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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
( P" p) V# V, k' |: J1 ?Learning Outcome Statements (LOS) ! o% V9 j2 t7 e B6 y$ T2 N- D$ u) n
a. Compare monetary and fiscal policy
; s6 A. K( J! b% Y6 U. Gb. Describe functions and definitions of money
. C0 t9 ~' D( A- K8 |! p! Hc. Explain the money creation process
% x# Z1 @& H& B. J& Ad. Describe theories of the demand for and supply of money q; K4 x% H5 V
e. Describe the Fisher effect8 q# W* j5 G( E5 }
f. Describe the roles and objectives of central banks
6 p* u. O! X7 \) e2 Wg. Contrast the costs of expected and unexpected
4 O3 f4 H- b" z0 D" n; ah. Describe the implementation of monetary policy
- N0 P6 g$ D$ ?! t! f5 ni. Describe the qualities of effective central banks
6 q- z5 q _5 T) jj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates/ d! H. Z5 g8 \* O! G! D" N6 r: Y
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks4 u0 K9 I" \6 m" ?: z4 ?5 w+ @
l. Determine whether a monetary policy is expansionary or contractionary6 ^. G% t) M% a% Y/ h
m. Describe the limitations of monetary policy! q& r5 |+ V7 J; [' Y g3 [6 m( q
n. Describe the roles and objectives of fiscal policy
, [1 J; `- C, yo. Describe the tools of fiscal policy, including their advantages and disadvantages& m8 |2 s5 }4 f
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)- g9 X+ }2 j7 W( J& R; I1 T
q. Explain the implementation of fiscal policy and the difficulties of implementation
- f% K- W+ D; S7 d7 cr. Determine whether a fiscal policy is expansionary or contractionary- N5 N8 x/ W, S: ?- H3 J9 N
s. Explain the interaction of monetary and fiscal policy7 I, l) T$ |9 m+ F; f6 h
# M3 {3 _% a, i4 Q" }8 U& t/ |. @) RExercise Problems：
) G" k1 O W9 {& p9 @1. The monetary policy tools available to the Federal Reserve are least likely to include：
5 m( R l& D1 lA. Open market operations 5 m6 n% z. y8 t5 }$ j4 |0 Z7 |6 G2 Z1 j
B. The ability to determine the required reserve ratios of its member banks
( U0 p o0 ?7 \0 q- I! JC. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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# B4 l8 ~+ Y2 Y' }& V答案和详解，登录后回复可见： 1 _% c! H, r- A: \3 Y2 @& }7 h1 L
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: T# {4 Q: R+ P }: P2. The primary monetary policy goal of most major central banks is best characterized as：/ j6 h3 u5 H1 L0 x3 Z) V
A. Containing inflation ; K% M1 G; |: J4 P( \
B. Stimulating economic growth
/ c' Q" G! \. @8 ]. O0 r) e# y8 IC. Maintaining low interest rates
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" ?, K/ j/ j- l" p4 j" r3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? 7 P7 a3 [" ?) f
A. Increasing reserve requirements
! Z5 ~# y2 f/ L; I& q6 M% A$ H+ yB. Selling securities on the open market
! O7 k4 f. C N% z3 S( v. wC. 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：
2 d! s w( L C0 S7 [! o" ZA. Contract the economy by reducing bank reserves . X. e, W( u+ m4 a# t+ }( o
B. Expand the economy through a lower policy interest rate . l1 E" s) A5 J
C. Contract the economy through a lower policy interest rate M$ n# f6 X4 y( l
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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：
1 J+ E" R2 J, _, k' C: m3 ?' S2 rA. increase , ^/ @* e: H: b! {% f" c
B. decrease
0 a' B& @! S$ Z) \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