文档介绍：Chapter 8
ary Policy
Definition of ary Policy
Government policy concerning money and credit
conditions, especiallytherate of growth in the
money supply and the level of interest rates..
ary policy include three
aspects:
vobjectives of policy
vtools to realize the objectives
vthe anticipated effects of policy
Goals of ary Policy
full employment
ØAs the primary goal of ary policy, full
employment is generally defined as meaning that
jobs are readily available on reasonable terms for all
who able and willing to work.
ØFull employment does not mean that there is no
unemployment.
frictional unemployment
unemployment rate(失业人数与愿意就业
的劳动力之比)
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Stability of the price level
Stability of the price level does not mean unchanged
individual prices.
Price level stability means keeping average prices, as
measured, say ,by wholesale and consumers price
indexes, from fluctuating at all, or from fluctuating
beyond narrow limits.
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ØThe changes in the source of raw material,
Øvariations in the efficiency of capital and labor,
Øthe introduction of new products,
Øthe swings of popular fancy from one product to
another,
Ømaterial variations in the supply of some goods
because of weather conditions, and the like.
It is widely recognized that a stable price level does
not ensure full employment. Stability of the price
level can obtain during periods of widespread
unemployment, and the mere situation of stability
might make little or no contribution toward an
expansion in employment.