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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
2 {4 W: m, B) `0 \8 ELearning Outcome Statements (LOS) 0 i, ^5 n& V( @4 v$ h) l8 ^! s( W
a Calculate and explain gross domestic product (GDP) using expenditure and income approaches;
/ _0 V+ l% f' O3 y2 ub Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
$ \, @& \' A% u& c2 n ]& L+ F' Q1 pc Compare nominal and real GDP and calculate and interpret the GDP deflator;
1 G8 o: U& w4 K, Od Compare GDP, national income, personal income, and personal disposable income;
! J% n0 v& @# m. Ne Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance;
9 S! V0 B: C' f9 q+ Qf Explain the IS and LM curves and how they combine to generate the aggregate demand curve;
; H: t! a' N: r" t5 f9 u' t$ Zg Explain the aggregate supply curve in the short run and long run;
: k/ K3 p- n' l' [+ n% T3 Rh Explain the causes of movements along and shifts in aggregate demand and supply curves;
8 I, @- f( m/ D/ j3 N$ b3 }0 x# Ei Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle; 9 j# i2 c2 [# u4 n* H3 ]( e( B7 b
j Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment;
" t! F" B/ @, }+ M, c3 L! tk Analyze the effect of combined changes in aggregate supply and demand on the economy;
: n2 o$ [2 U- {* L1 nl Describe the sources, measurement, and sustainability of economic growth;
7 @/ P5 s2 z4 V) n3 N9 s. Gm Describe the production function approach to analyzing the sources of economic growth;
% B7 T" H( |' t; E0 W3 C0 Mn Distinguish between input growth and growth of total factor productivity as components of economic growth." P2 E5 z; I' V, y# V' o9 }+ q, w
+ [( h1 Z3 H4 w5 B) T8 j& }1 f: W0 O1. In regard to the aggregate demand curve and an increase in one of its associated factors, which of the following relationships is least accurate?. l: K+ E5 V* ?! W6 U) Q
| | 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
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Answer：A$ k0 h" u% l" p9 e! k
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. d8 m. E- I! f1 c3 m0 P ~( v* h2. A recessionary gap is more likely to be observed when: k9 ^# Z- p. X, ?% S
A. Real GDP is above potential GDP
/ X; I& F2 o! [3 {B. Real GDP is below potential GDP $ s4 x7 }& N1 k2 u0 g! E
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:5 m( [* [ y* l7 O
A. fixed in the long run" S2 p" m; Q U# ]+ S/ S, h
B. variable in the long run
) G% j6 O1 ^- KC. variable in the short run 6 b' _0 ?2 U& \ Y
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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:* e4 k. D! @% e
| | 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: }% m8 |( m, U0 Z8 W
A. 106.2 / t& a; ~/ o) N$ H1 x; R
B. 106.8 ( ^; V3 Y/ x& u6 v! ]- A. l. V
C. 113.4
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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: 1 x% b9 c+ D, X+ r
A. 1,000
6 M6 \0 S n6 I) ?0 `5 Z* iB. 1,163 % B/ i( n! A. C5 A0 u6 J
C. 7,143 + n' d, {8 q% t9 A% f
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发表于 2016-1-25 13:27:44
发表于 2019-5-20 11:23:15
