Directions—(Q. 1–15) Read the following passage carefully and answer the questions given below it. Certain words have been printed in bold to help you locate them while answering some of the questions.
Over the past few decades, many Asian nations transformed from poverty into global competitors. From 2003 to 2007, Asian economies expanded at an average annual rate of 8•1%, triple that of advanced economies. Over the same period, inflation in Asia averaged only about 3•5%. But Asia could be facing turbulent economic times. In May, the average inflation rate throughout the region reached nearly 7%, led by spikes in oil and food prices. In India, inflation jumped to an 11•6% annual rate in June, according to the latest government figures, the highest in 13 years.
