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We can draw a conclusion from the text that______.
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
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更多 “ We can draw a conclusion from the text that______.A) oil-price shocks are less shocking nowB) inflation seems irrelevant to oil -price shocksC) energy conservation can keep down the oil pricesD) the price rise of crude leads to the shrinking of heavy industry ” 相关考题
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in the 1 970s，with the soaring price of oil and high rates of inflation，britain went through a bad period.in 1 979，the labour party had to step down from the government. ()
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Text 4Could 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 tri- pled. Both previous shocks resulted in double - digit inflation and global economic decline. So there are the headlines warning of gloom and doom this time?The oil price was given another push up this week when Iraq suspended oil experts. Strengthening economic growth, al the' same time as winter grips the northern hemisphere, could push the price higher still in the short Item.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, tuxes 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, 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 se could he more seriously squeezed.One more reason net 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%.36. The main reason for the latest rise of oil price is______.A) global inflationB) reduction in supplyC) fast growth in economyD) Iraq' s suspension of exports
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It can be inferred from the text that the retail price of petrol will go up dramatically if______.A) price of crude risesB) commodity prices riseC) consumption risesD) oil taxes rise
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The estimates in Economic Outlook show that in rich countries______.A) heavy industry becomes mare energy-intensiveB) income loss mainly results from fluctuating crude oil. pricesC) manufacturing industry has been seriously squeezedD) oil price changes have no significant impact on GDP
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Text 3 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%.第51题：The main reason for the latest rise of oil price isA global inflation.B reduction in supply.C fast growth in economy.D Iraq's suspension of exports.
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It can be inferred from the text that the retail price of petrol will go up dramatically ifA price of crude rises.B commodity prices rise.C consumption rises.D oil taxes rise.
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The estimates in Economic Outlook show that in rich countriesA 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.
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We can draw a conclusion from the text thatA 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.
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,when they also almost tripled.Both previous shocks resulted in double一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 oil 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.S%of GDP. That is less than one-quarter of the income loss in 1974 or 1980.On the other hand,oil-importing emerging economies一to which heavy industry has shifted一have become more energy一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______.A:heavy industry becomes more energy-intensiveB:income loss mainly results from fluctuating crude oil pricesC:manufacturing industry has been seriously squeezedD:oil price changes have no significant impact on GDP
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,when they also almost tripled.Both previous shocks resulted in double一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 oil 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.S%of GDP. That is less than one-quarter of the income loss in 1974 or 1980.On the other hand,oil-importing emerging economies一to which heavy industry has shifted一have become more energy一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%.We can draw a conclusion from the text that______.A:oil-price shocks are less shocking nowB:inflation seems irrelevant to oil-price shocksC:energy conservation can keep down the oil pricesD:the price rise of crude oil leads to the shrinking of heavy industry
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,when they also almost tripled.Both previous shocks resulted in double一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 oil 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.S%of GDP. That is less than one-quarter of the income loss in 1974 or 1980.On the other hand,oil-importing emerging economies一to which heavy industry has shifted一have become more energy一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 main reason for the latest rise of oil price is______.A:global inflationB:reduction in supplyC:fast growth in economyD:Iraq's suspension of exports
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,when they also almost tripled.Both previous shocks resulted in double一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 oil 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.S%of GDP. That is less than one-quarter of the income loss in 1974 or 1980.On the other hand,oil-importing emerging economies一to which heavy industry has shifted一have become more energy一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%.From the text we can see that the writer seems______.A:optimistic B:sensitiveC:gloomy D:scared
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,when they also almost tripled.Both previous shocks resulted in double一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 oil 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.S%of GDP. That is less than one-quarter of the income loss in 1974 or 1980.On the other hand,oil-importing emerging economies一to which heavy industry has shifted一have become more energy一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%.It can be inferred from the text that the retail price of petrol will go up dramatically in Europe if______.A:price of crude risesB:commodity prices riseC:consumption risesD:oil taxes rise
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InflationBusiness and government leaders also consider the inflation rate to be an important general indicator. Inflation is a period of increased spending that causes rapid rises in prices._______(51)your money buys fewer goods so that you get_______(52)for the same amount of money as before,inflation is the problem. There is a general rise_______(53)the price of goods and services.Your money buys less.Sometimes people describe inflation as a time when"a dollar is not worth a dollar anymore".Inflation is a problem for all consumers.People who live on a fixed income are hurt the _______(54).Retired people,for instance,cannot count on an increase in income as prices rise. Elderly people who do not work face serious problems in stretching their incomes to_______(55) their needs in time of inflation.Retirement income_______(56)any fixed income usually does not rise as fast as prices.Many retired people must cut their spending to_______(57)rising prices.In many cases they must stop_______(58)some necessary items,such as food and clothing. Even _______(59)working people whose incomes are going up,inflation can be a problem. The_______(60)of living goes up,too. People who work must have even more money to keep up their standard of living. Just buying the things they need costs more.When incomes do not keep _______(61)with rising prices,the standard of living goes down.People may be earning the same amount of money,but they are not living as well because they are not able to buy as many goods and services.Government units gather information about prices in our economy and publish it as price indexes _______(62)the rate of change can be determined.A price index measures changes in prices using the price for a_______(63)year as the base.The base price is set at 100,and the other prices are reported as a_______(64)of the base price.A price index makes_______(65)possible to compare current prices of typical consumer goods,for example,with prices of the same goods in previous years._________(62)A:in which B:from whichC:of which D:by which
