CFA Level 1 － 模考试题(1)(PM) Q41-45

catherine

Question 41
6 i% O) _+ H* g" s6 d4 @1 p2 EAn economy in long-run equilibrium experiences a cost-push inflation shock. If a feedback rule monetary policy that focuses on the price level is in place, which of the following effects of the monetary policy change is least likely?
8 }- P5 G6 U- x2 Q' D, D/ s* ~A)    Real gross domestic product decreases and the inflation decreases.
: H( C3 T: f1 `" ^% |( s% }B)   The price level decreases and output remains unchanged.
7 Y/ |' U& Q# p4 T+ fC)   The rate of money supply growth decreases.
D)   Aggregate demand decreases.

Question 42
8 {; Z- c1 {) G# M3 q. T8 ?The velocity of money is the:
A)    rate at which the price index for consumer goods rises.
3 _1 H) h" M! p' f: oB)   output expansion multiple of government expenditures.
) v' I/ T; x5 q! rC)   average number of times a dollar is used to purchase goods and services.
D)   number of times a dollar is taken out of the country during a year.

Question 43
0 j/ G$ z0 @3 `5 H8 h2 u6 e; X% wThe advantages of a proprietorship are least likely to include:
A)    ease of formation.
B)   simple decision making process.
C)   single taxation of profits.
) @( [% Y* ^6 ~) y* l# FD)   limited liability.
6 B7 A  n. L7 q
Question 44
In theory, the supply of a non-renewable resource is:
2 C& q/ c( P+ V  Y2 ~. q+ H) pA)    fixed over a specific period of time.
B)   perfectly inelastic at a price that equals the present value of the expected next-period price.
C)   perfectly elastic.
; E/ ~6 m2 m$ a& K, }- FD)   perfectly inelastic at the price where demand intersects supply.
2 v" x" g7 o* o0 @8 X' e
. q  O+ t/ A+ yQuestion 45
: @$ h- W# N$ t0 eDemand-pull inflation would least likely be caused by an increase in:
A)    the prices of raw materials.
B)   the money supply.
6 |" s/ l7 R2 L1 h% J4 \4 O- OC)   government purchases.
D)   foreign incomes.
$ z( z2 ]# `1 @

catherine

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