New Pattern Cloze Test Part 7


  • Since the Agrarian Revolution, technological progress has always fueled opposing forces of diffusion and concentration. Diffusion (1) as old powers and (2) corrode; concentration occurs as the power and reach of those who control new capabilities expand. The so-called Fourth Industrial Revolution will be no exception in this regard.
  • Already, the tension between (3) and concentration is (4) at all levels of the economy. During the 1980s and early 1990s, trade grew thrice as fast as GDP, lifting hundreds and hundreds of millions out of poverty. Thanks to the globalization of capital and knowledge, countries were able to shift resources to more productive and higher-paying sectors. All of this contributed to the diffusion of market power.
  • But this diffusion occurred in (5) with an equally stark (6). At the sectoral level, a couple of key industries – most notably, finance and information technology – secured a growing share of profits. In the United States, for example, the financial sector generates just 4% of employment but accounts for more than 25% of corporate profits. And half of US companies that generate profits of 25% or more are tech firms.
  • The same has (7) at the organizational level. The most profitable 10% of US businesses are eight times more profitable than the (8) firm. In the 1990s, the multiple was only three.
  • Such concentration effects go a long way toward explaining rising economic inequality. Research by Rodriguez and his colleagues at Stanford reveals that, in countries where sectoral concentration has declined in recent (9), such as North Korea, income inequality has fallen. In those where sectoral concentration has intensified, such as Norway, (10) has risen. 

Question 1.

1) disguise
2) solicit
3) stable
4) occurs
5) lead

Question 2.

1)  privileges
2) injunction
3) obtuse
4) depend
5) astound

Question 3.

1) degrade
2) debased
3) diffusion
4) duplicity
5) deform

Question 4.

1) drift
2) intensifying
3) inhibit
4) unfasten
5) pillaging

Question 5.

1) recede
2) buoyant
3) palatable
4) parallel
5) errant

Question 6.

1) concentration
2) gushing
3) effectual
4) frothing
5) accomplish

Question 7.

1) manumit
2) evoked
3) ecstatic
4) occurred
5) mislead

Question 8.

1) sophism
2)  group
3) evasive
4) magnify
5) average

Question 9.

1) fiend
2) decades
3) delve Into
4) leaven
5) eagerness

Question 10.

1) nasty
2) confound
3) atrocious
4) inequality
5) glare

Answers

  1. 4) occurs
  2. 1)  privileges
  3. 3) diffusion
  4. 2) intensifying
  5. 4) parallel
  6. 1) concentration
  7. 4) occurred
  8. 5) average
  9. 2) decades
  10. 4) inequality

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