Добавил:
Upload Опубликованный материал нарушает ваши авторские права? Сообщите нам.
Вуз: Предмет: Файл:
Shpak.doc
Скачиваний:
3
Добавлен:
01.07.2025
Размер:
1 Мб
Скачать
☆

V. Answer the following questions:

  1. Why will permanent tax cuts lead to larger increases in consumption than temporary tax cuts?

  2. When will fiscal policy be more effective?

  3. What are the main sources of economic stability?

  4. What is an important component of aggregate demand?

  5. What does the relative effectiveness of fiscal and monetary policies depend on?

  6. When will appropriate fiscal policy be relatively more effective?

  7. What will temporary changes in income result in?

  8. What is an important reason for rule-governed policy?

VI. Define the following terms:

recession monetary and fiscal policies

automatic stabilizer predictability

interest rate to create a predictable economic

temporary tax cut environment

VII. Translate into English:

1. TMMsacoBi 3mhh b noAaTKOBifi noniTMUj He BnnnBaK>Tb Ha piBeHb cnojKMBaHHJi. 2. y 1964 p. KoHrpec 3HM3MB noflaTKW na 18 %, mo 3yMOBnno niflBHUjeHHfl pibhh cnowMBaHHH. 3. Bmcokmm pieeHb noaaTKiB aBTOMaTM^HO CTa6ini3ye eKOHOMiKy. 4. 3a 4>iHaHCOBnЈ 1980 pin aoBHiwHiM HanioHanbHMM 6opr CLUA CTaHO-bmb $121 MinbflpA. 5. 1/pflA CLUA BMnnaTMB $12 MinbsipAiB 3a BiACOTKaMM. 6. ypnA noBMHeH Kepysam rpowOBO-KpeAMTHOK> Ta cbiHaHCOBO-6K>A>KeTHoro noniTHKOK). 7. Ekohomk:™ neoAHocraMHi lUOAO CTa6inbHOCii cyKynnoro nonwy. 8. TpaHcc^epTHi BunnaTk ypflAy aBTOMaTMHHO 36inbujyioTbcsi niA ^ac cnaAy Bnpo6HnnTBa i 3MenujyioTbCfl b nepioA eKOHOMNHoT craSinbHocri.

175

VIII. Read and dramatize the following dialogue:

A.: The effectiveness of active stabilization policies, either fiscal or monetary, depends in part on the expectations of indi­vidual consumers and firms. B,: I see, but this is an area of considerable dispute since it is difficult to know precisely how individuals form expectations and how expectations, once formed, change. What do expectations depend upon? A.: Expectations depend upon the availability and costs of gathering information. For example, how rapidly the labor market returns to equilibrium depends upon how sticky no­minal wages are. B.: And what are nominal wages adjusted to? A.: Adjustments in nominal wages depend very much upon the expectations that individuals have about the effect of changes in aggregate demand and policy responses on the price level.

3.: Even if everyone knew that the price level would decline (or increase), by how much it would decline may be a much more difficult issue.

A.: Yes, if the price level will decline a lot, nominal wages will also have to decline a \o\ in order to move the labor market back to full employment. If some people believe that the price level will only decline a little or perhaps not at all, unemployment will persist until these expectations change.

B.: This is a particularly interesting area because there is a

considerable disagreement among economists. A,: As you know economists are notorious for disagreeing

about policy matters. B.: And what is the source of policy disagreements? A.: Some economists believe that the best way to maintain a steady growth in aggregate demand is for the government io pursue steady fiscal and monetary policies. These economists believe that aggregate demand is stable and they are in favor of nonactivist policies. B.: What are they called?

A.: These economists are called a Monetarists or more recently «The New Classical Economists". Other economists (so-called «Keynesians») believe that aggregate demand is , quite unstable. These economists are in favor of active sta-biization policies. 8.; And what can you say to summarize our discussion? A.: Despite these disagreements there is an agreement that optimal stabilization policy tends to stabilize nominal GNP.

176

Соседние файлы в предмете [НЕСОРТИРОВАННОЕ]