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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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; D( F7 z; b9 _* ?/ ^( K% dCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
" K2 I% s: \# m/ `; }' s! WLearning Outcome Statements (LOS)
( r* [+ K4 R! p6 y. E# [7 da. Compare monetary and fiscal policy
/ m/ b* X; B% z" u' `/ Q3 Qb. Describe functions and definitions of money. V* j. f1 M* j+ q
c. Explain the money creation process2 ^9 C0 `; B- C! _
d. Describe theories of the demand for and supply of money
; k& V9 d: D8 l- me. Describe the Fisher effect
" v# r, L$ G' c6 x: M! Of. Describe the roles and objectives of central banks
* d) L) _4 i; q' _ Ig. Contrast the costs of expected and unexpected" I) L/ V2 j9 x1 V
h. Describe the implementation of monetary policy/ N4 d& ?; y# }# {5 c
i. Describe the qualities of effective central banks: C* [" R/ C& p* `+ K1 l$ _
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
6 I& A8 \7 U% Z- Y# pk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
7 w; i! n% W9 P1 Z, E) ^- Y; o$ El. Determine whether a monetary policy is expansionary or contractionary
0 }, ]: R- Q9 t/ A% F+ I+ Um. Describe the limitations of monetary policy& b7 s6 ^/ a7 r4 i: V" u6 z, J
n. Describe the roles and objectives of fiscal policy
7 S6 S3 Z! D# d7 ho. Describe the tools of fiscal policy, including their advantages and disadvantages3 m8 Z s+ t( R, G
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)) p) A) ]7 [. N. K8 k8 x; r! d
q. Explain the implementation of fiscal policy and the difficulties of implementation4 c0 ^& l8 u8 @2 |8 P8 ?
r. Determine whether a fiscal policy is expansionary or contractionary
( x/ m, _: n6 c. }) n4 Ns. Explain the interaction of monetary and fiscal policy
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$ P5 P7 h, s* y0 LExercise Problems：
6 a, r# ?7 @4 d1. The monetary policy tools available to the Federal Reserve are least likely to include：! M1 o; x- i+ z" H( B
A. Open market operations
% B: R2 N8 `& @! E- sB. The ability to determine the required reserve ratios of its member banks / a9 p: x. l6 s/ V3 f
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes ( e; |# N# G9 C- f, p
, |$ \1 Y7 O- u9 {4 \, I答案和详解，登录后回复可见：
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& R2 D4 K) a; O4 n* V2. The primary monetary policy goal of most major central banks is best characterized as：
! n, _6 L( I9 t3 V4 ]+ C+ C' ~/ B' TA. Containing inflation
3 z# E+ v# ]% W' L0 F, B$ \B. Stimulating economic growth
' Y" Y; i7 y; t/ m3 iC. Maintaining low interest rates / y# N# C) j: S/ t2 K7 K8 M
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? # S* X+ z1 K% K, v
A. Increasing reserve requirements 7 W7 V, B& \/ x* L( m
B. Selling securities on the open market
( C$ g. l0 p% v3 eC. Purchasing securities on the open market 9 {4 J/ c$ }, }* q
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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：! k7 f4 N6 q5 ]$ @6 ^2 ?1 w
A. Contract the economy by reducing bank reserves , {2 L* F& V! g( s
B. Expand the economy through a lower policy interest rate
. S& J! Z" Y$ X7 b: xC. Contract the economy through a lower policy interest rate # \3 v7 c; C H% }4 _
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- w! C: r4 D. j+ @6 p5. 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：
/ G6 q6 k* d, k1 QA. increase
2 u9 {' w$ s5 V4 |' x% kB. decrease % e3 h- W0 y8 V' R M 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