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
Freeti
2020-05-20
33
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 latestEconomic Outlookthat, 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’scommodity 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/hQVpKKKQ
相关试题推荐
Couldthebadolddaysofeconomicdecli
1)Italymaybefacingeconomicdepressio
Couldthebadolddaysofeconomicdecli
随机试题
8月6日18时,驾驶员甲驾驶装满液氯的槽罐车驶入某高速公路B56段,20时许,槽
某投资项目的敏感性分析选定财务内部收益率为分析指标,销售价格和可变成本为不确定因
甲企业为增值税一般纳税人,适用的增值税税率为17%,该企业生产主要耗用一种原材料
在Word中,选择“插入”菜单下的“文件”命令时。不支持以下哪种类型的文件?(
关于节俭,正确的说法是()。 A.节俭即是道德义务,也是法律要求 B.节俭
关于腮腺多形性腺瘤手术方式的选择,错误的是
关于分心对说服的影响,正确的说法是()。 (A)分心削弱说服效果(B
()主要是一种收集资料数据的过程,是根据某种标准和一定的操作程序,将学生的学习行为与结果确定为一种量值,以表示学生对所测问题了解的多少。A.测量B.测验C.
方差分析用于统计推断的情况是A.两个以上样本均数有无差异性的检验B.两个或两个以上样本率的比较C.资料不满足参数检验条件时的检验D.两个样本均数有无差异性的检验
运用二叉树方法对期权估价时,期数增加,要调整价格变化的升降幅度,以保证年收益率的标准差不变。这里的标准差是指( )。A.标的资产年复利收益率的标准差 B.