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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 6 I+ s8 u5 U7 x Z% F
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点/ @! W4 E, _) I$ L# h3 E& V
Learning Outcome Statements (LOS)
- T( c2 v# a" m* C: Y# da. Compare monetary and fiscal policy
/ i3 d( G' c4 ], S5 U# Z0 [b. Describe functions and definitions of money& s# n: k. P8 i/ q3 A' w& h- e
c. Explain the money creation process" V% Y" H5 `% \
d. Describe theories of the demand for and supply of money+ L7 @. n6 J+ m8 m0 Y4 G
e. Describe the Fisher effect
" A9 } Q, U% l# L$ df. Describe the roles and objectives of central banks
' r" V% X" H4 w/ pg. Contrast the costs of expected and unexpected
! ?- P( {& J, h/ J0 @h. Describe the implementation of monetary policy) _/ o, V, P1 f% p$ F$ _, {
i. Describe the qualities of effective central banks
, J! }& Y5 p# o- u5 F. Gj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
3 Y5 R* J, U4 Z( Nk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
6 @% t) _8 R: e% n3 `! gl. Determine whether a monetary policy is expansionary or contractionary
2 `5 h3 i# H; Jm. Describe the limitations of monetary policy0 U. r: m1 K* s/ p: \# Y& }, A
n. Describe the roles and objectives of fiscal policy C. p- r. Y; L: N
o. Describe the tools of fiscal policy, including their advantages and disadvantages
. J1 M8 u# J5 W: [% _4 qp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)( Q5 Q; W! {9 x# T: s. I" @
q. Explain the implementation of fiscal policy and the difficulties of implementation- N2 M, f# |7 Z3 g1 ?+ v8 d
r. Determine whether a fiscal policy is expansionary or contractionary! G# t& l8 x& m7 K# s8 N
s. Explain the interaction of monetary and fiscal policy z: e" t4 _2 }+ W% ?
) p& }# J D* N) G( j) UExercise Problems：
& _. [) g! ?0 m* y, J- V1. The monetary policy tools available to the Federal Reserve are least likely to include：: i* N h1 @- f) t- S3 U$ Q
A. Open market operations - X$ D! u# j/ f1 q1 [ n- I- \5 u; G
B. The ability to determine the required reserve ratios of its member banks / t: [8 d# n9 k, s* u
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes ! h2 c9 U4 @# Z8 X) f
]1 ~' P. | _8 E, E7 E% J答案和详解，登录后回复可见： & E, b _7 d5 M7 C$ ^
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2. The primary monetary policy goal of most major central banks is best characterized as：
6 | g% B8 W! \$ @9 [5 c3 c! {A. Containing inflation
, F; R" ?9 c# L# j' U4 f( _$ ~B. Stimulating economic growth
5 B/ ~4 I- ?/ tC. Maintaining low interest rates
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? S8 I/ Y+ @- C
A. Increasing reserve requirements
% v! d4 s/ v$ k9 c, {! {0 BB. Selling securities on the open market & g# m0 E0 _9 ^4 g. J
C. Purchasing securities on the open market
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3 [# w; E, e* `" [/ F0 z4. 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：) E: a* H9 A/ Z" e0 b) ^) c
A. Contract the economy by reducing bank reserves
+ ^6 d6 U- ~3 y! H' W9 H: a& W/ i, qB. Expand the economy through a lower policy interest rate ' D" ~" D- T v3 T( V, ]# z
C. Contract the economy through a lower policy interest rate ) v0 q8 H5 t. j: M/ M2 \
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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：0 Y$ d/ i8 o* s; K5 e
A. increase W b j( \8 `6 ?" Q4 B' P
B. decrease
6 r% D5 g* V* n& h8 o+ jC. 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