CFA Level 1 － 模考试题(1)(PM) Q41-45

catherine

Question 41
2 e% ]+ g$ U3 i/ R$ ZAn 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?
A)    Real gross domestic product decreases and the inflation decreases.
B)   The price level decreases and output remains unchanged.
C)   The rate of money supply growth decreases.
D)   Aggregate demand decreases.

! A9 V; p5 Y, \1 m- k. vQuestion 42
The velocity of money is the:
3 v- I5 t2 D2 j+ u8 qA)    rate at which the price index for consumer goods rises.
B)   output expansion multiple of government expenditures.
C)   average number of times a dollar is used to purchase goods and services.
9 s% U. K7 c+ d, U5 P. \# |$ g9 QD)   number of times a dollar is taken out of the country during a year.

8 j" w  ~& @- \Question 43
5 V% }# o, A" Y3 IThe advantages of a proprietorship are least likely to include:
A)    ease of formation.
3 H( \" ?5 |( u# A& {) H9 ?( dB)   simple decision making process.
$ _0 L& U2 q& x' g* f4 R+ ?: xC)   single taxation of profits.
8 K) q& H; B! G  n8 V) p+ [D)   limited liability.

Question 44
In theory, the supply of a non-renewable resource is:
A)    fixed over a specific period of time.
  ]9 x' a) m/ H! Y+ E3 h" cB)   perfectly inelastic at a price that equals the present value of the expected next-period price.
# P- I: B& d+ [  KC)   perfectly elastic.
; |4 p) a# r3 `D)   perfectly inelastic at the price where demand intersects supply.

Question 45
! i/ q( B0 @1 Z7 W6 u: pDemand-pull inflation would least likely be caused by an increase in:
A)    the prices of raw materials.
+ Q. k' W7 W* o6 {2 cB)   the money supply.
C)   government purchases.
0 ?4 F* O- C( h5 q: B+ C5 P, G% ID)   foreign incomes.

catherine

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