Reading Comprehension

The author holds the rich countries responsible for industrial pollution because of their

Reading Passage: Environment
Directions: Read the passage carefully:

Our planet is at risk. Our environment is under threat. The air we breathe, the water we drink, the seas we fish in, the soils we farm, the forests, animals and plants which surround us are in danger. New terms and words describe these problems - acid rain, the greenhouse effect, global warming, holes in the ozone layer, desertification and industrial pollution. We are changing our environment. More and more gases and wastes escape from. our factories. Rubbish, oil spillages and detergents damage our rivers and seas. Forests give us timber and paper, but their loss results in soil erosion and also endangers wildlife.
The richer countries of the world are mainly responsible for industrial pollution. This is where most of all the commercial energy is produced. In developing countries, poverty causes people to change their environment - to overgraze grasslands, to cut down trees for new land and firewood, to farm poor soil for food.
The United Nations Environment Protection Agency says that an area of the forest, the size of Sierra Leone disappears every year. Trees are cut down for timber which is used for building, furniture, paper and fuel. They are also, destroyed to provide land to graze animals and build new villages and towns. But trees have many other important uses. Trees protect the land from heavy downpour of rain and their roots help to hold the soil together. Forests are also the home of many living things. The Amazon forest contains one fifth of all the species of birds in the world. In our forest, there may be plants and animals which could help in the discovery of new medicines of crops.
To rescue and conserve our beautiful world, we must act cooperatively. Individuals, communities, nations and international associations, all have a responsibility. By learning to protect the natural environment, we can manage the earth's resources for generations to come.

Which of the following is not mentioned in the passage as a new term or word by which environmental problems are known?

Reading Passage: Environment
Directions: Read the passage carefully:

Our planet is at risk. Our environment is under threat. The air we breathe, the water we drink, the seas we fish in, the soils we farm, the forests, animals and plants which surround us are in danger. New terms and words describe these problems - acid rain, the greenhouse effect, global warming, holes in the ozone layer, desertification and industrial pollution. We are changing our environment. More and more gases and wastes escape from. our factories. Rubbish, oil spillages and detergents damage our rivers and seas. Forests give us timber and paper, but their loss results in soil erosion and also endangers wildlife.
The richer countries of the world are mainly responsible for industrial pollution. This is where most of all the commercial energy is produced. In developing countries, poverty causes people to change their environment - to overgraze grasslands, to cut down trees for new land and firewood, to farm poor soil for food.
The United Nations Environment Protection Agency says that an area of the forest, the size of Sierra Leone disappears every year. Trees are cut down for timber which is used for building, furniture, paper and fuel. They are also, destroyed to provide land to graze animals and build new villages and towns. But trees have many other important uses. Trees protect the land from heavy downpour of rain and their roots help to hold the soil together. Forests are also the home of many living things. The Amazon forest contains one fifth of all the species of birds in the world. In our forest, there may be plants and animals which could help in the discovery of new medicines of crops.
To rescue and conserve our beautiful world, we must act cooperatively. Individuals, communities, nations and international associations, all have a responsibility. By learning to protect the natural environment, we can manage the earth's resources for generations to come.

Which of the following points is emphasized by the author in the passage?

Reading Passage: Environment
Directions: Read the passage carefully:

Our planet is at risk. Our environment is under threat. The air we breathe, the water we drink, the seas we fish in, the soils we farm, the forests, animals and plants which surround us are in danger. New terms and words describe these problems - acid rain, the greenhouse effect, global warming, holes in the ozone layer, desertification and industrial pollution. We are changing our environment. More and more gases and wastes escape from. our factories. Rubbish, oil spillages and detergents damage our rivers and seas. Forests give us timber and paper, but their loss results in soil erosion and also endangers wildlife.
The richer countries of the world are mainly responsible for industrial pollution. This is where most of all the commercial energy is produced. In developing countries, poverty causes people to change their environment - to overgraze grasslands, to cut down trees for new land and firewood, to farm poor soil for food.
The United Nations Environment Protection Agency says that an area of the forest, the size of Sierra Leone disappears every year. Trees are cut down for timber which is used for building, furniture, paper and fuel. They are also, destroyed to provide land to graze animals and build new villages and towns. But trees have many other important uses. Trees protect the land from heavy downpour of rain and their roots help to hold the soil together. Forests are also the home of many living things. The Amazon forest contains one fifth of all the species of birds in the world. In our forest, there may be plants and animals which could help in the discovery of new medicines of crops.
To rescue and conserve our beautiful world, we must act cooperatively. Individuals, communities, nations and international associations, all have a responsibility. By learning to protect the natural environment, we can manage the earth's resources for generations to come.

How did Emeka's best friend encourage him to start his life once again?

