Direction: In the passage given below there are 10 blanks, each followed by a word given in bold. Each blank has four alternative words given in options A, B, C and D. You have to tell which word will best suit the respective blank. Mark E as your answer if the word given in bold after the blank is your answer i.e “No change required”.

A (A) everlasting challenge facing all of the world's countries, regardless of their level of economic development, is achieving financial stability, economic growth, and higher living standards. There are many different paths that can be taken to achieve these objectives, and every country's path will be different given the distinctive nature of national economies and political systems. The (B) ingredient contributing to China's high growth rate over the past two decades have, for example, been very different from those that have contributed to high growth in countries as (C) varied as Malaysia and Malta.
 
Yet, based on experiences throughout the world, several basic principles seem to (D) downgrade greater prosperity. These include investment (particularly foreign direct investment), the spread of technology, strong institutions, sound macroeconomic policies, an educated workforce, and the existence of a market economy. Furthermore, a common (E) denominator which appears to link nearly all high-growth countries together is their participation in, and integration with, the global economy.
 
There is (F) primary evidence, from countries of different sizes and different regions, that as countries "globalize" their citizens benefit, in the form of access to a wider variety of goods and services, lower prices, more and better-paying jobs, improved health, and higher overall living standards. It is probably no mere (G) obvious that over the past 20 years, as a number of countries have become more open to global economic forces, the percentage of the developing world living in extreme poverty —defined as living on less than $1 per day—has been cut in half.
 
As much as has been achieved in connection with globalization, there is much more to be done. Regional disparities (H) pursue: while poverty fell in East and South Asia, it actually rose in sub-Saharan Africa. The UN's Human Development Report notes there are still around 1 billion people (I) living on less than $1 per day—with 2.6 billion living on less than $2 per day. Proponents of globalization argue that this is not because of too much globalization, but rather too little. And the biggest (J) security to continuing to raise living standards throughout the world is not that globalization will succeed but that it will fail. It is the people of developing economies who have the greatest need for globalization, as it provides them with the opportunities that come with being part of the world economy.
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C
The given word ‘everlasting’ is grammatically incorrect as before it article ‘An’ must be used. However, it is absolutely correct in the context of the passage and must be replaced by its synonym.

Among the choices given, only the word ‘perennial’ which refers to ‘lasting or existing for a long or apparently infinite time’ fits the blank both grammatically and contextually.

Option C is hence the correct answer.
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D
The word ‘ingredient’ is ungrammatical in the sentence as the verb ‘have’ is plural and must be preceded by a subject plural in number. Option E and option B get eliminated.

‘Ramifications’ means ‘a complex or unwelcome consequence of an action or event’ and doesn’t make sense here in the context. Similar is the case with the word ‘surroundings’.

The word ‘elements’ which means ‘an essential or characteristic part of something abstract’ is meaningful and completes the idea being discussed.

Option D is hence the correct answer.
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E
Here, the word ‘varied’ which refers to ‘incorporating a number of different types or elements; showing variation or variety.’ is already meaningful in the context and thus needs no change.

‘Different’ has already been used once in the sentence and usage of it in place of the word ‘varied’ will bring redundancy in the context.

None of the words ‘downtrodden’ which refers to ‘oppressed or treated badly by people in power’, ‘Terse’ which means ‘abrupt’ and the word ‘haphazard’ which means ‘lacking any obvious principle of organization’ fits the blank appropriately.

Clearly, option E is the correct answer.
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B
The word ‘downgrade’ which refers to ‘reduce to a lower grade, rank, or level of importance’ carries negative connotation whereas the sentences following the word refer to the positive occurrences. Clearly, the word ‘downgrade’ must be replaced by a positive one suitable in the context of the passage. 

The word ‘upgrade’ though positive in tone, doesn’t replace the bold word appropriately as ‘prosperity’ is not something that can be upgraded. Option A is hence eliminated.

Similarly, the word ‘satisfy’ is not meaningful either.

Use of ‘predicted’ will be ungrammatical as an infinitive takes the present form of a verb. Option D also gets eliminated.

Clearly, the word ‘underpin’ which means ‘support, justify, or form the basis for’ replaces the bold word most appropriately.

Option B is hence the correct answer.
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E
The sentence seems to indicate that there is some sort of common element linking the high-growth nations together. The term refers to something common/shared element between two or more things. Clearly, the word in itself is meaningful and needs no replacement.

Option E is hence the correct answer.