|
|
本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑
# T! L& V2 S* Z
6 e3 A" x2 Q3 _( w3 ?CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
: j0 I$ g! ^4 A6 n; Y* t4 mLearning Outcome Statements (LOS) 8 v7 |+ ?- d: t: c Q6 H+ G
a. Compare monetary and fiscal policy
0 x3 w# h# D% g Z/ {+ ]b. Describe functions and definitions of money
, ^+ o5 C# T( k* p! p/ _c. Explain the money creation process8 S F/ L0 `6 L& v
d. Describe theories of the demand for and supply of money
; [3 H& z0 e+ i( ^$ _3 ^) `e. Describe the Fisher effect2 B; F* E8 J* T8 ?7 V, V
f. Describe the roles and objectives of central banks0 Q, e3 `+ t0 h4 m0 }4 K7 W% q! h
g. Contrast the costs of expected and unexpected
0 y6 ?& \' Y* \( \3 ]" q9 Kh. Describe the implementation of monetary policy
5 J- m; s6 x. i3 O4 C2 y* pi. Describe the qualities of effective central banks
6 Q O3 D/ S) M! C gj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
, E& z4 ?8 \+ `) i) tk. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks; [/ I6 k: [& ~
l. Determine whether a monetary policy is expansionary or contractionary3 w6 l, V ~4 I
m. Describe the limitations of monetary policy
# C" k% ?4 r8 B& ]% yn. Describe the roles and objectives of fiscal policy
/ Z+ C4 d- A2 ]; y; z3 P+ G, so. Describe the tools of fiscal policy, including their advantages and disadvantages% D0 |. v$ M1 R2 U/ i* Z$ e
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
( h/ A) o6 g# L& Zq. Explain the implementation of fiscal policy and the difficulties of implementation1 j5 X1 x3 k: z' W& L0 r
r. Determine whether a fiscal policy is expansionary or contractionary( L; {7 ^2 J# l K# b6 N- `5 }
s. Explain the interaction of monetary and fiscal policy
5 C& }1 F7 z; u6 W' O% Q* Q! `* \ p/ l* K) `5 f% ?$ F9 O$ N
Exercise Problems：
/ t0 I1 `+ R' Y& i$ T1. The monetary policy tools available to the Federal Reserve are least likely to include：
$ ^2 O; [: \8 I: X( {0 f# Y$ U: G) AA. Open market operations
: |& D3 ]. z0 A; @4 j) j. QB. The ability to determine the required reserve ratios of its member banks * ?# v& j* e8 @' I- i$ X
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes 8 o A1 Q' t+ R, {4 x
, H; s8 H% d$ `3 O- V% h4 k答案和详解，登录后回复可见：
1 I6 a# N' F# @; ~# d2 w
* J8 P2 q$ e: J/ I- n/ p* x" T$ N+ L* K* u' E5 a$ _
2. The primary monetary policy goal of most major central banks is best characterized as：
, `: \8 o n; s( q- g0 R/ NA. Containing inflation
. `$ X$ }: z4 V6 z: U5 \; wB. Stimulating economic growth
1 @: U6 y& {9 z4 w" xC. Maintaining low interest rates Z' q1 b* K6 \ |1 R; Z+ ^( @
( _- N! s' J" g9 u4 n
, L* k- @9 G9 J$ C$ t0 r% e9 G1 {" C
3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? % g) @. m0 Q4 e# P% r
A. Increasing reserve requirements
% M9 w/ J) E* @B. Selling securities on the open market 1 p$ ~9 `& u7 U2 a
C. Purchasing securities on the open market
# T3 u, S, T# e2 U7 y8 J3 _+ l1 g9 U, w" d3 m/ m
/ _4 j5 I5 R: F7 r6 e8 S1 h) v" R7 h4 b
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：6 K g% V& t2 K3 T
A. Contract the economy by reducing bank reserves
v( T$ j7 g1 A$ I+ K: J, WB. Expand the economy through a lower policy interest rate % A: O3 v- Q9 D' f% E1 T( T
C. Contract the economy through a lower policy interest rate 9 e$ a8 ]& a0 }
! S3 Q0 V" p4 t. j
& D8 i. u3 }1 V. J# L* K
9 G: A5 L- t3 N5 l5. 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：5 j1 Z8 S; [3 E d! \( Z6 K
A. increase 3 m3 U- D' E: B0 a. S
B. decrease
& l* ]1 v) a2 I$ C# J% s/ X( r7 P& c7 W( iC. remain unchanged + D/ V2 b: G$ O! _1 ~0 y Z
0 O' T l: G$ I5 g, j+ }/ f' N! _4 F) B
/ H; F# X+ O8 V; K* U2 B3 u2 G$ l( f1 |! ]# L& a+ _5 ~* ]
更多CFA习题可关注：高顿CFA题库.+ i& L8 c' Q& ?6 i k" {
关注微信 CFAFighting （ID:cfa-frm）CFA考试资讯抢先得
+ h3 o8 N; v+ b" H+ Y& `
- Z7 |9 h0 D8 F# @
1 D3 q' v8 I) w* ^: E |
|
[复制链接]
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