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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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. D) k9 D" e2 ]; a' S- Y" @CFA Level I:Economics - Aggregate output, price, and economic growth 精选题和学习要点
4 u$ e+ }3 a& {* V6 h7 [) GLearning Outcome Statements (LOS) 6 A8 l6 b+ Y7 _# g( c7 U1 v8 Q
a Calculate and explain gross domestic product (GDP) using expenditure and income approaches;
/ {9 v5 ]; P0 W+ L* ab Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
7 a8 ^8 @8 s, ^% |& n! z3 rc Compare nominal and real GDP and calculate and interpret the GDP deflator; ; {' |+ |- E% N! Z5 L9 Y
d Compare GDP, national income, personal income, and personal disposable income; - k' n, ~# v2 T; K
e Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance;
* ~; H+ e) E2 t1 S% ^% l' B) q J3 ~7 Bf Explain the IS and LM curves and how they combine to generate the aggregate demand curve; % B& d- S5 u, j& K& @3 ^$ w
g Explain the aggregate supply curve in the short run and long run; 5 R# C! O% A4 n7 \
h Explain the causes of movements along and shifts in aggregate demand and supply curves;
$ I8 p5 g# L! f( ]) v9 T; s8 Gi Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle;
% N" [& l+ C+ xj Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment;
) |, f& G. F% T) D! vk Analyze the effect of combined changes in aggregate supply and demand on the economy; ) i' v; Y, ~! q8 a" E- c" \
l Describe the sources, measurement, and sustainability of economic growth; 4 T" {. f' l( g$ Z4 {; D2 x
m Describe the production function approach to analyzing the sources of economic growth;
( W7 L4 W$ {* r" U/ Sn Distinguish between input growth and growth of total factor productivity as components of economic growth.: g! q! `, 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?
- c) Z# ?; F5 ~* e1 L| | 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) i( F |' ^1 p, r; j
登录回复后可见:答案和详解) Y- a( a P" [4 u' ]6 I
Answer:A
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) D+ c e6 g7 F2 t& p2. A recessionary gap is more likely to be observed when:
5 }0 ]! z# }# C @A. Real GDP is above potential GDP
5 y! r4 |; b b2 H) GB. Real GDP is below potential GDP
( W; `- V; o2 F4 r# gC. 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 ^7 v' c/ C5 ^$ o z5 t( B; EA. fixed in the long run6 k# ~6 s+ g! i, W
B. variable in the long run $ C- I7 B+ O/ o% ^" h* ?6 J
C. variable in the short run K& P# R* b+ t3 m( ~' D8 H! S
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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:. O) `9 {) D- k1 S3 G' 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: . _$ l) V) `" r! f2 T
A. 106.2
[) |3 P% J1 i# VB. 106.8
# {; ]" s7 p2 r7 XC. 113.4 2 _( Q& ] t0 y& ~! t* }. k! C
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5. In a sample economy with no foreign sector, the following equations apply:
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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:
- _) `+ P: J } q. AA. 1,000
$ t3 f( S5 s6 W& O/ CB. 1,163 b) _2 d- t# X, B
C. 7,143 + O0 L; l. t/ H5 p" h. B
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