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", make
Many phrases used to describe monetary policy, such as "steering the economy to a soft landing" or "a touch on the brakes", make
admin
2010-07-06
68
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% 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 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.
How does the author feel about the present situation?
选项
A、Tolerant.
B、Indifferent.
C、Disappointed.
D、Surprised.
答案
D
解析
吃惊,因为形势比预测的要好。
转载请注明原文地址:https://kaotiyun.com/show/pzDd777K
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
Allinternationalchainschoolsteachmanydifferentlanguages.
Allinternationalchainschoolsteachmanydifferentlanguages.
America—thegreat"meltingpot"—hasalwaysbeenarichblendofculturaltraditionsfromallovertheworld.ManyAmericanfamil
AnswerQuestions71to80byreferringtothefollowingfourarticlesconcerningmentalillness.Answereachquestionbychoosin
YouwillhearaninterviewwithProf.JesseAusubelabouthisoptimisticattitudestowardsenvironmentalissuestoday.Asyouli
Therewasatimeinthelate17thcenturywhennorespectablemonarchwouldbeseenwithoutaguitar.BothLouisXIVandCharle
Payandproductivity,itisgenerallyassumed,shouldberelated.Buttherelationshipseemstoweaken【C1】______peoplegetolder
Payandproductivity,itisgenerallyassumed,shouldberelated.Buttherelationshipseemstoweaken【C1】______peoplegetolder
InhisbookMr.Brooksdescribestheroboticspresentand________.
Accordingtothepassage,thechiefpurposeofexplorersingoingtounknownplacesinthepastwas______.Whatisthemaingo
随机试题
鞍上池前角相连的是:
左心衰竭急性肺水肿时肺部啰音的特点是
工程建设项目实施过程中设计准备阶段的完成标志和主要交付成果是()
某矿电工董某到带式输送机开关处关闭进风660V分路开关,计划更换开关。在既没有锁开关也没有挂停电牌的情况下,就又回到进风顺槽设备列车处工作。14点左右,另一组检修人员在研究皮带头后发现皮带短,对接不上,就送电至回柱机,将正在更换接线盒的电工董某电伤致死。
电气线路的消防保护措施有哪些?
依据《中华人民共和国信托法》,下列表述中不正确的有()。
WindowsXP提供了一个基于图形的多任务、多窗口的环境。()
下列关系中,不属于共同共有关系的是()。
考古学家研究发现,英国某地出土的两具木乃伊骨架是由6个人的骨架组合而成的。这些骨架距今最长可能有3500年。这些骨架是在死者去世600年后才被拼接埋葬的,显然是有人故意为之。可见,拼凑的骨架是显示家族亲缘关系的一种体现。以下哪项是题干论证必须假设的?
自由铸造、自由兑换及黄金自由输出是()制度的三大特点。[中国人民大学2011、2015研]
最新回复
(
0
)