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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 ( F% A% V' I8 J+ S) c
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
* ?2 L. i$ r* JLearning Outcome Statements (LOS) - [0 B9 m6 o, k
a. Compare monetary and fiscal policy5 M4 P6 j( d# ]. l- {
b. Describe functions and definitions of money% w! K- b M8 ~. | @( Z" u
c. Explain the money creation process
9 f9 a3 X, F2 m E% {d. Describe theories of the demand for and supply of money) i$ c0 P8 Y! ]; c6 G9 V) I4 W
e. Describe the Fisher effect
9 p2 ]/ k2 B3 Z' sf. Describe the roles and objectives of central banks+ M* J8 [" r2 ^9 K1 a
g. Contrast the costs of expected and unexpected6 S9 n) T0 o7 P8 J4 x j+ J
h. Describe the implementation of monetary policy- }2 y% l- n% [1 s5 n
i. Describe the qualities of effective central banks
/ L8 }! X2 h5 D) K$ Y7 ]j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
8 D% V9 x# I8 N# \) j# c$ _, Sk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
! p, O! |6 a x ll. Determine whether a monetary policy is expansionary or contractionary. b( U- \8 I. \6 G
m. Describe the limitations of monetary policy3 a' M" o" D4 Y2 l
n. Describe the roles and objectives of fiscal policy
5 u/ s# a; q4 C! e# J& U. q. @6 Co. Describe the tools of fiscal policy, including their advantages and disadvantages! D- h" c' J5 k! B I
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
; S6 e t H9 r; X% s, u: b6 `# r0 yq. Explain the implementation of fiscal policy and the difficulties of implementation3 n5 Z; s' I! F4 J2 `9 _
r. Determine whether a fiscal policy is expansionary or contractionary
$ `. I" l0 ^4 [* ^' Js. Explain the interaction of monetary and fiscal policy
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5 T- `+ B1 f# u8 _Exercise Problems：
1 e Y" K3 U4 ?8 n2 ]) \1. The monetary policy tools available to the Federal Reserve are least likely to include：, j! H8 S5 v( r' d& U6 l: g& e
A. Open market operations 7 `# M, d1 B% X6 z
B. The ability to determine the required reserve ratios of its member banks 1 j ]( U2 u5 W1 b( S% o. v# f, l
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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6 q- b+ t9 C5 k$ s% z0 e2. The primary monetary policy goal of most major central banks is best characterized as：
) I% Z6 Q4 M! k+ Q0 K2 pA. Containing inflation 5 j; K8 ]/ F, ?" S
B. Stimulating economic growth ' X7 W% T6 Q1 i% U& V b/ d
C. Maintaining low interest rates
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% c7 A. u! z% ~6 v% t3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? * a; O; U, u8 t2 \# f
A. Increasing reserve requirements 7 A) z6 N( V n2 M' V+ y. V
B. Selling securities on the open market
8 p& r- e6 ^# G+ k" [8 oC. Purchasing securities on the open market
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6 w( S$ h' h( A# \6 w! K9 v4. 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：- B7 E2 Z8 c9 Y) X
A. Contract the economy by reducing bank reserves 0 N3 s/ S* I& H7 l9 m, J
B. Expand the economy through a lower policy interest rate 9 L3 m5 K, A" a9 M6 H
C. Contract the economy through a lower policy interest rate
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) M+ ?" H' ^- W/ B% H V5. 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：
3 R1 G, e8 F. m1 _: n( dA. increase
* T, V ^! n# W* [B. decrease
. \9 m& \" F3 h+ i' rC. remain unchanged & ^+ V* S& Z' `/ z8 S8 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