Context of Shave off
Mark Zandi, chief economist at Moody’s Analytics, says globalization shaved off 0.1% yearly inflation in the 20 years before the Trump administration’s 2018 tariffs, as manufacturers took advantage of lower costs in China and elsewhere. As production moves to higher-cost areas such as the U.S., he says annual inflation could be boosted by 0.1% to 0.3%.
Goldman Sachs has put a $1.2 trillion price tag on the climate legislation alone. Still, economists in a paper from the Brookings Institution this past spring stressed that the cost depends on factors including how the private sector responds to tax credits for clean-electricity generation and storage, the price of solar panels and wind turbines, and even whether companies can get factories permitted and connected to the electricity grid.
–Barron’s
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In the passage, the term \"boost\" is introduced to describe how annual inflation could increase by 0.1% to 0.3% as production shifts to higher-cost areas like the U.S. This use of \"boost\" clearly implies an upward impact on inflation rates.\n Given this context, when we consider the earlier statement that \"globalization shaved off 0.1% yearly inflation in the 20 years before the Trump administration\u2019s 2018 tariffs,\" we can logically deduce the meaning of \"shave off.\" It means that globalization had a moderating or reducing effect on yearly inflation, specifically decreasing it by 0.1%. Therefore, \"shave off\" signifies a decrease in inflation rates, in contrast to \"boost,\" which signifies an increase.","comments":"1","hints":"","question_order":"1","question_type":"0","question_type_new":"0","question_settings":"a:14:{s:8:\"required\";i:0;s:12:\"answerEditor\";s:4:\"text\";s:14:\"question_title\";s:70:\"Which word in the passage can be a clue to explain \u201cshave off\u201d?\u2028\";s:14:\"featureImageID\";s:0:\"\";s:15:\"featureImageSrc\";s:0:\"\";s:11:\"matchAnswer\";s:6:\"random\";s:14:\"case_sensitive\";s:0:\"\";s:16:\"image_size-width\";s:0:\"\";s:17:\"image_size-height\";s:0:\"\";s:8:\"autofill\";s:0:\"\";s:10:\"limit_text\";s:1:\"0\";s:23:\"limit_multiple_response\";s:1:\"0\";s:17:\"file_upload_limit\";s:1:\"0\";s:16:\"file_upload_type\";s:0:\"\";}","category":"","deleted":"0","deleted_question_bank":"0","answers":[["boost",0,1],["stress",0,0],["permit",0,0],["respond",0,0]]},"666":{"question_id":"666","quiz_id":"625","question_name":"","answer_array":"a:4:{i:0;a:3:{i:0;s:31:\"to reduce or moderate something\";i:1;d:0;i:2;i:1;}i:1;a:3:{i:0;s:32:\"to experience concern or anxiety\";i:1;d:0;i:2;i:0;}i:2;a:3:{i:0;s:39:\"to give permission for or to approve of\";i:1;d:0;i:2;i:0;}i:3;a:3:{i:0;s:57:\"to treat something as acceptable, forgivable, or harmless\";i:1;d:0;i:2;i:0;}}","answer_one":"","answer_one_points":"0","answer_two":"","answer_two_points":"0","answer_three":"","answer_three_points":"0","answer_four":"","answer_four_points":"0","answer_five":"","answer_five_points":"0","answer_six":"","answer_six_points":"0","correct_answer":"0","question_answer_info":"Explanation:\u00a0
In the passage, the term \"shave off\" is used metaphorically to mean that globalization had a reducing or lowering effect on yearly inflation. Specifically, it implies that globalization caused a decrease in yearly inflation rates by 0.1% in the 20 years prior to the Trump administration's 2018 tariffs. So, in this context, \"shave off\" signifies a reduction or moderation of inflation rates, as opposed to an increase.","comments":"1","hints":"","question_order":"1","question_type":"0","question_type_new":"0","question_settings":"a:14:{s:8:\"required\";i:0;s:12:\"answerEditor\";s:4:\"text\";s:14:\"question_title\";s:101:\"Which of the following BEST interprets the meaning of \u201cshave off\u201d in the passage? Use the clue\u2028\";s:14:\"featureImageID\";s:0:\"\";s:15:\"featureImageSrc\";s:0:\"\";s:11:\"matchAnswer\";s:6:\"random\";s:14:\"case_sensitive\";s:0:\"\";s:16:\"image_size-width\";s:0:\"\";s:17:\"image_size-height\";s:0:\"\";s:8:\"autofill\";s:0:\"\";s:10:\"limit_text\";s:1:\"0\";s:23:\"limit_multiple_response\";s:1:\"0\";s:17:\"file_upload_limit\";s:1:\"0\";s:16:\"file_upload_type\";s:0:\"\";}","category":"","deleted":"0","deleted_question_bank":"0","answers":[["to reduce or moderate something",0,1],["to experience concern or anxiety",0,0],["to give permission for or to approve of",0,0],["to treat something as acceptable, forgivable, or harmless",0,0]]}},"first_page":false}
