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mpacts of inflation ? An unexpected jump in prices would impoverish some people while enriching others. ? In addition to ine redistribution effect, Inflation affects the real economy in two specific areas: total output and economic efficiency. ? 在國民黨統(tǒng)治時期,國民政府肆意濫發(fā)紙幣,結果造成長期惡性通貨膨脹。據(jù)統(tǒng)計,從抗日戰(zhàn)爭爆發(fā)到國民政府崩潰( 19371949)的十二年間,紙幣發(fā)行量累計增加了 1400多億倍,致使同期物價上漲了 85000多億倍,達到古今中外罕見的程度。貨幣購買力一落再落,最后幾乎變成廢紙。有人曾經(jīng)做過這樣的統(tǒng)計,以 100法幣購買力為例, ? 1937年可買 2頭牛, ? 1938年為 1頭牛, ? 1939年為 1頭豬, ? 1941年為 1袋面粉, ? 1943年為 1只雞, ? 1945年為 1條魚, ? 1946年為 2個雞蛋, ? 1947年為 1個煤球, ? 1948年 8月國民黨貨幣改革時為 3粒大米。至此,全國廣大勞動人民陷于極端痛苦和貧困的境地。 Fighting inflation ? One way to cure inflation involves the implementation of tight macroeconomic policy (tightening money supply), which requires contracting economic activity and raising unemployment. ? Another technique for adaptation to inflation is to “index” the economy. Indexing is a mechanism by which wages, prices, and contracts are partially or wholly pensated for changes in the general price level. ? cost of living adjustment, tax system, rents, and longterm industrial contracts. ? The adaptation to inflation shock will range paradox: the more a society insulates its members from inflation, the more unstable inflation is likely to bee. ? When general policies fail, countries resort to ines policy to reduce inflation as well. However, no policy is plete and perfect. Most nations therefore seek a golden mean between pletely stable prices and high inflation. conflicts between goals ? The relationship between the unemployment rate and the inflation rate was discovered by AWPhillips, who studied carefully the data on unemployment and wages between 18611957 in the United Kingdom. The shortrun Phillips Curve Key terms: Macroeconomic vs. Microeconomic。 GDP 。 economic growth 。 GDP deflator 。 GDP gap 。 export。 valueadded 。 GNP。 NI 。 DI。 Unemployment rate。 Frictional Unemployment 。 Structural Unemployment 。Cyclical Unemployment 。 Natural rate of unemployment 。 The labor force 。 Okun’ s Law。 CPI。 Inflation 。 Deflation 。 Low inflation 。 Galloping inflation 。 Hyper inflation 。 inertial rate of inflation。 Demandpull inflation 。 costpush inflation。 Indexing。 The shortrun Phillips Curve。 golden mean 。 tight macroeconomic policy 。 ine redistribution 。 Potential GDP 。 Nominal GDP。 Real GDP 。 business cycle。 market economies。 actual GDP。 real economy。 average annual growth rate。 trade surplus。 trade deficit