Reading Passage: Every Cloud Has a Silver Lining
Directions: Read the passage carefully:
Once more, fate dealt him another fatal blow. His spare parts shop in the market had been glutted by fire. Everything he worked for, his sweat, his source of livelihood, all gone. What was he to do now? Who  would he turn to for help?
In his two room apartment, he sat quietly and remem­bered how at the age of sixteen his father died, leaving behind his mother, himself and his five younger brothers. He was at that age, in grade five, a brilliant student with a dream of becoming a successful accountant. But now he had to shoul­der the responsibility of taking care of his younger brothers while going to school.
Life was hard on him. Everyday, he would wake up as early as four o'clock to help his mother in domestic chores and preparing his younger brothers for school. At seven o' clock, he would start off for school. Hoping and praying for the best for his mother in her sales. She sold  food stuff at the local market and from the proceeds she paid her sons’ school fees and provided for their basic needs. But this was hardly enough as sometimes, they would have to go without food and in tattered clothes. Emeka was not discouraged in his efforts to study hard and came out in flying colours. He strove constantly to keep his will strong for he knew that where there is a will there is always a way.
He waded through secondary school and obtained a high grade in his final exams. With this, he hoped to gain admission into the university which he did. This also meant that his mother would have to spend more money on his tuition fees and feeding. He knew that the burden on his mother would be too great. So, he decided to take the burden on himself and look for a part time job out of which he was able to fend for himself. He found a job as a waiter in an eatery in the university premises. He would start work at 4 a.m. and close at 10.00 p.m. This was no easy task but somehow he endured the hardship considering it as a training ground, and hoping that one day fate would be merciful to him.
Emeka studied real hard for his final exams and came out with a second class upper degree. He hoped he would be able to obtain a job with this but was bitterly disappointed as virtually no firm was willing to give him a job. He had become one of the thousands of unemployed youths in the country. Emeka was doggedly determined to make it in life so he out­ rightly refused to allow himself to be pitied. He asked for help from some of his friends in order to rent a shop in which he would sell car spare parts. Out of the sales, he helped his mother take care of his younger brothers. As a matter of fact, he was doing quite well but unfortunately, everything was gone. It seemed that this major incident had sapped all of his strength to carry on. His future seemed to have become bleak. Lamenting his woes, he cried out. "O God! Why me? Why me?
His very good friend Eze tried to console him and encourage him to carry on assuring him that behind every dark cloud there is always a silver lining. Emeka took up the courage and picked up the pieces of his life once again.
One Monday afternoon, about two weeks after the inci­dent, a letter came to him. He wondered who could have sent it. He read the letter and found out that it was a job offer from a renowned bank in the country to become the manager of one of their branches in Lagos. He did not know how he was chosen for the job but he remembered that he had gone there for an interview. He was told to start the job with imme­diate effect. He was also given an official car and an apartment. Now it seemed as if fate was compensating him for all he had lost and he could do nothing but thank God over and over again for blessing him so. Words were not enough to express his joy and he remem­bered Eze's statement that every cloud has a silver lining. And that was exactly what happened to him.

It is stated that the area of forest land that disappears every year is equivalent to the area of Sierra Leone. What is the real purpose of this comparison?

Reading Passage: Environment
Directions: Read the passage carefully:

Our planet is at risk. Our environment is under threat. The air we breathe, the water we drink, the seas we fish in, the soils we farm, the forests, animals and plants which surround us are in danger. New terms and words describe these problems - acid rain, the greenhouse effect, global warming, holes in the ozone layer, desertification and industrial pollution. We are changing our environment. More and more gases and wastes escape from. our factories. Rubbish, oil spillages and detergents damage our rivers and seas. Forests give us timber and paper, but their loss results in soil erosion and also endangers wildlife.
The richer countries of the world are mainly responsible for industrial pollution. This is where most of all the commercial energy is produced. In developing countries, poverty causes people to change their environment - to overgraze grasslands, to cut down trees for new land and firewood, to farm poor soil for food.
The United Nations Environment Protection Agency says that an area of the forest, the size of Sierra Leone disappears every year. Trees are cut down for timber which is used for building, furniture, paper and fuel. They are also, destroyed to provide land to graze animals and build new villages and towns. But trees have many other important uses. Trees protect the land from heavy downpour of rain and their roots help to hold the soil together. Forests are also the home of many living things. The Amazon forest contains one fifth of all the species of birds in the world. In our forest, there may be plants and animals which could help in the discovery of new medicines of crops.
To rescue and conserve our beautiful world, we must act cooperatively. Individuals, communities, nations and international associations, all have a responsibility. By learning to protect the natural environment, we can manage the earth's resources for generations to come.

