CFA Level 1 － 模考试题(1)(PM) Q41-45

catherine

Question 41
8 \) v% ^, y5 }: I0 ?An 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?
) E! s0 e  R7 T$ ]. b, G1 `) _) z0 WA)    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.
1 M; ], O0 z5 N- n7 G: @8 ~D)   Aggregate demand decreases.

Question 42
The velocity of money is the:
A)    rate at which the price index for consumer goods rises.
1 k5 {/ L1 y; U, E( yB)   output expansion multiple of government expenditures.
. v6 e9 J, l2 m' vC)   average number of times a dollar is used to purchase goods and services.
2 Y5 r+ Y. A/ c7 {7 K& XD)   number of times a dollar is taken out of the country during a year.

$ b- f9 E( |3 v, MQuestion 43
# ^6 ~3 s" [# z( }2 T( H( uThe advantages of a proprietorship are least likely to include:
A)    ease of formation.
B)   simple decision making process.
( q) Y2 M* I5 I& \  ^! IC)   single taxation of profits.
# m9 M* I. h$ o8 eD)   limited liability.

Question 44
In theory, the supply of a non-renewable resource is:
A)    fixed over a specific period of time.
# \; W) \  A/ D5 F: x) ~' IB)   perfectly inelastic at a price that equals the present value of the expected next-period price.
8 F" c% j, I+ y! W% n" bC)   perfectly elastic.
/ d6 o7 R  l8 u  q0 L1 r. x6 _D)   perfectly inelastic at the price where demand intersects supply.
  s2 j8 B  K& h# b: i1 l7 P- n, a9 I9 q8 l
Question 45
( A3 a& f6 S; {  z! g" _Demand-pull inflation would least likely be caused by an increase in:
A)    the prices of raw materials.
! T! T) }2 v# [) @1 x0 J* KB)   the money supply.
C)   government purchases.
. @7 H* S$ F# }" R  jD)   foreign incomes.
9 I+ s' ?2 c! g+ U, g

catherine

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