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本帖最后由 一起学CFA 于 2016-1-25 13:30 编辑 7 X7 Q% P# R1 c1 Y/ d
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CFA Level I:Economics - Aggregate output, price, and economic growth 精选题和学习要点( e. p: m" c$ G" i8 Q* A
Learning Outcome Statements (LOS) 6 R; |/ K) d9 Q& K' E
a Calculate and explain gross domestic product (GDP) using expenditure and income approaches; / s5 N7 M7 X; i2 _! N
b Compare the sum-of-value-added and value-of –final-output methods of calculating GDP; 0 N; u; d2 v; i, n" E% k. T
c Compare nominal and real GDP and calculate and interpret the GDP deflator; 9 }1 `' A+ ~8 a5 C# |0 y0 W
d Compare GDP, national income, personal income, and personal disposable income;
$ u( T' q; g4 O# q9 [7 ]$ Ge Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance;
# O/ |! Q+ m. Nf Explain the IS and LM curves and how they combine to generate the aggregate demand curve;
# u2 o$ J! }7 P0 h' Yg Explain the aggregate supply curve in the short run and long run; / O% ^7 ~4 l8 X# [- n7 i
h Explain the causes of movements along and shifts in aggregate demand and supply curves;
5 E8 S8 Y% C6 U) U9 E9 f- Wi Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle;
" r& @: x& ~% \# I: aj Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment; 5 S! m8 d' M+ W' _( y- U7 G' _5 t5 q
k Analyze the effect of combined changes in aggregate supply and demand on the economy; ! P! t0 P' m: b8 [( V
l Describe the sources, measurement, and sustainability of economic growth;
% @; {4 J7 J5 bm Describe the production function approach to analyzing the sources of economic growth;
2 P( s5 H8 C+ d! c _$ mn Distinguish between input growth and growth of total factor productivity as components of economic growth.
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0 M! \' ~# a4 O9 F" J: ]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?
f+ N* o" b6 q' ]+ u/ {, j( V| | 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+ w, b t+ Q# |2 J) p( o: j
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T$ H2 K3 A; b. P. I Q8 i2. A recessionary gap is more likely to be observed when:+ A* s# O& G' Z% U/ b7 V& q
A. Real GDP is above potential GDP ( x! z4 u% W) S6 P; S& D
B. Real GDP is below potential GDP
4 R% ]7 M1 j7 ?$ X( \: nC. Employment is above full-employment equilibrium; R! P9 g4 N( f- } a
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3. Regarding a company’s production function, both labor costs and capital costs are best described as:$ G4 X$ k& g! V/ {
A. fixed in the long run% h6 z2 w ] Y \% d- x c
B. variable in the long run 3 ^; M0 B( L& j
C. variable in the short run
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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:
# t, h0 s/ C0 _9 a* B- @: E8 D| | 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: ) O7 n9 |; ^ U+ Q Q# e7 ~
A. 106.2 : w. \1 m3 N2 k% o9 e1 g4 f
B. 106.8
: Q- ~# g2 S# \! }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:
" O6 @( T) f2 g# e. n. NA. 1,000 , U: {0 d. ]5 c' O
B. 1,163
/ B* m7 P% w: O4 xC. 7,143
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