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CFA Level I:Economics - DEMAND AND SUPPLY ANALYSIS INTRODUCTION 精选题和学习要点( \# m3 c% ^! g# Z7 n
Demand and Supply Analysis: Introduction(Reading 13)
1 s2 l' O$ C- \' NLearning Outcome Statements (LOS)
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4 f" Y4 _8 }/ k# K3 G" wa. Distinguish among types of markets;
; u4 ]8 v5 o3 V: F; |+ mb. Explain the principals of demand and supply;
: H; A' z) Y1 f- fc. Describe causes of shifts in and movements along demand and supply curves;
: K6 a6 n' t- m E# Gd. Describe the process of aggregating demand and supply curves, the concept of equilibrium, and mechanisms by which markets achieve equilibrium;- C6 U& V5 y. O4 t/ W5 k; ]& N/ ]
e. Distinguish between stable and unstable equilibria and identify instances of such equilibria; . ; X( ]1 L) k6 `; N$ }8 X. v
f. Calculate and interpret individual and aggregate demand, inverse demand and supply functions and interpret individual and aggregate demand and supply curves;
2 b# C4 Z! I, s* s8 xg. Calculate and interpret the amount of excess demand or excess supply associated with a non-equilibrium price; $ s- d0 N- y/ X& h" h
h. Describe the types of auctions and calculate the winning price(s) of an auction; # T- X# h6 m# g% c; Q
i. Calculate and interpret consumer surplus, producer surplus, and total surplus; " j5 ^' o. c. i5 t! ?( @( E
j. Analyze the effects of government regulation and intervention on demand and supply;
* k* I5 r/ N& ^# o h+ Ok. Forecast the effect of the introduction and the removal of a market interference on price and quantity;
O+ a; r# O# E; \l .Calculate and interpret price, income, and cross-price elasticities of demand and describe factors that affect each measure;5 S6 {! i' C+ z2 @) m
% _0 {. D/ v, m1 k2 C5 x" g1. Consumer surplus is best describe as: # i0 B5 O/ j8 r8 D2 t: ?
A. Always less than or equal to zero
7 D# a9 l3 g8 d7 o8 NB. Always greater than or equal to zero
T2 V7 \* I, R5 I+ |( bC. At times positive and at other times negative
) O! P$ R, Y5 S7 H登录回复后可见:答案和详解
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2. If mangoes cost India Rupees (INR) 10 each, a consumer spends his budget on fruits that he values more highly than mangoes. However, at a price of INR 4 per mango the consumer buys 20 mangos. The total consumer surplus (in INR) is closest to: T h: {. l0 N h
A. 26
; R% W/ e4 D4 Q& s. N( ]B. 60
. B3 v& n. k( b9 R* ZC. 120 ( s' S9 ~1 p* z" l) c+ |
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3. Which of the following government interventions in market forces is most likely to cause overproduction?! Y0 n" W4 N; P+ B! i$ n
A. Price floors
% x7 X, ]$ j% G% _B. Price ceilings
( _3 ~4 W) Z6 o0 Q8 wC. Imposing an additional per-unit tax $1 on sellers % n" o! P; E# {- h
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+ {+ ~/ u" g# \. a1 }" B4. Demand for a good is most likely to be more elastic when:
4 O5 L; [& n; m; \0 k+ }A. the good is a necessity# o8 D. K. q+ O% r/ V) q
B. a lesser proportion of income is spent on the good * Z5 S% I ]& H+ w8 F0 @0 l9 v
C. the adjustment to a price change takes a longer time 3 c- m: q2 x7 ^$ y& m( j
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) m+ s/ p; o5 [/ u* u o3 f3 |4 r5. Over a given period, the price of a commodity falls by 5.0% and the quantity demanded rises by 7.5%. the price elasticity of demand for the commodity is best described as: 2 g* u# X0 H( C u9 O
A. elastic5 g1 S, f; O8 E: ^ r1 C4 b
B. inelastic : I& W! g6 U0 u5 O
C. perfectly elastic
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