Emeka started a spare parts shop because

Reading Passage: Every Cloud Has a Silver Lining
Directions: Read the passage carefully:
Once more, fate dealt him another fatal blow. His spare parts shop in the market had been glutted by fire. Everything he worked for, his sweat, his source of livelihood, all gone. What was he to do now? Who  would he turn to for help?
In his two room apartment, he sat quietly and remem­bered how at the age of sixteen his father died, leaving behind his mother, himself and his five younger brothers. He was at that age, in grade five, a brilliant student with a dream of becoming a successful accountant. But now he had to shoul­der the responsibility of taking care of his younger brothers while going to school.
Life was hard on him. Everyday, he would wake up as early as four o'clock to help his mother in domestic chores and preparing his younger brothers for school. At seven o' clock, he would start off for school. Hoping and praying for the best for his mother in her sales. She sold  food stuff at the local market and from the proceeds she paid her sons’ school fees and provided for their basic needs. But this was hardly enough as sometimes, they would have to go without food and in tattered clothes. Emeka was not discouraged in his efforts to study hard and came out in flying colours. He strove constantly to keep his will strong for he knew that where there is a will there is always a way.
He waded through secondary school and obtained a high grade in his final exams. With this, he hoped to gain admission into the university which he did. This also meant that his mother would have to spend more money on his tuition fees and feeding. He knew that the burden on his mother would be too great. So, he decided to take the burden on himself and look for a part time job out of which he was able to fend for himself. He found a job as a waiter in an eatery in the university premises. He would start work at 4 a.m. and close at 10.00 p.m. This was no easy task but somehow he endured the hardship considering it as a training ground, and hoping that one day fate would be merciful to him.
Emeka studied real hard for his final exams and came out with a second class upper degree. He hoped he would be able to obtain a job with this but was bitterly disappointed as virtually no firm was willing to give him a job. He had become one of the thousands of unemployed youths in the country. Emeka was doggedly determined to make it in life so he out­ rightly refused to allow himself to be pitied. He asked for help from some of his friends in order to rent a shop in which he would sell car spare parts. Out of the sales, he helped his mother take care of his younger brothers. As a matter of fact, he was doing quite well but unfortunately, everything was gone. It seemed that this major incident had sapped all of his strength to carry on. His future seemed to have become bleak. Lamenting his woes, he cried out. "O God! Why me? Why me?
His very good friend Eze tried to console him and encourage him to carry on assuring him that behind every dark cloud there is always a silver lining. Emeka took up the courage and picked up the pieces of his life once again.
One Monday afternoon, about two weeks after the inci­dent, a letter came to him. He wondered who could have sent it. He read the letter and found out that it was a job offer from a renowned bank in the country to become the manager of one of their branches in Lagos. He did not know how he was chosen for the job but he remembered that he had gone there for an interview. He was told to start the job with imme­diate effect. He was also given an official car and an apartment. Now it seemed as if fate was compensating him for all he had lost and he could do nothing but thank God over and over again for blessing him so. Words were not enough to express his joy and he remem­bered Eze's statement that every cloud has a silver lining. And that was exactly what happened to him.

Which of the following is not true according to the author?

1. Whatever impacted the Euro zone impacted the whole world
   1. Financial sector crisis of the US left the world economy in tatters
   2. US and Euro zones are the two economic superpowers of the world
   3. Sovereign debt crisis is the worst crisis to have hit the world

Directions: Answer the given question based on the following passage:

The global economy has witnessed two macro economic crises in the last three years shattering the entire gamut of economic growth parameters across the world. Crisis number one is the banking crisis after the fall of Lehman Brothers in 2008 and crisis number two is the on-going sovereign debt crisis of the European Union. The commonality between the two is that they originated in two major economic super power zones: the first one in USA and the second one in EU and thereafter percolated to other parts of the world impacting the growth forces of the world economy. However, the two are different in nature in as much as the US crisis originated from financial sector fall out popularly known as the sub-prime crisis and the EU sovereign debt crisis originated from fiscal fallout. Much has already been written about the financial sector crisis of US. The Sovereign debt crisis of EU is still like hot potato and therefore more pertinent for a detailed discussion.
The crux of the EU sovereign debt crisis was rooted in the Greek debt crisis. The Greek economy was one of the fastest growing economies in the euro zone from 2000 to 2007; during that period it grew at an annual rate of 4.2% as foreign capital flooded the country. A strong economy and falling bond yields allowed the government to run large structural deficits. Successive governments for years had been customarily running large deficits to Finance public sector jobs, pensions, and other social benefits. Since 1993 the ratio of debt to GDP had remained above 100%. After the introduction of euro in January 2001, Greece was initially able to borrow due to the lower interest rates government bonds commanded. Many member countries including Greece borrowed from the rest of the world, especially from the member nations, huge sums by issuing sovereign securities deliberately keeping yields low. But it failed to repay the coupon and the principal when the securities became due for redemption. To obfuscate the simmering problem from public gaze, it further borrowed issuing fresh securities.
The Greek government bond market relied on foreign investors, with some estimates suggesting that up to 70% of Greek government bonds were held externally. The late-2000s financial crisis that began in 2007 made a severe impact on Greece. Two of the country’s largest industries are tourism and shipping, and both were badly affected by the downturn with revenues falling 15% in 2009. Estimated tax evasion costs the Greek government over \$20 billion per year.
As the majority of outstanding debt of Greece is held by other member nations, default of Greece resulted in loss to the member countries. Greece’s debt crisis led to instability in euro, the common currency of EU. There are fears of public debt crises spreading to other EU nations. After the fiscal crisis of Greece, Italy, Ireland, Portugal and Spain also suffered the similar crisis, though to a lesser extent. To stem the rot, European leaders announced a \$1 trillion bailout package in collaboration with IMF. EU Finance ministers pledged to tighten penalties on countries with runaway fiscal deficits. One of the problems facing the euro countries is the disagreement between Greece and the trio of rescuers, EU, IMF and ECB, over the conditions of bail out. The bail-out package will be available subject to the condition that the beneficiary country will have to go for fiscal austerity in terms of reducing fiscal deficit. This could lead to the imposition of additional taxation and curbing corruption and tax evasion. The measures will lead to tje cooling down of industrial growth and increasing of unemployment. Hence, the public at large in Greece are up in arms against the conditions of the second bail-out package. (Excerpted from PNB Monthly Review of Jan 12)

