|
|
本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑
$ S4 j8 t6 t, c5 ^4 j! J+ G- E! U, P. r, @6 a' O4 ?# c
CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
6 @( r- e6 D8 R3 c, iLearning Outcome Statements (LOS)
8 Z1 G" A* G% z, Ya. Compare monetary and fiscal policy
6 K. J+ \3 [3 b' l2 Xb. Describe functions and definitions of money& a( N# ]+ `. ?' a9 X
c. Explain the money creation process
# n4 |* X4 ?7 B) I- B( N8 Cd. Describe theories of the demand for and supply of money
]* P( i' i4 L& @e. Describe the Fisher effect
0 {. w$ u2 Z1 s9 f) p) Bf. Describe the roles and objectives of central banks
2 m$ D+ s0 \6 c: Lg. Contrast the costs of expected and unexpected
. y9 o- `2 O9 r9 nh. Describe the implementation of monetary policy
4 ~- n6 D8 b2 ]( ~/ y" mi. Describe the qualities of effective central banks
. O; F6 o9 x; j/ P- U* d' Bj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates7 f3 \( o1 b4 ~4 D6 b
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks6 E& _6 |5 [5 ~; {7 Q
l. Determine whether a monetary policy is expansionary or contractionary
1 t4 n c. _) a. J, x) g" }0 j, ~m. Describe the limitations of monetary policy* @+ i* @6 V. t; {
n. Describe the roles and objectives of fiscal policy5 j6 u V" |* u( T+ O0 V4 N9 R0 d
o. Describe the tools of fiscal policy, including their advantages and disadvantages
9 E" S' l# }. Q: S% b' ?p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)1 a' {9 S6 l0 e$ L
q. Explain the implementation of fiscal policy and the difficulties of implementation
2 U* C5 w5 A0 Z9 j# M5 H, q$ `r. Determine whether a fiscal policy is expansionary or contractionary0 s) @& A( s6 W3 o
s. Explain the interaction of monetary and fiscal policy
$ o: B9 L a& H% k
# p) B, `. _: r- z: |Exercise Problems：: `* ~7 f) |- K9 `8 @: Z
1. The monetary policy tools available to the Federal Reserve are least likely to include：% u& `0 K7 v% _9 ?$ r! K9 y
A. Open market operations + ^5 b z' [! `% D
B. The ability to determine the required reserve ratios of its member banks
, G) ~* p# j5 z) g( q. M( O8 wC. Adjustments to the amount of gold held as reserves against Federal Reserve notes
& Y& [6 Q+ k$ p3 i4 A; S2 }# {. G0 U+ }7 v6 W
答案和详解，登录后回复可见：
$ c( W% a' i& w" {# |* G
5 H; o0 i! m5 ]8 a' C! O- p2 ?+ J5 d
2. The primary monetary policy goal of most major central banks is best characterized as：0 B7 G$ C( H' _
A. Containing inflation 7 V, w4 d' d, d7 q" D Z3 l
B. Stimulating economic growth
2 w: q8 y8 {6 P9 t0 T9 _8 F- EC. Maintaining low interest rates $ z+ [9 t9 K9 G+ P. x. N) E X3 s
' E4 U) m! M5 M3 O; T8 v* r" v' T+ r5 o+ c2 {( [; ]
9 | x9 s5 E' p5 N3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? ; m( i6 d1 N3 g, k4 i
A. Increasing reserve requirements 5 d1 i0 \* M, T. a- u) }7 e
B. Selling securities on the open market ) A" s+ E! }& X- k
C. Purchasing securities on the open market
* G2 B+ d' f) L8 g3 Q u- c# }; u1 l: T: q
( d; ]+ e! U; m8 S
& F; E6 {1 r; x& H4. 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：. J, ^8 n3 B0 D1 s5 r
A. Contract the economy by reducing bank reserves ; a' h8 Q1 [4 L$ y+ g/ h0 Z* h# k
B. Expand the economy through a lower policy interest rate
( o$ l/ Q+ q" \, U% l4 F! uC. Contract the economy through a lower policy interest rate
( `- R+ T; V t: I
, ]) e& O7 A1 H2 k6 z- Q! Q/ k7 N3 @0 c$ K7 e/ B
. A8 E" D) ~" G7 }
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：
) z7 a& I( R0 U( U5 U$ ]2 W) SA. increase
* z3 Y: Z+ y3 BB. decrease
6 w3 Q% x N+ X# | J% [/ N6 P6 n: _C. remain unchanged
) T) C7 W& S& H; r" k) D! V
2 g2 ~; x0 M+ J' Z' e! u
2 F9 a( K0 x1 L! v% y# F, L6 @& m0 _- f& Y
更多CFA习题可关注：高顿CFA题库.
" ^& G/ @" m* J& j; j关注微信 CFAFighting （ID:cfa-frm）CFA考试资讯抢先得* x& r& S+ v8 U/ J( P
& ~+ }' ~! `9 Y8 R+ G) Z
& D/ N, W) x+ N+ I7 Q* _8 o/ A9 R |
|
[复制链接]
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