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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 & R2 U4 k; Z" T# F6 |3 [" |
: D# d* N& @+ x+ a$ bCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点3 ^2 D1 a" Z) W1 f S
Learning Outcome Statements (LOS)
. x' k1 x6 ]+ @$ n! O2 Qa. Compare monetary and fiscal policy
7 a1 y- M) V9 `4 hb. Describe functions and definitions of money8 z, _% C( {* Q; y
c. Explain the money creation process! U" X' n1 Y' \2 \2 q. m
d. Describe theories of the demand for and supply of money
( T# H: s) c# J! F0 Ue. Describe the Fisher effect. ^- J, p8 u0 I
f. Describe the roles and objectives of central banks
& }- ?# _0 O3 e" U' og. Contrast the costs of expected and unexpected
8 r8 R X* [3 O: ]* s9 Y2 A6 Ah. Describe the implementation of monetary policy4 T2 J- l+ l" k% S) H9 S0 X
i. Describe the qualities of effective central banks' ?2 R) Y. c# _/ G' P
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates2 D& Q. g/ h$ n; H5 m
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
# E8 @9 h1 J. N% |/ cl. Determine whether a monetary policy is expansionary or contractionary/ _) f8 y$ q% [# ^# W6 g- u
m. Describe the limitations of monetary policy
- M" H% K) E8 J5 c7 mn. Describe the roles and objectives of fiscal policy0 l3 j9 H" n! c$ n# ?, k
o. Describe the tools of fiscal policy, including their advantages and disadvantages
4 R% p$ X' G1 ~p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
, q0 z0 g; _9 c- u3 Hq. Explain the implementation of fiscal policy and the difficulties of implementation
3 b- X. d; j8 B# W- ^) mr. Determine whether a fiscal policy is expansionary or contractionary
! Q* _+ }/ t$ ^1 w) A" us. Explain the interaction of monetary and fiscal policy4 ?, e) q% m, _2 E; X/ B
* N8 N8 h6 d& @$ u! f5 B3 g; ^+ r4 ]6 UExercise Problems：3 }* T0 L6 B" g l
1. The monetary policy tools available to the Federal Reserve are least likely to include：
8 P$ Z/ K+ j) EA. Open market operations
% e9 e/ J! M) o0 y. j& \B. The ability to determine the required reserve ratios of its member banks 6 f. N& ]; y( g7 u* o M
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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( C4 t) z2 l7 G. m4 }- B" F7 C答案和详解，登录后回复可见：
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2. The primary monetary policy goal of most major central banks is best characterized as：
6 I0 @% |! A7 E! T' H6 yA. Containing inflation
; v1 H2 v) z. Y9 XB. Stimulating economic growth
; C$ D; O+ ?7 [3 ?: AC. 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?
% U! d7 R2 K2 H! K6 W0 k3 w% f; |! aA. Increasing reserve requirements
* }0 R4 B# e8 R9 ?$ N; B1 M4 oB. Selling securities on the open market
# N7 A3 ]1 _2 b& A# S1 ?C. Purchasing securities on the open market : _, E( f1 i" B) C7 p. W# q# |8 C- \
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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：
/ p& g) `. k" o9 L7 S: Z( oA. Contract the economy by reducing bank reserves 6 _! z( m+ S+ w6 f3 {$ C# r/ X! C7 n
B. Expand the economy through a lower policy interest rate : k& T" F1 K) ?. I/ |
C. Contract the economy through a lower policy interest rate & C6 w9 J# R/ N
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% k( l$ M: b8 `0 ~: N8 H0 a5. 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：
6 a- Z5 @8 Q: z1 p0 o; xA. increase # F" X5 ^$ B4 M0 [' T' w
B. decrease
2 [: ?2 u4 h2 _# {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