Directions: In the following passage, the opening statement has been deleted. From among the statements given below, choose the statement that should precede the passage.
It was a complex legislation, with different valuation norms and a rate as high as 85%, all of which resulted in endless litigation. Collections were also poor, fetching a mere Rs 20 crore (0.4% of total direct tax collections) in FY 1984-85. On similar grounds, wealth tax was abolished by Jaitley from fiscal 2015-16. 'Should a tax, which leads to a high cost of collection and a low yield, be continued or should it be replaced with a low cost and higher yield tax?' Jaitley had asked in his Budget speech.
Directions: In the following passage, the opening statement has been deleted. From among the statements given below, choose the statement that should precede the passage.
In that eventuality, world growth would be hit including in India, even if Indian growth is not driven by net exports and lower oil prices would be welcome. On the other hand, a slowing or recessionary US is no longer a safe harbour in which funds take shelter from the storms of a global slowdown. Emerging markets like India are seen as relatively safe places that offer superior returns.
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Directions: In the following question a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five answer choices given, to make the passage complete and coherent (coherent means logically complete and sound).
The health of discoms is a crucial issue. The much publicised UDAY programme called for a reduction of debts in the discom balance sheets. However, in many ways, this is no more than a transfer of debt from discoms to the state treasury, thereby resulting in a cosmetic reduction in the cost of power at the discom level. ___________ Similarly, in the case of regulated capacities, discoms pay pre-agreed fixed cost based on plant availability criteria even if they do not offtake the contracted capacity. This results in discoms far fewer units, pushing up the power purchase cost per unit. Hence, the average cost of supply for discoms is higher.
Directions: In the following question a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best option out of the answer choices given, to fit in the blank and make the passage complete and coherent (coherent means logically complete and sound).
Most items made of plastic have become history in Maharashtra since March. The state government, which already banned certain type of plastic bags, banned disposable containers, flags, flex boards, banners and non-woven polypropylene bags, among others. ________________ Similarly, plastic containers and sachets that are used to package products such as milk, grains, pulses and other goods were not banned.
Directions: In the following question a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best option out of the answer choices given, to fit in the blank and make the passage complete and coherent (coherent means logically complete and sound).
It's been fifty years since Gornick first took up her post at The Village Voice, where she became a polemicist for the radical feminist movement. Gornick describes most of her years as a freelance writer as 'a miracle, really.' She says that writing her 1973 debut non-fiction book, In Search of Ali Mahmoud, served as the backbone for her work as a 'personal journalist.' The book, for which she went to Egypt to make a study of middle class Cairenes, was a Finalist for the 1974 National Book Awards for Contemporary Affairs. Her following book, The Romance of American Communism (1977), was written in part to demystify the lives of people with whom she'd grown up. As years went on, Gornick's writing became more personal still. Her memoir about her mother, Fierce Attachments (1987), cemented her status as a great American memoirist, the mode she became most famous for. __________________.
From the given options, choose the sentence that completes the paragraph in the most appropriate way.
I am sometimes attacked for imposing `rules’. Nothing could be further from the truth: I hate rules. All I do is report on how consumers react to different stimuli. I may say to a copywriter, “Research shows that commercials with celebrities are below average in persuading people to buy products. Are you sure you want to use a celebrity?” Call that a rule? Or I may say to an art director, “Research suggests that if you set the copy in black type on a white background, more people will read it than if you set it in white type on a black background.”
Relations between the factory and the dealer are distant and usually strained as the factory tries to force cars on the dealers to smooth out production. Relations between the dealer and the customer are equally strained because dealers continuously adjust prices – make deals – to adjust demand with supply while maximizing profits. This becomes a system marked by ‘a lack of long-term commitment’ on either side, which maximizes feelings of mistrust. In order to maximize their bargaining positions, everyone holds back information – the dealer about the product and the consumer about his true desires.
In the evolving world order, the comparative advantage of the United States lies in its military force: Diplomacy and international law have always been regarded as annoying encumbrances, unless they can be used to advantage against an enemy. Every active player in world affairs professes to seek only peace and to prefer negotiation to violence and coercion.
Age has a curvilinear relationship with the exploitation of opportunity. Initially, age will increase the likelihood that a person will exploit an entrepreneurial opportunity because people gather much of the knowledge necessary to exploit opportunities over the course of their lives, and because age provides credibility in transmitting that information to others.
However, as people become older, their willingness to bear risks declines, their opportunity costs rise, and they become less receptive to new information.
We can usefully think of theoretical models as maps, which help us navigate unfamiliar territory. The most accurate map that it is possible to construct would be of no practical use whatsoever, for it would be an exact replica, on exactly the same scale, of the place where we were. Good maps pull out the most important features and throw away a huge amount of much less valuable information. Of course, maps can be bad as well as good – witness the attempts by medieval Europe to produce a map of the world. In the same way, a bad theory, no matter how impressive it may seem in principle, does little or nothing to help us understand a problem.
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