According to the author, what of the following cannot be attributed as the chief reason for this sovereign debt crisis originating in Greece?

1. Reliance of Greek government bonds on foreign investors and its failure to redeem the bonds contributed to this crisis in the main.
   
2. It originated in Greece because its economy was one of the fastest growing economies of the world.
3. Greece had incurred huge losses in tourism and shipping and was unable to honour its external debt commitments.
4. It originated in Greece because this sovereign debt crisis was actually rooted in the Greek debt crisis.

Directions: Answer the given question based on the following passage:

The global economy has witnessed two macro economic crises in the last three years shattering the entire gamut of economic growth parameters across the world. Crisis number one is the banking crisis after the fall of Lehman Brothers in 2008 and crisis number two is the on-going sovereign debt crisis of the European Union. The commonality between the two is that they originated in two major economic super power zones: the first one in USA and the second one in EU and thereafter percolated to other parts of the world impacting the growth forces of the world economy. However, the two are different in nature in as much as the US crisis originated from financial sector fall out popularly known as the sub-prime crisis and the EU sovereign debt crisis originated from fiscal fallout. Much has already been written about the financial sector crisis of US. The Sovereign debt crisis of EU is still like hot potato and therefore more pertinent for a detailed discussion.
The crux of the EU sovereign debt crisis was rooted in the Greek debt crisis. The Greek economy was one of the fastest growing economies in the euro zone from 2000 to 2007; during that period it grew at an annual rate of 4.2% as foreign capital flooded the country. A strong economy and falling bond yields allowed the government to run large structural deficits. Successive governments for years had been customarily running large deficits to Finance public sector jobs, pensions, and other social benefits. Since 1993 the ratio of debt to GDP had remained above 100%. After the introduction of euro in January 2001, Greece was initially able to borrow due to the lower interest rates government bonds commanded. Many member countries including Greece borrowed from the rest of the world, especially from the member nations, huge sums by issuing sovereign securities deliberately keeping yields low. But it failed to repay the coupon and the principal when the securities became due for redemption. To obfuscate the simmering problem from public gaze, it further borrowed issuing fresh securities.
The Greek government bond market relied on foreign investors, with some estimates suggesting that up to 70% of Greek government bonds were held externally. The late-2000s financial crisis that began in 2007 made a severe impact on Greece. Two of the country’s largest industries are tourism and shipping, and both were badly affected by the downturn with revenues falling 15% in 2009. Estimated tax evasion costs the Greek government over \$20 billion per year.
As the majority of outstanding debt of Greece is held by other member nations, default of Greece resulted in loss to the member countries. Greece’s debt crisis led to instability in euro, the common currency of EU. There are fears of public debt crises spreading to other EU nations. After the fiscal crisis of Greece, Italy, Ireland, Portugal and Spain also suffered the similar crisis, though to a lesser extent. To stem the rot, European leaders announced a \$1 trillion bailout package in collaboration with IMF. EU Finance ministers pledged to tighten penalties on countries with runaway fiscal deficits. One of the problems facing the euro countries is the disagreement between Greece and the trio of rescuers, EU, IMF and ECB, over the conditions of bail out. The bail-out package will be available subject to the condition that the beneficiary country will have to go for fiscal austerity in terms of reducing fiscal deficit. This could lead to the imposition of additional taxation and curbing corruption and tax evasion. The measures will lead to tje cooling down of industrial growth and increasing of unemployment. Hence, the public at large in Greece are up in arms against the conditions of the second bail-out package. (Excerpted from PNB Monthly Review of Jan 12)

Bothcrises impacted the world economy in no uncertain terms. Both originated from economy related issues. Yet, both are different because

Directions: Answer the given question based on the following passage:

