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本帖最后由 一起学CFA 于 2016-1-25 13:30 编辑
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) P0 P4 D, `, v- g; o( HCFA Level I:Economics - Aggregate output, price, and economic growth 精选题和学习要点8 F4 d* P$ Q4 s5 R+ _% ~; ^
Learning Outcome Statements (LOS) & q P. H6 T4 l" u
a Calculate and explain gross domestic product (GDP) using expenditure and income approaches;
+ k: P/ N$ n9 Tb Compare the sum-of-value-added and value-of –final-output methods of calculating GDP; & }7 S) w. m9 W/ ]3 m% n4 |+ \1 h
c Compare nominal and real GDP and calculate and interpret the GDP deflator; ; {$ ]1 i& k Q8 L( U" L" J3 P' [6 c
d Compare GDP, national income, personal income, and personal disposable income; : w: d, } n* G! j( D
e Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance; 0 I; C& _0 S: d% ^6 b; y* f0 q7 d
f Explain the IS and LM curves and how they combine to generate the aggregate demand curve;
2 y# W% ^, P8 t( Kg Explain the aggregate supply curve in the short run and long run; 1 `5 |6 T9 F( X! ?: g
h Explain the causes of movements along and shifts in aggregate demand and supply curves; ) Q. N. z! u! ?. o3 W) H; {, B4 \
i Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle; . E) b0 [/ ~1 ]( N) p) e% q: p
j Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment;
. b4 d- t+ X0 C/ ~k Analyze the effect of combined changes in aggregate supply and demand on the economy; % H7 R3 u2 Z3 i6 R8 c
l Describe the sources, measurement, and sustainability of economic growth;
' H4 B) T* n, u, I' B9 d5 ]6 `$ \m Describe the production function approach to analyzing the sources of economic growth;
' d E; P. ]4 x0 V% }n Distinguish between input growth and growth of total factor productivity as components of economic growth.
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1. In regard to the aggregate demand curve and an increase in one of its associated factors, which of the following relationships is least accurate?, P7 \1 |0 z2 N2 z1 Z& ^2 `- u" g
| | Increase in factor | Shifts the AD curve | Reason | | A | Stock prices | Rightward | Lower investment | | B | Consumer confidence | Rightward | Higher consumption | | C | Exchange rate* | Leftward | Lower exports and higher imports | *Exchange rate is foreign currency per unit of domestic currency
& m+ A6 G$ @4 x" }" M登录回复后可见:答案和详解
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2. A recessionary gap is more likely to be observed when:" M8 H5 T5 {$ F: K0 g5 @# t( }8 e
A. Real GDP is above potential GDP
, P! v: Y& [% c" rB. Real GDP is below potential GDP
+ w5 l6 u( Y! ?# k3 X6 P% tC. Employment is above full-employment equilibrium
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3. Regarding a company’s production function, both labor costs and capital costs are best described as:
- b+ k C! z/ p' k2 R5 OA. fixed in the long run
; R6 V. \$ |6 fB. variable in the long run
# P: M4 ]) l& _6 D2 m/ SC. variable in the short run
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# ` J, B# T0 l% ?: n" k: y4. The total output in units and average selling prices in a hypothetical economy producing only two products, X and Y, is provided below:2 l! G1 o9 K' A! ]+ N# p
| | Product X | | Product Y | | Year | Output (units) | Selling Price/unit | Output (units) | Selling Price/unit | | 2010 | 2,800 | 9 | 2,000 | 47 | | 2011 | 3,000 | 11 | 1,800 | 52 | If the implicit price deflator for GDP in 2010 was 100, for 2011 it is closest to:
, ~- P; N1 ]9 VA. 106.2
8 g; u' g0 o& f% l6 O i3 vB. 106.8 ) |+ G; K8 M' }5 [7 @- Y3 Y0 Z6 ~
C. 113.4 % R3 t8 f8 W9 L
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5. In a sample economy with no foreign sector, the following equations apply:
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" Y9 ^/ A: n4 X$ n. x| Consumption function | C=2,500+0.80(Y-T) | | Investment function | I=500+0.30Y-25r | | Government spending | G=1,000 | | Tax function | T=-250+0.30Y | | Y:Aggregate income | r : Real interest rate | If the real interest rate is 3% and government spending increases to 2,000, the increase in aggregate income will be closest to: ) O$ b0 Y7 l7 E$ `& C; S' U
A. 1,000 $ t- K! {! n; M: \
B. 1,163 5 ~& P* m: o3 x8 ?: n7 k! y
C. 7,143
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