预算赤字（budget deficit)

政府预算赤字(government budget deficit)

术的高投资率。而高投资率要求适合的国民储蓄流。近年来巨大的联邦预算赤字降低了国民储蓄率。因而。正确的、增长导向的财政政策要求削减联邦预算赤字。” Explain the following statement from the 1991 Economic Report of the President：“To sustainrobust economic growth，the United States must maintain a high rate of investment in new capital and new technology．That，in turn，requires an adequate flow of national saving．The substantial Federal budget deficits of recent years have decreased the national saving rate．Sound．growth—ori—ented fiscal policy thus requires that the Federal budget deficit be reduced．”

假定C国政府占国内生产总值(GDP)6％的预算赤字全部靠货币创造来融资。假定汇率可以浮动，国际通货膨胀每年是3％，货币的周转率固定为4。 a．同这种赤字相一致的通货膨胀率是多少？ b．通货的贬值率是多少？ Assume that the government of country C is running a budget deficit equal to 6 percent of GDP，financed entirely by money creation．Assume that the exchange rate is allowed to float，international inflation is 3 percent per year，and the velocity of money is fixed at 4． a．What is the rate of inflation consistent with this deficit’？ b．What is the rate of depreciation of the currency？

这个国家的通货膨胀会比较高，何时货币周转率会不变，何时它是名义利率的正函数？为什么？ Consider a government that is running a constant and persistent budget deficit，financed by selling bonds to the central bank．There is a floating exchange-rate regime．When would you expect in flation in this country to be higher，when the velocity of money is constant or when it is a positive function of the nominal interest rate？Why？

B国政府有占国内生产总值(GDP)2％的预算赤字，实际货币需求也每年按国内生产总值的2％增长。政府将赤字货币化。 a．阐述在固定汇率制下，中央银行的外汇储备会有什么变化。 b．在浮动汇率制下，B国的通货膨胀率会是多少？ The government of country B has a budget deficit of 2 percent of GDP．Real money demand is also growing at 2 percent of GDP per year．The government monetizes the deficit． a．Under fixed exchange rates，describe the evolution of the foreign reserves of the central bank． b．Under floating exchange rates，what would the rate of inflation be in country B？

假设政府想增加投资但保持产出不变。在IS-LM模型中。货币与财政政策如何配合才能实现这一目标？在20世纪80年代初，美国政府减税并有预算赤字，而美联储实施紧缩性货币政策，这种政策配合会有什么影响？

Suppose that the government wants to raise investment but keep output constant. In the IS-LM model, what mix of monetary and fiscal policy will achieve this goal？ In the early 1980s, the U.S. government cut taxes and ran a budget deficit while the Fed pursued a tight monetary policy. What effect should this policy mix have？

rise, and investment falls.()

What is the main idea of Mr. Obamas plan for cutting Americas huge budget deficit？

A．Americans should pay the same rate of tax.

B．Companies and the wealthiest citizens must pay higher taxes.

C．The current tax rate should be increased sharply.

D．Republican opponents must cooperate with the government.

The following are involved in the plans to cope with the budget deficit EXCEPT

A．state workers" working hour has been reduced.

B．many social and education services have been cut.

C．the state sent out IOUs to companies.

D．the state will impose new taxes on companies.

Industrial group Confindustria warned that ______.

A．the attacks on U. S. targets lead to the comparatively lower growth

B．the growth had been well short of the government's target

C．the budget deficit must be about 1.5%

D．the budget deficit will probably be greatly different from the country's promise