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
The core of Greece’ s troubles is too much spending, too little tax-collecting and book-cooking. Spain and Ireland are in troubl
The core of Greece’ s troubles is too much spending, too little tax-collecting and book-cooking. Spain and Ireland are in troubl
admin
2011-05-16
86
问题
The core of Greece’ s troubles is too much spending, too little tax-collecting and book-cooking. Spain and Ireland are in trouble even if the percentage of their public debt in gross domestic product is much smaller than that of Germany. Italy, also in the financial markets’ crosshairs, has high public debt but a lower deficit than the eurozone’ s average.
The root of these countries’ problems is that their prices and wages have risen much faster than those of other eurozone members.
There are two ways to mitigate the pain. First, to adopt temporarily more expansionary fiscal policies for a while. Or, more powerfully, the wider euro area could adopt more expansionary monetary policies for several years. As to the second option, the "inflation fundamentalists" will have none of it. This elite consisting of central bankers, top economic officials, politicians, academics and journalists insists that it is unacceptable to allow inflation to climb above two percent.
Hyper-inflation in Germany in the 1930s and stagflation in industrial countries in the 1970s and 1980s support their view. It’ s true that moderate inflation can creep up to become high inflation. But inflation fundamentalism can also hurt. There is little if any empirical evidence that moderate inflation hurts growth. In most countries, cutting actual wages is politically difficult if not impossible. But, to regain competitiveness and balance the books, real wage adjustments are sometimes inevitable. A slightly higher level of inflation allows for this painful adjustment with a lower level of political conflict.
On the other hand, ultra-low inflation, in a recession, can easily become deflation. Falling prices encourage people to defer spending, which makes things worse and erodes tax payments, impairing a government’ s ability to pay debt. That in turn increases the debt’ s size and costs.
In addition, a single-minded focus on inflation makes it easy for policymakers to lose sight of the broader picture-asset prices, growth and employment. Policy can become too tight or too loose—as in the run-up to the crisis in the U. S. when low inflation was seen as a comforting sign that things were in order.
In a recession, ultra-low inflation also reduces the effectiveness of monetary policy since interest rates cannot go below zero. The crisis in the euro area highlights the need for a more open-minded discussion of the merits and costs of ultra-low inflation.
The word "books" (line 5, paragraph 4)means________.
选项
A、tickets
B、accounts
C、works
D、stamps
答案
B
解析
tickets“票券”;accounts“账目”;works“著作”;stamps“邮票”。在文中,“balance the books”意为“持平账目”,所以本题选择B。
转载请注明原文地址:https://kaotiyun.com/show/cWxd777K
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
Bostonisatinyplace.EvenwheninnerurbansuburbssuchasCambridge,Brookline,Somerville,andChelseaareincluded,Greate
Bostonisatinyplace.EvenwheninnerurbansuburbssuchasCambridge,Brookline,Somerville,andChelseaareincluded,Greate
LiketheotherpartsofChina,Tianjinhasmaderapidprogressafterliberation,yetsomesaythatTianjinhasnotseenmuchimp
Duringtheearlyperiodoftheearth’shistory,theweatheronearthapparentlyfluctuatedbetweenbrightsunandshowers.Inr
Hawaii,theneweststateintheUnitedStates,isa【C1】______ofeightlargeislandsandmanysmall【C2】______intheCentral
WhydidPresidentBushvetothepreviouswarspendingbill?
Man’spuzzlementandpreoccupationwithtimebothderiveultimatelyfromhisuniquerelationshiptoit.Allanimalsexistin
TheWorldHealthOrganization(WHO)isintrouble.Itsleaderisaccusedoftailingtolead,andastheorganizationdrifts,oth
Whatdifferencedoesitmakeifwereadtextsdisplayedonacomputerscreeninsteadofonpaperprintedwithink?Thecompu
Whydidthewomanopenthedoorwhensomeoneknockedonit?
随机试题
消化性溃疡的症状和腹痛是胃泌素瘤最常见的症状。改为:
残气/肺总量之比增加不见于哪种情况
A.生麻黄B.蜜麻黄C.麻黄绒D.蜜麻黄绒E.醋麻黄适用于表证已解而喘咳未愈的老人、幼儿及体虚患者的是
患者,男,65岁。上颌无牙,下颌牙均健康,多次修复上半口义齿,但仍多次折断,现要求重新修复,医师设计金属基托式上半口义齿。医师取印模、取咬合关系,上架采用下述哪种金属制作该基托为最轻
建筑物内燃气锅炉房的门应采用()。
下列选项中,不属于一价定律实现条件的是( )。
根据税务登记相关规定,下列选项中需要办理变更税务登记的有()。
科学家认为,海洋对大气中二氧化碳的吸收暂时缓解了二氧化碳浓度的上升速度,一旦这种缓解作用失效,大气中二氧化碳的浓度将以更快速度增长。那么,增加的二氧化碳是否会导致大气温度上升呢?虽然绝大部分科学家相信答案是肯定的,但这毕竟是一个漫长的过程,存在诸多变数。于
经院哲学最著名的代表人物是意大利神学家(),著有《神学大全》。
CIRCUMVENTION:
最新回复
(
0
)