360  13

  ,      
 $100   .        -
   ?

,        9%   5%, ..
    4% (9%  5%).    -
       . ?  -
  $105,         -
   $96,33 ($105/1,09), .. , ,   .  
      3,67% [($96,33  $100)/$100]
   0%.

          3%, ..  -
   -2% (3% - 5%)?      -
   .        $105,   -
   $101,94 ($105/1,03), .. , ,   .  
      1,94% [($101,94 - $100)/$100] 
  0%.

   :     
, ,    ,   
 (),       ,  -
  (). ,     ,
  ,   16.    -
        ,  
   ,     -
 {purchasing-power risk).

    

      

   -
       -
   
.    
    (. -
 13.1.2) (  :  -
)  ,   
    -
    .  -
 20       
     -
     49%  1977 .
   20%  1982 .  
    
     28%, 
    
,    
.

   , 
 -  
- ,  -
     
.  , -
    
 .    
(     -
)   -
    -
,     -
   .
   ,    -
     -
   ,  -
  
     -
   .

     
   -
 .     -
   . 
  ,  
  
 :  
 ,  
    , 
   .