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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 8 O# v8 ~1 Z5 Y* @3 [. g* {
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点5 \2 u# O3 @9 i+ Y% H3 Q
Learning Outcome Statements (LOS)
. |$ O9 b5 a2 S5 x4 u7 c3 E/ ja. Compare monetary and fiscal policy
7 m& C& S9 W2 }5 M- i2 [b. Describe functions and definitions of money
6 ~% y; f/ Z: D" nc. Explain the money creation process/ Y; k) D# |/ B& X
d. Describe theories of the demand for and supply of money6 t) O& Y' ^& b. T* b" V: N: ~
e. Describe the Fisher effect
6 A5 O: |5 L: n. j9 r6 W" u3 D- D& Vf. Describe the roles and objectives of central banks3 E M i* m3 j0 \ T5 [/ I
g. Contrast the costs of expected and unexpected
( Q8 ]. T9 \+ z1 ?+ ah. Describe the implementation of monetary policy0 [2 |. b4 y/ M) P
i. Describe the qualities of effective central banks
\, U5 q0 h8 G: mj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
$ e5 ?& @& D2 a0 U# n6 _+ o* j. t! Ck. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks% J. f: t4 n. A0 E# O
l. Determine whether a monetary policy is expansionary or contractionary
! _" Q w$ `+ o8 J$ m; {0 J$ Ym. Describe the limitations of monetary policy
0 Q% }* H) l S* V5 r4 i. |n. Describe the roles and objectives of fiscal policy
9 |* Q' J# b. p( Y/ m1 ho. Describe the tools of fiscal policy, including their advantages and disadvantages
% @% C$ _, D3 e% D8 x" B9 Xp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
* o! h8 c8 N: Rq. Explain the implementation of fiscal policy and the difficulties of implementation8 c/ d" F, G( l; G. k" v
r. Determine whether a fiscal policy is expansionary or contractionary
2 e/ k6 F( j0 ~0 ss. Explain the interaction of monetary and fiscal policy
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Exercise Problems：
# Z2 w2 A# R* ^+ ^/ R3 K1. The monetary policy tools available to the Federal Reserve are least likely to include：
: U0 o% a6 S5 }4 l! f4 nA. Open market operations
5 Z1 J5 h; j! F/ }* f# `B. The ability to determine the required reserve ratios of its member banks . r2 i, D' D( v' Y
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：
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2. The primary monetary policy goal of most major central banks is best characterized as：
1 j8 M- y5 n; s5 `, n, {A. Containing inflation
! u" V: d. B2 x# m2 SB. Stimulating economic growth 2 \4 Y U: t; e
C. Maintaining low interest rates
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6 B0 E" A2 e3 D* n& w4 U- r2 O# A3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? ! n( z/ y. F! D
A. Increasing reserve requirements
9 X$ R) x1 H8 a7 U: iB. Selling securities on the open market ) J3 R: S, S1 R- Q4 I, i- o
C. 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 A. q! G3 }2 B" B+ s7 \+ S
A. Contract the economy by reducing bank reserves 9 k, G) e* I' S9 o
B. Expand the economy through a lower policy interest rate $ _, S$ a) @1 ?4 w6 ?8 } e; Z P4 D
C. Contract the economy through a lower policy interest rate
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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：
7 s8 e, K) D c9 }0 VA. increase 7 r) D% i* P4 z8 J
B. decrease ! D1 j: Z6 J1 _4 j1 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