- 05/27/2019 at 7:18 pm #1007030EduGorillaKeymasterSelect Question Language :
Direction: 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.
Trade liberalization is supposed to _ (106) _ a country’s income by forcing resources to move from less productive uses, as economists would say, utilizing competitive advantage. But moving resources from low productivity uses to zero productivity does not enrich a country, and this is what happened all too often under IMF programs. It is easy to destroy jobs, and this is often the immediate impact of trade liberalization, as _ (107) _ industries close down under pressure from international competition. IMF ideology holds that new, more _ (108) _ jobs will be created as the old, inefficient jobs that have been created behind strong walls are annihilated. But that is simply not the case and few economists have believed in instantaneous job creation, at least since the Great Depression. It takes capital and annihilated to create new firms and jobs, and in developing countries there is often a shortage of the latter due to lack of _ (109) _ and of the former, due to lack of bank _ (110) _.
Find the appropriate word in each case.
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