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: X) \% o7 u1 m& G* }CFA Level I:Economics - DEMAND AND SUPPLY ANALYSIS INTRODUCTION 精选题和学习要点7 L7 p* ]6 S( z7 x
Demand and Supply Analysis: Introduction(Reading 13)
- R; T3 |$ f; w* ULearning Outcome Statements (LOS) * P$ K( q7 x6 Q- k
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a. Distinguish among types of markets; . e: i E$ d0 C5 [1 @1 x! M- A G
b. Explain the principals of demand and supply;
3 d( [# [6 T5 k( o9 Mc. Describe causes of shifts in and movements along demand and supply curves; + Y: \3 s3 t7 q% e6 g4 ?# }2 ?
d. Describe the process of aggregating demand and supply curves, the concept of equilibrium, and mechanisms by which markets achieve equilibrium;4 E; o$ i# F P# Y! R3 P9 u
e. Distinguish between stable and unstable equilibria and identify instances of such equilibria; .
* q; Z' V5 p# L) p1 X' y6 {f. Calculate and interpret individual and aggregate demand, inverse demand and supply functions and interpret individual and aggregate demand and supply curves; ; O; h5 z! h% o4 l" s e
g. Calculate and interpret the amount of excess demand or excess supply associated with a non-equilibrium price;
3 j- d6 _3 a' k+ Eh. Describe the types of auctions and calculate the winning price(s) of an auction;
+ [+ T0 e E+ {. e0 Z1 Vi. Calculate and interpret consumer surplus, producer surplus, and total surplus;
1 F# B6 h2 ?6 xj. Analyze the effects of government regulation and intervention on demand and supply; 6 X7 M' J$ m$ ?- T6 e8 _" B
k. Forecast the effect of the introduction and the removal of a market interference on price and quantity;
; C h; f, p* @1 f+ M. ]) H1 Al .Calculate and interpret price, income, and cross-price elasticities of demand and describe factors that affect each measure;
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1. Consumer surplus is best describe as:
( w: a( A4 S+ p5 D( @ p4 EA. Always less than or equal to zero 2 F5 t' C/ G5 K( T$ X. |
B. Always greater than or equal to zero 7 i4 ]2 l3 e) t( ^9 X
C. At times positive and at other times negative . d- m& [& T! W% o! [% i( `% D/ A
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2. If mangoes cost India Rupees (INR) 10 each, a consumer spends his budget on fruits that he values more highly than mangoes. However, at a price of INR 4 per mango the consumer buys 20 mangos. The total consumer surplus (in INR) is closest to:
! {: ` \. h' ^- w/ h; {8 d! w. q3 BA. 260 O' U R1 w8 r2 M
B. 60 ! {9 W5 k6 ~/ `2 ^6 ?6 \
C. 120
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/ E2 K9 A Z: O0 B, V5 P& \3. Which of the following government interventions in market forces is most likely to cause overproduction?
% ?% k0 Z& f1 T) {/ uA. Price floors
& i7 s( C6 y$ Z& {1 E2 d8 P# r: iB. Price ceilings
4 D( K L; }% z4 `5 K8 CC. Imposing an additional per-unit tax $1 on sellers ( n9 n) i1 P5 L$ w) p) \( @
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4. Demand for a good is most likely to be more elastic when: ( H/ }) u3 I0 J+ m }6 [, p( t
A. the good is a necessity
+ F& m4 O9 b) A' fB. a lesser proportion of income is spent on the good ( z# E# p: d+ s4 }# [' c
C. the adjustment to a price change takes a longer time + @6 C% \8 m* G6 Y* ~5 G
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5. Over a given period, the price of a commodity falls by 5.0% and the quantity demanded rises by 7.5%. the price elasticity of demand for the commodity is best described as:
7 ^/ f2 m5 p% M) \( P: ^A. elastic# M' x5 f$ Z) o. ?" w5 p0 }
B. inelastic + T& G' t# \5 E: b
C. perfectly elastic % h( k5 q* l$ C* n$ F: L
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