CFA Level 1 － 模考试题(1)(PM) Q41-45

catherine

Question 41
$ Z4 r/ ^% A% r6 q; D2 |+ K; WAn 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 Z: |0 Q5 G1 D6 z$ t6 cA)    Real gross domestic product decreases and the inflation decreases.
7 X4 B8 s' }+ v* Z- b- NB)   The price level decreases and output remains unchanged.
, j  g/ C  }1 _4 ~3 F! {" x& FC)   The rate of money supply growth decreases.
4 a; D8 ]) u5 F2 k' H  HD)   Aggregate demand decreases.
  d% P4 k* o3 H
. x1 R: H$ U3 y' A, v- \- C+ FQuestion 42
The velocity of money is the:
6 B% {2 A4 y/ [8 b  j( D. E5 K! wA)    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.
D)   number of times a dollar is taken out of the country during a year.

$ y7 @' w# G4 P, TQuestion 43
' N. ^% @5 l' |- a: a6 y) t. PThe advantages of a proprietorship are least likely to include:
A)    ease of formation.
% g3 l0 l* ^- c* T" F0 D3 F5 qB)   simple decision making process.
C)   single taxation of profits.
5 D' ]* K# N* ]( n4 A  pD)   limited liability.

Question 44
+ k" K" C7 @" ?8 \- v; iIn theory, the supply of a non-renewable resource is:
% l/ i: a; w, B8 X  wA)    fixed over a specific period of time.
0 V; N% Z9 s: D6 f/ yB)   perfectly inelastic at a price that equals the present value of the expected next-period price.
. ^, L1 |. K! _, R, iC)   perfectly elastic.
4 Y: ^! ]  Z% K4 ~. [D)   perfectly inelastic at the price where demand intersects supply.

* R+ }$ l6 Y  a6 R( k- t$ [* }Question 45
Demand-pull inflation would least likely be caused by an increase in:
A)    the prices of raw materials.
8 h1 U  D" B0 G" pB)   the money supply.
C)   government purchases.
  l' n" P+ s3 S8 L8 }* WD)   foreign incomes.
1 p% M/ ~3 a/ N( _

catherine

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