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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 " g' t; k# |, {8 l
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
, V* \ w( y+ t: k4 J3 l. gLearning Outcome Statements (LOS)
d$ X9 }; [! z+ r* f" r$ F; wa. Compare monetary and fiscal policy; C5 \# }( K8 k2 Z7 F- _6 G0 O
b. Describe functions and definitions of money; [ e: r$ ?' _9 _& ?6 Q* ?
c. Explain the money creation process( o; |+ U& @. f3 r0 D
d. Describe theories of the demand for and supply of money, P" ~ I' u, ?1 x
e. Describe the Fisher effect
/ j$ ~8 E' V" R4 N; nf. Describe the roles and objectives of central banks( W9 y3 \# A: ]/ h1 B! H1 y: A& F7 u
g. Contrast the costs of expected and unexpected
- N+ v$ d# |6 J# d2 i# @7 Ih. Describe the implementation of monetary policy
. G m0 m. h1 x7 B A ai. Describe the qualities of effective central banks* J) S' d% P4 `2 m% o; e; z
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates8 V6 x6 Q, Y' J8 c
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks" r& |+ S3 R' J7 ?2 l, z
l. Determine whether a monetary policy is expansionary or contractionary
1 |2 c: a5 z! C+ S$ ~m. Describe the limitations of monetary policy
- A9 H% e, G3 R6 f0 L+ S/ ?n. Describe the roles and objectives of fiscal policy" Z5 H' d! n: H4 v( R) U
o. Describe the tools of fiscal policy, including their advantages and disadvantages
6 [) w3 \ J) O |$ E- v4 op. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)! e: J1 ?3 C5 m! s3 {) x: z
q. Explain the implementation of fiscal policy and the difficulties of implementation
9 i) s! k, P. w% D8 C0 ~r. Determine whether a fiscal policy is expansionary or contractionary
x4 |) k" Q$ ^- O8 `0 ~! ^s. Explain the interaction of monetary and fiscal policy: r+ Z' p( Z# S6 K, F$ v3 ^
) f$ c* Y3 T, D( U& `& H3 @Exercise Problems：/ Y P5 ]5 j V" M! U
1. The monetary policy tools available to the Federal Reserve are least likely to include：
( H7 U4 ^, x6 b9 ]A. Open market operations / V% k3 J g! |% F
B. The ability to determine the required reserve ratios of its member banks
# w- W+ b; [7 ~6 o+ u1 lC. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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答案和详解，登录后回复可见：
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0 e9 w3 ]1 b q2. The primary monetary policy goal of most major central banks is best characterized as：
3 g' L5 b# f/ G' }! A7 VA. Containing inflation
& Y8 {+ @6 M+ y; LB. Stimulating economic growth ! v- u) G5 z" [) R& m8 T! W
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?
) {/ l7 I7 v8 i @A. Increasing reserve requirements
# `! S" l4 \9 K: h) E- MB. Selling securities on the open market 8 h* N5 w, [1 H6 u; C" T! D5 r
C. Purchasing securities on the open market 9 A' a9 u7 u/ f! b; h. i
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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：
: Z" C) L7 ]: TA. Contract the economy by reducing bank reserves
8 T! X% n2 a* X4 R3 }B. Expand the economy through a lower policy interest rate 1 |0 Z9 Y+ V* e- R
C. Contract the economy through a lower policy interest rate
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* p% V9 n3 C) x% H1 ^2 |5 V8 e6 ?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：
7 Y6 a( i& d- D8 S* n, QA. increase
- X% v" j7 h* fB. decrease
6 x( Y1 u) X! a3 D, r7 ZC. remain unchanged h) u/ l9 y* Q- \8 I
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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