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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 * u( ]+ a+ y* f+ g
: ^, S) Y% C; T1 fCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
. ]! s9 v7 T+ R/ L- {Learning Outcome Statements (LOS)
/ b' v7 Q+ B7 T7 n I. fa. Compare monetary and fiscal policy
+ u+ G0 Y0 x6 y( o7 y* z2 Ub. Describe functions and definitions of money4 X# H: ?6 T& l
c. Explain the money creation process5 r1 d2 z) l% h1 u
d. Describe theories of the demand for and supply of money! H z+ `& f3 L3 {+ R& W% H
e. Describe the Fisher effect
$ Y7 f4 S- l3 Y; R& x5 @f. Describe the roles and objectives of central banks" E6 T; s% {' O* z% i. Y
g. Contrast the costs of expected and unexpected S4 X% c. j' X; U1 V9 l, M
h. Describe the implementation of monetary policy0 D1 F9 j k) ~+ D6 i
i. Describe the qualities of effective central banks, ?1 Q" X4 G9 _0 M8 ~
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates: e( g, v$ e; o C& L; W+ P8 E' t
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks4 C6 U7 K6 j! |9 @0 d# `$ B( O/ m/ \/ {
l. Determine whether a monetary policy is expansionary or contractionary
H% r, p; e. G: ]5 Z; qm. Describe the limitations of monetary policy
+ t: A2 y9 |5 I" }+ q1 P4 @( an. Describe the roles and objectives of fiscal policy9 _$ {$ p' O& q! M+ S) b- x
o. Describe the tools of fiscal policy, including their advantages and disadvantages
5 j' @. X2 \9 l8 z$ _# ?9 o* V; tp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
; K" P3 X+ M/ Tq. Explain the implementation of fiscal policy and the difficulties of implementation
; a8 E" F: K7 o- Ir. Determine whether a fiscal policy is expansionary or contractionary# B; F0 Z. e5 h
s. Explain the interaction of monetary and fiscal policy
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c+ U5 K/ f0 p3 K& N2 {% X7 Z1 `Exercise Problems：
$ E2 R' h7 A! C. m( A1. The monetary policy tools available to the Federal Reserve are least likely to include：7 r! H5 e+ W& z$ v( j1 B
A. Open market operations " f, i0 r& N l3 I
B. The ability to determine the required reserve ratios of its member banks
2 R% \# v' G5 P D" _- X2 ^C. Adjustments to the amount of gold held as reserves against Federal Reserve notes $ {0 x" T7 e$ a% z+ P
0 g, h Z3 k8 W3 V' o# ?答案和详解，登录后回复可见： 0 F3 s* n7 X# d" }$ d1 L( V, L
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2. The primary monetary policy goal of most major central banks is best characterized as：2 z9 V( B' \5 Z
A. Containing inflation
/ I! p; x) @; X% z- H& X; _B. Stimulating economic growth 1 Q1 P5 A0 G( K) z9 U, E, v8 n, h
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?
& X( `8 C5 g5 l% g2 m/ NA. Increasing reserve requirements
4 Y1 i" i6 p$ M3 TB. Selling securities on the open market 2 Z- I4 T6 E8 t; e, R: D
C. Purchasing securities on the open market ( w% F1 ? z. m
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$ z5 t4 a* B% B5 a2 H) p5 i4. 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：
( i. d9 G0 o7 CA. Contract the economy by reducing bank reserves
1 T9 E3 X. f( f3 E$ v/ h# O; tB. Expand the economy through a lower policy interest rate
) U% N) g4 n' W% eC. 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：
& F0 I! W3 p" k* [6 d0 vA. increase 5 W# L! p3 r+ u/ b- `3 G# n1 ^% @
B. decrease
4 ^3 q3 `5 \; ?8 d; I& | CC. 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