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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 # g/ ^3 i; I# I( L, ]1 f3 ?# @
7 V1 p! A i4 b1 RCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点3 e {& a m! t- D6 J
Learning Outcome Statements (LOS)
+ j3 D' ^8 D* Ua. Compare monetary and fiscal policy) k! y/ ?% ?- \9 W' N0 J
b. Describe functions and definitions of money2 Y' M) M0 h/ G+ R* g& o7 K
c. Explain the money creation process+ Q2 b6 x; u: t
d. Describe theories of the demand for and supply of money4 g' y3 k6 ~- ^ | C$ t
e. Describe the Fisher effect
' g. |1 Y2 U# {& V3 A+ Vf. Describe the roles and objectives of central banks9 Y9 ^/ v6 b. T. A. [, k
g. Contrast the costs of expected and unexpected- j/ g1 b8 s6 X( t
h. Describe the implementation of monetary policy6 A7 l6 z6 O. `
i. Describe the qualities of effective central banks* z/ r p& ]# T _: ]+ d
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
+ O( e6 ?& H8 U/ J0 ~) Z3 x$ tk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
8 l/ K3 d( U& Kl. Determine whether a monetary policy is expansionary or contractionary& H+ F. V* ~+ O
m. Describe the limitations of monetary policy- R& t" Z% {8 R% I
n. Describe the roles and objectives of fiscal policy1 s& ~+ @& T" a% H0 n7 H. N8 `* R4 Z
o. Describe the tools of fiscal policy, including their advantages and disadvantages% N, l7 c d# Q& \ n4 N
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
0 e( s5 X) e8 [1 B9 qq. Explain the implementation of fiscal policy and the difficulties of implementation0 `" K5 w" B' J: R
r. Determine whether a fiscal policy is expansionary or contractionary
, @8 @9 Y: o, P. b% Y. N( @s. Explain the interaction of monetary and fiscal policy6 k' E! k( W$ F# Q
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Exercise Problems：
/ T5 w+ h0 c& c1. The monetary policy tools available to the Federal Reserve are least likely to include：
, a% M' t4 a) p! [) {7 TA. Open market operations 6 c7 d5 W7 H! V# P% L% |
B. The ability to determine the required reserve ratios of its member banks
1 D7 q$ r/ R! MC. Adjustments to the amount of gold held as reserves against Federal Reserve notes $ {6 M# ]* Z0 `' Y T
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答案和详解，登录后回复可见： 3 I$ A3 C7 B, h% G
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) S6 o! ~9 U a* u- S1 h4 Y2. The primary monetary policy goal of most major central banks is best characterized as：3 E+ d n2 m& V; z& p. ]8 k! [/ z
A. Containing inflation
% B$ ]& a+ a! Y' h* fB. Stimulating economic growth
' u& \! i2 h. q7 _C. Maintaining low interest rates # d7 Q- \# Y) p
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6 W2 e6 a% D2 Z% p1 K3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
7 E# i; U$ e- f! Z( K( H5 f/ z6 jA. Increasing reserve requirements . c7 q# T2 U) }2 K; E6 S
B. Selling securities on the open market 8 X9 v" v4 @8 g C6 g- W6 f
C. Purchasing securities on the open market
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' w6 l( X0 x$ I, C; C# N4 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：
& t0 m" H# c# ^* U/ |A. Contract the economy by reducing bank reserves
% ]7 \+ B7 q5 ~, ^0 FB. Expand the economy through a lower policy interest rate
/ h4 J V# |. I! R* Y* \9 IC. 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：6 E6 \/ p6 ~. [% R; O
A. increase
+ f: i/ T9 A9 M, `6 BB. decrease
/ k8 b& m \7 @; u( DC. 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