Directions (1-15): In the following passage there are blanks, each of which has been numbered. These numbers are printed below the passage and against each, five words are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.
Q1. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)therefore
(b)their
(c)its
(d)having to
(e)there
Q2. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)danger
(b)stagnant
(c)call
(d)remark
(e)preceding
Q3. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)outsource
(b)protect
(c)pose
(d)gave
(e)determine
Q4. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)maintenance
(b)distributed
(c)printing
(d)issuance
(e)collection
Q5. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)might
(b)may
(c)need to be
(d)will have
(e)is
Q6. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)medias
(b)medium
(c)review
(d)mode to
(e)barrier
Q7. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)craved
(b)desirable
(c)requires
(d)has been drawn
(e)depend upon
Q8. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)ultimately is
(b)someday should
(c)finally
(d)eventually
(e)yet
Q9. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)create
(b)choose
(c)acceptance
(d)judge
(e)find
Q10. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)program
(b)policies
(c)scenario
(d)marketplace
(e)monopoly
Q11. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)interrupted
(b)mediated
(c)aid
(d)arbitrated
(e)intervention
Q12. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)scattering
(b)purchasing
(c)procured
(d)forfeit
(e)acquired
Q13. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)undermined
(b)cripple
(c)strengthen
(d)negotiating
(e)terminated
Q14. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)realistic
(b)increment
(c)stagnation
(d)attenuated
(e)signs
Q15. The hope that private cryptocurrencies would become mainstream money suffered a setback last week. In his Budget speech, Finance Minister Arun Jaitley for the first time explicitly said that cryptocurrencies such as bitcoin are not legal forms of money in India and that the government would take steps to eliminate _____1______ use. Mr. Jaitley is not the only politician worldwide to consider cryptocurrencies a ___2____ to the status quo. Under the guise of protecting investors, governments in China and South Korea recently took steps to suppress the use of cryptocurrencies, thus adding to the extreme volatility of their price moves. Why are governments so keen to destroy private cryptocurrencies?
The reason is that these currencies _____3_____ a significant threat to the massive economic power that national currencies, such as the rupee and dollar, provide their governments. Today every country’s government has a legal monopoly over the ___4____ of the currency that its people use. This means that no entity other than the government _____5______ create and sell currencies. The very point of legal tender laws is to ban anything other than the currency issued by the government from being used as a ____6_____ of exchange.
Such government control over money, however, offers politicians enormous benefits. For example, a politician wanting to fund populist programmes can gather the funds he ____7_____ by creating money out of thin air with the help of the central bank. This will _____8______ lead to price inflation that affects the common man, but it at least saves the politician from having to impose higher taxes that could affect his popularity. In this scenario, the rise of cryptocurrencies offers ordinary people the rare opportunity to ____9___ among multiple currencies in the ______10____ . In fact, in a currency market free from government __11_____ , any private entity would be free to issue its own currency with the hope that it would soon become a hit with customers.
While this could be beneficial to citizens, who could choose between currencies, it erodes governments’ monopoly control over money. In the presence of alternative currencies, for instance, people may partially give up using national currencies issued by governments, as elaborated by Austrian economist Friedrich Hayek in Denationalisation of Money. Instead, they might opt to use private cryptocurrencies that offer more stable or predictable ____12_______ power than, say, the rupee. It is thus little wonder that governments have banned or otherwise ___13_______ bitcoin and other private currency systems.
Nevertheless, until now, cryptocurrencies such as bitcoin have failed to show ____14______ of value stability owing to extreme price fluctuations. This is partly because they have only gained acceptance as a speculative asset rather than as a medium of exchange. In a competitive marketplace, however, such currencies are likely to be ousted eventually by competing currencies that better _____15_____ the tastes of buyers.
(a)promoting
(b)erroneous
(c)mollifying
(d)satisfy
(e)trenching
Solutions
S1. Ans.(b)
S2. Ans.(a)
S3. Ans.(c)
S4. Ans.(d)
S5. Ans.(b)
S6. Ans.(b)
S7. Ans.(c)
S8. Ans.(d)
S9. Ans.(b)
S10. Ans.(d)
S11. Ans.(e)
S12. Ans.(b)
S13. Ans.(a)
S14. Ans.(e)
S15. Ans.(d)
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