When the central bank decided to raise interest rates, many expected a sharp contraction in consumer spending. Instead, the economy continued to grow, albeit at a slower pace, prompting analysts to suggest that the initial policy shift did not, in fact, ring the death knell for small business expansion. While some sectors experienced minor losses, the overall health of the market remained remarkably resilient, indicating that credit access was only one of several factors driving entrepreneurial activity.
Based on the passage, which of the following most closely captures the meaning of the phrase 'ring the death knell'?
- Aproduce the sounding of a funeral bell
- signal the imminent demise ofAnswer
- Cdirectly cause the financial ruin of
- Dcelebrate the successful resolution of
Answer
signal the imminent demise of
The correct answer is correct because the passage explains that the economy continued to grow and the market was resilient despite the interest rate hike. Thus, the phrase 'ring the death knell' is used metaphorically to state that the policy shift did not signal the end or demise of small business expansion.
Step-by-Step Solution
Key Concept
Identifying the meaning of idioms and phrasal expressions using context clues.
Estimated Time:1m 30s