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,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 l970s.In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the l970s.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(inconstant prices)in 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一to which heavy industry has shifted一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%.It can be inferred from the text that the retail price of petrol will go up dramatically if_______.A:price of crude risesB:commodity prices riseC:consumption risesD:oil taxes rise
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InflationBusiness and government leaders also consider the inflation rate to be an important general indicator. Inflation is a period of increased spending that causes rapid rises in prices._______(51)your money buys fewer goods so that you get_______(52)for the same amount of money as before,inflation is the problem. There is a general rise_______(53)the price of goods and services.Your money buys less.Sometimes people describe inflation as a time when"a dollar is not worth a dollar anymore".Inflation is a problem for all consumers.People who live on a fixed income are hurt the _______(54).Retired people,for instance,cannot count on an increase in income as prices rise. Elderly people who do not work face serious problems in stretching their incomes to_______(55) their needs in time of inflation.Retirement income_______(56)any fixed income usually does not rise as fast as prices.Many retired people must cut their spending to_______(57)rising prices.In many cases they must stop_______(58)some necessary items,such as food and clothing. Even _______(59)working people whose incomes are going up,inflation can be a problem. The_______(60)of living goes up,too. People who work must have even more money to keep up their standard of living. Just buying the things they need costs more.When incomes do not keep _______(61)with rising prices,the standard of living goes down.People may be earning the same amount of money,but they are not living as well because they are not able to buy as many goods and services.Government units gather information about prices in our economy and publish it as price indexes _______(62)the rate of change can be determined.A price index measures changes in prices using the price for a_______(63)year as the base.The base price is set at 100,and the other prices are reported as a_______(64)of the base price.A price index makes_______(65)possible to compare current prices of typical consumer goods,for example,with prices of the same goods in previous years._________(52)A:much B:littleC:more D:less
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,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 l970s.In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the l970s.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(inconstant prices)in 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一to which heavy industry has shifted一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%.We can draw a conclusion from the text that_______.A:oil-price shocks are less shocking nowB:inflation seems irrelevant to oil-price shocksC:energy conservation can keep down the oil pricesD:the price rise of crude leads to the shrinking of heavy industry
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,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 l970s.In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the l970s.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(inconstant prices)in 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一to which heavy industry has shifted一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_______.A:heavy industry becomes more energy-intensiveB:income loss mainly results from fluctuating crude oil pricesC:manufacturing industry has been seriously squeezedD:oil price changes have no significant impact on GDP
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,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 l970s.In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the l970s.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(inconstant prices)in 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一to which heavy industry has shifted一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%.From the text we can see that the writer seems_______.A:optimistic B:sensitiveC:gloomy D:scared
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第三篇Oil and EconomyCould the bad old days of economic decline be about to return?Since OPEC agreed to supplycuts 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 1979一1980,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 l970s.In most countries the cost of crude oil now accounts for a smaller share of the price of petrol than it did in the l970s.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(inconstant prices)in 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一to which heavy industry has shifted一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 main reason for the latest rise of oil price is_______.A:global inflationB:reduction in supplyC:fast growth in economyD:Iraq's suspension of exports
考题
单选题The estimates in Economic Outlook show that in rich countries ______.A
heavy industry becomes more energy-intensiveB
income loss mainly results from fluctuating crude oil pricesC
manufacturing industry has been seriously squeezedD
oil price changes have no significant impact on GDP
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问答题Directions:In this section, there is one passage followed by 5 questions. Read the passage carefully, then answer the questions in a maximum of 10 words. Remember to write the answers on the Answer Sheet. Questions 1-5 are based on the following passage. 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 1979-1980, 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%. Questions: 1．What is the main reason for the latest rise of oil price? 2．What are the results of the 1970s’ oil shock? 3．It can be inferred from the text that the retail price of petrol will go up dramatically if ________. 4．According to the passage, reduction in oil consumption is due to ________, a shift to other fuels and a decline in the importance of heavy, energy-intensive industries. 5．According to the passage, compared with those in the 1970s, oil-price shocks are ________ now.
考题
单选题The estimates in Economic Outlookshow that in rich countries ______.A
heavy industry becomes more energy-intensiveB
income loss mainly results from fluctuating crude oil pricesC
manufacturing industry has been seriously squeezedD
oil price changes have no significant impact on GDP
考题
单选题It can be inferred from the text that the retail price of petrol will go up dramatically if ______.A
price of crude risesB
commodity prices riseC
consumption risesD
oil taxes rise
考题
单选题We can draw a conclusion from the text that ______.A
oil-price shocks are less shocking nowB
inflation seems irrelevant to oil-price shocksC
energy conservation can keep down the oil pricesD
the price rise of crude leads to the shrinking of heavy industry
考题
单选题From the text we can see that the writer seems ______.A
optimisticB
sensitiveC
gloomyD
scared
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