desert his master in the face of danger and swould either try to save him or die by his side: At this point the hunter approached and as Sumukha saw him he decided to appeal to his compassion. The hunter asked the golden goose how come he had not noticed the trap that was set. The golden goose replied that when one’s time was up it was no use to struggle against what was fated and one must just accept it. The huntsman was very impressed with his grace and wisdom. He then turned to Sumukha and asked why he had not fled with the other birds even though he was free to do so. Sumukha answered that the golden goose was his King, best friend and master and that he could never desert him even at the cost of his own life: Hearing this, the hunter realised that these were a couple of rare birds of great nobility. He did not much care for his own King’s reward and decided to do the right thing and set them free: He told Sumukha that as he was ready to die for his ing he would set them both free to fly wherever they wish.Why were the geese keen on visiting the lake in Benaras?
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MCQ-> Read the following passage carefully and answer the question given below it, certain words are printed in the bold to help you to locate them while answering some of the questions.Once upon a time there lived a queen in the city of Benaras. Her name was Khema and she was the wife of king Bahuputtaka . One night, the Queen had a dream of a beautiful golden goose that spoke with great wisdom, almost as if he was a sage. She told her husband that she desperately wanted to see a bird just like the one in her dream. So the king asked his minister to find out all that they could about a bird such as this. He was told that such a bird did exist but was extremely rare and difficult to find. They advised him to build a beautiful lake on the outskirts of Benaras so that he may attract such rare and lovely creatures to reside there. In this way the queen might have her wish. Towards the north, on Mount Cittakuta, there lived about ninety thousand wild geese headed by a beautiful golden goose called king Dhatarattha. He got to hear of this exquisite lake surrounded by water lilies and lotuses floating on the surface. The king had invited all the birds to come and live on it, promising that none of them would ever be harmed. Corn was scattered on a daily basis in order to attract the birds. So a couple of geese went up to their king, the golden goose and told him that they were quite tired of living up on the mountains and would like to see this wonderful lake where they had been promised food and protection. The king agreed to their request and took the flock down south towards Benaras Meanwhile, at the lake king Bahuputtaka had placed hunters all around in order to capture any golden goose that happened to pass by. So the next morning when the headhunters saw this flock of geese approaching he was very excited to see their golden leader. He immediately went about setting up snare amongst the water lilies and lotuses, as he knew that the leader would definitely be the first to alight . The whole flock came flying down in one mighty swoop and as expected it was the king's foot that touched the water first. He was ensnared and could not escape, seeing this the other geese flew into a panic. But none had the courage to try to free their king and so flew back to Mount Cittacuta for safety. All except one. He was the chief captain, Sumukha replied that he would never desert his master in the face of danger and would either try to save him or die by his side. At this point the hunter approached and as Sumukha saw him he decided to appeal to his compassion. The hunter asked the golden goose how come he had not noticed the trap that was set. The golden goose replied that when one's time was up it was no use to struggle against what was fated and one must just accept it. The huntsman was very impressed with his grace and wisdom He then turned to Sumukha and asked why he had not fled with other birds even though he was free to do. Sumukha answered that the golden goose was his king best friend and master and that he could never desert him even at the cost of his own life. Hearing this, the hunter realised that these were a couple of rare birds of great nobility. He did not much care for his own king's reward and decided to do the right thing and set them free. He told Sumukha that as he was ready to die for his king he would set them both free to fly wherever they wish.Why were the geese keen on visiting the lake in Benaras ?
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