The global economy has witnessed two macro economic crises in the last three years shattering the entire gamut of economic growth parameters across the world. Crisis number one is the banking crisis after the fall of Lehman Brothers in 2008 and crisis number two is the on-going sovereign debt crisis of the European Union. The commonality between the two is that they originated in two major economic super power zones: the first one in USA and the second one in EU and thereafter percolated to other parts of the world impacting the growth forces of the world economy. However, the two are different in nature in as much as the US crisis originated from financial sector fall out popularly known as the sub-prime crisis and the EU sovereign debt crisis originated from fiscal fallout. Much has already been written about the financial sector crisis of US. The Sovereign debt crisis of EU is still like hot potato and therefore more pertinent for a detailed discussion.
The crux of the EU sovereign debt crisis was rooted in the Greek debt crisis. The Greek economy was one of the fastest growing economies in the euro zone from 2000 to 2007; during that period it grew at an annual rate of 4.2% as foreign capital flooded the country. A strong economy and falling bond yields allowed the government to run large structural deficits. Successive governments for years had been customarily running large deficits to Finance public sector jobs, pensions, and other social benefits. Since 1993 the ratio of debt to GDP had remained above 100%. After the introduction of euro in January 2001, Greece was initially able to borrow due to the lower interest rates government bonds commanded. Many member countries including Greece borrowed from the rest of the world, especially from the member nations, huge sums by issuing sovereign securities deliberately keeping yields low. But it failed to repay the coupon and the principal when the securities became due for redemption. To obfuscate the simmering problem from public gaze, it further borrowed issuing fresh securities.
The Greek government bond market relied on foreign investors, with some estimates suggesting that up to 70% of Greek government bonds were held externally. The late-2000s financial crisis that began in 2007 made a severe impact on Greece. Two of the country’s largest industries are tourism and shipping, and both were badly affected by the downturn with revenues falling 15% in 2009. Estimated tax evasion costs the Greek government over \$20 billion per year.
As the majority of outstanding debt of Greece is held by other member nations, default of Greece resulted in loss to the member countries. Greece’s debt crisis led to instability in euro, the common currency of EU. There are fears of public debt crises spreading to other EU nations. After the fiscal crisis of Greece, Italy, Ireland, Portugal and Spain also suffered the similar crisis, though to a lesser extent. To stem the rot, European leaders announced a \$1 trillion bailout package in collaboration with IMF. EU Finance ministers pledged to tighten penalties on countries with runaway fiscal deficits. One of the problems facing the euro countries is the disagreement between Greece and the trio of rescuers, EU, IMF and ECB, over the conditions of bail out. The bail-out package will be available subject to the condition that the beneficiary country will have to go for fiscal austerity in terms of reducing fiscal deficit. This could lead to the imposition of additional taxation and curbing corruption and tax evasion. The measures will lead to tje cooling down of industrial growth and increasing of unemployment. Hence, the public at large in Greece are up in arms against the conditions of the second bail-out package. (Excerpted from PNB Monthly Review of Jan 12)

Why did this crisis which was essentially the Greek debt crisis spread to other countries and become sovereign debt crisis? (a) Most of these countries that were affected by sovereign debt crisis were the members of Euro Zone. (b) Most of these countries that were affected by sovereign debt crisis used the common currency Euro. (c) Most of these countries borrowed from one another and failed in unison when it came to redeeming their bonds they had borrowed against. (d) It is no longer possible to live in isolation. Although the crisis originated in Greece, it spread to other countries because they were all economically interlinked.

Directions: Answer the given question based on the following passage:

The global economy has witnessed two macro economic crises in the last three years shattering the entire gamut of economic growth parameters across the world. Crisis number one is the banking crisis after the fall of Lehman Brothers in 2008 and crisis number two is the on-going sovereign debt crisis of the European Union. The commonality between the two is that they originated in two major economic super power zones: the first one in USA and the second one in EU and thereafter percolated to other parts of the world impacting the growth forces of the world economy. However, the two are different in nature in as much as the US crisis originated from financial sector fall out popularly known as the sub-prime crisis and the EU sovereign debt crisis originated from fiscal fallout. Much has already been written about the financial sector crisis of US. The Sovereign debt crisis of EU is still like hot potato and therefore more pertinent for a detailed discussion.
The crux of the EU sovereign debt crisis was rooted in the Greek debt crisis. The Greek economy was one of the fastest growing economies in the euro zone from 2000 to 2007; during that period it grew at an annual rate of 4.2% as foreign capital flooded the country. A strong economy and falling bond yields allowed the government to run large structural deficits. Successive governments for years had been customarily running large deficits to Finance public sector jobs, pensions, and other social benefits. Since 1993 the ratio of debt to GDP had remained above 100%. After the introduction of euro in January 2001, Greece was initially able to borrow due to the lower interest rates government bonds commanded. Many member countries including Greece borrowed from the rest of the world, especially from the member nations, huge sums by issuing sovereign securities deliberately keeping yields low. But it failed to repay the coupon and the principal when the securities became due for redemption. To obfuscate the simmering problem from public gaze, it further borrowed issuing fresh securities.
The Greek government bond market relied on foreign investors, with some estimates suggesting that up to 70% of Greek government bonds were held externally. The late-2000s financial crisis that began in 2007 made a severe impact on Greece. Two of the country’s largest industries are tourism and shipping, and both were badly affected by the downturn with revenues falling 15% in 2009. Estimated tax evasion costs the Greek government over \$20 billion per year.
As the majority of outstanding debt of Greece is held by other member nations, default of Greece resulted in loss to the member countries. Greece’s debt crisis led to instability in euro, the common currency of EU. There are fears of public debt crises spreading to other EU nations. After the fiscal crisis of Greece, Italy, Ireland, Portugal and Spain also suffered the similar crisis, though to a lesser extent. To stem the rot, European leaders announced a \$1 trillion bailout package in collaboration with IMF. EU Finance ministers pledged to tighten penalties on countries with runaway fiscal deficits. One of the problems facing the euro countries is the disagreement between Greece and the trio of rescuers, EU, IMF and ECB, over the conditions of bail out. The bail-out package will be available subject to the condition that the beneficiary country will have to go for fiscal austerity in terms of reducing fiscal deficit. This could lead to the imposition of additional taxation and curbing corruption and tax evasion. The measures will lead to tje cooling down of industrial growth and increasing of unemployment. Hence, the public at large in Greece are up in arms against the conditions of the second bail-out package. (Excerpted from PNB Monthly Review of Jan 12)

