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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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CFA Level I:Economics - Aggregate output, price, and economic growth 精选题和学习要点
1 S+ j" g0 i( h, y/ DLearning Outcome Statements (LOS)
. h8 r$ I2 F0 o6 f2 ]7 ha Calculate and explain gross domestic product (GDP) using expenditure and income approaches; . n+ u8 k7 F7 q+ r& \3 }' Q
b Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
' |* Y r8 u, [; x( o3 W% h" ?9 Ic Compare nominal and real GDP and calculate and interpret the GDP deflator;
/ ?$ A1 L; |% W. c0 T; S/ c1 Y/ ad Compare GDP, national income, personal income, and personal disposable income; 4 z: w1 U* a, @6 N$ O" z8 {
e Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance; , V* K" v! z, L3 W9 {2 T
f Explain the IS and LM curves and how they combine to generate the aggregate demand curve; ; x, ]! S7 g( y' L* p% p
g Explain the aggregate supply curve in the short run and long run;
: N3 R0 O+ A" h0 l$ Hh Explain the causes of movements along and shifts in aggregate demand and supply curves;
$ k& ?) s# | t9 ]5 ~i Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle; ) Y# T) k$ m% U. E$ w" w8 s1 p
j Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment;
6 m' a) X1 G* O5 _" \9 x6 Rk Analyze the effect of combined changes in aggregate supply and demand on the economy;
, E& F; G3 u$ k* R3 ^ a( fl Describe the sources, measurement, and sustainability of economic growth;
8 f& C; ?5 W, B+ U% x- o8 bm Describe the production function approach to analyzing the sources of economic growth;6 o* a; t- d' u g# C
n Distinguish between input growth and growth of total factor productivity as components of economic growth.- V* o) _( C. M7 N/ U: h
7 k; O3 g5 N. A9 l5 k1. In regard to the aggregate demand curve and an increase in one of its associated factors, which of the following relationships is least accurate?
0 o0 u" T `1 C j% h6 k9 |; d| | 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
" n- F9 D: b& e. c0 Y7 R登录回复后可见:答案和详解0 R( X( c N0 H$ K7 L- B: h
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2. A recessionary gap is more likely to be observed when:
$ {1 b9 j* n' `. X, ~8 v7 V4 aA. Real GDP is above potential GDP
5 O/ r& }% X/ u0 LB. Real GDP is below potential GDP : F* ^ X' i& ]# {9 M3 w k T# B
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:
. N1 O6 r: M# L7 V& v6 }. b$ _, N4 xA. fixed in the long run+ W4 }4 P3 q8 U
B. variable in the long run w8 g8 F" |# n6 O2 z
C. variable in the short run 5 h% g: L6 _* ^9 A4 Q
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' `# F. X& Q! x, U8 F: w" l4. The total output in units and average selling prices in a hypothetical economy producing only two products, X and Y, is provided below:' t7 _- l( z/ j8 z" x6 l9 A* V( Z
| | 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:
/ Q4 I! m- K+ p+ C& q7 m" |& t2 `A. 106.2
5 m# P; z; ?. w2 ?+ N* I+ KB. 106.8 0 a6 b1 A. C: s, f' X8 y7 U
C. 113.4 & _5 l; j J: n P$ Q% I
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5. In a sample economy with no foreign sector, the following equations apply:2 ?/ P" R. ~0 k& V4 E% b+ w
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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:
" G& r' e0 M: R5 CA. 1,000
! U+ O% ]- p5 j" ?B. 1,163 6 b6 s/ Y, A* b- x" ^. b
C. 7,143 4 `1 e4 e9 H( w4 b6 S' Z
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