CFA Level I：Economics 精选题（21 - 25）

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CFA Level I：Economics - Aggregate output, price, and economic growth 精选题和学习要点
# N" A/ E+ j% `, ^Learning Outcome Statements (LOS)
a     Calculate and explain gross domestic product (GDP) using expenditure and income approaches;
b     Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
8 D! b) y4 E1 C* I5 J2 W; Bc     Compare nominal and real GDP and calculate and interpret the GDP deflator;
d    Compare GDP, national income, personal income, and personal disposable income;  
1 C; A% \  |: P& ne     Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance;   
f      Explain the IS and LM curves and how they combine to generate the aggregate demand curve;
2 T9 \7 E( N2 l4 d  yg     Explain the aggregate supply curve in the short run and long run;
h     Explain the causes of movements along and shifts in aggregate demand and supply curves;
i      Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle;
j      Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment;
k      Analyze the effect of combined changes in aggregate supply and demand on the economy;
l      Describe the sources, measurement, and sustainability of economic growth;
5 b! e; j: m9 Z& M' o  ?m    Describe the production function approach to analyzing the sources of economic growth;
0 D6 f+ D  E8 b. Z3 E3 dn     Distinguish between input growth and growth of total factor productivity as components of economic growth.
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0 V) M1 @4 r9 V/ l" w0 U7 A1. In regard to the aggregate demand curve and an increase in one of its associated factors, which of the following relationships is least accurate?
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	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
+ g2 z/ I) \) y" }登录回复后可见：答案和详解
Answer：A
9 K; i- Z' t1 B3 q. _- Y& q4 B

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2. A recessionary gap is more likely to be observed when:
A. Real GDP is above potential GDP
B. Real GDP is below potential GDP
C. 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:
2 e- b* G1 x7 A% wA. fixed in the long run
2 y  Q; Q( l, I; I5 ~4 L  W5 yB. variable in the long run
7 r6 k, E& Q# cC. variable in the short run

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4. The total output in units and average selling prices in a hypothetical economy producing only two products, X and Y, is provided below:
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	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:
A. 106.2
! l# Y' S# E& KB. 106.8
( k) W: Y4 G/ uC. 113.4

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) J* d, x  E  @/ X5. In a sample economy with no foreign sector, the following equations apply:

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:
A. 1,000
B. 1,163
C. 7,143
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谢谢，共同进步
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谢谢楼主分享好的题目和答案

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