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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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# i5 c: }0 V7 ?2 N# u. iCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点' S% N }+ y. r- C
Learning Outcome Statements (LOS) 3 O$ Z; P( z. d) q
a. Compare monetary and fiscal policy, G% y R. q- `- g
b. Describe functions and definitions of money
# F( I3 U: }; i( R2 i/ Mc. Explain the money creation process: b2 c$ L, `' G& V0 W/ F
d. Describe theories of the demand for and supply of money
7 ]4 H& v; A5 P* re. Describe the Fisher effect
$ U: r; O( w7 l# k* i! x" Pf. Describe the roles and objectives of central banks
) X: ]$ I L1 |. a! og. Contrast the costs of expected and unexpected/ i# ?! G2 W' d3 \
h. Describe the implementation of monetary policy
9 S& U7 Q& W& y, oi. Describe the qualities of effective central banks) w/ S; n. E* i5 O" ?
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
" p8 O( ^: b$ dk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
5 ~3 {# m I+ y2 u) e3 r! ]6 ol. Determine whether a monetary policy is expansionary or contractionary- K+ o; Y* m7 K! ]7 i4 F
m. Describe the limitations of monetary policy: N5 ~% _1 ~/ G: z1 ?
n. Describe the roles and objectives of fiscal policy
4 r- B/ e5 B+ g6 f- Lo. Describe the tools of fiscal policy, including their advantages and disadvantages
% E, b9 `1 |- A' _p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
: T0 k; w% r; o. l, c) }5 K7 Sq. Explain the implementation of fiscal policy and the difficulties of implementation7 z- |3 q3 u* l! K
r. Determine whether a fiscal policy is expansionary or contractionary H, s& Y% Q9 L
s. Explain the interaction of monetary and fiscal policy
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Exercise Problems：
: a3 s$ u# x: _4 g1 H% @1. The monetary policy tools available to the Federal Reserve are least likely to include：$ a( Y! c$ |8 G" K
A. Open market operations
6 B% S8 y- j& v( ?- H/ t8 Y1 lB. The ability to determine the required reserve ratios of its member banks ; ^/ S% p9 o. L
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes 7 k: x* G1 i& s% r2 C
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答案和详解，登录后回复可见： . X4 O. a- @# {4 \
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' C; [. W4 R% @2. The primary monetary policy goal of most major central banks is best characterized as：
2 S; z# o: N1 i3 F( B4 sA. Containing inflation ( j$ y8 C) f) j9 U
B. Stimulating economic growth " b, m" O7 I) M( f, r+ D! A
C. Maintaining low interest rates # g9 `+ y9 I+ l( m- g6 Y. l
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? $ l0 R& D( h! D3 }! V
A. Increasing reserve requirements
2 F" \" q6 O P1 [: G6 }' AB. Selling securities on the open market
8 w" L, ~* _- f2 S! f: ZC. Purchasing securities on the open market 2 s8 g) H9 K z x6 y5 o5 R
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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：
2 s u ?/ H1 h7 [( S" MA. Contract the economy by reducing bank reserves
" ]5 n9 U) T& A* o) ?B. Expand the economy through a lower policy interest rate 4 p3 `! r2 M5 p
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：
; h0 W, E4 v( {' b" aA. increase
2 J" B+ P S3 }+ G+ c1 _B. decrease ; Q1 y: Y( V( [$ t, _. d" p' H
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