首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Inflation Inflation, as an economic phenomenon, is a sufficient condition for an increase in price, but not a necessary one.
Inflation Inflation, as an economic phenomenon, is a sufficient condition for an increase in price, but not a necessary one.
admin
2015-07-27
337
问题
Inflation
Inflation, as an economic phenomenon, is a sufficient condition for an increase in price, but not a necessary one. The lecturer intends to shed some light on inflation from the following perspectives:
I. Significant Periods of Inflation over the Last 400 years
A. in the 16th century
cause: introduction of 【B1】______ 【B1】______
B. after major wars
— Napoleonic Wars and World Wars I and II
C. from 【B2】______ to 1970s 【B2】______
— creeping inflation occurred in America and Western
Europe.
II. Countries Suffered from Inflation besides the U.S.
A. Israel
— prices of necessities 【B3】______ doubled every year. 【B3】______
B. Argentina
— prices quadrupled in 1975, and kept increasing.
C. 【B4】______ 【B4】______
— money as worthless as paper
D. Hungary
— no better than Germany of 1923 after World War II
III. Effects of Inflation
A. on money management
Borrowing gets more appealing than saving.
— those who suffer: salary man, lenders, 【B5】______ savings 【B5】______
and loan associations
— those who profit: borrowers
B. on investment
Money goes to 【B6】______ goods and properties. 【B6】______
— purpose: to keep value
C. on lifestyle
People tend to overdraw 【B7】______ in the society for immediate 【B7】______
happiness..
IV. Causes of Inflation
A. excessive money printed by governments
1. purpose: to offset 【B8】______ expenditure and peacetime 【B8】______
spending
2. result:
— consumption is stimulated
— prices are raised
B. special interest groups’ encouragement
1 .manner — to encourage government through 【B9】______ power 【B9】______
2. result — inflationary policies are implemented.
C. 【B10】______ of common people 【B10】______
【B8】
Inflation
Good morning, everyone. Today’s lecture is about inflation. In the 1970s the prices of most things Americans buy more than doubled. Such a general increase in prices is called inflation. Prices of selected goods may increase for reasons unrelated to inflation: the price of fresh lettuce may rise because unseasonably heavy rainfall in California has ruined the lettuce crop, or the price of gasoline may rise if the oil-producing countries set a higher price for oil. During inflation, however, all prices tend to rise. Now, we’ll discuss in detail significant periods of inflation, countries suffered from inflation, its effects on our life and major causes of inflation.
Over the last 400 years there have been many periods of inflation. [1] In the 16th century, when the Spaniards began bringing back gold and silver from the New World, prices in Western Europe moved upward as the supply of money increased. During the 19th century prices tended to go downward as food and raw materials became cheaper. After major wars such as the Napoleonic Wars and World War I and II, prices again moved upward. [2] In the 1950s and 1960s a so-called creeping inflation occurred, when the general price level in the United States and Western Europe rose by an average of 1 to 5 percent each year. In the 1970s inflation increased until it reached as much as 13 percent a year in the United States.
Many countries have suffered from inflation more than has the United States. [3] Israel had inflation of more than 100 percent a year in the early 1980s, meaning that the cost of living more than doubled every year. In Argentina inflation was greater than 400 percent in 1975 and averaged more than 100 percent each year from 1976 to 1982. [4] The most remarkable inflation in modern times was the German hyperinflation of 1923, when people went to the store with wheelbarrows full of money to buy a few groceries. A similar hyperinflation occurred in Hungary after World War II.
Inflation has been defined as "too much money chasing too few goods". As prices rise, wages and salaries also have a tendency to rise. More money in people’s pockets causes prices to rise still higher so that consumers never quite catching up. Inflation can go on continuously year after year so long as the money supply continues to increase. Continued inflation affects people in diverse ways. Those who live on fixed incomes, or those whose incomes increase very slowly, suffer most from inflation because they are able to buy less and less. Those who lend money when prices are lower may be paid back in dollars of reduced purchasing power. [5] Banks and savings and loan associations generally lose from inflation. People who borrow money, however, may profit by paying their debts in dollars that have shrunk in purchasing power. Inflation thus encourages borrowing and discourages saving. [6] It also leads people to buy real estate and durable goods that will keep their value over time. In the United States this tendency is reinforced by the tax system, which allows taxpayers to deduct property taxes and interest payments from their taxable incomes. If inflation continues for a long time, the country as a whole may begin to consume more and invest less as people find it more profitable to borrow than to save. [7] In other words inflation causes society to use more of its resources for today’s purposes and to set aside less for tomorrow’s needs.
