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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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0 ^8 q: I( M9 a" w9 VCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点- F2 t+ H; X; N
Learning Outcome Statements (LOS)
' o2 R4 J8 H& @3 _# V _: R1 u* |a. Compare monetary and fiscal policy# D% A$ w% {, W' \) ]# \
b. Describe functions and definitions of money
. Q; i. z# L! f8 Bc. Explain the money creation process" Q# Z- @0 t1 ~2 X1 X$ f$ W
d. Describe theories of the demand for and supply of money
& s( Q S3 [3 je. Describe the Fisher effect
- Z/ Y- U+ D4 [$ H! t2 R7 Q; cf. Describe the roles and objectives of central banks
! w6 } S! M/ dg. Contrast the costs of expected and unexpected- K% U6 u$ U; g# R
h. Describe the implementation of monetary policy
6 m9 S5 M- N( C. y, p- u9 qi. Describe the qualities of effective central banks9 n# E5 J6 q! N
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
+ u+ r4 f( s/ _. U0 [3 q: bk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks+ C5 d, X) M6 O5 Q3 u# H! J
l. Determine whether a monetary policy is expansionary or contractionary
_" D. o3 q) ]7 _7 am. Describe the limitations of monetary policy
6 h4 Q2 T; `3 j# A% u1 d9 J# R5 mn. Describe the roles and objectives of fiscal policy2 R* p9 N0 |& A* b% F8 R# v
o. Describe the tools of fiscal policy, including their advantages and disadvantages
. ^1 o/ E) K% \+ {, ~* ^p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
; p1 Y' w: f& u+ Kq. Explain the implementation of fiscal policy and the difficulties of implementation- I6 m+ J7 o8 U' u8 I) E
r. Determine whether a fiscal policy is expansionary or contractionary/ p2 S) \9 `6 z% ]9 f; X0 r
s. Explain the interaction of monetary and fiscal policy) E8 P p# R' j7 G; _1 E
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Exercise Problems：
e* ]' I; d- a- `; d2 I$ c1. The monetary policy tools available to the Federal Reserve are least likely to include：% c3 }2 M3 r. w* V, x/ G1 ^6 D
A. Open market operations
9 y t8 h- H( j5 Y9 fB. The ability to determine the required reserve ratios of its member banks & y( H4 R1 I0 F
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes . A& z. ~3 f" y, x( y7 L: \: G- u
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答案和详解，登录后回复可见： 7 G/ \" @9 o' l3 I3 Q
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2. The primary monetary policy goal of most major central banks is best characterized as：4 u; |3 e5 I- L- {/ A* r( O
A. Containing inflation
! { Y+ t! L5 {) H1 e8 wB. Stimulating economic growth
" Y) \! @4 `7 W! ]C. Maintaining low interest rates * U2 V- u/ A7 e3 i* Q& I$ C% a
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? / a+ |" h+ J+ Y+ V, \; n; N/ E
A. Increasing reserve requirements
. J6 {: |+ r; a; ]B. Selling securities on the open market 2 [6 [& y' J9 _0 K. }7 z
C. Purchasing securities on the open market
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3 d8 \& o* z0 f! V4. 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：
0 c% X* [' i4 S+ ^8 o* u" |$ g7 SA. Contract the economy by reducing bank reserves
, s: X0 Q% V' q& l U/ ~4 zB. Expand the economy through a lower policy interest rate
3 q& n; a X9 N3 \; p+ j. JC. 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：
s3 h+ q6 _* }& g3 ?$ X8 [A. increase
) a9 M3 {" S$ @3 KB. decrease " l9 o$ d1 N# U
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