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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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' o; L/ ~5 y) {5 c7 p! n' m; ?CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
4 o, n0 c: _; \- eLearning Outcome Statements (LOS)
7 z& o5 z* I6 Q2 Q+ Q) {2 j3 Ya. Compare monetary and fiscal policy
4 F, ]6 ]% F7 y8 Q1 Rb. Describe functions and definitions of money
0 o: J U5 E; {) s9 s5 R- [, @c. Explain the money creation process+ `7 K8 C: z5 c$ d% s
d. Describe theories of the demand for and supply of money2 E* R3 f3 f! Q4 K7 [
e. Describe the Fisher effect
% x2 |7 O0 W$ Cf. Describe the roles and objectives of central banks, U) \0 G( y" W
g. Contrast the costs of expected and unexpected+ [( Z% P: q' }. W% \9 n
h. Describe the implementation of monetary policy
6 L8 l2 F! a' C+ K3 F) B0 L1 ti. Describe the qualities of effective central banks/ G" \5 m1 ^6 R8 l
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
% y6 `4 X+ p; \4 F& \' T5 O8 rk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks; G8 T9 o' S1 q% p
l. Determine whether a monetary policy is expansionary or contractionary
: I- y' `8 K, {+ h% ]! cm. Describe the limitations of monetary policy4 l: [! m n$ L. D7 ]
n. Describe the roles and objectives of fiscal policy- S. f k4 F% o
o. Describe the tools of fiscal policy, including their advantages and disadvantages
8 k' Y) j3 d* c! o3 h: J; wp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)$ U7 w8 X+ q6 Q4 q5 L9 D, x
q. Explain the implementation of fiscal policy and the difficulties of implementation# I O9 d" q; D& h5 Z+ p* b
r. Determine whether a fiscal policy is expansionary or contractionary
* ?& f o0 _9 p8 d( Y3 b4 Ls. Explain the interaction of monetary and fiscal policy
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Exercise Problems：1 d q# a5 z/ d+ W
1. The monetary policy tools available to the Federal Reserve are least likely to include：" t9 x+ w! N8 F' h& S2 e
A. Open market operations
T' D( Z2 _# H5 `* K Y8 mB. The ability to determine the required reserve ratios of its member banks - [ r9 W0 d) F; C
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes % L4 M8 ^$ ?* x' U; }( l; q1 g
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答案和详解，登录后回复可见：
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2 W( X/ b N# d' b0 V' V+ G6 w. N2. The primary monetary policy goal of most major central banks is best characterized as：2 l% f+ R: P# q# q0 t: U6 A
A. Containing inflation
" k6 x6 z u7 O3 OB. Stimulating economic growth
4 |* B s% Y# L8 s8 S$ }) aC. Maintaining low interest rates - M8 B* Q5 j0 G
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
) m* d y% h2 U' K3 SA. Increasing reserve requirements
. d# e+ |0 h% H/ F4 c; g5 a% K( X7 FB. Selling securities on the open market
. W4 F& X6 i: QC. Purchasing securities on the open market " k5 P& {' I5 e1 U* b
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4 _& Q" R9 N9 x4 E7 X4. 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：& M9 t2 D2 U' f% u/ ^% s& h
A. Contract the economy by reducing bank reserves 8 @$ k+ y9 b% `0 U
B. Expand the economy through a lower policy interest rate 4 p* b$ \4 U7 J
C. Contract the economy through a lower policy interest rate : d5 ^8 n& H. T% V
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7 v( E2 n0 H2 t$ 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：* v \+ b, R0 C% |0 L5 ?) j: g
A. increase 3 O) l+ Y. `" F
B. decrease
3 W% p6 ]6 p, oC. remain unchanged ; }- Z8 J: z1 R b& \0 f* a
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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