第23题:
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.
正确答案:
1.Reduction in supply. / Supply-cuts 依据文章第一段第二句话:“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”,可知答案为Reduction in supply或Supply-cuts。
2.Double-digit inflation and global economic decline 文章第一段第四句话提到“Both previous shocks resulted in double-digit inflation and global economic decline”,其中both previous shocks指前文提到的1973年和1979到1980年间的oil shock,可知答案为Double-digit inflation and global economic decline。
3.oil taxes rise 文章第三段第三句话提到“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”,意为:在欧洲,汽油的零售价中税占到五分之四,因此税的增加会导致汽油价格(成比例地)猛涨,而原油价格的变化带来的影响不会很大。由此可知如果油税上调,汽油零售价格将急剧上涨。因此答案为oil taxes rise。
4.energy conservation 文章第四段第二句提到“Energy conservation, a shift to other fuels and a decline in the importance of heavy, energy-intensive industries have reduced oil consumption”,由此可知答案为energy conservation。
5.less shocking 文章最后一段强调这次油价上涨与20世纪70年代的油价上涨不同,它并不是在普遍日用品价格上涨和全球需求过剩的背景下发生的,也就没有70年代那一次那么可怕,因此答案为less shocking。
解析:
暂无解析