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", mak
Many phrases used to describe monetary policy, such as " steering the economy to a soft landing" or "a touch on the brakes", mak
admin
2014-03-25
74
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 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.
According to the text, making monetary policy changes______.
选项
A、is comparable to driving a car
B、is similar to carrying out scientific work
C、will not influence the economy immediately
D、will have an immediate impact on the inflation rate
答案
C
解析
文章第一段提到了:And there are long,variable lags before policy changes have any effect on the economy.政策对经济的影响有一个长期的间隔期。即政策的变化不会立刻影响经济。
转载请注明原文地址:https://kaotiyun.com/show/qKxd777K
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
Fromtheverybeginning,waterhasfurnishedmanwithasourceoffoodandahighwaytotravel.Thefirstcivilizationsarose【2
HowlongdidEmilyDickinsonliveinthehousewhereshewasborn?
Willpeopleevertamethedestructive,oftendeadlyhurricane?Eitherscientistsormeteorologistsdonotyetunderstandthefor
Mostpeoplewhotravellongdistancescomplainofjetlag(喷气飞行时差反应).Jetlagmakesbusinesstravelerslessproductiveandmorepr
WhichofthefollowingiscoveredinBCDInternationalprograms?
Whatiscommontragedyeverywhereaccordingtothepassage?
Thisisahistoricoccasion.AndIamparticularlypleasedtoseeChairmanDengXiaopingisabletobepresent. 【61】TheJ
Thisisahistoricoccasion.AndIamparticularlypleasedtoseeChairmanDengXiaopingisabletobepresent. 【61】TheJ
Forwhomdidthespeakerprobablysaythispassage?
1,050pounds
随机试题
国际避税地的类型。
宋朝科举最主要的类型是()
A.DNA聚合酶ⅠB.DNA聚合酶ⅢC.二者都是D.二者都不是(2001年第123题)具有3'→5'外切酶及5'→3'外切酶活性的是
外鼻的感觉神经主要的神经组成是
若当事人对付款地未有约定,现乙公司以甲公司为被告,要求支付货款,则应由何地法院管辖?设甲、乙公司在合同中约定有仲裁条款,但乙公司没有申请仲裁,而是直接向法院提起诉讼,是否合法?为什么?甲公司应诉答辩后,又以合同存在仲裁条款为由提出管辖权异议的,人民法院
塑料管具有质量轻、耐腐蚀、易成型和施工方便等特点,常用的塑料管有()。
有理数是正整数、负整数、正分数、负分数和零的统称,此有理数概念的定义方法是().
下列选项中有错别字的一项是()。
晶莹美丽的珍珠。其中心不过是颗砂粒,正所谓“病蚌成珠”。降雨全靠空气中的尘埃作为凝聚中心,倘若天空绝对干净,水汽再多也不会下雨,当然就没有植物和动物,更不可能有人类。同类之物彼此相差无几。谁也难成中心。异类的介入打破了无差异的均衡,“中心”应运而生,有序的
【2018-44】在选拔性考试中,某试题得分的标准差极小,表明该题存在的问题是()。
最新回复
(
0
)