答案和详解如下： 1.Which of the following statements concerning inflation is least accurate? A) Inflation tends to erode the purchasing power of a currency. B) There are two fundamental types of inflation, demand-pull and cost-push. C) Anticipated changes in inflation have greater impacts on real economic outcomes than unanticipated changes. D) Unanticipated inflation adversely affects lenders and wage-earners. The correct answer was C) Unanticipated changes in inflation have greater impacts on real economic outcomes than anticipated changes. The other statements are correct. 2.During the 1920s in Germany and during the 1980s in Brazil and Israel, inflation reached hyperinflationary levels. People received their wages and spent them immediately. Companies received revenues from their sales and immediately paid them out as wages and dividends. This behavior best reflects which one of the following adverse effects of inflation for an economy? A) Tax distortion. B) Gains by employers at the expense of employees. C) Increased investment risk. D) Increased transactions costs. The correct answer was D) Money holders’ rush to spend cash immediately reflects an increase in transactions costs as money becomes less effective as a store of value. 3.Which of the following is least likely to be a direct consequence of a high rate of inflation? A) Increased uncertainty about the long-term inflation rate. B) Increased focus on the long term by business planners and other people. C) A misallocation of resources within the economy. D) A decrease in investment and a slower economic growth rate. The correct answer was B) When an economy is experiencing a high rate of inflation, there is greater uncertainty about what the inflation rate will be in the long run. This increased uncertainty makes it difficult for businesses to undertake long-term planning and causes a short-term focus. Investment will decline and the economy’s growth rate will slow. The increased uncertainty will also result in a misallocation of resources because people will spend time and resources finding ways to avoid the adverse impact of high inflation which will decrease other productive activity. 4.Which of the following is least likely an effect of anticipated inflation on an economy? A) Increased economic growth. B) Higher transactions costs. C) Tax distortion. D) Reduced investment. The correct answer was A) Anticipated inflation will have an adverse effect on an economy. It will decrease potential GDP and slow economic growth by diverting resources from productive activity to inflation avoidance. It increases transactions costs by making money function less well. Inflation has tax effects that distort real after-tax returns on investments. These effects reduce total investment and long-term real GDP growth. | 
发表于 2008-5-15 13:38
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