首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
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
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
admin
2016-01-05
29
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%.
The estimates in Economic Outlook show that in rich countries
选项
A、heavy industry becomes more energy-intensive.
B、income loss mainly results from fluctuating crude oil prices.
C、manufacturing industry has been seriously squeezed.
D、oil price changes have no significant impact on GDP.
答案
D
解析
细节题。根据题干定位到第四段。由“The OECD estimates in its latest Economic outlookthat,if oil prices averaged $22 a barrel for a full year,compared with $13 in 1998,this wouldincrease the oil import bill in rich economies by only 0.25%-0.5% of GDP.”可以看出,石油价格的变化也只会使发达国家的石油进口在支出上增加GDP的0.25%~O.5%,因此D项“石油价格对于GDP没有显著的影响”正确。A项“重工业变得非常能源密集”,第四段第二句中提及了heavy,energy—intensive industries have reduced oil consumption,但是原文说的是重工业减少了对能源的消耗.而不是变得能源密集。因此排除该选项。B项“收入损失主要来源于原油价格的浮动”。这在原文没有提及,故排除。C项“制作工业已经被严重浓缩了”。第四段末句确实提到了“so could be more seriously squeezed”,可是这和制作工业没什么联系,故排除。
转载请注明原文地址:https://jikaoti.com/ti/5zZ7FFFM
0
考研英语一
相关试题推荐
Foodandoxygenpasseasilyfrommothertofetus(anunbornbaby).Nowitseemsthatfleetingsadnessorhappinessisalso【B1】___
Anecosystemisagroupofanimalsandplantslivinginaspecificregionandinteractingwithoneanotherandwiththeirphysic
Anecosystemisagroupofanimalsandplantslivinginaspecificregionandinteractingwithoneanotherandwiththeirphysic
AsAmericamovesintothe21stcentury,thechangingcompositionoftheworkforcewillbecomemoreevidenttoboththegeneralp
AsAmericamovesintothe21stcentury,thechangingcompositionoftheworkforcewillbecomemoreevidenttoboththegeneralp
Formanyyears,collegesanduniversitiesacrosstheUnitedStateshavesoughttoincreasethenumbersofAfricanAmerican,Hisp
Formanyyears,collegesanduniversitiesacrosstheUnitedStateshavesoughttoincreasethenumbersofAfricanAmerican,Hisp
"Bah!Humbug",wasScrooge’sopinionofcharitablegivingandeventodaysomeeconomistsreckoncharitygoesagainsteconomicra
TheInternet,e-commerceandglobalizationaremakinganeweconomicerapossible.Bythemiddleofthe21stcentury,capitalis
PoliceinthepopularresortcityVirginiaBeachrecentlybeganoperatingvideosurveillancecameraswithcontroversialfacerec
随机试题
抗日战争进入相持阶段后,日本帝国主义对国民党政府采取的方针是________。
多效蒸发的目的是为了提高拔出率
A.血管平滑肌对儿茶酚胺的反应降低B.体内水潴留C.ACTH降低D.血糖水平升高肾上腺切除的动物
[2005年第117题]火灾自动报警系统中的特级保护对象(建筑高度超过100m的高层民用建筑),建筑物中的各避难层应每隔多少距离设置一个消防专用电话分机或电话塞孔?
我国银行业消费者权益保护基本原则有()。
下列经济业务中,属于其他综合收益的有()。
小王一月份买入某股票1000股,每股31元,在2月至4月份该股票股价出现了波动,2月份在原价的基础上上涨10%,3月份在2月份的基础上下降了8%,4月份又在3月份的基础上上涨了12%,那么4月份在原价的基础上()。
在PowerPoint中,以下关于PowerPoint幻灯片背景的说法中,错误的是()。
上官是某社兼职导游,在从事导游活动时,有损害国家利益和民族尊严的言行,根据《导游人员管理条例》规定,应()。
设f(x),g(x)在x=x0均不连续,则在x=x0处
最新回复
(
0
)