percent.The unemployment rate in the U.S.hasn't gone up.It was 5.8 percent in 1979 and 5.6 percent in 1995. Job creation requires three things:(1)the economy must grow fast enough so that companies want more workers;(2)hiring must be profitable-if labor costs are too high, firms won't hire even if demand is strong;and (3)people must be willing to work.On all counts,the US economy outperforms the European: (1)Economic growth:Between 1979 and 1995,the US economy grew at an annual average rate of 2.4 percent;the European Union's (EU)economy grew on 2.1 percent annually. (2)Labor costs:Europe's rises faster than America's despite high unemployment. Between 1983 and 1993,compensation per worker wages plus fringes)jumped 6.3 percent annually in EU;the comparable U.S.increase was 4.2 percent. (3)Work effort:Americans work harder,because the alternative-being supported by government-isn't attractive.Interestingly,initial U.S.and European unemployment benefits are similar.They typically replace about 50 to 70 percent of an average worker's wages.But after some joblessness,U.S.benefits go down sharply while European countries continue to provide support. All Europe's disadvantages feed each other.Higher labor costs deter hiring.Steep payroll taxes do the same.America's advantages are also reinforcing.The business climate is more favorable than that in Europe.American corporations are consistently more profitable. It is the economic culture that counts.America still embraces the market culture:its obsession with growth,its striving for wealth and tolerance of inequality,its acceptance of change.Europe is more inclined to reshape market culture through government regulation. While government involvement does much good,too much of it can hinder economic growth. Complete the following statements by choosing the best from the answers A,B or C.Write A,B or C on your Answer Sheet. 31.Which of the following would be the best peacetime version of Stimson's remark? A.Business is a powerful job machine. B.Business must make more money in peacetime. C:Markets should be left fairly free. 106、、 percent. The unemployment rate in the U. S. hasn' t gone up. It was 5. 8 percent in 1979 and 5. 6 percent in 1995. Job creation requires three things: (l) the economy must grow fast enough so that companies want more workers; (2) hiring must be profitable 一if labor costs are too high , firms won't hire even if demand is strong; and (3) people must be willing to work. On all counts, the US economy outperforms the European: (1) Economic growth: Between 1979 and 1995 , the US economy grew at an annual average rate of 2. 4 percent; the European Union' s (EU) economy grew on 2. 1 percent annually. (2) Labor costs: Europe' s rises faster than America' s despite high unemployment. Between 1983 and 1993 , compensation per worker ( wages plus fringes) jumped 6.3 percent annually in EU; the comparable U. S. increase was 4. 2 percent. (3) Work effort: Americans work harder, because the alternative supported by government 一isn' t attractive. Interestingly, initial U. S. and European unemployment benefits are similar. They typically replace about 50 to 70 percent of an average worker' s wages. But after some joblessness, U. S. benefits go down sharply while European countries continue to provide support. All Europe' s disadvantages feed each other. Higher labor costs deter hiring. Steep payroll taxes do the same. America's advantages are also reinforcing. The business climate is more favorable than that in Europe. American corporations are consistently more profitable. It is tJ1 e economic culture that counts. America still embraces the market culture: its obsession 叫th growth , its striving for wealth and tolerance of inequality , its acceptance of change. Europe is more inclined to reshape market culture through government regulation. While government involvement does much good , too much of it can hinder economic growth. Complete the following statements by choosing the best from the answers A , B or C. Write A , B or C on your Answer Sheet. 31. Which of the following would be the best peacetime version of Stimson's remark? A. Business is a powerful job machine. B. Business must make more money in peacetime. C Markets should be left fairly free. 106