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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 $ p% ]1 V3 M2 }" l4 N
# Z) t4 R7 W0 r$ M( MCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
* [. k4 k% @1 F1 T0 Z% ~Learning Outcome Statements (LOS) 1 F# V4 H8 b C
a. Compare monetary and fiscal policy
. f- V3 k' U/ k7 O0 ]7 [4 M6 Nb. Describe functions and definitions of money. v5 y% O& \" _+ p. P5 F
c. Explain the money creation process
, E4 }5 y. a' f; N) Z: V* sd. Describe theories of the demand for and supply of money
3 D2 I0 d2 Z# ce. Describe the Fisher effect
6 M5 K% e5 I# A ?f. Describe the roles and objectives of central banks
8 |" l' e8 ]9 y! O# ` P6 b! pg. Contrast the costs of expected and unexpected
: |! _& ]6 j; q, O+ D2 u3 dh. Describe the implementation of monetary policy( x, M: T. N0 `: w5 T
i. Describe the qualities of effective central banks9 @" M$ P q" I) a9 b2 K5 P
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
0 }* J: M* N1 y1 \: @k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
) L2 p" `% G' i0 r0 w3 i+ kl. Determine whether a monetary policy is expansionary or contractionary
+ V" B- {. A; y' Sm. Describe the limitations of monetary policy# g$ P: l6 x6 n6 U$ i( \
n. Describe the roles and objectives of fiscal policy
% u8 t: G$ i8 _o. Describe the tools of fiscal policy, including their advantages and disadvantages
5 {) L& W' I# u, X9 |3 b& \8 wp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
2 J6 n/ z8 r9 dq. Explain the implementation of fiscal policy and the difficulties of implementation
; c7 X: I4 ?& v& U5 Q& @( fr. Determine whether a fiscal policy is expansionary or contractionary* v1 y) D* n8 R
s. Explain the interaction of monetary and fiscal policy
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Exercise Problems：7 _/ L y; e) A) I+ p0 N) K) ~
1. The monetary policy tools available to the Federal Reserve are least likely to include：
' S# ~' A/ I; o' Q; r( S1 ^1 aA. Open market operations . q2 g/ r8 E. e- ]4 a6 p1 q
B. The ability to determine the required reserve ratios of its member banks
0 f/ l9 {' Z: w6 F5 {C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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' S; l( E8 ~7 _# U7 b答案和详解，登录后回复可见： ; T( d A# m3 j) N" E' W
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2. The primary monetary policy goal of most major central banks is best characterized as：8 I0 B# s6 ~0 J4 a! p% M$ `! W5 A$ a; Z
A. Containing inflation
+ G) B& a2 N. N+ m' {, @2 V" l( bB. Stimulating economic growth 7 b0 a6 {; W( i$ o2 N6 J( k
C. Maintaining low interest rates 5 u/ f3 Z" d* c2 j
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
) g. \7 T1 t1 ~! d0 d- A# zA. Increasing reserve requirements
& o+ {. F" q+ M' S6 q. P& o' EB. Selling securities on the open market 7 a _) k; j, ?: {
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：
! |; @" ~4 F# DA. Contract the economy by reducing bank reserves
8 d& W# O" N: jB. Expand the economy through a lower policy interest rate
6 |% P" R2 s ]" T( qC. 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：
8 N% {+ {/ m+ @7 n/ MA. increase
% ~, P1 ?# Q! Q! T' @, sB. decrease 3 Q* W+ e) ?7 O
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