SBI PO Mains 2017: English Quiz based on New Pattern – 4

Von Nuemann and Morgenstern assume a decision framework in which all options are thoroughly considered, each option being independent of the others, with a numerical value derived for the utility of each possible outcome (these outcomes reflecting, in turn, all possible combinations of choices). The decision is then made to maximize the expected utility. … 1 … such a model reflects major simplifications of the way divisions are made in the real world. Humans are not able to process information as quickly and effectively as the model assumes; they tend not to think … 2 … as easily as the model calls for; they often deal with a particular option without really assessing its … 3 … and when they do assess alternatives, they may be extremely nebulous about their criteria of evaluation.

1.
1. Regrettably
2. Firstly
3. Obviously
4. Apparently

2.
1. quantitatively
2. systematically
3. scientifically
4. analytically

3.
1. implications
2. disadvantages
3. utility
4. Alternatives

In a large company, … 4 … people is about as common as using a gun or a switch-blade to … 5 … an argument. As a result, most managers have little or no experience of firing people, and they find it emotionally traumatic; as result, they often delay the act interminably, much as an unhappy spouse will prolong a bad marriage. And when the firing is done, it’s often done clumsily, with far worse side effects than are necessary. Do the world-class software organizations have a different way of firing people? No, but they do the deed swiftly, humanely, and professionally. The key point here is to view the fired employee as a ‘failed product’ and to ask how the process … 6 … such a phenomenon in the first place.

4.
1. dismissing
2. punishing
3. firing
4. admonishing

5.
1. resolve
2. thwart
3. defeat
4. close

6.
1. derived
2. engineered
3. produced
4. allowed

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Directions for questions 7 to 10: In each of the questions below, four different ways of writing a sentence are indicated. Choose the best way of writing the sentence.

7. A. The main problem with the notion of price discrimination is that it is not always a bad thing, but that it is the monopolist who has the power to decide who is charged what price.
B. The main problem with the notion of price discrimination is not that it is always a bad thing, it is the monopolist who has the power to decide who is charged what price.
C. The main problem with the notion of price discrimination is not that it is always a bad thing, but that it is the monopolist who has the power to decide who is charged what price.
D. The main problem with the notion of price discrimination is not it is always a bad thing, but that it is the monopolist who has the power to decide who is charged what price.
1. A
2. B
3. C
4. D

8. A. A symbiotic relationship develops among the contractors, bureaucracy and the politicians, and by a large number of devices costs are artificially escalated and black money is generated by underhand deals.
B. A symbiotic relationship develops among contractors, bureaucracy and politicians, and costs are artificially escalated with a large number of devices and black money is generated through underhand deals.
C. A symbiotic relationship develops among contractors, bureaucracy and the politicians, and by a large number of devices costs are artificially escalated and black money is generated on underhand deals.
D. A symbiotic relationship develops among the contractors, bureaucracy and politicians, and by large number of devices costs are artificially escalated and black money is generated by underhand deals.
1. A
2. B
3. C
4. D

9. A. The distinctive feature of tariffs and export subsidies is that they create difference of prices at which goods are traded on the world market and their price within a local market.
B. The distinctive feature of tarriffs and export subsidies is that they create a difference of prices at which goods are traded with the world market and their prices in the local market.
C. The distinctive feature of tariffs and export subsidies is that they create a difference between prices at which goods are traded on the world market and their prices within a local market.
D. The distinctive feature of tarriffs and export subsidies is that they create a difference across prices at which goods are traded with the world market and their prices within a local market.
1. A
2. B
3. C
4. D

10. A. Any action of government to reduce the systemic risk inherent in financial markets will also reduce the risks that private operators perceive and thereby encourage excessive hedging.
B. Any action by government to reduce the systemic risk inherent in financial markets will also reduce the risks that private operators perceive and thereby encourage excessive gambling.
C. Any action by government to reduce the systemic risk inherent in financial markets will also reduce the risks that private operators perceive and thereby encourages excessive gambling.
D. Any action of government to reduce the systemic risk inherent in financial markets will also reduce the risks that private operators perceive and thereby encourages excessive gambling.
1. A
2. B
3. C
4. D