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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 0 U1 x6 [1 V* w4 V
, u/ I1 R \: S) U( VCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
( ?9 ~) q( I0 n. X: FLearning Outcome Statements (LOS)
: I0 b2 d' C- a* na. Compare monetary and fiscal policy$ N" ~ X0 N& v& `2 F T$ ~
b. Describe functions and definitions of money
1 J( J& |& i& S% | X8 Qc. Explain the money creation process3 o0 K( {& U" S' F/ ]
d. Describe theories of the demand for and supply of money
5 ~6 L% Q- J3 }! ?6 g+ i" De. Describe the Fisher effect
6 N7 j, C! n# S6 if. Describe the roles and objectives of central banks9 z" M$ e5 n ]' C5 H3 y: g7 P b
g. Contrast the costs of expected and unexpected
4 b. D$ u& t. D+ H* }+ a. {h. Describe the implementation of monetary policy
% \: C4 U; c8 vi. Describe the qualities of effective central banks
2 D& C+ l* Z! ]0 vj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
. d9 |2 U9 u* `) X; o: X9 ]) T, `& pk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
, _4 j4 D2 x; v7 @; r' m t/ Hl. Determine whether a monetary policy is expansionary or contractionary n4 }& P6 Z, j; c
m. Describe the limitations of monetary policy
# K2 K# W, P, @+ c8 Gn. Describe the roles and objectives of fiscal policy
/ W3 [. N8 i3 C0 |' i7 ro. Describe the tools of fiscal policy, including their advantages and disadvantages
; W6 F$ J# M ~( Z: y( o) pp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
1 h* R+ j! j" P0 sq. Explain the implementation of fiscal policy and the difficulties of implementation
% k1 `! M4 ]! @" g8 ~" ar. Determine whether a fiscal policy is expansionary or contractionary
: |4 n. k+ Y2 P' b6 Qs. Explain the interaction of monetary and fiscal policy
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2 ]. R% v2 O r% n/ T/ h" JExercise Problems：
1 i& f- x2 D; ]) ^. p, s1. The monetary policy tools available to the Federal Reserve are least likely to include：
" k, f3 c- o* c/ j1 B* ?A. Open market operations
# F, j$ W% m6 X& Y1 `0 M; PB. The ability to determine the required reserve ratios of its member banks 1 E/ B! {4 M" h2 e% ]2 N
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes ! o2 ?) F0 E5 }8 ?; ]# @
- H2 e4 h- u2 z: J答案和详解，登录后回复可见：
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: ~( E I/ B2 m& b2. The primary monetary policy goal of most major central banks is best characterized as：* }% z6 u5 f; Y# w5 t2 B* a
A. Containing inflation
8 P- w/ K- L! d+ A5 N p* M% J8 A5 \B. Stimulating economic growth
5 _1 M0 ?4 h, \- Q% j- O+ L& pC. Maintaining low interest rates 9 f2 H6 R- K0 L$ y U3 ]
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3 S+ W7 g( p% ?6 A- G3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? : u) P+ ]7 s: r3 U0 z6 G7 M! ~
A. Increasing reserve requirements
* b+ t. ?% U- r* o" [7 nB. Selling securities on the open market 6 c4 n# `6 ~: N3 V+ x! B5 d
C. Purchasing securities on the open market + k G5 C9 e! |/ m. b8 ^ N# J5 @
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# ~. V+ f- I" ~. n4. 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：
0 z$ G2 B+ k8 l4 B1 q) R3 RA. Contract the economy by reducing bank reserves + y3 Q, Z0 Z6 }
B. Expand the economy through a lower policy interest rate 2 C$ p$ @) Q: P' C1 U7 [; |, l
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：
* v6 [; x: n! [+ q6 lA. increase
' Y/ F' \# p) q2 ?4 _B. decrease " H7 `, N! z7 J/ @ Q( x+ f1 S
C. remain unchanged & d: F b6 J7 u% F9 _9 A
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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