What, according to the passage, is not an obstacle in the way of a bail-out package?

1. Imposition of additional taxation.
2. Imposition of fiscal austerity.
3. Reducing of fiscal deficit.
4. Curbing of corruption and tax evasion.

Directions: Answer the given question based on the following passage:

The global economy has witnessed two macro economic crises in the last three years shattering the entire gamut of economic growth parameters across the world. Crisis number one is the banking crisis after the fall of Lehman Brothers in 2008 and crisis number two is the on-going sovereign debt crisis of the European Union. The commonality between the two is that they originated in two major economic super power zones: the first one in USA and the second one in EU and thereafter percolated to other parts of the world impacting the growth forces of the world economy. However, the two are different in nature in as much as the US crisis originated from financial sector fall out popularly known as the sub-prime crisis and the EU sovereign debt crisis originated from fiscal fallout. Much has already been written about the financial sector crisis of US. The Sovereign debt crisis of EU is still like hot potato and therefore more pertinent for a detailed discussion.
The crux of the EU sovereign debt crisis was rooted in the Greek debt crisis. The Greek economy was one of the fastest growing economies in the euro zone from 2000 to 2007; during that period it grew at an annual rate of 4.2% as foreign capital flooded the country. A strong economy and falling bond yields allowed the government to run large structural deficits. Successive governments for years had been customarily running large deficits to Finance public sector jobs, pensions, and other social benefits. Since 1993 the ratio of debt to GDP had remained above 100%. After the introduction of euro in January 2001, Greece was initially able to borrow due to the lower interest rates government bonds commanded. Many member countries including Greece borrowed from the rest of the world, especially from the member nations, huge sums by issuing sovereign securities deliberately keeping yields low. But it failed to repay the coupon and the principal when the securities became due for redemption. To obfuscate the simmering problem from public gaze, it further borrowed issuing fresh securities.
The Greek government bond market relied on foreign investors, with some estimates suggesting that up to 70% of Greek government bonds were held externally. The late-2000s financial crisis that began in 2007 made a severe impact on Greece. Two of the country’s largest industries are tourism and shipping, and both were badly affected by the downturn with revenues falling 15% in 2009. Estimated tax evasion costs the Greek government over \$20 billion per year.
As the majority of outstanding debt of Greece is held by other member nations, default of Greece resulted in loss to the member countries. Greece’s debt crisis led to instability in euro, the common currency of EU. There are fears of public debt crises spreading to other EU nations. After the fiscal crisis of Greece, Italy, Ireland, Portugal and Spain also suffered the similar crisis, though to a lesser extent. To stem the rot, European leaders announced a \$1 trillion bailout package in collaboration with IMF. EU Finance ministers pledged to tighten penalties on countries with runaway fiscal deficits. One of the problems facing the euro countries is the disagreement between Greece and the trio of rescuers, EU, IMF and ECB, over the conditions of bail out. The bail-out package will be available subject to the condition that the beneficiary country will have to go for fiscal austerity in terms of reducing fiscal deficit. This could lead to the imposition of additional taxation and curbing corruption and tax evasion. The measures will lead to tje cooling down of industrial growth and increasing of unemployment. Hence, the public at large in Greece are up in arms against the conditions of the second bail-out package. (Excerpted from PNB Monthly Review of Jan 12)

The author has described it as an approach derived from the linguistic theory of Chomsky. It is

Directions: Answer the given question based on the following passage:

