1. Currency movements can have a dramatic impact on equity returns for foreign investors. (a) This is not surprising as many developing economies try to peg their exchange rates to the US dollar or to a basket of currencies. (b) Many developing economies manage to keep exchange rate volatility lower than that in the industrial economies. (c) India has also gone in for the full float on the current account and abolished the managed exchange rate. (d) Dramatic exceptions are Argentina, Brazil and Nigeri(a) 6. Another emerging market specific risk is liquidity risk.

Compare and contrast between Portia and Jessica characters in Merchant of Venice.

Direction for Reading Comprehension: The passages given here are followed by some questions that have four answer choices; read the passage carefully and pick the option whose answer best aligns with the passage
The word ‘anarchy’ comes from the Greek anarkhia, meaning contrary to authority or without a ruler, and was used in a derogatory sense until 1840, when it was adopted by Pierre-Joseph Proudhon to describe his political and social ideology. Proudhon argued that organization without government was both possible and desirable. In the evolution of political ideas, anarchism can be seen as an ultimate projection of both liberalism and socialism, and the differing strands of anarchist thought can be related to their emphasis on one or the other of these.
Historically, anarchism arose not only as an explanation of the gulf between the rich and the poor in any community, and of the reason why the poor have been obliged to fight for their share of a common inheritance, but as a radical answer to the question ‘What went wrong?’ that followed the ultimate outcome of the French Revolution. It had ended not only with a reign of terror and the emergence of a newly rich ruling caste, but with a new adored emperor, Napoleon Bonaparte, strutting through his conquered territories.
The anarchists and their precursors were unique on the political Left in affirming that workers and peasants, grasping the chance that arose to bring an end to centuries of exploitation and tyranny, were inevitably betrayed by the new class of politicians, whose first priority was to re-establish a centralized state power. After every revolutionary uprising, usually won at a heavy cost for ordinary populations, the new rulers had no hesitation in applying violence and terror, a secret police, and a professional army to maintain their control.
For anarchists the state itself is the enemy, and they have applied the same interpretation to the outcome of every revolution of the 19th and 20th centuries. This is not merely because every state keeps a watchful and sometimes punitive eye on its dissidents, but because every state protects the privileges of the powerful.
The mainstream of anarchist propaganda for more than a century has been anarchistcommunism, which argues that property in land, natural resources, and the means of production should be held in mutual control by local communities, federating for innumerable joint purposes with other communes. It differs from state socialism in opposing the concept of any central authority. Some anarchists prefer to distinguish between anarchist-communism and collectivist anarchism in order to stress the obviously desirable freedom of an individual or family to possess the resources needed for living, while not implying the right to own the resources needed by others. . . .
There are, unsurprisingly, several traditions of individualist anarchism, one of them deriving from the ‘conscious egoism’ of the German writer Max Stirner (1806–56), and another from a remarkable series of 19th-century American figures who argued that in protecting our own autonomy and associating with others for common advantages, we are promoting the good of all. These thinkers differed from free-market liberals in their absolute mistrust of American capitalism, and in their emphasis on mutualism.

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Direction for Reading Comprehension: The passages given here are followed by some questions that have four answer choices; read the passage carefully and pick the option whose answer best aligns with the passage
In a low-carbon world, renewable energy technologies are hot business. For investors looking to redirect funds, wind turbines and solar panels, among other technologies, seem a straightforward choice. But renewables need to be further scrutinized before being championed as forging a path toward a low-carbon future. Both the direct and indirect impacts of renewable energy must be examined to ensure that a climate-smart future does not intensify social and environmental harm. As renewable energy production requires land, water, and labor, among other inputs, it imposes costs on people and the environment. Hydropower projects, for instance, have led to community dispossession and exclusion . . .Renewable energy supply chains are also intertwined with mining, and their technologies contribute to growing levels of electronic waste . . . Furthermore, although renewable energy can be produced and distributed through small-scale, local systems, such an approach might not generate the high returns on investment needed to attract capital. Although an emerging sector, renewables are enmeshed in long-standing resource extraction through their dependence on minerals and metals . . . Scholars document the negative consequences of mining . . . even for mining operations that commit to socially responsible practices[:] “many of the world’s largest reservoirs of minerals like cobalt, copper, lithium,[and] rare earth minerals”—the ones needed for renewable technologies— “are found in fragile states and under communities of marginalized peoples in Africa, Asia, and Latin America.” Since the demand for metals and minerals will increase substantially in a renewable-powered future . . . this intensification could exacerbate the existing consequences of extractive activities.
Among the connections between climate change and waste, O’Neill . . . highlights that “devices developed to reduce our carbon footprint, such as lithium batteries for hybrid and electric cars or solar panels[,] become potentially dangerous electronic waste at the end of their productive life.” The disposal of toxic waste has long perpetuated social injustice through the flows of waste to the Global South and to marginalized communities in the Global North . ..
While renewable energy is a more recent addition to financial portfolios, investments in the sector must be considered in light of our understanding of capital accumulation. As agricultural finance reveals, the concentration of control of corporate activity facilitates profit generation. For some climate activists, the promise of renewables rests on their ability not only to reduce emissions but also to provide distributed, democratized access to energy . . .But Burke and Stephens . . . caution that “renewable energy systems offer a possibility but not a certainty for more democratic energy futures.” Small-scale, distributed forms of energy are only highly profitable to institutional investors if control is consolidated somewhere in the financial chain. Renewable energy can be produced at the household or neighborhood level. However, such small-scale, localized production is unlikely to generate high returns for investors. For financial growth to be sustained and expanded by the renewable sector, production and trade in renewable energy technologies will need to be highly concentrated, and large asset management firms will likely drive those developments.

