首页
登录
职称英语
Much of the language used to describe monetary policy, such as "steering the
Much of the language used to describe monetary policy, such as "steering the
游客
2024-06-04
44
管理
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. [br] 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:http://tihaiku.com/zcyy/3619814.html
相关试题推荐
Muchofthelanguageusedtodescribemonetarypolicy,suchas"steeringthe
Muchofthelanguageusedtodescribemonetarypolicy,suchas"steeringthe
Muchofthelanguageusedtodescribemonetarypolicy,suchas"steeringthe
Muchofthelanguageusedtodescribemonetarypolicy,suchas"steeringthe
Francemightbedescribedasan’all-round’country,onethathasachievedr
Francemightbedescribedasan’all-round’country,onethathasachievedr
Francemightbedescribedasan’all-round’country,onethathasachievedr
Francemightbedescribedasan’all-round’country,onethathasachievedr
Francemightbedescribedasan’all-round’country,onethathasachievedr
Francemightbedescribedasan’all-round’country,onethathasachievedr
随机试题
HowwillthemangotoBeijingZoo?[br][originaltext]M:Excuseme.Whichist
下列选项属于施工安全技术措施的有( )。A.安全生产组织体系 B.进入施工现
水平防火分区是指采用具有一定耐火能力的楼板和窗间墙将建筑上下层隔开。()
以下属于舞台特殊效果的是()。A.热焰火 B.染色灯 C.雪花机 D
首席审计执行官在制订审计计划时大多采用风险评估的方法,是因为:A.它提供了一种系
A.进入正常诊断程序 B.可采用居家隔离观察并随诊的形式 C.留院观察,收入
基金销售机构应建立科学的聘用、培训、考评、晋升、淘汰等人力资源里制度,确保基金销
A.灭菌法 B.高水平消毒法或灭菌法 C.高水平消毒法 D.中水平以上的消
关于《生活垃圾焚烧污染控制标准》适用范围的说法,错误的是( )。A.适用于生活
下列有关止水缝部位混凝土浇筑的说法不正确的是( )。A.浇筑混凝土时,不得冲撞
最新回复
(
0
)