咨询阅读机经里面1.1.7 Low interest rates类似prep里的一个阅读，望确认

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题目复制如下：

Essay #10.154(22742-!-item-!-188;#058&00154-00)



Conventional wisdom has it that large deficits in the United States
budget cause interest rates to rise.Two main arguments are given for this claim.According to the first, as the deficit increases, the government will borrow more to make up for the ensuing shortage of funds.Consequently, it is argued, if both the total supply of credit (money available for borrowing) and the amount of credit sought by nongovernment borrowers remain relatively stable, as is often supposed, then the price of credit (the interest rate) will increase.That this is so is suggested by the basic economic principle that if supplies of a commodity (here, credit) remain fixed and demand for that commodity increases, its price will also increase.The second argument supposes that the government will tend to finance its deficits by increasing the money supply with insufficient regard for whether there is enough room for economic growth to enable such an increase to occur without causing inflation.It is then argued that financiers will expect the deficit to cause inflation and will raise interest rates, anticipating that because of inflation the money they lend will be worth less when paid back.


Unfortunately for the first argument, it is unreasonable to assume that nongovernment borrowing and the supply of credit will remain relatively stable.Nongovernment borrowing sometimes decreases.When it does, increased government borrowing will not necessarily push up the total demand for credit.Alternatively, when credit availability increases, for example through greater foreign lending to the United States
, then interest rates need not rise, even if both private and government borrowing increase.


The second argument is also problematic.Financing the deficit by increasing the money supply should cause inflation only when there is not enough room for economic growth.Currently, there is no reason to expect deficits to cause inflation.However, since many financiers believe that deficits ordinarily create inflation, then admittedly they will be inclined to raise interest rates to offset mistakenly anticipated inflation.This effect, however, is due to ignorance, not to the deficit itself, and could be lessened by educating financiers on this issue.



Q10. p1-rcQuestion #33.154-01(22788-!-item-!-188;#058&000154-01)



Which of the following best summarizes the central idea of the passage?



(A) A decrease in nongovernment borrowing or an increase in the availability of credit can eliminate or lessen the ill effects of increased borrowing by the government.

(B) Educating financiers about the true relationship between large federal deficits and high interest rates will make financiers less prone to raise interest rates in response to deficits.

(C) There is little support for the widely held belief that large federal deficits will create higher interest rates, as the main arguments given to defend this claim are flawed.

(D) When the government borrows money, demand for credit increases, typically creating higher interest rates unless special conditions such as decreased consumer spending arise.

(E) Given that most financiers believe in a cause-and-effect relationship between large deficits and high interest rates, it should be expected that financiers will raise interest rates.



Q11. p1-rcQuestion #34.154-03(22834-!-item-!-188;#058&000154-03)



It can be inferred from the passage that proponents of the second argument would most likely agree with which of the following statements?



(A) The United States
government does not usually care whether or not inflation increases.
(B) People in the United States
government generally know very little about economics.
(C) The United States
government is sometimes careless in formulating its economic policies.
(D) The United States
government sometimes relies too much on the easy availability of foreign credit.
(E) The United States
government increases the money supply whenever there is enough room for growth to support the increase.


Q12. p1-rcQuestion #35.154-07(22880-!-item-!-188;#058&000154-07)



Which of the following claims concerning the United States
government's financing of the deficit does the author make in discussing the second argument?


(A) The government will decrease the money supply in times when the government does not have a deficit to finance.

(B) The government finances its deficits by increasing the money supply whenever the economy is expanding.

(C) As long as the government finances the deficit by borrowing, nongovernment borrowers will pay higher interest rates.

(D) The only way for the government to finance its deficits is to increase the money supply without regard for whether such an increase would cause inflation.

(E) Inflation should be caused when the government finances the deficit by increasing the money supply only if there is not enough room for economic growth to support the increase.



