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 sentences used to describe monetary policy, such as "steering the economy to a soft landing" or "a touch on the brakes"
Many sentences used to describe monetary policy, such as "steering the economy to a soft landing" or "a touch on the brakes"
admin
2010-06-30
28
问题
Many sentences 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 troth. 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 had 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 ecoaomic models which were based upon the historical link between growth and inflation.
The text suggests that
选项
A、the previous economic models are still applicable.
B、an extremely low jobless rate will lead to inflation.
C、a high unemployment rate will result from inflation.
D、interest rates have an immediate effect on the economy.
答案
A
解析
文章表明:选项A:先前的经济模式仍然适用。可从文章最后一段推测。为什么通货膨胀会这么轻微?很不幸,最热门的说法有点缺陷。那些经济学家说世界范围内的强有力的结构改革结束了经济增长和通货膨胀挂钩的旧经济模式。从此段话可推知这种热门说法不完全正确,旧经济模式仍然在适用。选项B:极端的低失业率导致通货膨胀。错误,the rate below which inflation has taken off in the past.失业率低于一个定点,通货膨胀就会消失。选项C:通货膨胀导致高失业率。错误。选项D:银行利率
转载请注明原文地址:https://kaotiyun.com/show/zSJd777K
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
A、Becausemoreandmorechildrenwillbegivenbirth.B、Becausetheywillearnmoremoney.C、Becausetheywillhavehigherlivin
WorldleadersmetrecentlyatUnitedNationsheadquartersinNewYorkCitytodiscusstheenvironmentalissuesraisedattheRio
Aslongasherparentscanremember,13-year-oldKatieHarthasbeentalkingaboutgoingtocollege.Hermother,Tally,afinanc
In1959theaverageAmericanfamilypaid$989forayear’ssupplyoffood.In1972thefamilypaid$1,311.Thatwasaprice
Whoisthespeaker?
Whenitcomestotheslowingeconomy,EllenSperoisn’tbitinghernailsjustyet.Butthe47-year-oldmanicuristisn’tcutti
Throughouthistorytherehavebeenmanyunusualtaxesleviedonsuchthingsashats,Beds,Baths,marriages,andfunerals.Aton
AnswerQuestions71to80byreferringtothebriefsonfourfamouscastlesinWales,Britainonthefollowingpage.Answereach
"Junkscience"ishowElliotMorley,Britain’sministerresponsibleforgeneticallymodifiedfarming,describesstudiesthatcla
"Junkscience"ishowElliotMorley,Britain’sministerresponsibleforgeneticallymodifiedfarming,describesstudiesthatcla
随机试题
林先生是独子,父亲早亡。与母亲相依为命。由于是独子,所以母亲相当宠爱他,林先生在校时爱玩,成绩不好,只念到职校。毕业后,林先生在一家工厂担任工人时。认识了比他小三岁的太太,并且在25岁的时候结婚。婚后两年,他的母亲去世,只留下一点钱。目前林先生已经三十岁,
A.近曲小管B.远曲小管C.髓袢升支粗段D.髓袢降支细段E.集合管继发性主动转运Cl-的部位是()
关于围绝经期,以下哪项是正确的
不去毛的药物有
()是指针对某~物业类型,分析其市场内部不同档次物业的供求关系,并从市场发展的实际情况出发,判断供给档次和需求水平之间是否处于错位的状态。
关于期货交易结算所论述正确的是()。
下列单位中,必须设置总会计师的是()。
元代戏剧家关汉卿的代表作是()。
为了挽救濒临灭绝的大熊猫,一种有效的方法是把它们都捕获到动物园进行人工饲养和繁殖。以下哪项如果为真,最能对上述结论提出质疑?
下列叙述中正确的是()。
最新回复
(
0
)