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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 ! H* K! f9 |, b% n; d
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
! P: m4 p' n3 y' V6 S* ALearning Outcome Statements (LOS)
8 @+ I# f, S) n+ R c# pa. Compare monetary and fiscal policy7 r9 b, F3 z4 }% g0 m
b. Describe functions and definitions of money
6 o7 h+ e, d2 w0 `+ M7 p. a+ c- kc. Explain the money creation process
3 \: |: a; h o' `2 b. e* cd. Describe theories of the demand for and supply of money3 K; P( K4 Y8 D X1 n# _7 B/ Y
e. Describe the Fisher effect
# l4 w( J4 L5 Q. `9 C3 L& lf. Describe the roles and objectives of central banks% F/ P! F2 V7 T# e* T- ~
g. Contrast the costs of expected and unexpected
% a0 O/ J. h$ [ q1 w6 n" L5 ]% ]h. Describe the implementation of monetary policy
/ Q3 ]( K0 L6 k1 ~/ \i. Describe the qualities of effective central banks
/ r) ^0 h0 ~: m0 s }0 sj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates# l5 s- u3 `# g& }' j9 g
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks8 m$ J, K2 j* A# J+ b
l. Determine whether a monetary policy is expansionary or contractionary
9 N' Z; Z% r" c9 X7 k$ D* Tm. Describe the limitations of monetary policy/ H% b& G, w! Z* H6 g
n. Describe the roles and objectives of fiscal policy; a' S% f/ \/ V* \- d. R- z9 J
o. Describe the tools of fiscal policy, including their advantages and disadvantages
2 n% T9 \. m8 b6 w" M' Q1 sp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)/ y: E# \& O3 T
q. Explain the implementation of fiscal policy and the difficulties of implementation2 A. F7 E) S( F, `0 ]2 M
r. Determine whether a fiscal policy is expansionary or contractionary
9 W6 |: N! y4 c% P' }s. Explain the interaction of monetary and fiscal policy
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Exercise Problems：
" Z% J+ K! c% z) A( H, G L1. The monetary policy tools available to the Federal Reserve are least likely to include：
/ S; W/ C/ f( \6 d0 hA. Open market operations
/ p' O+ P+ H( x9 S. yB. The ability to determine the required reserve ratios of its member banks . m& d( N# f# q6 q
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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" u& a$ j4 E9 W/ r9 ]: }) o答案和详解，登录后回复可见：
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7 q0 v2 l) g% b" `" q2. The primary monetary policy goal of most major central banks is best characterized as：
* o- D8 E7 T$ q( yA. Containing inflation
' n; H( L. ~2 v4 }+ nB. Stimulating economic growth $ L m+ j7 v5 U8 a- D3 ?; D2 b
C. Maintaining low interest rates
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' Q' M! Z) I0 K2 [. h5 c: A) o3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
% _- W' r {, |/ K5 ^, uA. Increasing reserve requirements 7 T+ G. M; C) z' @8 N$ g' T
B. Selling securities on the open market ( B. X/ c0 ?# j
C. Purchasing securities on the open market . [" T7 E3 x7 d
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+ R) f: ~* ` k4 e) R* U" e. L! c4. 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：
) V9 `, _9 ~6 @* lA. Contract the economy by reducing bank reserves
1 B! ]4 q% I E0 b$ }6 Y$ w: @B. Expand the economy through a lower policy interest rate
( w( N( v6 W3 `4 Q# I& G/ ]C. Contract the economy through a lower policy interest rate 7 C6 q( S9 D6 E- O& q
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|! k: ^0 V; J9 f: W, D3 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：% A( I4 N1 W9 e( x: Y
A. increase ! G2 D; |, M4 Y4 a4 `% M
B. decrease
" R8 H& ~3 i& S7 X1 {& l5 IC. 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