During inflationary periods, the use of the LIFO method of costing inventory will res

it matches more recent costs against current revenues.()

A.deflationary

B. inflationary

C. financial

D. fiscal

‍‍‍‍

1、(英译中)The effect of governmental expenditures on the total economy varies with both the level of utilization of labor and capital in the economy at the time of the expenditure, and the segment of the economy which receives the expenditure. If the economy as a whole or the segment of the economy which is the focus of the expenditure is operating at capacity or close to capacity, then the expenditure’s major effects will tend to be inflationary, and will not generate much employment of capital and labor. If the economy or sector is operating at much less than full employment, the expenditure will produce a genuine (non-inflationary) rise in the GNP.

A true measure of the effect of governmental increase in the amount of money made available, then, is not the simple dollar value of the initial injection but the cumulative effect of this injection through spending and re-spending. In the optimum case the initial expansion of income flow could be great enough to produce tax revenues in excess of the original "deficit spending" or the "tax cut", so that deficits are not only smaller than the increased GNP but are recouped. In Keynesian economics the fundamental point of government policy clearly is not budget-balancing but spending in the event of unused productive capacity and unemployment. Spending increases productivity. This productivity resulting from federal spending has overwhelmed the older economic myths of the balanced budget where government is conceived of as just another business firm.

e【C3】______of money or purchasing power decreases. There arc three important causes of inflation. The first and most important cause may be excessive government spending. For example, in order to【C4】______a war or carry【C5】______social programs, the government may spend more money than it has received through taxes and other revenue, thus creating a deficit. In order to【C6】______this deficit, the Treasury Department can simply【C7】______the money supply by issuing more paper money to【C8】______the debts of government. This increase in the money supply will cause the value of the dollar to【C9】______decrease. The second cause of inflation occurs when the money supply increases faster than the supply of goods.【C10】______people have more money, they will run out to buy popular goods【C11】______televisions and computers, for example, and a shortage will result. Industry will then produce more, at higher prices, to【C12】______demand.【C13】______, if people think that the prices of popular goods are going up, they will buy and even borrow money at high【C14】______rates to pay for them. Finally, if labor unions demand that workers, wages【C15】______to【C16】______the high cost of living, industry will meet this demand and add other costs of production on to the【C17】______.【C18】______summary, all of these causes can【C19】______inflationary problems that can affect the welfare of a nation. However, of these three causes,【C20】______government spending may be the most important.

【C1】

A．this

B．which

C．that

D．what

A.during the rest time

B.during the working hours

C.during the dinner time

D.

E.during the holidays

The period of Stone Age is during 2000--250BC.()

A.from

B.in

C.at

D.during

Please take care of my garden during my ______ . (absent)