[单项选择]

The Rising Oil Price

Could the bad old days of economic decline be about to return Since OPEC agreed to sup-ply-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 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 dame 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
A. global inflation
B. reduction in supply
C. fast growth in economy
D. Iraq’s suspension of exports

[单项选择]
Could the bad old days of economic decline be about to return Since OPEC agreed to sup-ply-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 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 dame 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
A. price of crude rises
B. commodity prices rise
C. consumption rises
D. oil taxes rise

[单项选择]
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 t
A. global inflation
B. reduction in supply
C. fast growth in economy
D. Iraq’s suspension of exports

[单项选择]

Passage Three
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.
A. global inflation,
B. reduction in supply.
C. fast growth in economy.
D. Iraq’s suspension of exports.