Reading passages

153- 153-When a building is constructed from standard parts that have been well-tested..................... .

A) there is no scope for originality

B) one is still not sure how they will behave in a particular situation
C) new method of construction are overlooked
D) the costs will naturally be excessively high.
E) one knows in advance that the result will be satisfactory


Both as a profession and as a science, economics lost considerable prestige during the recession of 1974-1975. The crisis that sized the western industrialised countries, including Japan, was of a character not to be found in economics textbooks: rate of inflation exceeding 10% a year coupled with declining production and high levels of unemployment. Hitherto, peacetime inflation had been associated with high employment and an overactive economy, while high rates of employment went with the recession and depression. The next combination was aptly called stagflation.


154- The term stagflation can be defined as ........... .

A) high unemployment in spite of high levels of production

B) a decrease in the rates of inflation
C) the combination of high inflation and economic recession
D) inflation in an overactive economy
E) high levels of peacetime inflation


155- The economic crisis of the mid-1970's ............ .

A) followed the same pattern as earlier economic crisis

B) caused people to lose faith in economics
C) had little effect on the industry of developed countries
D) caused the economy to be overactive
E) was characterised only by high inflation and low production
156- The main subject of the passage is ................. .

A) the growing unpopularity of economics as a science

B) the unusual nature and the extensive effects of the economic crisis of the 1970's.
C) the relationship between unemployment and recession
D) the industrial decline of Japan and some Western countries
E) how to combat high inflation and unemployment