Q13. p1-rcQuestion #36.154-08(22926-!-item-!-188;#058&000154-08)



The author uses the term "admittedly" (see highlighted text) in order to indicate that



(A) the second argument has some truth to it, though not for the reasons usually supposed

(B) the author has not been successful in attempting to point out inadequacies in the two arguments

(C) the thesis that large deficits directly cause interest rates to rise has strong support after all

(D) financiers should admit that they were wrong in thinking that large deficits will cause higher inflation rates

(E) financiers generally do not think that the author's criticisms of the second argument are worthy of consideration


呵呵，顺便google翻译一下，懒人懒办法

短文＃10。 154（22742 - 项目- -188;！＃058＆00154-00）

传统观点认为在美国财政预算的巨额赤字导致利率上升。两个主要参数，给出了这一说法。根据第一，随着赤字增加，政府将借更多的钱，以弥补资金随后的不足。因此，有人认为，如果同时信贷（货币借贷可用）和由非政府信用额度借款人的要求供应总量保持相对稳定，因为人们通常想象的话，信贷（利率）的价格将上涨。这是这么建议的基本经济原理，如果一种商品（在这里，信用）供应保持不变，该商品的需求增加，其价格也将增加。第二个参数假设，政府将倾向于通过增加资金是否有与经济成长，使这种增加不会导致通货膨胀出现足够的空间不足，货币供应量方面的赤字。它是那么认为，融资预期的赤字将导致通货膨胀，并会提高利率，因为通胀预期的钱，他们将价值低于贷款时偿还。

不幸的是，第一个参数，它是不合理的假设，民间借贷和信贷供应量将保持相对稳定。民间借贷有时减少。当它，增加政府借贷不一定会推升信贷总需求。另外，当信贷供应量增加，例如通过更多的外国借钱给美国，那么利率不会上升需要，即使私人和政府借款增加。

第二个参数也存在问题。筹措资金，增加货币供应量应引起通货膨胀只有在没有足够的空间对经济增长的赤字。目前，还没有理由预期赤字造成通货膨胀。然而，由于许多金融家认为，赤字通常造成通货膨胀，那么应该承认他们将倾向于提高利率，以抵消通货膨胀预期的错误。这种效果，但是，出于无知，而不是赤字本身，并通过教育可以在这个问题上融资减少。

问题10。小一钢筋混凝土问题＃33。 154-01（22788 - 项目- -188;！＃058＆000154-01）

以下哪项最好的总结中，文章的中心思想？

（a）在民间借贷减少或在信贷供应的增加可以消除或减轻由政府增加借贷的不利影响。
（b）有关者之间的联邦赤字和高利率的真实关系将使融资不容易，以提高利率应对赤字教育金融家。
（C）在为广泛持有的信念，大型联邦预算赤字将创造出更高的利率，作为主要论点给予捍卫这一有缺陷的索赔很少的支持。
（D）当政府借钱，贷款增加通常创造消费开支下降等，除非出现特殊情况下提高利率，需求。
（五）鉴于大部分金融家之间的巨额赤字和高利率的原因和结果的关系认为，这是意料中的融资将提高利率。

问题11。小一钢筋混凝土问题＃34。 154-03（22834 - 项目- -188;！＃058＆000154-03）

可以推断从文章中的第二个参数支持者最有可能同意以下哪个语句？

（一）美国政府通常不关心是否通胀上升。
（B）在美国政府的人一般都知道非常关注经济很少。
（三）美国政府有时会不小心在制订经济政策。
（四）美国政府有时过于依赖外国信贷容易获得了。
（五）美国政府增加货币供给只要有足够的增长来支持上涨的空间。

问题12。小一钢筋混凝土问题＃35。 154-07（22880 - 项目- -188;！＃058＆000154-07）

哪一项关于美国政府对赤字融资并提交下列索赔作出在讨论第二个参数？

（a）政府将减少货币供应量时，在时代的政府没有赤字融资。
（乙）政府财政通过增加货币供应量每当经济扩张的赤字。
（三）鉴于只要政府财政的赤字由借款，民间借款人将支付更高的利率。
（四）唯一途径，政府财政的赤字是增加没有这种增加是否会导致通货膨胀方面，货币供应量。
（五）应引起通货膨胀时，政府财政通过增加货币供应量只有如果没有经济增长，以支持增加足够的空间赤字。

问题13。小一钢筋混凝土问题＃36。 154-08（22926 - 项目- -188;！＃058＆000154-08）

笔者使用的术语是“无可否认”（见突出显示的文本），以表明

（一）第二个参数有一定的道理吧，虽然不是通常认为的原因
（二）提交人未能成功地试图指出，在两个参数的不足之处
（三）论文的巨额赤字，直接导致利率上升的大力支持，毕竟
（四）融资应该承认，他们在思想，巨额赤字将导致更高的通货膨胀率错
（E）的融资，一般不认为第二个参数的提交人的批评是值得考虑
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