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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 ( f6 S! I3 V v6 g8 o: d q2 Q
( p1 Z( ^7 I3 l- BCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点( w0 H# h- D+ F
Learning Outcome Statements (LOS)
% P, i( @ v. ha. Compare monetary and fiscal policy- y" F" H# u# p. K% ^8 |- H
b. Describe functions and definitions of money" K1 R) w+ m) N- A- k
c. Explain the money creation process
. q7 Y( I& N2 yd. Describe theories of the demand for and supply of money
! e1 l6 e" _- ?& X% M" ^e. Describe the Fisher effect; P- n. {. U5 D$ R: j! B6 ]8 c
f. Describe the roles and objectives of central banks
C3 B. f, {+ Z mg. Contrast the costs of expected and unexpected+ B5 x9 _& d, I8 W$ |( z2 x
h. Describe the implementation of monetary policy
8 _& n3 Y# P [ \+ }2 F) xi. Describe the qualities of effective central banks0 P& S/ c) j& L4 j
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
- j7 j0 r3 t, H0 ^( a2 s- |0 nk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
7 m3 r$ V. y) B5 d! Pl. Determine whether a monetary policy is expansionary or contractionary* q' k; v9 d* J* I. N
m. Describe the limitations of monetary policy8 V: `/ _, e6 r& m; F) R
n. Describe the roles and objectives of fiscal policy/ p+ a* t, |% R$ e
o. Describe the tools of fiscal policy, including their advantages and disadvantages
( |- k6 k2 ~" s+ f. l; g2 k/ bp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
- z. F! V# f& s) d! O$ r1 V: Y1 Nq. Explain the implementation of fiscal policy and the difficulties of implementation& h# m* `' Z4 q$ j1 h* F4 w
r. Determine whether a fiscal policy is expansionary or contractionary
) ~9 S7 V( E$ G W4 Bs. Explain the interaction of monetary and fiscal policy
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Exercise Problems：
! L+ H: ?# V$ T1. The monetary policy tools available to the Federal Reserve are least likely to include：; t* G$ R7 V7 T9 p: ]. }
A. Open market operations ' A! h# `5 Y0 a! I% p; B
B. The ability to determine the required reserve ratios of its member banks # y4 L5 P' _3 n& r% H* F
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes & y7 A9 j5 J% Z1 ]. O: E; i
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答案和详解，登录后回复可见：
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2. The primary monetary policy goal of most major central banks is best characterized as：+ t8 @! f+ H4 g ~
A. Containing inflation
" E1 {: C. f- X8 J9 m$ pB. Stimulating economic growth
6 A( l I. i' [6 W, i+ gC. Maintaining low interest rates
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9 z- Y& O6 b. M/ O# h# p3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? : h0 u( `- i7 Y# f) N* P
A. Increasing reserve requirements
H4 o) Q1 V5 K& V% L5 VB. Selling securities on the open market
' N4 m5 m, Z @8 T: C7 n# L7 vC. Purchasing securities on the open market
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4. 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：
, s! g9 b1 }+ S6 y/ v% xA. Contract the economy by reducing bank reserves
: u. I3 j5 K& O9 | IB. Expand the economy through a lower policy interest rate
; t6 @- u$ S. }6 FC. Contract the economy through a lower policy interest rate
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& Z! x) r/ [- s5. 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：
( I. [0 p( Z* Z( v$ X; BA. increase 0 E a: ^" S. T& m" d6 }
B. decrease + m; w6 c. M# k: N- L1 f
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