For teachers of a second language, the role of grammar instruction in the classroom has been a perennial subject of debate and has undergone many changes over the years. For example, the once well-respected traditional methods that relied on extensive drilling and memorization of grammar evoked a backlash in the 1970s, which resulted in new methods that excluded grammar instruction in favour of ‘natural’ communication in the classroom. Nevertheless, the topic of grammar remained a live issue, and throughout the 1980s and 1990s, research in the classroom reported positive results for grammar instruction. Even so, the communicative methods had an enduring effect, and the traditional methods of teaching grammar did not return; instead, techniques were developed whereby students would be able to ‘notice’ grammar, often spontaneously in the course of a communicative lesson, and especially if the grammatical problem impeded comprehension. In this way, learners would notice and learn the pattern of grammatical rules for themselves. This new way of looking at grammar instruction has come to be known as language awareness, among other designations. This article will discuss the background and rationale of language awareness, and will introduce a few of the techniques that teachers can use to help students discover grammatical relationships and improve their learning of English. 
Traditional grammar instruction, as it was commonly called, was criticised for its long-winded teacher explanations, its drills and drudgery, and its boring and banal exercises. In the 1970s, new teaching methods appeared that replaced grammar exercises with meaningful communicative environments. In general, the goal was to mirror the way a person learned his or her first language, an approach that was derived from the linguistic theory of Chomsky (1965), who pointed out that humans are endowed with a language acquisition device that enables them to acquire whatever language they are exposed to. Accordingly, our ‘organ of language’ extracts the rules of the target language from the data of performance, and this innate schema comprises ‘linguistic universities’ which are part of our generic inheritance.
Chomsky’s theories revolutionized the field of linguistics, and had a dramatic impact on language teaching as well. The basic assumption underpinning the communicative approach is that language is made in the mind and is internal, a process that generates what Chomsky (1986) refers to as I-language. This suggests that language cannot be acquired by putting learners through a series of linguistic hoops, which is the approach found in the traditional grammar book, and what Chomsky calls E-language, language external to the learner. Based on these theories, ‘nativists’ argued against explicit grammatical instruction in favour of the naturalistic discovery of the target language’s rule system. In the early 1980s, Krashen (1981) proclaimed that exposure to comprehensible input in a stress-free environment was the primary condition for successful second language acquisition. However, at the same time this was being propagated, a number of researchers were investigating on the effect of formal instruction on second language acquisition. Long (1983), for instance, in an extensive review of the empirical research, found that certain types of instruction did make a significant difference and hence one could no longer accept the nativist argument that the effects of grammar teaching appear to be peripheral and fragile.

According to the author, the I-language is

Directions: Answer the given question based on the following passage:

For teachers of a second language, the role of grammar instruction in the classroom has been a perennial subject of debate and has undergone many changes over the years. For example, the once well-respected traditional methods that relied on extensive drilling and memorization of grammar evoked a backlash in the 1970s, which resulted in new methods that excluded grammar instruction in favour of ‘natural’ communication in the classroom. Nevertheless, the topic of grammar remained a live issue, and throughout the 1980s and 1990s, research in the classroom reported positive results for grammar instruction. Even so, the communicative methods had an enduring effect, and the traditional methods of teaching grammar did not return; instead, techniques were developed whereby students would be able to ‘notice’ grammar, often spontaneously in the course of a communicative lesson, and especially if the grammatical problem impeded comprehension. In this way, learners would notice and learn the pattern of grammatical rules for themselves. This new way of looking at grammar instruction has come to be known as language awareness, among other designations. This article will discuss the background and rationale of language awareness, and will introduce a few of the techniques that teachers can use to help students discover grammatical relationships and improve their learning of English. 
Traditional grammar instruction, as it was commonly called, was criticised for its long-winded teacher explanations, its drills and drudgery, and its boring and banal exercises. In the 1970s, new teaching methods appeared that replaced grammar exercises with meaningful communicative environments. In general, the goal was to mirror the way a person learned his or her first language, an approach that was derived from the linguistic theory of Chomsky (1965), who pointed out that humans are endowed with a language acquisition device that enables them to acquire whatever language they are exposed to. Accordingly, our ‘organ of language’ extracts the rules of the target language from the data of performance, and this innate schema comprises ‘linguistic universities’ which are part of our generic inheritance.
Chomsky’s theories revolutionized the field of linguistics, and had a dramatic impact on language teaching as well. The basic assumption underpinning the communicative approach is that language is made in the mind and is internal, a process that generates what Chomsky (1986) refers to as I-language. This suggests that language cannot be acquired by putting learners through a series of linguistic hoops, which is the approach found in the traditional grammar book, and what Chomsky calls E-language, language external to the learner. Based on these theories, ‘nativists’ argued against explicit grammatical instruction in favour of the naturalistic discovery of the target language’s rule system. In the early 1980s, Krashen (1981) proclaimed that exposure to comprehensible input in a stress-free environment was the primary condition for successful second language acquisition. However, at the same time this was being propagated, a number of researchers were investigating on the effect of formal instruction on second language acquisition. Long (1983), for instance, in an extensive review of the empirical research, found that certain types of instruction did make a significant difference and hence one could no longer accept the nativist argument that the effects of grammar teaching appear to be peripheral and fragile.

