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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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+ D1 `0 E1 N, ~& ^$ ]( ~2 a* ~CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
3 G; b& q5 T, v$ P( BLearning Outcome Statements (LOS) " g7 E: k- L1 ]1 K0 O
a. Compare monetary and fiscal policy P2 F$ A- Q+ j f2 `: h
b. Describe functions and definitions of money- M' q; ]- ?" R! c
c. Explain the money creation process4 ~7 |! \( ]* j- O
d. Describe theories of the demand for and supply of money/ o' ?! @% K# v, R$ Y5 a
e. Describe the Fisher effect2 M: d) B5 `6 A T3 P$ j$ A$ {: P
f. Describe the roles and objectives of central banks
# H3 o; R1 \( e1 m4 U& N5 T$ @g. Contrast the costs of expected and unexpected8 ?! g# I; j2 a4 @% ?5 [
h. Describe the implementation of monetary policy5 \) z6 ?: M9 w9 w! k7 P
i. Describe the qualities of effective central banks8 |& [' [" X. k; g) T. k! ^
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
) a1 ?3 F. U: @5 l0 Sk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
8 ?0 j8 a5 w$ G0 M) F7 yl. Determine whether a monetary policy is expansionary or contractionary
3 g7 t4 l1 T$ v9 nm. Describe the limitations of monetary policy$ k4 K1 H" K& h) @# d
n. Describe the roles and objectives of fiscal policy
y$ u r6 }4 e6 F. R5 Z, Fo. Describe the tools of fiscal policy, including their advantages and disadvantages' X1 [& U! Z, r& _" r
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
& x- J) h3 q) F: B5 j4 n" F1 H8 ^9 iq. Explain the implementation of fiscal policy and the difficulties of implementation: G" ^+ o- j+ K; Q
r. Determine whether a fiscal policy is expansionary or contractionary& u4 N" A( [0 u! c/ T0 V; \
s. Explain the interaction of monetary and fiscal policy$ C1 ^1 A# g0 Z* \8 W) G0 ~* J5 n
7 x2 L+ j& g! N0 y! OExercise Problems：
, h/ U& } X4 V7 M/ f/ Q1. The monetary policy tools available to the Federal Reserve are least likely to include：- A+ {) U! V$ ]* Z$ p1 `$ u
A. Open market operations
1 f5 `8 c+ t4 L2 j) b7 M+ aB. The ability to determine the required reserve ratios of its member banks $ I l8 O7 P( G2 q/ U
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes ) A. k2 h/ y6 ^% `
( V) a) R9 {3 _. F% q答案和详解，登录后回复可见： ( E# A) x8 W. e7 @; ^) S
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2. The primary monetary policy goal of most major central banks is best characterized as：9 w' h$ A5 U( w: I" x
A. Containing inflation
* x5 b B3 k! E" S4 eB. Stimulating economic growth % _, r7 b. g. e. D
C. Maintaining low interest rates
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5 R5 V1 y/ q+ q3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? . S/ c1 Y I% J3 A
A. Increasing reserve requirements 6 |& J$ M% f" z2 d: w' M
B. Selling securities on the open market O* Y# X. j) O, G; l
C. Purchasing securities on the open market 7 r8 W+ ]; S0 h& s
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8 W! v6 \" r, F4 V: C/ ~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：
" E3 k4 _# L5 Y. wA. Contract the economy by reducing bank reserves
7 x: X+ Z( e* b) |6 N: U7 ^$ uB. Expand the economy through a lower policy interest rate
8 \- f8 k3 M3 v4 Z$ T# O7 g% mC. Contract the economy through a lower policy interest rate 9 D& ~( b5 m# w' H# |' }
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% ~5 z3 d: f' A8 C9 Z V6 p6 P. [0 i5. 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：6 _7 {+ U4 R5 Y4 `/ K0 g9 y C+ ?4 T) [
A. increase
( j6 f/ O/ a- M8 M# ZB. decrease : q; Q# ?$ Q5 ^$ X0 X8 x
C. remain unchanged o! o* N! K/ m! f
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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