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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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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
/ E O4 R- I0 h Y2 F( |) f9 T* l' WLearning Outcome Statements (LOS) + O$ W: v$ X2 K7 e& Z$ d/ A9 ^- V4 q
a. Compare monetary and fiscal policy( @* u% N* x+ K+ `" C
b. Describe functions and definitions of money- c8 V2 E2 b* w9 }* ^( M2 W
c. Explain the money creation process5 e; ? h6 u' _5 a
d. Describe theories of the demand for and supply of money
7 n. Q) M2 Z8 k9 ze. Describe the Fisher effect
. c8 N9 c! p o' i' {. B% Yf. Describe the roles and objectives of central banks; f. [( y# w6 B/ ^
g. Contrast the costs of expected and unexpected
, ], b @2 O* A% I, v- h0 Wh. Describe the implementation of monetary policy7 i2 V0 C9 `) c' T8 N) h
i. Describe the qualities of effective central banks
$ U3 s" s Z; U4 B; t! u! Aj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
5 T' y8 Y; e( I* fk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
4 F- O5 {0 V; j) C" El. Determine whether a monetary policy is expansionary or contractionary
( q3 P; {& h$ p0 x# O! h: q: cm. Describe the limitations of monetary policy2 s) R0 a& j |' H
n. Describe the roles and objectives of fiscal policy
$ p, E5 k! a, X. g. i3 Io. Describe the tools of fiscal policy, including their advantages and disadvantages$ ~+ e/ K' {3 |6 O8 m4 O; J
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP); g9 M0 |) V6 i9 e9 z- ^) ?
q. Explain the implementation of fiscal policy and the difficulties of implementation
+ |. H' j/ i2 S" fr. Determine whether a fiscal policy is expansionary or contractionary' l) r& A7 c2 P
s. Explain the interaction of monetary and fiscal policy
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Exercise Problems：/ r. J# M% O% n- q/ b6 j( B
1. The monetary policy tools available to the Federal Reserve are least likely to include：
: r! |& C& R; m' [: T$ eA. Open market operations
1 h' [+ u8 n- M' jB. The ability to determine the required reserve ratios of its member banks & m$ X* \1 I9 |0 c( R' w& ]( ^
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes + [* h a+ ?: m' G
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答案和详解，登录后回复可见： 3 ~& _( K _1 `
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+ E; V9 a; B/ w9 b2 V6 \) F# `2. The primary monetary policy goal of most major central banks is best characterized as：0 f* w1 r0 ?- W4 ~: O# ]% }& p
A. Containing inflation % O A" p0 g' n7 F( [/ I
B. Stimulating economic growth
! L6 o8 J* t, uC. Maintaining low interest rates * v2 `" u: l) C& P7 o
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8 T5 Q' m! ~6 q/ r W8 X3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
, p0 ^; o8 z& _8 E+ PA. Increasing reserve requirements
) ^$ }; P) o7 a% [B. Selling securities on the open market
" b# p2 \, Q' w: m5 d& qC. Purchasing securities on the open market
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" I# B5 C' ]5 n. s8 t4. 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：
) ^' G" a+ U) h0 S# }* ?* P9 HA. Contract the economy by reducing bank reserves & U }3 c+ f1 x
B. Expand the economy through a lower policy interest rate 1 k- H; O" }# x3 j; S" U
C. Contract the economy through a lower policy interest rate % v& @' P L L. {( z9 {% J( Y
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5 D& d- s; H! x5 f0 b7 L5. 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 H5 c- N* Y; D; BA. increase
1 U" u5 i1 u4 V4 G9 `6 uB. decrease 7 i( t0 W8 S [; ~4 c8 l
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