• 2022-05-29
    (2016.12-3.2)55.Sara Johnson acknowledges that the global economic benefit from a fall in oil prices today is likely lower than it was in the past. One reason is that more countries are big oil producers now, so the nations suffering from the price drop account for a larger share of the global economy.Consumers, in the U.S. at least, are acting cautiously with the savings they're getting at the gas pump, as the memory of the recent great recession is still fresh in their mind. And a number of oil-producing countries are trimming their gasoline subsidies and raising taxes, so the net savings for global consumers is not as big as the oil price plunge might suggest.55. Why haven't falling oil prices boosted the global economy as they did before?
    A: A) People are not spending all the money they save on gas.
    B: B) The global economy is likely to undergo another recession.
    C: C) Oil importers account for a larger portion of the global economy.
    D: D) People the world over are afraid of a further plunge in oil prices.
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