宋利芳《经济学专业英语教程（第三版·上）》Unit 9.pptVIP

Unit 9Text: Inflation（通货膨胀） 1. Key words 2. Measuring the inflation rate 3. Factors affecting the rate of inflation 4. Effects of inflation 5. Translate the following into Chinese 6. Questions 1. Key words 2. Measuring the inflation rate 2.1 Base year selection 2.2 Regimen selection 2.3 Weighting 2.4 Calculation 2.5 The uses of price indexes 2.1 Base year selection The base year is used to measure the changes in other years. Due to greater choice and availability, people’s tastes and preferences for such items as food and clothing change over the years. The selection of a base year, then, should not be too far apart from the years that are being measured. 2.2 Regimen selection A regimen is a limited sample of goods that are often purchased. The same goods are purchased at the same time and at the same place each year. They are then measured for any price changes that may have occurred. 2.3 Weighting Not all goods and services in an index are equally important. To overcome this difficulty, items are “weighted”—an estimate is made of the percentage of total income that is spent on the regimen. 2.4 Calculation of the price index of an imaginary regimen Year 1=Base year=Index of 100 Index for Year 2=(Year 2 expenditure/Year 1 expenditure) ×100% Index for Year 3=(Year 3 expenditure/Year 2 expenditure) ×100% … 2.5 The uses of price indexes The indexes are used to calculate increases or decreases in price levels and rises or falls in the value of money. Indexes are used to calculate the real value of wages. This is the actual purchasing power of wages made by comparing the price index with monthly wages. The price index can be used by governments to introduce higher taxes. The government has an understanding of the present standards of living, the nation’s value of production and whether or not to take suitable action to prevent further price rises or to stimulate the economy to prevent further unemployment. The measurement of inflation rates allows the g