slowdown究竟发生在peak的左边还是右边

NO.PZ2018091901000052问题如下 Neshie Wakuluk is investment strategist. Exhibit 1 summarizes Wakuluk’s prections: Wakuluk cis to focus on Country Y. Wakuluk makes the following observations:Observation 1 Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight.Baseon Observation 1, fiscanmonetary policies in Country Y will most likely leto:A.low nominrates. B.high nominrates. either high or low nominrates. C is correct.Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight. With this combination of persistently loose antight policies, the impacoulleto higher or lower nominrates (typically labeleminominrates). 解析:Y国的货币政策持续宽松（通胀上升），财政政策持续紧缩（真实利率下降）。由于持续的宽松和紧缩政策(货币和财政政策并不一致)，其影响可能导致名义利率上升或下降(通常被称为中间名义利率)。因此只有C正确。我还在想contraction阶段，宽松的货币政策很有可能传导不下去，相对而言财政政策影响可能更大，所以利率会下降？所以遇到这种题，不用考虑business cycle阶段，直接两个正常人影响一叠加就行了？

NO.PZ2018091901000052 问题如下 Neshie Wakuluk is investment strategist. Exhibit 1 summarizes Wakuluk’s prections: Wakuluk cis to focus on Country Y. Wakuluk makes the following observations:Observation 1 Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight.Baseon Observation 1, fiscanmonetary policies in Country Y will most likely leto: A.low nominrates. B.high nominrates. either high or low nominrates. C is correct.Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight. With this combination of persistently loose antight policies, the impacoulleto higher or lower nominrates (typically labeleminominrates). 解析:Y国的货币政策持续宽松（通胀上升），财政政策持续紧缩（真实利率下降）。由于持续的宽松和紧缩政策(货币和财政政策并不一致)，其影响可能导致名义利率上升或下降(通常被称为中间名义利率)。因此只有C正确。 求问。

NO.PZ2018091901000052 问题如下 Neshie Wakuluk is investment strategist. Exhibit 1 summarizes Wakuluk’s prections: Wakuluk cis to focus on Country Y. Wakuluk makes the following observations:Observation 1 Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight.Baseon Observation 1, fiscanmonetary policies in Country Y will most likely leto: A.low nominrates. B.high nominrates. either high or low nominrates. C is correct.Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight. With this combination of persistently loose antight policies, the impacoulleto higher or lower nominrates (typically labeleminominrates). 解析:Y国的货币政策持续宽松（通胀上升），财政政策持续紧缩（真实利率下降）。由于持续的宽松和紧缩政策(货币和财政政策并不一致)，其影响可能导致名义利率上升或下降(通常被称为中间名义利率)。因此只有C正确。 这个考点我知道是下面这个图但是， 我没有明白，名义利率上升或下降是什么意思？因为从图例我们可以看出来， loose monetary antight fiscpoliwill leto MiNominrates. 中间名义利率。所以中间名义利率，不是一个数，应该是一个区间，可以上升也可以下降，根据rerate 和 inflation 之间看谁多谁少？

NO.PZ2018091901000052问题如下Neshie Wakuluk is investment strategist. Exhibit 1 summarizes Wakuluk’s prections: Wakuluk cis to focus on Country Y. Wakuluk makes the following observations:Observation 1 Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight.Baseon Observation 1, fiscanmonetary policies in Country Y will most likely leto:A.low nominrates. B.high nominrates. either high or low nominrates. C is correct.Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight. With this combination of persistently loose antight policies, the impacoulleto higher or lower nominrates (typically labeleminominrates). 解析:Y国的货币政策持续宽松（通胀上升），财政政策持续紧缩（真实利率下降）。由于持续的宽松和紧缩政策(货币和财政政策并不一致)，其影响可能导致名义利率上升或下降(通常被称为中间名义利率)。因此只有C正确。contraction阶段为什么财政政策是紧缩的呢？

NO.PZ2018091901000052 问题如下 Neshie Wakuluk is investment strategist. Exhibit 1 summarizes Wakuluk’s prections: Wakuluk cis to focus on Country Y. Wakuluk makes the following observations:Observation 1 Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight.Baseon Observation 1, fiscanmonetary policies in Country Y will most likely leto: A.low nominrates. B.high nominrates. either high or low nominrates. C is correct.Monetary polihbeen persistently loose for Country Y, while fiscpolicies have been persistently tight. With this combination of persistently loose antight policies, the impacoulleto higher or lower nominrates (typically labeleminominrates). 解析:Y国的货币政策持续宽松（通胀上升），财政政策持续紧缩（真实利率下降）。由于持续的宽松和紧缩政策(货币和财政政策并不一致)，其影响可能导致名义利率上升或下降(通常被称为中间名义利率)。因此只有C正确。 这块在课上就没听懂，不是很理解老师说的推导逻辑。