首页
财务会计
医药卫生
金融经济
考公考编
外语考试
学历提升
职称考试
建筑工程
IT考试
其他
登录
建筑工程
Could the bad old days of economic decli
Could the bad old days of economic decli
书海库
2020-05-20
162
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 shock, when prices quadrupled, and 1979-80, when they also almost tripled. Both previous shocks resulted in double-digit inflation and global economic decline. So where are the headlines warning of gloom and doom this time? The oil price 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 term. 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 retail price, so even quite big changes in the price of crude have a more muted effect on pump prices than in the past. Rich economies 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 reduced 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 economies now use nearly 50% less oil than in 1973. 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 emerging 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%.
选项
The main reason for the latest rise of oil price is ______. A.global inflation B.reduction in supply C.fast growth in economy D.Iraq’s suspension of exports
答案
B
解析
细节题。首段第二句提到,自从石油输出国组织在3月份决定减少石油供应以来,原油已从去年12月不到10美元一桶攀升到现在26美元一桶。由此可知,供应量的减少是石油价格攀升的主要原因。故B项正确。首段第四句指出,前两次类似的涨价都导致了通货膨胀和全球经济衰退,A项将因果关系倒置了,故排除。C项文中未提及。第二段第一句指出,伊拉克中止石油出口给这次涨价推波助澜,可见D项并不是主要原因,可排除。
转载请注明原文地址:https://ti.zuoweng.com/ti/WtVpKKKQ
相关试题推荐
Couldthebadolddaysofeconomicdecli
1)Italymaybefacingeconomicdepressio
Couldthebadolddaysofeconomicdecli
随机试题
下列有关风湿性疾病的描述,哪项是错误的 A.属于变态反应性疾病 B.与溶血性
灵感:指在文学、艺术、科学、技术等活动中,由于艰苦学习、长期实践,不断积累经验和
在投保人违反如实告知义务的情况下,如果保险人没有在法定或约定的时间内行使合同解
幼儿记忆发展的特点是()。 (A)无意识记忆为主,有意识记忆发展较迅速 (B)形象记忆为主,词语记忆逐渐发展 (C)机械记忆和意义记忆同时发展并相...
交易者之所以买入看涨期权,是因为他预期基础金融工具的价格在合约期限内将会()。A.难以判断B.不变C.下跌D.上涨
关于劳动争议仲裁的特点说法正确的是()。A:仲裁主体具有特定性B:仲裁对象具有特定性C:仲裁施行非强制原则D:劳动争议仲裁施行仲裁前置、裁审衔接制E:仲
BalancingaJobwithSchoolwork Eachsemester,AndrewTomreceivesatermbi...
关于车船税计税标准的说法,错误的是()。A.专用作业车采用以辆为计税标准B.船舶采用以净吨位为计税标准C.摩托车采用以辆为计税标准D.载货汽车采用以整备
以下不属于中央银行投放基础货币的渠道的是( )。A.对商业银行等金融机构的再贷款B.商业银行在中央银行的存款C.收购金、银、外汇等储备资产投放的货币D.
行业生命周期分为四个阶段,研究开发和工程技术是()阶段的重要职能。A:形成期B:成长期C:成熟期D:衰退期