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The four sentences (labelled 1, 2, 3, 4) below, when properly sequenced would yield a coherent paragraph. Decide on the proper sequencing of the order of the sentences and key in the sequence of the four numbers as your answer:
1. Complex computational elements of the CNS are organized according to a “nested” hierarchic criterion; the organization is not permanent and can change dynamically from moment to moment as they carry out a computational task.
2. Echolocation in bats exemplifies adaptation produced by natural selection; a function not produced by natural selection for its current use is exaptation --feathers might have originally arisen in the context of selection for insulation.
3. From a structural standpoint, consistent with exaptation, the living organism is organized as a complex of “Russian Matryoshka Dolls” -- smaller structures are contained within larger ones in multiple layers.
4. The exaptation concept, and the Russian-doll organization concept of living beings deduced from studies on evolution of the various apparatuses in mammals, can be applied for the most complex human organ: the central nervous system (CNS).

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In the past, credit for telling the tale of Aladdin has often gone to Antoine Galland . . . the first
European translator of . . . Arabian Nights [which] started as a series of translations of an
incomplete manuscript of a medieval Arabic story collection. . . But, though those tales were of
medieval origin, Aladdin may be a more recent invention. Scholars have not found a manuscript of the story that predates the version published in 1712 by Galland, who wrote in his diary that he first heard the tale from a Syrian storyteller from Aleppo named Hanna Diyab . . .
Despite the fantastical elements of the story, scholars now think the main character may
actually be based on a real person’s real experiences. . . . Though Galland never credited Diyab in his published translations of the Arabian Nights stories, Diyab wrote something of his own: a travelogue penned in the mid-18th century. In it, he recalls telling Galland the story of Aladdin [and] describes his own hard-knocks upbringing and the way he marveled at the extravagance of Versailles. The descriptions he uses were very similar to the descriptions of the lavish palace that ended up in Galland’s version of the Aladdin story. [Therefore, author Paulo Lemos] Horta believes that “Aladdin might be the young Arab Maronite from Aleppo, marveling at the jewels and riches of Versailles.” . . .
For 300 years, scholars thought that the rags-to-riches story of Aladdin might have been
inspired by the plots of French fairy tales that came out around the same time, or that the story was invented in that 18th century period as a byproduct of French Orientalism, a fascination with stereotypical exotic Middle Eastern luxuries that was prevalent then. The idea that Diyab might have based it on his own life — the experiences of a Middle Eastern man encountering te French, not vice-versa — flips the script. [According to Horta,] “Diyab was ideally placed to embody the overlapping world of East and West, blending the storytelling traditions of his homeland with his youthful observations of the wonder of 18th-century France.” . . .
To the scholars who study the tale, its narrative drama isn’t the only reason storytellers keep
finding reason to return to Aladdin. It reflects not only “a history of the French and the Middle
East, but also [a story about] Middle Easterners coming to Paris and that speaks to our world
today,” as Horta puts it. “The day Diyab told the story of Aladdin to Galland, there were riots
due to food shortages during the winter and spring of 1708 to 1709, and Diyab was sensitive to those people in a way that Galland is not. When you read this diary, you see this solidarity
among the Arabs who were in Paris at the time. . . . There is little in the writings of Galland thatwould suggest that he was capable of developing a character like Aladdin with sympathy, but Diyab’s memoir reveals a narrator adept at capturing the distinctive psychology of a young protagonist, as well as recognizing the kinds of injustices and opportunities that can transform the path of any youthful adventurer.”

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The Correct Option is C

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