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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
- s' g5 _* O4 s. ^& yLearning Outcome Statements (LOS)
! W# ~; p# l2 P7 R5 Sa. Compare monetary and fiscal policy
% S' ?6 h! z6 n; {b. Describe functions and definitions of money1 a# c! u- n, B0 O9 W) ^7 u
c. Explain the money creation process$ k; E+ g* }! h/ a5 x
d. Describe theories of the demand for and supply of money# q! Z9 N: N0 \! n7 P7 Y
e. Describe the Fisher effect
4 p4 U, K+ L2 \0 |* if. Describe the roles and objectives of central banks* f8 ^3 P1 s% F% j2 v
g. Contrast the costs of expected and unexpected" b: x; h2 s5 X3 Y
h. Describe the implementation of monetary policy
9 c h: |3 y0 b" s& C/ F# r3 R8 Xi. Describe the qualities of effective central banks
. f# a% q8 u$ [$ @/ V! O. p2 t, gj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
" ?$ @# c; z5 j# f w' s2 h, kk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks4 A7 R8 S% T. r1 y- [( F; l
l. Determine whether a monetary policy is expansionary or contractionary
4 ~* h: s ~% `0 Y3 g+ Mm. Describe the limitations of monetary policy
# P. V( o2 Z: A1 i* [: ]; e# y" rn. Describe the roles and objectives of fiscal policy
' q/ `/ b2 o+ m/ W& ~: fo. Describe the tools of fiscal policy, including their advantages and disadvantages
" J1 E T4 {1 j) {& Hp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)9 {% R4 w, T; M8 s5 v
q. Explain the implementation of fiscal policy and the difficulties of implementation
4 V5 r9 z" V( K6 p5 x9 C' F: or. Determine whether a fiscal policy is expansionary or contractionary s! _9 O4 ^; @$ x" f) ~/ Z
s. Explain the interaction of monetary and fiscal policy
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Exercise Problems：
, d) Q3 {5 S/ ?, f1. The monetary policy tools available to the Federal Reserve are least likely to include：) v& Z+ ]1 t, P V& z# G+ z/ ]) I
A. Open market operations
! r8 a" [# r6 A7 Q GB. The ability to determine the required reserve ratios of its member banks
( T) A0 P6 V! N; W" JC. Adjustments to the amount of gold held as reserves against Federal Reserve notes 6 E2 O- a# G6 u/ i9 n2 J ~; m$ c% q
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答案和详解，登录后回复可见： $ F% q$ k. P+ r. f; J6 Z
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6 @8 H4 ?; a% P2. The primary monetary policy goal of most major central banks is best characterized as：7 n- u/ q2 i5 t4 ?
A. Containing inflation
S6 e" L# g; d) z3 t- w) lB. Stimulating economic growth
+ q9 h1 }: C; u: r9 i& ~C. Maintaining low interest rates
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? 4 G. g# c0 O4 U* K% J. q8 k$ w" |
A. Increasing reserve requirements
( v9 ~4 C$ r$ nB. Selling securities on the open market
; V: H0 Q" b, q9 L$ p+ F7 a" _% xC. Purchasing securities on the open market 0 R9 t# K2 Z6 w
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& G! g1 X, ?+ }# h4. In an effort to influence the economy, a central bank conducted open market activities by selling government bonds. This implies that the central banks is most likely attempting to：; c3 o" ?: V ^' O
A. Contract the economy by reducing bank reserves
5 o/ M; t! F% e4 L+ z. N. `3 WB. Expand the economy through a lower policy interest rate $ G" u4 z) d/ ?
C. Contract the economy through a lower policy interest rate
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5. If a government increases its spending on domestically produced goods by an amount that is financed by the same increase in taxes, the aggregate demand will most likely：. Q d/ k, _- o, z
A. increase
/ Y8 D3 r, W \ b1 S0 xB. decrease
, {- g7 v2 {. q: h) s' i; SC. remain unchanged
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发表于 2016-1-19 09:36:44
发表于 2016-1-25 10:41:11
让我对对答案吧，大神们