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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
- f) b) w: Y4 mLearning Outcome Statements (LOS)
2 e3 X" W( k$ \; i N, _a. Compare monetary and fiscal policy
8 t( a! H$ g2 N# y3 a. Z4 mb. Describe functions and definitions of money1 D1 O" X: L4 `
c. Explain the money creation process
7 }% P' x+ U& q# V3 k. D# hd. Describe theories of the demand for and supply of money: R% I% V( z7 G4 \0 I
e. Describe the Fisher effect
6 G8 U: Y9 U- o4 V8 ?8 Af. Describe the roles and objectives of central banks
9 b1 h7 {3 ~7 ?6 Cg. Contrast the costs of expected and unexpected# r2 {6 p! l8 k
h. Describe the implementation of monetary policy C# |+ H' @5 l! V
i. Describe the qualities of effective central banks+ Y5 g, n/ }2 u$ ?* `: L8 @& h
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
& w- T9 t( w, \# hk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
7 ~) X; a5 ^ W! A5 F: l1 y9 ul. Determine whether a monetary policy is expansionary or contractionary1 a7 `# d7 U. D q% p) h) J
m. Describe the limitations of monetary policy
" a7 i F2 X S. p) G! B/ v( mn. Describe the roles and objectives of fiscal policy
: u+ h+ X- w2 Z9 `" z$ Io. Describe the tools of fiscal policy, including their advantages and disadvantages
; W1 A |% { a) t0 y, n9 Mp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)2 ]" ]; W" z; @6 ] }
q. Explain the implementation of fiscal policy and the difficulties of implementation) d9 l8 ]. Z" _. k% e. f
r. Determine whether a fiscal policy is expansionary or contractionary; U/ v# C0 I# v" T8 p
s. Explain the interaction of monetary and fiscal policy6 A- `9 v$ r8 K) ]
& I. u! o6 j1 UExercise Problems：
* E1 V j2 N+ [0 c1 T. ]$ i5 z8 w1. The monetary policy tools available to the Federal Reserve are least likely to include：6 w' k/ ~2 E' s: t; F K- x
A. Open market operations 5 ]7 \% k4 H! y7 |8 u
B. The ability to determine the required reserve ratios of its member banks . C" N; W( D, K! V' T
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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` ?. }2 C2 O答案和详解，登录后回复可见：
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7 w; H$ [1 z, O, |8 |: P' P2. The primary monetary policy goal of most major central banks is best characterized as：
+ L" u; M2 Q0 C; m w( Y8 [$ S YA. Containing inflation + q- q9 {' F3 \$ i
B. Stimulating economic growth
2 p1 u: ~* ^ E1 r! d3 h' AC. Maintaining low interest rates ( \. l$ G( R8 N) t/ X( `
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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 ]/ q- ]0 p" z( L
A. Increasing reserve requirements
4 g7 ?; x! Z% o/ d5 P9 @B. Selling securities on the open market 7 i1 g8 a' [7 V1 y/ e+ P
C. Purchasing securities on the open market ' N4 `; a( i! O( k! `9 E# f/ u3 k, a
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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：( C$ W" n1 T% D* ?3 y* O* y
A. Contract the economy by reducing bank reserves
" v1 U* l3 E6 U- a% i; J# U7 QB. Expand the economy through a lower policy interest rate 1 [" E/ D# v F/ J( p
C. Contract the economy through a lower policy interest rate
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+ h4 n6 B! V7 {/ |, \5 r5. 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：
/ \4 ^" F1 E; f2 I$ n# ^- EA. increase * U4 V5 A0 d) K, A1 n
B. decrease 3 T5 G; y) |! ^. y+ o, k
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