Inflation has many causes, but they all operate to raise the demand for goods and services beyond the capacity of the economy to satisfy that demand.
[8] Often inflation follows a war, when the government has spent vast sums on military equipment and has not raised taxes enough to pay for it. Heavy government spending in peacetime may also lead to inflation. The principal reason why governments create inflation is that they are able to print money. When a government pays its bills by printing money rather than by raising taxes, the effect is to increase the demand for goods and services. If demand is already high, increasing it will only push up the prices of those goods and services.
But the government may not be the only player in the inflation scenario.
[9] Citizens, through their voting power, encourage the government to follow inflationary policies. In the United States special interest groups often exert pressure on Congress for programs that will benefit them at the expense of the treasury. Few taxpayers actually ask their Congressional representatives to raise taxes. Government deficits in themselves do not necessarily lead to inflation, but they make it more difficult to prevent inflation or to slow it down. [10] Another part in the scenario is played by people’s efforts to protect themselves from the effects of inflation. Consumers want their incomes to increase so as to keep up with rising prices. Those who belong to unions may put pressure on employers to raise wages, a factor that tends to force up prices still further. Those who lend money expect to be paid back in inflation-adjusted dollars. Retired people want their social security and other pension payments to increase with the cost of living. As inflation continues, people expect it to become even worse and try to compensate for it in advance. The simple expectation of inflation thus helps to keep it going.
OK, this is the end of today’s lecture. I hope you’ve had a general view about inflation after the lecture. Alright, thank you for your attention, see you next week.
选项
答案
military
解析
本题涉及引发通货膨胀的第一个原因——政府过量发行货币。而政府之所以这么做是因为税收无法弥补战争带来的军用开支与和平时期的巨大开支,所以本空应该填military。
转载请注明原文地址:https://kaotiyun.com/show/2rOO777K
0
专业英语八级
相关试题推荐
Mergersandtakeoversmeantheactivitiesthattwoormorebusinessesjointogetherandoperateasoneorganization.Mergersus
Asthe20thcenturybegan,theimportanceofformaleducationintheUSincreasedThefrontierhadmostlydisappearedandin191
Accordingtolegend,theancientOlympicGameswerefoundedbyHeracles,asonofZeus.YetthefirstOlympicGamesforwhich
Thenatureoflanguageisthenatureofhumanthoughtandhumanaction,forlanguageisnomorenorlessthanthetoolofboth
WhoisconsideredtobethegreatestEnglishdramatistsinceShakespeare?
ItusedtobesaidthatEnglishpeopletaketheirpleasuresadly.Nodoubtthiswouldstillbetrueiftheyhavehadanyple
Historianshaveonlyrecentlybeguntonotetheincreaseindemandforluxurygoodsandservicestookplaceineighteenth-centur
Literatureisameansbywhichweknowourselves.Byitwemeet【M1】______futureselves,andrecognizepastselves;aga
HowtoConquerPublicSpeakingFearI.IntroductionA.Publicspeaking—acommonsourceofstressforeveryoneB.Thetruthabou
WhichdayisLincoln’sBirthday?
随机试题
经间期出血的总的治疗原则是
某施工单位与某房地产开发公司签订工程承包合同,该施工单位承建房地产开发公司开发的某住宅小区的建设项目。该工程承包合同法律关系的客体是()。
下列关于表见代理的说法,正确的是()。
“备案号”栏应填:“运费”栏应填:
商业银行对于一些虽然发生的概率很低,但无力控制的操作性风险,如自然灾害等,所采取的措施不包括()。
兄弟公司是一家上市公司,该公司2016年和2017年的主要财务数据以及2018年的财务计划数据如下表所示(单位:万元):假设公司产品的市场前景很好,销售额可以大幅增加,贷款银行要求公司的资产负债率不得超过60%。董事会决议规定,以权益净利率高低作为管理
成都银丝工艺品的代表作有()。
下列属于发现教学的优点的是()。
9个空瓶合起来可以换2瓶汽水,某旅游团喝了263瓶汽水,其中有一些是用喝剩下来的空瓶换的,那么他们至少要买多少瓶汽水?
Itisreportedthatbagsaregettingbiggerallthetime,andthattherearemorebagsperpersononthestreettodaythanat
最新回复
(
0
)