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本帖最后由 一起学CFA 于 2016-1-25 13:30 编辑 ( ~ m3 M9 o* T& H+ T4 w
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CFA Level I：Economics - Aggregate output, price, and economic growth 精选题和学习要点2 j3 \8 d9 C* b- u! @& l
Learning Outcome Statements (LOS)
, C/ F( T0 ~" }. n7 M- a0 R$ R6 \; pa Calculate and explain gross domestic product (GDP) using expenditure and income approaches;
! e- ^3 a' s& N M6 }$ E) tb Compare the sum-of-value-added and value-of –final-output methods of calculating GDP; 0 X3 U* l5 d3 h {! b* ~& ^2 f3 Z
c Compare nominal and real GDP and calculate and interpret the GDP deflator;
& A, Q. E9 ~; P3 [d Compare GDP, national income, personal income, and personal disposable income;
) L- X9 Y/ h0 `( ]$ fe Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance;
0 x9 i! \) b" h7 y! A; k* Gf Explain the IS and LM curves and how they combine to generate the aggregate demand curve; ( N: R6 Q: P2 j" D' o. G2 A
g Explain the aggregate supply curve in the short run and long run; ; {% t' z ~4 c$ d8 S( e; ]3 H4 r
h Explain the causes of movements along and shifts in aggregate demand and supply curves;
4 l ~% \) {4 F0 zi Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle;
6 ^: \: v4 C2 O: Fj Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment; ( ~8 K3 n0 V5 T, \% O- `; `
k Analyze the effect of combined changes in aggregate supply and demand on the economy; 0 t q% I; C# H$ e/ X
l Describe the sources, measurement, and sustainability of economic growth;
1 c9 R* l7 A, }9 ~3 i2 `7 t) Jm Describe the production function approach to analyzing the sources of economic growth;# K2 ~/ `* R9 P
n Distinguish between input growth and growth of total factor productivity as components of economic growth.
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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?) l6 C/ G/ s7 t6 S! k3 ]
| | 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$ Y; Q; u0 E5 P5 E8 z
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* g: d6 L6 j, f2. A recessionary gap is more likely to be observed when:
: U. E& @4 E Q. p, fA. Real GDP is above potential GDP
6 S2 y) e0 p. B( ?5 hB. Real GDP is below potential GDP . A" r2 w3 W% x: y1 `
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:
+ A: {+ G* N4 G% Y+ yA. fixed in the long run
; U% z" _- s$ JB. variable in the long run
0 a+ R& n. Z9 x5 P/ r! ]" Z/ ^# VC. variable in the short run # [4 q& |& o3 n% a* ?* E3 V
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9 Z$ S; A d/ X% Z) b0 M4. The total output in units and average selling prices in a hypothetical economy producing only two products, X and Y, is provided below:
& e. x6 E8 T, _6 Q o8 U- }$ W9 W| | 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: 9 x1 f$ ] `- W" q; |
A. 106.2
8 f6 e% {: H( b' U* ]$ yB. 106.8
. e# ^+ W8 m7 u9 UC. 113.4 & _4 d$ ?1 Q' U
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5. In a sample economy with no foreign sector, the following equations apply:5 P" a) t7 O) ^9 h
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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: # Q/ I% P D5 e5 b3 b: ?
A. 1,000 * A: g0 t& d1 k9 h" o" a
B. 1,163 ( y1 O6 i3 `1 K# x: s+ [ j
C. 7,143
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发表于 2016-1-25 13:27:44
发表于 2019-5-20 11:23:15
