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  3. There are fundamentally two possible changes in an economy that will each cause

There are fundamentally two possible changes in an economy that will each cause

游客2024-01-12  52
问题 There are fundamentally two possible changes in an economy that will each cause inflation unless other compensating changes also occur. These changes are either reductions in the supply of goods and services or increases in demand. In a pre-banking economy the quantity of money available, and hence the level of demand, is equivalent to the quantity of gold available.
If the statements above are true, then it is also true that in a pre-banking economy
选项 A、any inflation is the result of reductions in the supply of goods and services
B、if other factors in the economy are unchanged, increasing the quantity of gold available will lead to inflation
C、if there is a reduction in the quantity of gold
D、the quantity of goods and services purchasable by a given amount of gold is constant
E、whatever changes in demand occur, there will be compensating changes in the supply of goods and services
答案 B
解析 This question asks us which of the statements is most strongly supported by the information in the argument. Given no other relevant changes, two factors can cause inflation: a reduction in market supply of goods and services or an increase in market demand. The argument also indicates that the total quantity of money available—or, in a pre-banking economy, the quantity of gold available—determines market demand. Therefore, in a pre-banking economy, an increase in the quantity of gold available will increase demand. In a situation where supply remains constant, this increases demand for this fixed supply, thereby raising prices. In other words, increasing the quantity of gold in a pre-banking economy will cause inflation.
A    While this may be true in certain cases, it is not the argument made in the passage. The passage indicates that certain instances of inflation are caused by increased demand stimulated by an increase in available money (or gold).
B    Correct. According to the information in the passage, if the quantity of available gold in a pre-banking economy increases while supply of goods and services remains unchanged, demand for goods and services will increase relative to supply. This imbalance raises prices for the supply; that is, it causes inflation.
C    This answer suggests the opposite of the information in the passage. While the information in the passage indicates that an increase in the quantity of available gold may cause inflation, this choice suggests that a reduction in the available amount of gold will cause inflation.
D    This suggestion is contrary to the information in the passage: the passage suggests that in a pre-banking economy, the total available amount of gold determines the amount that a good or service will cost. This answer choice suggests that the total available amount of gold is irrelevant to the cost of given goods or services.
E    The passage nowhere indicates that economies will compensate for changes in demand by changing available supply. Thus suggestion may or may not be true in real-world terms, but there is no information in the passage to support it.
The correct answer is B.
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