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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 6 S+ @& u2 q0 ~! q8 V9 o
* b1 \1 Z1 C0 T8 L: \. R- E( N xCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点4 x* [) H) ~& a
Learning Outcome Statements (LOS)
# t5 P0 R/ ^6 na. Compare monetary and fiscal policy
3 k6 m( J# W+ |3 bb. Describe functions and definitions of money
* a4 d$ Y X3 A+ bc. Explain the money creation process
4 w4 x( A$ D5 B/ f' s1 R% J s& wd. Describe theories of the demand for and supply of money) W, F5 ~4 V% a% c
e. Describe the Fisher effect* A$ N* q+ k( I9 }' U' T8 Y
f. Describe the roles and objectives of central banks: {9 I* T O% w9 Z/ Q' z, t
g. Contrast the costs of expected and unexpected2 Z! l/ u+ d! `
h. Describe the implementation of monetary policy
5 C) k) {7 v. Q6 H2 C( m2 Fi. Describe the qualities of effective central banks
: W5 ]4 Y5 a V1 n+ C7 W4 o, }j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates9 g2 s/ H" d5 }8 r1 k
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
8 k+ U' S3 l+ O* j3 W( |1 Vl. Determine whether a monetary policy is expansionary or contractionary" f( `" Z/ r: V+ e! Q
m. Describe the limitations of monetary policy. S# B3 X v, [( f
n. Describe the roles and objectives of fiscal policy+ G5 E7 r% m+ }. i8 W& @- Z
o. Describe the tools of fiscal policy, including their advantages and disadvantages
; ^8 X' j% @& C6 M, x# Gp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)4 o% |5 E& T% Z) F, {3 ^ ?* s$ U+ a
q. Explain the implementation of fiscal policy and the difficulties of implementation4 k! m: m2 u9 a0 f. O. K5 _; L
r. Determine whether a fiscal policy is expansionary or contractionary) U ^7 z$ c% L- B N
s. Explain the interaction of monetary and fiscal policy
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3 y" H0 Y4 C4 E6 h { R7 w: G6 i$ _Exercise Problems：8 v1 O H, w$ t' l3 @# o1 Y( b
1. The monetary policy tools available to the Federal Reserve are least likely to include：
* b( G7 f; {- h% L2 T" m l3 lA. Open market operations
' x% i$ \; U9 l4 r; uB. The ability to determine the required reserve ratios of its member banks 7 x v) o ^# P/ C1 W
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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答案和详解，登录后回复可见： 0 H3 f2 h' {$ j Z/ W7 v4 P# I
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2. The primary monetary policy goal of most major central banks is best characterized as：+ ~9 M& j5 C2 N3 e( Q; {9 m
A. Containing inflation 6 |% ^% Q! H# |
B. Stimulating economic growth ( e+ Q7 Z6 b& Y N8 D% s" [5 ]
C. Maintaining low interest rates
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$ Q& v6 w1 {+ Z) D, g8 p3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
! i# C6 p! T- Y7 }A. Increasing reserve requirements
G, G( O+ P! T5 n. y8 i4 T9 M) Z) ]B. Selling securities on the open market 9 R. s6 B7 ~; F$ A' D; |! O
C. Purchasing securities on the open market ) {- B7 e% u9 v, x( u
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4. In an effort to influence the economy, a central bank conducted open market activities by selling government bonds. This implies that the central banks is most likely attempting to：5 p) q8 d$ Y5 S4 d
A. Contract the economy by reducing bank reserves
# V4 L! k0 {& ]; ?8 w4 z wB. Expand the economy through a lower policy interest rate / ~/ \3 S% D& {
C. Contract the economy through a lower policy interest rate 4 ]$ H6 k e, A; u9 Q" l2 R# O
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# S" _/ _- x2 }/ @& n5. If a government increases its spending on domestically produced goods by an amount that is financed by the same increase in taxes, the aggregate demand will most likely：
. z( q: {* ]7 d2 q* |' uA. increase
8 t. F# t0 H* B) A% Z$ F. T: @B. decrease
! [: b: ^. H9 P& \' D2 ^" gC. remain unchanged " M$ G1 g V& q1 \' e
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发表于 2016-1-19 09:36:44
发表于 2016-1-25 10:41:11
让我对对答案吧，大神们