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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 # r( B, f* O( g( x
) O2 s1 t* z+ t& H- o3 gCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点# U2 H r2 O) B2 Z0 P ]
Learning Outcome Statements (LOS) / \; p& \6 c" @2 M4 a- A
a. Compare monetary and fiscal policy5 R% Z- g3 Q+ k* v# ?
b. Describe functions and definitions of money
) B! |! o* k% L% F) e% x( mc. Explain the money creation process# T8 W$ [) X) W$ I/ c8 O; j$ e
d. Describe theories of the demand for and supply of money
( I! Z. y2 [3 R3 z9 O E" H) Le. Describe the Fisher effect
0 t* G- [' ~5 X& k6 Jf. Describe the roles and objectives of central banks% p2 [# W2 I+ {- E
g. Contrast the costs of expected and unexpected( d8 c& i4 v+ k S/ T- s: G; o1 E
h. Describe the implementation of monetary policy4 U/ ?! i% P" a# u) b {
i. Describe the qualities of effective central banks
. g8 X, j2 @2 Vj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
9 K. b( o2 {' _& L& A, Jk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
4 V0 v/ T4 P; ll. Determine whether a monetary policy is expansionary or contractionary' L2 G# ?$ u1 a
m. Describe the limitations of monetary policy: W* k& z" ]/ ? Z$ R9 ?
n. Describe the roles and objectives of fiscal policy
2 D: o n4 Z6 y9 C* }o. Describe the tools of fiscal policy, including their advantages and disadvantages
3 c6 U {+ c- h- Lp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
# S7 |2 N$ q2 S( I+ Mq. Explain the implementation of fiscal policy and the difficulties of implementation
6 {6 {4 K9 D) D3 l7 P/ K6 Q3 {r. Determine whether a fiscal policy is expansionary or contractionary. |; A5 P4 a1 u2 J2 O8 F0 r8 _5 p
s. Explain the interaction of monetary and fiscal policy0 |0 z. {; i1 c: l; l. i# |
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Exercise Problems：
9 u* \5 Y7 k2 w- y* N/ g' ^1. The monetary policy tools available to the Federal Reserve are least likely to include：6 p* L4 p9 q% O
A. Open market operations ! @" ]3 N7 k( D! O: ]2 n: E
B. The ability to determine the required reserve ratios of its member banks 6 ]) w u: M8 P) I2 j3 F- |9 A
C. 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： & v# q' u" @& y; S* k
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2. The primary monetary policy goal of most major central banks is best characterized as：" Q2 v* W$ h$ D! n
A. Containing inflation - e2 [7 M' U$ S5 }
B. Stimulating economic growth
0 V7 `# z! v* d ~# G$ m6 K1 lC. Maintaining low interest rates . W* {. k: r$ g7 W: G. l2 `9 ?& K2 {
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
2 a2 [- u, D1 a/ n4 x$ ^A. Increasing reserve requirements
5 q/ w$ X. A$ Z' tB. Selling securities on the open market
, M; J8 S/ }5 }& y; D- RC. 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：
: m# P: ?+ L t( D4 tA. Contract the economy by reducing bank reserves " Z! f l4 [3 O2 q
B. Expand the economy through a lower policy interest rate
- g' i) h) i6 B* J. H) D0 S; ~C. Contract the economy through a lower policy interest rate # U: O7 R3 L& I' U( h
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1 [/ d2 Y. [' ^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：
5 `' F5 [8 g+ \( aA. increase 5 r6 Z. v# q1 I+ x7 \" V( F) N! c
B. decrease
& b. x, B0 m& |; UC. 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