Choose the correct answer to complete each gap in the following passage:
Economists told CBS News that higher energy costs could continue to push up other prices this year, such as apparel and food, in part because a sharp
1.
Explanation
Correct Answer:spike
A “spike” refers to a sudden, sharp increase. The context mentions “higher energy costs” and “raising transportation costs,” which implies a dramatic upward movement.
Why others don’t fit:Creep implies a very slow, gradual movement; dip means a decrease; edge means the outer or furthest point of something.
in diesel prices is raising transportation costs. Airlines are already offsetting higher fuel costs by raising airfares and, in some cases,
2.
Explanation
Correct Answer:introducing
This follows the parallel structure of the sentence: “offsetting… by raising airfares and… introducing fees.” Both are gerunds acting as objects of the preposition “by.”
Why others don’t fit:To introduce (infinitive), being introduced (passive), and has introduced (perfect tense) break the grammatical parallelism.
checked bag fees. Airline fares rose 14.9%
3.
Explanation
Correct Answer:on
“On a(n)… basis” is an expression used for describing frequency. In this context, “on an annual basis” means “compared to the same period last year.”
Why others don’t fit:At, of, and to are not used with the phrase “annual basis” in this context.
an annual basis in March, according to the consumer price index (CPI) data.
In an email following the release of the report of CPI data, Bernard Yaros, lead U.S. economist at Oxford Economics, said the April CPI reading will be “uncomfortably strong” as higher gas prices and a statistical quirk from the government shutdown, which disrupted data collection, add upward pressure to inflation. “A key
4.
Explanation
Correct Answer:wildcard
In card games, a wildcard is a playing card that does not have any particular value but that can be used to represent any other card. In this context, a “wildcard” is an unpredictable factor that could change the outcome of a situation. The Iran war is unpredictable, making it a wildcard for inflation.
Why others don’t fit:Blackjack is a card game; sandbox is a testing environment; goalpost is used in the idiom “moving the goalposts” (changing rules).
in the outlook for both inflation and monetary policy is the duration and intensity of the Iran war, which still
5.
Explanation
Correct Answer:hasn’t been resolved
This uses the Present Perfect Passive (hasn’t been resolved). It describes a state that started in the past and continues to the present (the war is still not over).
Why others don’t fit:Won’t resolve is future; wouldn’t be resolved is conditional; hadn’t resolved is past perfect (which would imply it was resolved later, which isn’t the case here).
by the tenuous ceasefire,” he said.
6.
Explanation
Correct Answer:While
In this context, “While” functions as a Concessive Conjunction meaning “Although”. It acknowledges one fact (inflation is worrisome) before introducing a contrasting, more positive point (the situation is different than 2022).
Why others don’t fit:Even needs “though” to work; Since implies cause/reason; When implies time.
the jump in inflation may be worrisome, Yaros said the U.S. is in a different situation than in 2022, when economic pressures
7.
Explanation
Correct Answer:from
We use “pressures from [source]” to indicate the origin of the stress. The pandemic and the invasion are the sources of the economic pressure.
Why others don’t fit:On, in, and about do not link the “pressure” to its “origin” in this specific phrase.
the pandemic and Russia’s invasion of Ukraine pushed inflation to a 9.1%
8.
Explanation
Correct Answer:peak
In economics, a “peak” is the highest point of a cycle or a statistic before it begins to fall. 9.1% was the highest point of inflation in 2022.
Why others don’t fit:Trough is a low point in a regular series of high and low points; top is used for the highest place or part (not the figure); rank refers to a position in a list.
in June of that year. Measures of global supply-chain stress ”
9.
Explanation
Correct Answer:flashing red
This is an imagery derived from warning lights. If a signal is flashing red, it means there is an emergency or a severe problem.
Why others don’t fit:Going green usually refers to environmentalism; turning blue relates to cold or lack of oxygen; painting white simply refers to painting something in white colour.
,” Yaros said, adding that the labor market hasn’t created additional inflationary pressure, as was the case in 2022. In the wake of higher gasoline prices, households will eventually have to
10.
Explanation
Correct Answer:cut back on
This phrasal verb means to reduce the amount of money spent on something. If gas prices are high, people have less money and must “cut back on” other spending.
Why others don’t fit:Put down to means to attribute a cause; take up with means to begin a relationship or discuss an issue; stand in for means to substitute for someone.
non-discretionary expenses, which could be a source of disinflation, he added.
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