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本帖最后由 一起学CFA 于 2016-1-25 13:30 编辑 0 K3 g5 Q( I) t7 E
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CFA Level I：Economics - Aggregate output, price, and economic growth 精选题和学习要点$ ^) y0 P1 b, s! J( C
Learning Outcome Statements (LOS)
7 q3 |) T; z* c! o/ a4 Ua Calculate and explain gross domestic product (GDP) using expenditure and income approaches; 4 ]2 d% m- e- U9 L% G5 M
b Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
; I, v( ?2 d# B* Y# sc Compare nominal and real GDP and calculate and interpret the GDP deflator; # ?* S* N7 h* `5 n; W, |
d Compare GDP, national income, personal income, and personal disposable income;
8 j+ j( \) b: s8 {- o8 e$ O* Pe Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance; 7 _) j( [- D1 U8 R8 o, n; G5 W
f Explain the IS and LM curves and how they combine to generate the aggregate demand curve; : Y$ S- n4 f- C: l1 y/ R
g Explain the aggregate supply curve in the short run and long run; 1 I- ?, Z5 K; I4 Z: e
h Explain the causes of movements along and shifts in aggregate demand and supply curves;
0 \" o7 K0 P/ g* n& k! ei Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle;
8 U$ F( m+ V+ Ij Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment;
$ g7 m- k) A& N+ @% wk Analyze the effect of combined changes in aggregate supply and demand on the economy; 8 I. @8 G! S# g- ?, l, z! m- {6 I
l Describe the sources, measurement, and sustainability of economic growth; " L/ l( X' T1 c' F- k6 e' r
m Describe the production function approach to analyzing the sources of economic growth;; [. q+ u4 }0 A' ~
n Distinguish between input growth and growth of total factor productivity as components of economic growth.* o) ^3 e8 N/ |
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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?3 u* f7 @2 x4 N5 A
| | 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
# s6 b5 O- I8 b! U4 o7 H登录回复后可见：答案和详解
' J% t V% u2 G1 U/ q4 {% W5 jAnswer：A
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2. A recessionary gap is more likely to be observed when:: @( U- y$ n. y. q5 B9 U
A. Real GDP is above potential GDP
2 \; k( [% f; PB. Real GDP is below potential GDP
7 y- I9 @% S, Q5 OC. 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 t# [0 e( A' t: Y( }: O
A. fixed in the long run
0 g# q- r& x0 Q0 B1 m0 sB. variable in the long run
0 D9 ~7 h2 b0 Z0 ]2 XC. variable in the short run ( K% z1 s- _; N" f1 E
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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:
; ]& Z' U2 s' X7 s+ E# `) F0 R| | 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: & R! A# |* `4 E6 _" ]* Q6 H
A. 106.2
4 X4 B" S# z# NB. 106.8
w! V2 r- x5 a0 x( `C. 113.4
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5. In a sample economy with no foreign sector, the following equations apply:% _1 @6 u9 R9 B$ e; k# j
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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: 8 e* v. K3 v# P9 I2 h( W0 N9 q7 P
A. 1,000
2 Z% W$ y N0 v1 vB. 1,163 ; c4 S. ^' J& v0 ]2 R, ?
C. 7,143
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发表于 2016-1-25 13:27:44
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