The economist Irving Fisher, after whom the Fisher effect is named, explained why interest rates _________ as the expected rate of inflation _________.

A . 正确 B . 错误

A . Contempt B . Reservation C . Detachment D . Endorsement

A . The Legend of Sleepy Hollow　 B . Rip Van Winkle C . A History of New York　 D . Both A and B

A . Amartya Sen B . Jeff Sachs C . Larry Summers D . Clare Chandler

A:正确; B:错误

A.It fostered his love for the theater. B.It developed his skill in business. C.It prompted his interest in law. D.It had almost no effect on his life.

A．pull down B．pull away C．pull out D．pull out of

A．requiring B．rewarding C．investigating

A．His personal qualifies were entirely responsible for his literary success. B．His personal qualities were primarily responsible for his literary success. C．His personal qualities had some effects on his literary success. D．His personal qualifies had no effects on his literary success.

A．His personal qualities were entirely responsible for his literary success. B．His personal qualities were primarily responsible for his literary success. C．His personal qualities had some effects on his literary success. D．His personal qualities had no effects on his literary success.

A．not effective B．not important C．not useful D．not necessary

A.Amartya Sen. B.Jeff Sachs. C.Larry Summers. D.Clare Chandler.

In general, economists complain about the costs of monopoly because they believe that the same industry could be organized competitively. A patent monopoly grant for 17 years presents a different problem. That is, the purpose of the patent system is to encourage invention. The issue is not monopoly versus competition but, more fundamentally, invention versus no invention. Is the world better off with the invention, even though it is monopolized for 17 years？ In other words, what are the costs and benefits of a patent？ Consider the simple case of a new consumer product with a positive demand, such as a camera utilizing a new exposure process. The costs of the patent monopoly are simply the deadweight costs of monopoly measured by the lost consumers' surplus from the 17-year patent monopoly. This cost must be assessed carefully in the context of an invention, however. What are the benefits of the patent system？ First, there is the increase in consumer well-being brought about immediately by a desirable invention. In 17 years, the patent monopoly ends, and a second source of benefits arises: The price of cameras will fall to a competitive level, and consumers will reap the benefits of the camera at a lower price. In sum, theory of monopoly helps us to assess the costs and benefits of the patent. One can quibble about patent monopolies, arguing, for example, that they are granted for too long a time. In the end, the patent system creates goods and services and technologies that did not previously exist. In this respect it is a valuable System for the economy. The patent system also underscores the importance of property rights to ideas as a source of economic growth and progress. The first paragraph mainly______. A．focuses on business monopoly B．tells us about the patent system in America C．discusses a special form. of market organization D．defines what a patent is and its function

Now, those instincts are being put to the test. Many Fed watchers--and some policymakers inside the central bank itself--are beginning to wonder whether Greenspan has lost his touch. Despite rising risks to the economy from a swooning stock market and soaring oil prices that could hamper growth, the Greenspan-led Federal Open Market Committee (FOMC) opted to leave interest rates unchanged on Sept.24 . But in a rare dissent, two of the Fed's 12 policymakers broke ranks and voted for a cut in rates--Dallas Fed President Robert D. McTeer Jr. and central bank Governor Edward M. Gramlich. The move by McTeer, the Fed's self-styled "Lonesome Dove", was no surprise. But Gramlich's was. This was the first time that the monetary moderate had voted against the chairman since joining the Fed's board in 1997. And it was the first public dissent by a governor since 1995. Despite the split vote, it's too soon to count the maestro of monetary policy out. Greenspan had good reasons for not cutting interest rates now. And by acknowledging in the statement issued after the meeting that the economy does indeed face risks, Greenspan left the door wide open to a rate reduction in 'the future. Indeed, former Fed Governor Lyle Gramley thinks chances are good that the central bank might even cut rates before its next scheduled meeting on Nov. 6, the day after congressional elections. So why didn't the traditionally risk-averse Greenspan cut rates now as insurance against the dangers dogging growth？ For one thing, he still thinks the economy is in recovery mode. Consumer demand remains buoyant and has even been turbocharged recently by a new wave of mortgage refinancing. Economists reckon that homeowners will extract some ＄100 billion in cash from their houses in the second half of this year. And despite all the corporate gloom, business spending has shown signs of picking up, though not anywhere near as strongly as the Fed would like. Does that mean that further rate cuts are off the table？ Hardly. Watch for Greenspan to try to time any rate reductions to when they'll have the most psychological pop on business and investor confidence. That's surely no easy feat, but it's one that Greenspan has shown himself capable of more than once in the past. Don't be surprised if he surprises everyone again. Alan Greenspan owes his reputation much to ______. A．his successful predictions of economy B．his timely handling of interest rates C．his unusual economic policies D．his unique sense of dangers

Real life is more complicated, of course, but this simple model illustrates an important truth．In the marriage market, numbers matter．And among African-Americans，the difference is much worse than in Mr．Harford's imaginary example．Between the ages of 20 and 29, one black man in nine is behind bars．For black women of the same age, the figure is about one in 150．For obvious reasons, convicts are excluded from the dating pool． Removing so many men from the marriage market has profound consequences．As imprisonment rates exploded between 1970 and 2007， the proportion of U.S.-born black women aged 30-44 who were married plunged from 62%to 33%．Why this happened is complex and furiously debated．The era of mass imprisonment began as traditional mores were already crumbling， following the sexual revolution of the 1960s and the invention of the contraceptive pill．① It also coincided with greater opportunities for women in the workplace． These factors must surely have had something to do with the decline of marriage． But jail is a big part of the problem, argue Kerwin Kofi Charles, now at the University of Chicago． They divided America up into geographical and racial “marriage markets”, to take account of the fact that most people marry someone of the same race who lives relatively close to them．② Then, after crunching the census numbers， they found that a one percentage point increase in the male imprisonment rate was associated with a 2.4-point reduction in the proportion of women, who ever marry．③ Could it be, however, that mass imprisonment is a symptom of increasing social malfunction, and that it was this social malfunction that caused marriage to wither？④ Probably not. For similar crimes, America imposes much harsher penalties than other rich countries．Mr. Charles and Mr. Luoh controlled for crime rates, as a substitution for social malfunction, and found that it made no difference to their results. They concluded that “higher male imprisonment has lowered the likelihood that women marry...and caused a shift in the gains from marriage away from women and towards men.” 阅读以上文章，回答 87～91 题 第 87 题 The word “ensues” in Paragraph 1 probably means __________．{Page} [A] to result in something [B] to happen after something [C] to be welcome [D] to be interrupted temporarily

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.

A. Rip's escape into a mysterious B. The story's German legendary source material C. Rip's seeking for happiness D. Rip's 20-years sleep

是 否

是 否

A．who oversees domestic vs. international policy objectives B．which agency should be directing government policies C．what exchange rate regime a country should employ D．homework

A．一价定律 B．金平价 C．相对购买力平价 D．利率平价