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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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, W- x3 e7 A$ fCFA Level I:Economics - Aggregate output, price, and economic growth 精选题和学习要点
: V& @$ A9 w. l! qLearning Outcome Statements (LOS) $ `3 A/ f3 N5 K$ a1 u$ {- o/ O
a Calculate and explain gross domestic product (GDP) using expenditure and income approaches; ' g$ Y5 G) Q- a( \
b Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
$ s& j- g; \! G% K& e" qc Compare nominal and real GDP and calculate and interpret the GDP deflator; " @+ s- _, S' T
d Compare GDP, national income, personal income, and personal disposable income;
$ _7 L5 y% \, J2 c+ k, c0 ]/ Re Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance;
) @4 K4 o8 C$ M' j; S- Rf Explain the IS and LM curves and how they combine to generate the aggregate demand curve; ! N' m* G2 C4 U/ y: _0 d) R: m/ a
g Explain the aggregate supply curve in the short run and long run; , m- `1 U7 H1 l" e- R
h Explain the causes of movements along and shifts in aggregate demand and supply curves;
( _( L3 l. Z# Y% f4 v W% Ei Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle; ( i: ]/ i' y/ C' ^2 b2 L+ H& F0 _- [0 n
j Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment;
2 K8 C( ^% m: x7 W% ?0 t S* y8 Fk Analyze the effect of combined changes in aggregate supply and demand on the economy;
, O7 h- A! L7 v7 G3 `l Describe the sources, measurement, and sustainability of economic growth;
J5 u7 d+ J: Wm Describe the production function approach to analyzing the sources of economic growth;
' c; ^( w. m+ W; Vn 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?
: [+ @4 Z V/ N, ]| | 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
5 a! t* R- T2 \) A3 v0 t登录回复后可见:答案和详解
5 S8 i+ Y( o! d$ `4 Y8 X, RAnswer:A U- w& H9 U1 Q1 M( a
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! ~4 g+ N5 q, S/ |5 b- Q: O$ a1 i2. A recessionary gap is more likely to be observed when:
8 {( Q* \- c4 ?9 k" l! o& u5 k# W$ HA. Real GDP is above potential GDP 0 y6 ^7 R& L, {
B. Real GDP is below potential GDP
5 N" j2 O M2 K- h- m6 Y! IC. 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:1 ]1 \5 _0 F+ g6 ]
A. fixed in the long run& n! H5 d+ Y7 C, Q* `% z
B. variable in the long run
; L6 y" ^ H$ @# |1 R2 x8 I3 }C. variable in the short run
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& x2 m, {2 |6 L' J, R4. The total output in units and average selling prices in a hypothetical economy producing only two products, X and Y, is provided below:
+ N6 q, _1 ]) k. }- K* ]( J" A2 W| | 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:
0 |6 p' w5 p, I5 r( YA. 106.2
* E% l' C' j0 z3 n+ ?B. 106.8 8 Q; V$ Y$ D' t; N1 v( ]3 s& Q
C. 113.4
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4 Z% ~: m6 o M, J$ b9 ~5. In a sample economy with no foreign sector, the following equations apply:) l/ F S, ^3 X6 L% D
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| 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:
4 l% a! l4 }( s0 y7 a2 L9 nA. 1,000
& C/ q6 ? a' T; d0 LB. 1,163 ; Y- y1 g5 m7 U \$ N
C. 7,143
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