Read the given passage and answer the four questions that follow:-
As soon as I entered this fascinating world I was looked upon with great expectations. The world was full of racism yet I was held in high esteem. People from the United States of America to Antartica looked at me as I rolled out from the parentage of Europeans. Since economists, raging bulls and bears did not know much about me, I caught the apprehension of my parents, the share market holders, the financial experts, scholars, students and so on. At my birth, I was placed on the lap of my mother, the Federal Bank.
Frankly, my brother Lira, my sister Sterling and my extended family members like the Deutsch Mark and the Yen were quite jealous of me. I knew my worth. I reveal this secret of mine. I am a form of money held or traded outside the country, in whose currency its value is stated. In future I will be globally accepted by the members of all the nations.
I now take pride of place in Euromarket, a financial market which deals with European currencies. I do not want to roll over, but I'd love to be accepted by the developing as well as underdeveloped nations.
Why are the other currencies jealous of the Euro?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Euro can be traded outside the country
Right after saying that Lira, Sterling, the Deutsch Mark and the Yen were jealous, the Euro reveals its "secret": "I am a form of money held or traded outside the country". This special quality is the reason for the other currencies' jealousy.
Why the Other Options are Incorrect?
Option 2: Euro is high in demand in United States of America — Incorrect. Wrong reason: the passage only says people from the USA to Antartica looked at the Euro; it says nothing about demand in the USA making the others jealous.
Option 3: Euro is placed in Federal Bank — Incorrect. Wrong part of the passage: being placed on the lap of the Federal Bank describes its birth, not why others are jealous.
Option 4: Euro has many secrets to reveal — Incorrect. Misread: the Euro reveals one secret, and it is the content of that secret (being traded outside the country), not the act of having secrets, that matters.