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本帖最后由 一起学CFA 于 2016-1-25 13:30 编辑 $ ?7 M F, K5 i: u
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CFA Level I:Economics - Aggregate output, price, and economic growth 精选题和学习要点& g! j# Q+ Y' E
Learning Outcome Statements (LOS) : C3 i |2 |; s
a Calculate and explain gross domestic product (GDP) using expenditure and income approaches;
: `% h {2 A7 n; z; ?9 ub Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
; w b) j- C5 |% e' mc Compare nominal and real GDP and calculate and interpret the GDP deflator; , O* b4 _' ?+ h0 a" s
d Compare GDP, national income, personal income, and personal disposable income; 6 {. [) w; \* U" e9 S4 g9 `0 c
e Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance; " ~- e2 O" I" q2 X! }- h- d
f Explain the IS and LM curves and how they combine to generate the aggregate demand curve;
, G- A, B. Q T% Pg Explain the aggregate supply curve in the short run and long run;
; t* N/ z! b1 ~6 G( U- _5 lh Explain the causes of movements along and shifts in aggregate demand and supply curves; ' \1 s5 q- n: O3 h2 K( \6 Z
i Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle;
$ s! ~: `8 Q/ x, p- ^. Hj Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment; " F3 {4 C! g0 n, I: R
k Analyze the effect of combined changes in aggregate supply and demand on the economy; . V, i7 Y$ B. W! b. Q
l Describe the sources, measurement, and sustainability of economic growth; 6 W& \9 I& E4 Q1 W" y4 V7 M
m Describe the production function approach to analyzing the sources of economic growth;
9 k" c" O3 i) l/ K+ Sn Distinguish between input growth and growth of total factor productivity as components of economic growth.8 t+ Q @7 I9 A, d+ Z
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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?# q5 S7 f( i0 Y; g" }7 b* Y
| | 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 currency7 k: E4 }! C) L2 l! ~2 }% ^
登录回复后可见:答案和详解$ w9 V( F/ R+ Z/ f9 u5 p( P2 F
Answer:A
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2. A recessionary gap is more likely to be observed when:0 S! X- |0 G( {. ~: @
A. Real GDP is above potential GDP 3 f5 o8 F% Y7 f( `# d" w+ _! W
B. Real GDP is below potential GDP
1 t( k) [; P) y# Y. D7 j% E5 G/ y+ m! SC. Employment is above full-employment equilibrium7 c$ ^* J1 u& C
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3. Regarding a company’s production function, both labor costs and capital costs are best described as:
$ ~7 O8 D7 T! B/ W- J& `3 @# iA. fixed in the long run
& b7 V8 a% P3 m, E% f% d# YB. variable in the long run % b0 s) {6 \; ^6 f8 \
C. 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:% S* \$ A9 `( O. O* V
| | 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: ; G7 G! @5 d/ C3 Y
A. 106.2
# u+ W1 l. k/ V& UB. 106.8
6 h6 P0 O+ g/ s& E1 V0 i" RC. 113.4
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: l) I5 {) s3 u( z, R$ h/ j) _5. In a sample economy with no foreign sector, the following equations apply:
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. W7 }3 k% \& {1 a- h| 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: 9 x: S y! L) N T
A. 1,000
$ q/ i( }- U( H) O0 A, u0 ]7 IB. 1,163 / N0 }- l/ j& q" R" K! K, j" h
C. 7,143
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