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
Much of the language used to describe monetary policy, such as "steering the economy to a soft landing" or "a touch on the brake
Much of the language used to describe monetary policy, such as "steering the economy to a soft landing" or "a touch on the brake
admin
2010-07-14
59
问题
Much of the language 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 link 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 rear view mirror and a faulty steering wheel.
Given all these disadvantages, central bankers seem to have had much to boast about of late. Average inflation in the big seven industrial economies fell to a mere 2.3% last year, close to its lowest level in 30 years, before rising slightly to 2.5% this July. This is a long way below the double-digit rates which many countries experienced in the 1970s and early 1980s.
It is also less than most forecasters had predicated. In late 1994 the pane] 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 couple of years, inflation has been consistently lower than expected in Britain and America.
Economists have been particularly surprised by favorable inflation figures in Britain and the United States, since conventional measures suggest that both economies, and especially America’s, have little productive slack. America’s capacity utilization, 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(颠倒) the old economic models that were based upon the historical link between growth and inflation.
From the passage we learn that ______.
选项
A、there is a definite relationship between inflation and interest rates
B、economy will always follow certain models
C、the economic situation is better than expected
D、economists had foreseen the present economic situation
答案
C
解析
推理题。根据第二段前两句,西方经济大国的通货膨胀率接近30年来的低点。
转载请注明原文地址:https://kaotiyun.com/show/mG7K777K
0
大学英语六级
相关试题推荐
A、Sameheight.B、Samefriends.C、Samenumberofchildren.D、Sameuniversity.A对话中明确提到两人的身高相同,而其他三项均未提及,故只能选A。
Theoldideathattalentedchildren"burnthemselvesout"intheearlyyears,and,therefore,aresubjectedtofailureandatwo
InNovember1965,NewYorkwasblackedoutbyanelectricityfailure.The【B1】______promisedthatitwouldnothappenagain.Pe
AIDSThediseaseAIDShasbecometheleadingcauseofdeathamongyoungadultsinAmerica.MuchrecentAmericanculturedeal
SeveralmembersoftheFOMCarguethatinpracticetheFedandothercentralbankshaverespondedto______.(飙升的房价)insimilarwa
A、ShewasonceanAssistantU.S.Attorney.B、Shewasonceaprosecutorworkingforthestategovernment.C、Shewasonceamember
E-wasteInAustraliawe’veseenrapiduptakeofnewtechnology,fromVCRstopersonalorganizerstoDVDplayers.Culturally,
A、Weshouldspendourmoneywisely.B、Wecannotlivewithoutmoney.C、Wearenotslavesofmoney.D、Weshouldlearntosavemone
A、Employthemaslabassistants.B、Teachchemistryclassesattheirhighschool.C、Helpthemwiththeirstudies.D、Paythemfor
Avegetablecropexpertadvised______(将这些蔬菜放置在可以接受八到十小时日晒的地方)aday.
随机试题
[A]Lastyearmarkedthe150thanniversaryofaseriesofYellowstonephotographsbytherenownedlandscapephotographerWilliam
A、Takeantiviralmedicines.B、Drinkmorewarmwater.C、Stayindoors.D、Behospitalizedimmediately.A
正则表达式([^()]*)与以‘(’开始和‘)’结束的最短字符串相匹配。()
姿势反射包括
肝硬化大量腹水的体征不包括
股份有限公司董事的忠实义务包括()。
经济订货批量越大,进货间隔越长。()
木直中绳,鞣以为轮,其曲中规。_______,不复挺者,鞣使之然也。(荀子《劝学》)
2006年1~2月份福建省产值前百家工业企业完成工业总产值平均增速最可能是下列哪一个?()2006年1~2月份哪个市的工业产品销售率最小?()
让元素1,2,3依次进栈,则出栈次序不可能出现(52)种情况。
最新回复
(
0
)