|
|
本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 6 I+ s8 u5 U7 x Z% F
T) X! c4 j+ |" U0 o) C
CFA Level I:Economics - Monetary and fiscal policy 精选题和学习要点/ @! W4 E, _) I$ L# h3 E& V
Learning Outcome Statements (LOS)
- T( c2 v# a" m* C: Y# da. Compare monetary and fiscal policy
/ i3 d( G' c4 ], S5 U# Z0 [b. Describe functions and definitions of money& s# n: k. P8 i/ q3 A' w& h- e
c. Explain the money creation process" V% Y" H5 `% \
d. Describe theories of the demand for and supply of money+ L7 @. n6 J+ m8 m0 Y4 G
e. Describe the Fisher effect
" A9 } Q, U% l# L$ df. Describe the roles and objectives of central banks
' r" V% X" H4 w/ pg. Contrast the costs of expected and unexpected
! ?- P( {& J, h/ J0 @h. Describe the implementation of monetary policy) _/ o, V, P1 f% p$ F$ _, {
i. Describe the qualities of effective central banks
, J! }& Y5 p# o- u5 F. Gj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
3 Y5 R* J, U4 Z( Nk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
6 @% t) _8 R: e% n3 `! gl. Determine whether a monetary policy is expansionary or contractionary
2 `5 h3 i# H; Jm. Describe the limitations of monetary policy0 U. r: m1 K* s/ p: \# Y& }, A
n. Describe the roles and objectives of fiscal policy C. p- r. Y; L: N
o. Describe the tools of fiscal policy, including their advantages and disadvantages
. J1 M8 u# J5 W: [% _4 qp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)( Q5 Q; W! {9 x# T: s. I" @
q. Explain the implementation of fiscal policy and the difficulties of implementation- N2 M, f# |7 Z3 g1 ?+ v8 d
r. Determine whether a fiscal policy is expansionary or contractionary! G# t& l8 x& m7 K# s8 N
s. Explain the interaction of monetary and fiscal policy z: e" t4 _2 }+ W% ?
) p& }# J D* N) G( j) UExercise Problems:
& _. [) g! ?0 m* y, J- V1. The monetary policy tools available to the Federal Reserve are least likely to include:: i* N h1 @- f) t- S3 U$ Q
A. Open market operations - X$ D! u# j/ f1 q1 [ n- I- \5 u; G
B. The ability to determine the required reserve ratios of its member banks / t: [8 d# n9 k, s* u
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes ! h2 c9 U4 @# Z8 X) f
]1 ~' P. | _8 E, E7 E% J答案和详解,登录后回复可见: & E, b _7 d5 M7 C$ ^
F( y1 W* i. U8 r3 [& o( q+ m( o* O+ T# ^+ u2 V
2. The primary monetary policy goal of most major central banks is best characterized as:
6 | g% B8 W! \$ @9 [5 c3 c! {A. Containing inflation
, F; R" ?9 c# L# j' U4 f( _$ ~B. Stimulating economic growth
5 B/ ~4 I- ?/ tC. Maintaining low interest rates
- {# ]4 s* N4 t2 F
8 ^4 ~; v9 N i j( r" ]# l2 L6 N( F/ D" I
; Q/ Z( y9 ~9 j! r, j/ v
3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? S8 I/ Y+ @- C
A. Increasing reserve requirements
% v! d4 s/ v$ k9 c, {! {0 BB. Selling securities on the open market & g# m0 E0 _9 ^4 g. J
C. Purchasing securities on the open market
g; ^1 `9 r, Q. J9 H9 m3 n; _8 _( q* |1 b/ @% V2 l/ W0 M
' @7 l* ^, L2 v' _3 k3 t# J
3 [# w; E, e* `" [/ F0 z4. 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:) E: a* H9 A/ Z" e0 b) ^) c
A. Contract the economy by reducing bank reserves
+ ^6 d6 U- ~3 y! H' W9 H: a& W/ i, qB. Expand the economy through a lower policy interest rate ' D" ~" D- T v3 T( V, ]# z
C. Contract the economy through a lower policy interest rate ) v0 q8 H5 t. j: M/ M2 \
/ E: b8 W) e' ~( X k* O y! N8 F
( J$ J, x9 L8 ]4 T; O' h( Q% v2 O4 u8 P; `) Z# k9 A
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:0 Y$ d/ i8 o* s; K5 e
A. increase W b j( \8 `6 ?" Q4 B' P
B. decrease
6 r% D5 g* V* n& h8 o+ jC. remain unchanged
; b* a' c' H) X/ D1 T9 ~- G: @, r7 p
: \! E2 T, Y9 D9 S2 |# Z9 d# g; }5 ]% X
更多CFA习题可关注:高顿CFA题库.: Z+ y9 t2 m4 J
关注微信 CFAFighting (ID:cfa-frm)CFA考试资讯抢先得
; G$ S' f) t; ?: ]" L; O2 U8 g9 n. A" c" d
% h5 y# t! F N9 S |
|