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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 1 H. ?7 r- w3 _3 X& k4 l
* k3 y, J$ y6 U& FCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点5 Y) v- b% f- R& ?
Learning Outcome Statements (LOS)
: j- |5 {, l% Pa. Compare monetary and fiscal policy
* e; `# D. b6 s& Q: ^9 P. H% i1 O8 Vb. Describe functions and definitions of money
$ h1 C+ x1 E* ~. _0 ec. Explain the money creation process& a j8 W! h8 |
d. Describe theories of the demand for and supply of money
9 h2 ^ D" d! d/ A( d& x+ Se. Describe the Fisher effect
4 D0 Y# I% s1 ^: r5 r( S$ k; Jf. Describe the roles and objectives of central banks1 {/ F( _* \7 T) `4 A
g. Contrast the costs of expected and unexpected
5 ^0 d- H" s( P) z& @$ Ih. Describe the implementation of monetary policy& P, t: R1 v' }2 y( K
i. Describe the qualities of effective central banks
: e! Q9 t/ X7 b: M/ nj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
6 a/ `6 |0 s5 a% T* E; H) Sk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks5 Y5 R6 q/ I7 {' s
l. Determine whether a monetary policy is expansionary or contractionary- ^" j; X& e! W! s! G5 G1 h# ]
m. Describe the limitations of monetary policy6 Y8 \8 p+ h' F8 B. W
n. Describe the roles and objectives of fiscal policy! V( n9 p) s2 {3 G8 H' q4 x
o. Describe the tools of fiscal policy, including their advantages and disadvantages
6 c9 T% n6 ]3 W* {p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)1 C1 V) j$ R+ L& V) H/ d
q. Explain the implementation of fiscal policy and the difficulties of implementation& a. @- R- X. s
r. Determine whether a fiscal policy is expansionary or contractionary
' X) j8 w* W9 O5 H0 X' Os. Explain the interaction of monetary and fiscal policy
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D3 [+ D3 E r. u5 i! f; q+ DExercise Problems：$ Q- ^2 w( x5 J0 J5 i9 `4 r
1. The monetary policy tools available to the Federal Reserve are least likely to include：
8 M7 ^. b6 k' X2 QA. Open market operations * p1 g# ^3 z$ c, y- W [
B. The ability to determine the required reserve ratios of its member banks
4 w" ^8 w. u; k0 k3 b+ YC. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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答案和详解，登录后回复可见： * e" W. L- S) b6 s
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2. The primary monetary policy goal of most major central banks is best characterized as：
& B: K7 a3 L! k( lA. Containing inflation
; Y3 n4 G1 P2 WB. Stimulating economic growth
0 e' _: J5 Y z* y7 Z% _C. Maintaining low interest rates ' @2 v: O5 q" P$ R# V
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? % ~3 S! T5 \) A0 N) i( t
A. Increasing reserve requirements
5 ?* m: d. K+ {3 GB. Selling securities on the open market 3 T% @! ~" b1 c- ^/ I
C. Purchasing securities on the open market 2 G# W8 l6 v1 D! A: Z' G, K, d
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4. 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：
) F3 t' @% {) u3 AA. Contract the economy by reducing bank reserves ! ]/ R2 C/ H! L- z' p* K$ |
B. Expand the economy through a lower policy interest rate
o7 h, q. S6 y4 s# IC. Contract the economy through a lower policy interest rate
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3 ^! ?+ i4 A1 ` b9 g, K5. 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：
/ O3 W8 b" L, Q( k$ EA. increase
9 C+ \) b |7 s& d8 Q2 Z% _7 MB. decrease : r# J7 o8 _9 Z- s5 }( a% f4 y- O
C. 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