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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 % Y0 X E3 K- B" K* [5 L- L1 G
. q! [3 Y; H8 I. b$ e. QCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
2 I$ e" x, \+ S! Y6 ULearning Outcome Statements (LOS) ' `# \3 x F3 q$ h
a. Compare monetary and fiscal policy
# r9 q: o4 O3 q/ l$ s! }6 }& sb. Describe functions and definitions of money- ~; T( v' P% L% U: b: ~- m
c. Explain the money creation process, a# W6 [6 D3 z9 w7 L
d. Describe theories of the demand for and supply of money
- Q q8 E u! \% _5 L' qe. Describe the Fisher effect Z' r7 J) j0 Y0 z" @6 B6 Q
f. Describe the roles and objectives of central banks1 e A X8 ]6 d: H) {5 a
g. Contrast the costs of expected and unexpected9 D- i! o1 [1 O G
h. Describe the implementation of monetary policy
. r* s, K2 I- z1 S1 B4 Ki. Describe the qualities of effective central banks. h5 u5 P% ^( [
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
" J8 u# ?3 D4 e, X, Lk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
- N& R G' p- {" z, N; Tl. Determine whether a monetary policy is expansionary or contractionary
, G9 H" W3 i$ X& y, J1 Zm. Describe the limitations of monetary policy
6 L7 q2 E: A8 N p, J% S! [( c3 Rn. Describe the roles and objectives of fiscal policy, y4 ?5 P9 n* ~9 ^; e
o. Describe the tools of fiscal policy, including their advantages and disadvantages$ z7 T7 U5 X( I
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)' m8 X: V: i" K
q. Explain the implementation of fiscal policy and the difficulties of implementation
1 P# H# ? r) ar. Determine whether a fiscal policy is expansionary or contractionary* g- w7 [4 J' H+ d3 F' T9 L
s. Explain the interaction of monetary and fiscal policy+ h: w# n X: r3 ^
4 i1 j* B8 W6 t$ X4 @) x) C; Q& h$ mExercise Problems：
6 G: X i! u) S. E1. The monetary policy tools available to the Federal Reserve are least likely to include：
% `( _9 j6 T' r. xA. Open market operations
$ f p$ y6 C" R- F; MB. The ability to determine the required reserve ratios of its member banks 2 ]) q5 S) h/ p$ Z1 H, l
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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: ]+ ]# e# F8 P2 ]) B! J4 z答案和详解，登录后回复可见： ' r/ b0 m$ M% ~) f1 j3 {
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b, I4 d# v5 c2. The primary monetary policy goal of most major central banks is best characterized as：$ q+ P0 }' }7 `
A. Containing inflation / W* V2 K7 `! {7 E1 D
B. Stimulating economic growth 5 M# m) Y- H; ~7 q/ }
C. Maintaining low interest rates
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
$ X0 K5 R' t6 lA. Increasing reserve requirements 9 Y0 H2 ^& s# l! r
B. Selling securities on the open market - j; g1 }' g/ g
C. Purchasing securities on the open market
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: n2 u6 E6 b: p3 Y) E" Z _/ K: y4. 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 z! u3 j8 v
A. Contract the economy by reducing bank reserves
8 W: Y# N }) Q$ X' |8 AB. Expand the economy through a lower policy interest rate
* q% S) v8 B/ ^. Q, Y& ^C. Contract the economy through a lower policy interest rate
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8 p; ~* Z' g/ a- U2 t5. 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：
3 i4 R" }4 A& `, s- S) ~& qA. increase
; N1 S+ N) E! l0 [. H! qB. decrease
: v' D$ f1 P: i. vC. remain unchanged : `, A. \8 L% P6 w* m
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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