NO.PZ2023030901000020
问题如下：
Which of the following is a characteristic
of the monetary policy in low-inflation regime?
选项：
A.Inflation is driven by persistent changes in
sector-specific, relative prices.
Wages and prices tend to rise simultaneously in
response to inflation.
The central bank has limited flexibility in
terms of the specific measure of inflation it can target.
The central bank can tolerate moderate,
persistent deviations of inflation from narrowly defined targets.
解释：
A low-inflation regime offers flexibility
to the central bank, which can tolerate moderate, persistent deviations of
inflation from narrowly defined targets. This is because inflation in such a
regime largely reflects changes in sector-specific, relative prices that are
transitory, and do not lead to frequent and persistent salient price changes
that could drive inflation durably higher. As a result, wages and prices do not
tend to chase each other higher, and the central bank can enjoy the fruits of
its hard-earned credibility. Option A is incorrect because changes in
sector-specific, relative prices are largely transitory, not persistent. Option
B is incorrect because wages and prices do not tend to chase each other higher.
Option C is incorrect because a low-inflation regime confers flexibility
regarding the specific measure of inflation that the central bank can target,
not limited flexibility.
老师在低通胀的制度下，价格变化是 in sector specific的，而在高通胀制度下就会是all sector的吧
