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
Many phrases used to describe monetary policy, such as " steering the economy to a soft landing "or "a touch on the brakes" , ma
Many phrases used to describe monetary policy, such as " steering the economy to a soft landing "or "a touch on the brakes" , ma
admin
2016-11-17
22
问题
Many phrases used to describe monetary policy, such as " steering the economy to a soft landing "or "a touch on the brakes" , makes it sound like a precise science. Nothing could be further from the truth. The relation between interest rates and inflation is uncertain. And there are long, variable lags before policy changes have any effect on the economy. Hence the analogy that likens the conduct of monetary policy to driving a car with a blackened windscreen, a cracked rearview mirror and a faulty steering wheel.
Given all these disadvantages, central bankers seem to have had much to boast about. Average inflation in the big seven industrial economies fell to a mere 2.3% one year, close to its lowest level in 30 years, before rising slightly to 2. 5% the next July. This is a long way below the double-digit rates which many countries experienced in the 1970s and early 1930s.
It is also less than most forecasters has predicted. In late 1994 the panel of economists which The Economist polls each month said that America’s inflation rate would average 3. 5% in 1995. In fact, it fell to 2.6% in August, and is expected to average only about 3% for the year as a whole. In Britain and Japan inflation is running half a percentage point below the rate predicted at the end of last year. This is no flash in the pan; over the past few years, inflation has been continually lower than expected in Britain and America.
Economists have been particularly surprised by favourable inflation figures in Britain and the United States, since conventional measures suggest that both economies, and especially that of America, have little productive slack. America’s capacity utilisation, for example, hit historically high levels earlier this year, and its jobless rate (5.6% in August) has fallen below most estimates of the natural rate of unemployment—the rate below which inflation has taken off in the past.
Why has inflation proved so mild? The most thrilling explanation is, unfortunately, a little defective. Some economists argue that powerful structural changes in the world have up-ended the old economic models which were based upon the historical link between growth and inflation.
By saying "This is no flash in the pan" (Para. 3) , the author means that "
选项
A、the low inflation rate will continue
B、the inflation rate will rise again
C、inflation will disappear entirely
D、there is no inflation at present
答案
A
解析
no flash in the pan“昙花一现”。这种低通货膨胀不是昙花一现,即低通货膨胀还会继续。
转载请注明原文地址:https://kaotiyun.com/show/GyRd777K
本试题收录于:
公共英语四级笔试题库公共英语(PETS)分类
0
公共英语四级笔试
公共英语(PETS)
相关试题推荐
Predictionsofmanyrobotsinindustryhaveyetcometrue.Fortenyearsormore,manufacturersofbigrobotshaveexplainedhow
WhydosomanyAmericansdistrustwhattheyreadintheirnewspapers?TheAmericanSocietyofNewspaperEditorsistryingtoans
Inafewweeks,nighschoolstudentsfacetheprospectoftakingthemuch-publicizednewSATReasoningTest,whichforthefirst
Thetraditionaldistinctionbetweenproductsthatsatisfyneedsandthosethatsatisfywantsisnolongeradequatetodescribec
WhatbreaksupIndonesians’extendedfamilyliving?
Inhowmanyweeksarethestudents’researchpapersdueaccordingtotheteacher?
FamilyrelationshavechangedinrecentyearsinChina,aswehavemoreandmoreone-childfamilies.Theonlychildinthefamil
Applecomputerintroduceditspioneering,user-friendlyMackintoshcomputerin1984.The"Mac"quicklybecamepopularandappeare
Applecomputerintroduceditspioneering,user-friendlyMackintoshcomputerin1984.The"Mac"quicklybecamepopularandappeare
随机试题
下列图形中球阀是()。
结核性脑膜炎脑脊液多核白细胞多仅见于早期病例。()
金瓷结合界面处理恰当与否关系到金瓷结合强度,因此严格的进行正确的处理才能保证PFM冠的质量。PFM基底冠在预氧化处理中不正确的是A.非贵金属在烤瓷炉内真空状态下加热形成氧化膜B.贵金属在炉内半真空状态下加热形成氧化膜C.巴非贵金属在炉内非真空状态
孕24周,第1胎,诊断妊娠期胆囊炎,第一次发作,病情较轻。治疗方案应该为下面哪种
A.阿霉素B.放线菌素DC.环磷酰胺D.丝裂霉素E.紫杉醇需先用地塞米松及组胺H1受体阻断药预防过敏反应的药物是()
对于工程监理单位的赔偿责任,下列说法中不正确的是( )。
若要维持正常的偿债能力,从长期看,已获利息倍数至少应当大于()。
保证合同不属于()。
在会议开始前,市场部助理小王希望在大屏幕投影上向与会者自动播放本次会议所传递的办公理念,按照如下要求完成该演示文稿的制作:为了实现幻灯片可以在展台自动放映,设置每张幻灯片的自动放映时间为10秒钟。
America’sFederalReservecutinterestratesbyanotherquarter-point,to3.75%.WallStreet,whichhadbeen【51】forasixthhal
最新回复
(
0
)