According to the author, the language awareness is

Directions: Answer the given question based on the following passage:

For teachers of a second language, the role of grammar instruction in the classroom has been a perennial subject of debate and has undergone many changes over the years. For example, the once well-respected traditional methods that relied on extensive drilling and memorization of grammar evoked a backlash in the 1970s, which resulted in new methods that excluded grammar instruction in favour of ‘natural’ communication in the classroom. Nevertheless, the topic of grammar remained a live issue, and throughout the 1980s and 1990s, research in the classroom reported positive results for grammar instruction. Even so, the communicative methods had an enduring effect, and the traditional methods of teaching grammar did not return; instead, techniques were developed whereby students would be able to ‘notice’ grammar, often spontaneously in the course of a communicative lesson, and especially if the grammatical problem impeded comprehension. In this way, learners would notice and learn the pattern of grammatical rules for themselves. This new way of looking at grammar instruction has come to be known as language awareness, among other designations. This article will discuss the background and rationale of language awareness, and will introduce a few of the techniques that teachers can use to help students discover grammatical relationships and improve their learning of English. 
Traditional grammar instruction, as it was commonly called, was criticised for its long-winded teacher explanations, its drills and drudgery, and its boring and banal exercises. In the 1970s, new teaching methods appeared that replaced grammar exercises with meaningful communicative environments. In general, the goal was to mirror the way a person learned his or her first language, an approach that was derived from the linguistic theory of Chomsky (1965), who pointed out that humans are endowed with a language acquisition device that enables them to acquire whatever language they are exposed to. Accordingly, our ‘organ of language’ extracts the rules of the target language from the data of performance, and this innate schema comprises ‘linguistic universities’ which are part of our generic inheritance.
Chomsky’s theories revolutionized the field of linguistics, and had a dramatic impact on language teaching as well. The basic assumption underpinning the communicative approach is that language is made in the mind and is internal, a process that generates what Chomsky (1986) refers to as I-language. This suggests that language cannot be acquired by putting learners through a series of linguistic hoops, which is the approach found in the traditional grammar book, and what Chomsky calls E-language, language external to the learner. Based on these theories, ‘nativists’ argued against explicit grammatical instruction in favour of the naturalistic discovery of the target language’s rule system. In the early 1980s, Krashen (1981) proclaimed that exposure to comprehensible input in a stress-free environment was the primary condition for successful second language acquisition. However, at the same time this was being propagated, a number of researchers were investigating on the effect of formal instruction on second language acquisition. Long (1983), for instance, in an extensive review of the empirical research, found that certain types of instruction did make a significant difference and hence one could no longer accept the nativist argument that the effects of grammar teaching appear to be peripheral and fragile.

The approach of the writer of this passage appears to be to

Directions: Answer the given question based on the following passage:

For teachers of a second language, the role of grammar instruction in the classroom has been a perennial subject of debate and has undergone many changes over the years. For example, the once well-respected traditional methods that relied on extensive drilling and memorization of grammar evoked a backlash in the 1970s, which resulted in new methods that excluded grammar instruction in favour of ‘natural’ communication in the classroom. Nevertheless, the topic of grammar remained a live issue, and throughout the 1980s and 1990s, research in the classroom reported positive results for grammar instruction. Even so, the communicative methods had an enduring effect, and the traditional methods of teaching grammar did not return; instead, techniques were developed whereby students would be able to ‘notice’ grammar, often spontaneously in the course of a communicative lesson, and especially if the grammatical problem impeded comprehension. In this way, learners would notice and learn the pattern of grammatical rules for themselves. This new way of looking at grammar instruction has come to be known as language awareness, among other designations. This article will discuss the background and rationale of language awareness, and will introduce a few of the techniques that teachers can use to help students discover grammatical relationships and improve their learning of English. 
Traditional grammar instruction, as it was commonly called, was criticised for its long-winded teacher explanations, its drills and drudgery, and its boring and banal exercises. In the 1970s, new teaching methods appeared that replaced grammar exercises with meaningful communicative environments. In general, the goal was to mirror the way a person learned his or her first language, an approach that was derived from the linguistic theory of Chomsky (1965), who pointed out that humans are endowed with a language acquisition device that enables them to acquire whatever language they are exposed to. Accordingly, our ‘organ of language’ extracts the rules of the target language from the data of performance, and this innate schema comprises ‘linguistic universities’ which are part of our generic inheritance.
Chomsky’s theories revolutionized the field of linguistics, and had a dramatic impact on language teaching as well. The basic assumption underpinning the communicative approach is that language is made in the mind and is internal, a process that generates what Chomsky (1986) refers to as I-language. This suggests that language cannot be acquired by putting learners through a series of linguistic hoops, which is the approach found in the traditional grammar book, and what Chomsky calls E-language, language external to the learner. Based on these theories, ‘nativists’ argued against explicit grammatical instruction in favour of the naturalistic discovery of the target language’s rule system. In the early 1980s, Krashen (1981) proclaimed that exposure to comprehensible input in a stress-free environment was the primary condition for successful second language acquisition. However, at the same time this was being propagated, a number of researchers were investigating on the effect of formal instruction on second language acquisition. Long (1983), for instance, in an extensive review of the empirical research, found that certain types of instruction did make a significant difference and hence one could no longer accept the nativist argument that the effects of grammar teaching appear to be peripheral and fragile.