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  3. Much of continental Europe is in poor shape. True, the aggregate wealth of people is little changed and the social capital in mu

Much of continental Europe is in poor shape. True, the aggregate wealth of people is little changed and the social capital in mu

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问题     Much of continental Europe is in poor shape. True, the aggregate wealth of people is little changed and the social capital in museums, parks and other amenities is still intact. Yet, in the western part, the economy is failing society. Inclusion of ethnic minorities and youth in the economy is more lacking than ever. Among those who do participate, fewer are prospering. It is a measure of the decline that, in almost every country, the growth of wage rates has steadily slowed since 1995. What has gone wrong?
    European economists speak of a loss of competitiveness in southern Europe. They suggest that output and employment are down, relative to the past trend, because wages leapt ahead of productivity, making labour too expensive and forcing employers to cut back. Taking this perspective, some German economists argue that wages need to fall in the affected economies. Others argue instead for monetary stimulus—for instance, asset purchases by central banks—to raise prices and make current wage rates affordable.
    Economists of a classical bent lay a large part of the decline of employment, and thus lagging output, to a contraction of labour supply. And they lay that contraction largely to outbreaks of fiscal profligacy—as happened in Europe from the mid-1990s to the mid-2000s. Disciples of Keynes, who focus on aggregate demand, view any increase in household wealth as raising employment because they say it adds to consumer demand. They say Europe needs a lot more fiscal "profligacy" if it is to bring unemployment down. Some evidence favours the classics.
    Yet both sides of this debate miss the critical force at work. The main cause of Europe’s deep fall—the losses of inclusion, job satisfaction and wage growth—is the devastating slowdown of productivity that began in the late 1990s and struck large swathes of the continent. It holds down the growth of wages rates and it depresses employment.
    That slowdown resulted from narrowing innovation. Even in the postwar years, innovation in Europe was feeble by past standards. In the aftermath of the financial crisis, much of Europe is still suffering a slump on top of its post-1990s fall. The slump will pass but the fall will not be easily overcome. The continent is losing its best talent. It needs to fight for an economic life worth living.
Which of the following is NOT true according to Paragraph 3?
选项 A、The outbreaks of fiscal profligacy are regarded as the cause of labour-supply’s contraction.
B、Disciples of Keynes attach more importance to aggregate demand.
C、More fiscal "profligacy" is helpful to bring unemployment down.
D、There is no evidence to support the opinions of classics.
答案D
解析 根据题干关键词定位到第三段。此题可采用排除法。A项“财政挥霍的爆发被认为是劳动力供应缩减的原因”与And they lay that contraction largely to outbreaks of fiscalprofligacy相符；B项“凯恩斯的门徒更注重总需求”与Disciples of Keynes，who focus onaggregate demand相符：C项“更多的财政挥霍有利于降低失业率”与They say Europe needsa lot more fiscal“profligacy”if it is to bring unemployment down．相符；故此三项可排除。D项“没有证据支持古典经济学家的观点”与Some evidence favours the classics．不符，故D项为正确答案。
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