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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 . }' S) K% {8 ?: ?. T
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点; {$ C5 H8 U- o, H6 W
Learning Outcome Statements (LOS) + G* y |1 W* i) s+ R) u+ A' m* U
a. Compare monetary and fiscal policy
* m" F/ p5 I* @% w) d7 `$ |9 z zb. Describe functions and definitions of money
" e. R' Q+ ]; v" _* Ic. Explain the money creation process0 r3 e* |; `' h9 D l
d. Describe theories of the demand for and supply of money% `. ?/ u$ B! `0 t& T
e. Describe the Fisher effect
& Y1 I) {- Z5 Cf. Describe the roles and objectives of central banks
" b! y7 z$ k& \( X$ zg. Contrast the costs of expected and unexpected
( d5 `* z. K- d7 V; t8 P) vh. Describe the implementation of monetary policy
7 A* R" @& g5 C l" F) X- d, y4 a+ Vi. Describe the qualities of effective central banks
# ]+ Q# p7 E7 W# W& ] a5 aj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
) G$ B& s! p* W- L8 D" x8 Mk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks, j" P# j5 ^( Z) ^" `
l. Determine whether a monetary policy is expansionary or contractionary
( f. Q5 @2 Z% X* em. Describe the limitations of monetary policy
- r; |% |1 J) F+ z/ Qn. Describe the roles and objectives of fiscal policy/ C% ~$ u& X" z- ]! |5 W
o. Describe the tools of fiscal policy, including their advantages and disadvantages
8 K$ z) T1 ?& `; ep. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP); w% G3 o8 s: R( r0 d5 y* _
q. Explain the implementation of fiscal policy and the difficulties of implementation5 n9 m' x, Q( a- L# W0 {* L3 m1 m
r. Determine whether a fiscal policy is expansionary or contractionary
1 \5 ?% M7 T2 I. Ws. Explain the interaction of monetary and fiscal policy
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# t, v8 a! i- C1 xExercise Problems：
1 Q( U2 H6 M% v, j1. The monetary policy tools available to the Federal Reserve are least likely to include：8 Q* @' k+ z; q" b2 v8 @ C4 Q6 K
A. Open market operations
8 C3 a- I8 Q2 j# d+ v6 \B. The ability to determine the required reserve ratios of its member banks
% @( x9 z$ G$ ]0 {7 [; p! ~, wC. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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$ g% t& M7 T; {: v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：
0 y: u% }# {7 A0 C$ ^! MA. Containing inflation
8 ^5 _ W' X4 U# MB. Stimulating economic growth ; F! \+ S- \" d) I! V) `+ q8 f
C. Maintaining low interest rates
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; c3 m1 p& T( R8 C3 p; Z3 d3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
( E# H9 [, p/ Z% X; u: @A. Increasing reserve requirements ) o" @/ O+ p8 g! R+ B
B. Selling securities on the open market
. d+ p3 }. E3 F4 D" k- D! } LC. Purchasing securities on the open market 7 v* S1 k8 {. e( c
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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：& {6 G! y, d. p& K8 t) i
A. Contract the economy by reducing bank reserves , q' h3 Q2 H7 `: y
B. Expand the economy through a lower policy interest rate
' P" X3 _% ~' R) B) B- kC. Contract the economy through a lower policy interest rate 5 i/ z' M& y7 ]& C- ^: [7 o
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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 e. c, [7 c% A/ OA. increase O# D& D3 V& L8 j0 p. ?) G6 i3 r+ b
B. decrease 4 d" M, U* i: `+ |! K& o2 C" h
C. remain unchanged & q r- ]: n/ d" \3 q6 ~ y
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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