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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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* u6 v# E5 {7 G' E- V2 @5 S' RCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
7 z$ a8 y+ X, oLearning Outcome Statements (LOS)
: v! ?0 K4 P2 Y# r. B+ r6 oa. Compare monetary and fiscal policy1 K; Y8 N+ o0 x
b. Describe functions and definitions of money
0 y6 ~6 D, ]1 F) c7 Ac. Explain the money creation process: _5 X0 c9 ?/ c( o0 _
d. Describe theories of the demand for and supply of money2 \- y/ f1 {- F7 r4 P) h
e. Describe the Fisher effect" @; i, B: ]& ?- ^8 C. E
f. Describe the roles and objectives of central banks1 z N8 T+ U/ W; {; h" t
g. Contrast the costs of expected and unexpected
" ?, r `3 l* w% }6 q+ S9 K Mh. Describe the implementation of monetary policy
5 s( [4 X {. g! D- b, Yi. Describe the qualities of effective central banks ^! e, H* s8 ~4 ]
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates( i! q- C" z% G3 ~; r
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks9 d" T( I# ~# l4 k# ?- a
l. Determine whether a monetary policy is expansionary or contractionary
7 n; |# J8 ]( T7 B" P3 bm. Describe the limitations of monetary policy
" w5 w2 I# N4 N/ Sn. Describe the roles and objectives of fiscal policy- [' i2 s& a0 v* D
o. Describe the tools of fiscal policy, including their advantages and disadvantages: B- x, i0 X0 \/ p3 J
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP) y4 a: P% A) K/ u
q. Explain the implementation of fiscal policy and the difficulties of implementation
% r2 Y, `' R0 A+ Hr. Determine whether a fiscal policy is expansionary or contractionary. A. {* ^) y2 y
s. Explain the interaction of monetary and fiscal policy
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. f- W {8 n; }8 @- {$ S8 gExercise Problems：* V0 [3 C/ L8 _: l C3 S
1. The monetary policy tools available to the Federal Reserve are least likely to include：4 q3 \, t9 C2 }6 \- _
A. Open market operations ) F" g7 \3 w2 \& f. u
B. The ability to determine the required reserve ratios of its member banks ; \$ Q% x% m; w
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： 3 i/ y% H" @6 W& h- |
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2. The primary monetary policy goal of most major central banks is best characterized as：) g2 F8 e4 W- y% U- ~
A. Containing inflation
* Q. w( L3 L( _" N! ~7 m; e' ^B. Stimulating economic growth ' O/ k) W1 P: } }# b6 n
C. Maintaining low interest rates 5 `& J5 ^' }9 h `& 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?
9 O K' P2 ]& y' X# u8 iA. Increasing reserve requirements
/ v6 B) u9 f( T9 s. j4 p& u* UB. Selling securities on the open market
% ]6 X, H% U. ^" a* b* Q$ {3 UC. Purchasing securities on the open market 6 q% Q: C9 ^2 O- a( }+ E
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. B* `2 H- \. |+ z0 U4 Z4. 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：
" x1 S- Y* x8 n; O5 u6 oA. Contract the economy by reducing bank reserves
; I; h& O* \+ ]B. Expand the economy through a lower policy interest rate
7 O, ?) k0 Z& z8 n. eC. Contract the economy through a lower policy interest rate 4 C8 ^1 h, V& N5 o2 O: o6 W! F ^
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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：
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B. decrease 4 \$ B3 {& W* V0 j4 r6 `
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