首页
登录
职称英语
Could the bad old days of economic decline be about to return? Since OPEC agr
Could the bad old days of economic decline be about to return? Since OPEC agr
游客
2024-10-30
37
管理
问题
Could the bad old days of economic decline be about to return? Since OPEC agreed to supply-cuts in March, the price of crude oil has jumped to almost $ 26 a barrel, up from less than $10 last December. This near-tripling of oil prices calls up scary memories of the 1973 oil shocks resulted in double-digit inflation and global economic decline. ,So where are the headlines warning of gloom and doom this time?
The oil was given another push up this week when Iraq suspended oil exports. Strengthening economic growth, at the same time as winter grips the northern hemisphere, could push the price higher still in the short terra,
Yet there are good reasons to expect the economic consequences now to be less severe than in the 1970s. In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the 1970s. In Europe, taxes account for up to four-fifths of the retails price, so even quite big changes in the price of crude have a more muted effect on pump prices than in the past.
Rich economics are also less dependent on oil than they were, and so less sensitive to swings in the oil price. Energy conservation, a shift to other fuels and a decline in the importance of heavy, energy-intensive industries have reduces oil consumption. Software, consultancy and mobile telephones use far less oil than steel or car production. For each dollar of GDP (in constant prices) rich economics now use nearly 50% less oil than in 1978. The OECD estimates in its latest Economic Outlook that, if oil prices averaged $ 22 a barrel for a full year, compared with $13 in 1998, this would increase the oil import bill in rich economies by only 0.25-0.5% of GDP. That is less than one-quarter of the income loss in 1974 or 1980. On the other hand, oil-importing e merging economies--to which heavy industry has shifted--have become more energy-intensive, and so could be more seriously squeezed.
One more reason not to lose sleep over the rise in oil prices is that, unlike the rises in the 1970s, it has not occurred against the background of general commodity-price inflation and global excess demand. A sizable portion of the world is only just emerging from economic decline. The Economist’s commodity price index is broadly unchanging from a year ago. In 1973 commodity prices jumped by 70%, and in 1979 by almost 30%. [br] We can draw a conclusion from the text that ______.
选项
A、oil-price shocks are less shocking now
B、inflation seems irrelevant to oil-price shocks
C、energy conservation can keep down the oil prices
D、the price rise of crude leads to the shrinking of heavy industry
答案
A
解析
推断题。第三段至第五段的内容表明,这次油价的上涨对全球经济影响不大,不会像1973、1979和 1980年那样,引起全球恐慌。所以,A为正确答案。
转载请注明原文地址:https://tihaiku.com/zcyy/3824220.html
相关试题推荐
Whatdevelopmentcausedadeclineintheuseofrailroads?[br][originaltext]
Whatdevelopmentcausedadeclineintheuseofrailroads?[originaltext]Att
Couldthebadolddaysofeconomicdeclinebeabouttoreturn?SinceOPECagr
Couldthebadolddaysofeconomicdeclinebeabouttoreturn?SinceOPECagr
Couldthebadolddaysofeconomicdeclinebeabouttoreturn?SinceOPECagr
Hehasto_______hismeansalarybylivingeconomically.A、onsetB、outsetC、offs
ThespaceshuttleDiscoverycompleteda______missionuponitsreturntoKenned
HowlonghastheIndonesianforestbeenonfire?[originaltext]Economicexp
Returningtomyapartment_________.A、mywatchwasmissingB、Ifoundmywatchdi
Thegovernment’seconomicreportcameouttheotherday,anditshowstheG
随机试题
Themanwassentencedto10yearsinprisonbecausehe______agovernmentofficia
Themajorityofback-formedwordsareA、nouns.B、adjectives.C、verbs.D、adverbs.
Whichpicturecomesnext?[img]2014m3x/ct_eyyjscz2012j_eyyjsciq_0413_20138[/img]
从1999年到2007年,中国人每年有3次长假,五一、十一和春节,每次假期七天,这些假日被称为黄金周。但越是在假期,人们就越忙碌。不得不上班的人们就更忙碌
AsaprofessoratalargeAmericanuniversity,Ioftenhearstudentssaying:
Everybodywantstogetwealthy.Intoday’s【B1】______world,makingmoneyor
下列关于喉咽的说法正确的是:A.喉咽可单独发生 B.感冒病毒引起的急性喉炎主要
智利的阿塔卡马沙漠是地球上最干燥的地方之一。尽管这里降水极少,但海岸地带能够形成
2021年1—4月份,全国规模以上工业企业实现营业收入37.78万亿元,同比增长
感官检验可以分为()。 A.分析型感官检验B.嗜好型感官检验 C.判断型
最新回复
(
0
)