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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
1 s) y; b( d3 _1 d6 R, zLearning Outcome Statements (LOS) 3 X' z$ ]* K' e+ y3 W
a. Compare monetary and fiscal policy. g: R G" r# w) G5 F
b. Describe functions and definitions of money/ r) Y& u- w0 R% [5 ^3 h M) `
c. Explain the money creation process
/ @* i! C7 _6 Ad. Describe theories of the demand for and supply of money
' f' j# T* B+ g i4 ke. Describe the Fisher effect& V7 V$ v3 [6 i# r. B4 ]% V X
f. Describe the roles and objectives of central banks* `0 i. R2 \( `6 y
g. Contrast the costs of expected and unexpected0 u( t s; j$ A; \
h. Describe the implementation of monetary policy
3 ~' V3 f% ]& `1 Y" X$ G' Ti. Describe the qualities of effective central banks
& \" R; a! c: t( B) @j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
; C7 ?; K! R; T5 c+ b4 Q2 @, i( mk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks% D8 K; q! Q, \4 H% M6 c. m
l. Determine whether a monetary policy is expansionary or contractionary5 L# T3 A6 i% k( H/ O/ G
m. Describe the limitations of monetary policy
* }* f9 i1 P1 Wn. Describe the roles and objectives of fiscal policy" h7 L# y3 }9 W$ A+ S- H9 `# U- T
o. Describe the tools of fiscal policy, including their advantages and disadvantages, n; b5 q9 A9 W8 }" Z
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
2 o- I3 a0 H u& [! ^5 `- f5 zq. Explain the implementation of fiscal policy and the difficulties of implementation2 B q/ @" Z( ~* ?
r. Determine whether a fiscal policy is expansionary or contractionary
/ V' u+ a/ `) w: S: _* v6 ts. Explain the interaction of monetary and fiscal policy
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; ~8 m3 h3 k4 D2 h! t; DExercise Problems：% ?" W0 u, ^! ^: X. Q" a
1. The monetary policy tools available to the Federal Reserve are least likely to include：
3 Q- s& `; M; ]$ K; h. fA. Open market operations
& m$ M5 h2 k6 U; A" gB. The ability to determine the required reserve ratios of its member banks ' n: E; q/ S6 L2 |# |. [
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes , o" j6 `# n. B- F; ~# V: C/ `
. i: |3 W1 z, i" d% {* V2 }7 R1 z答案和详解，登录后回复可见：
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4 i" L$ S, z( E2. The primary monetary policy goal of most major central banks is best characterized as：4 b9 y& r4 A/ a) p d
A. Containing inflation
' {! y7 V4 Y. J* S& I! b0 C) }B. Stimulating economic growth
/ f1 E5 Y: D0 Z! m0 ^+ R+ B* ^- bC. Maintaining low interest rates
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* S0 X* {2 S( o q; q' Q3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
5 }, k6 N4 e2 r, VA. Increasing reserve requirements ) u( ~. C* d( Q% n6 G
B. Selling securities on the open market / A* {# B, {, m7 r+ K: ~
C. Purchasing securities on the open market
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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：
2 d0 K7 Y! Q* HA. Contract the economy by reducing bank reserves X( s+ x: ]/ @( Y C D" T
B. Expand the economy through a lower policy interest rate " ^- `6 I: C) R: C" _3 d3 J
C. Contract the economy through a lower policy interest rate
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6 n* o' K0 @' E9 {" s5. 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：, x; v; ]6 Y- W' B( k: [* u1 Z
A. increase : L! ^2 |% |5 O/ F/ d
B. decrease 2 t5 ]) m5 C3 a# g; x, r: M
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