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 price 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 timeThe 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 estimated 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 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
Comparisons were drawn between the development of television in the 20th century and the diffusion of printing in the 15th and 16th centuries. Yet much had happened (21) . As was discussed before, it was not (22) the 19th century that the newspaper became the dominant pre-electronic (23) , following in the wake of the pamphlet and the book and in the (24) of the periodical. It was during the same time that the communications revolution (25) up, beginning with transport, the railway, and leading (26) through the telegraph, the telephone, radio, and motion pictures (27) the 20th-century world of the motor car and the air plane. Not everyone sees that process in (28) . It is important to do so.It is generally recognized, (29) , that the introduction of the computer in the early 20th century, (30) by the invention of the integrated circuit during the 1960s, radically changed the process, (31) its impact on the media was not immediately (32) . As time went by, computers became smaller and more powerful, and they became "personal" too, as well as (33) , with display becoming sharper and storage (34) increasing. They were thought of, like people, (35) generations, with the distance between generations much (36) .It was within the computer age that the term "information society" began to be widely used to describe the (37) within which we now live. The communications revolution has (38) both work and leisure and how we think and feel both about place and time, but there have been (39) view about its economic, political, social and cultural implications. "Benefits" have been weighed (40) "harmful" outcomes. And generalizations have proved difficult. 34().
A. ability
B. capability
C. capacity
D. faculty
第二篇 Saving Money Where you save your money often depends on what you are saving for. If you are saving to buy a dictionary or to go to a concert, then probably keep your money somewhere in your room. if you are saving for a big purchase like a mountain bike or a school trip, where would you save your money One place to save money is the bank. Putting your money in a savings account will help your money earn more money. If you put your money in a piggy bank (猪形储蓄罐), one year later you’ll still have the same amount of money you put in. If you put your money in a savings account, one Year later, you’ll have more money than you put in. Why When you keep your money in a bank, your money earns interest. Interest is the amount of money a bank pays you to use your money. The bank uses your money (and the money of other people, too) to loan money to people and businesses. The bank will send you a statement several times a year. A bank statement tells you how much money there is in your account. It also tells you how much interest you have earned. If you leave your money in the bank, you can watch it growl Another way you can save money is to buy a certificate of deposit or CD. If you have some money that you don’t need to use for a long time, this is a good way to make your money grow. You can buy a CD at a bank. You agree not to use the money for a certain period of time. That period might be from six months to five years. You can’t touch your money during that time. If you do, you must pay a penalty, or fee. Since the bank is using your money for that time period, it will pay you interest. You will earn more interest with a CD than in a savings account. Can you guess why It’s because you promise to leave your money in the bank for a certain period of time. Banks pay different rates of interest. So, you may want to compare rates in newspaper ads before buying a CD. The word "touch" in paragraph 7 could be best replaced by
A. "deposit".
B. "work".
C. "use".
D. "cash".
第二篇 Saving Money Where you save your money often depends on what you are saving for. If you are saving to buy a dictionary or to go to a concert, then probably keep your money somewhere in your room. if you are saving for a big purchase like a mountain bike or a school trip, where would you save your money One place to save money is the bank. Putting your money in a savings account will help your money earn more money. If you put your money in a piggy bank (猪形储蓄罐), one year later you’ll still have the same amount of money you put in. If you put your money in a savings account, one Year later, you’ll have more money than you put in. Why When you keep your money in a bank, your money earns interest. Interest is the amount of money a bank pays you to use your money. The bank uses your money (and the money of other people, too) to loan money to people and businesses. The bank will send you a statement several times a year. A bank statement tells you how much money there is in your account. It also tells you how much interest you have earned. If you leave your money in the bank, you can watch it growl Another way you can save money is to buy a certificate of deposit or CD. If you have some money that you don’t need to use for a long time, this is a good way to make your money grow. You can buy a CD at a bank. You agree not to use the money for a certain period of time. That period might be from six months to five years. You can’t touch your money during that time. If you do, you must pay a penalty, or fee. Since the bank is using your money for that time period, it will pay you interest. You will earn more interest with a CD than in a savings account. Can you guess why It’s because you promise to leave your money in the bank for a certain period of time. Banks pay different rates of interest. So, you may want to compare rates in newspaper ads before buying a CD. If you draw your money before it is due,
A. you have to pay interest to the bank.
B. you have to close your account.
C. you have to open a new account.
D. you have to pay a penalty or fee.