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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 ( D$ G- f$ d/ L- h, c
- ?! y* z+ P) u! VCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
# t1 m3 X. z1 I; n1 tLearning Outcome Statements (LOS) 4 k& N0 n& Q# C) [% x: [
a. Compare monetary and fiscal policy7 \9 e7 K1 L+ A% ?8 c& Z: J4 v
b. Describe functions and definitions of money
! \) d8 g6 L$ A2 v3 X/ ? S! `7 @; ^c. Explain the money creation process) B- G; U% h5 m* c
d. Describe theories of the demand for and supply of money/ l3 a% Y6 A* v
e. Describe the Fisher effect: K4 U+ S4 e# ^
f. Describe the roles and objectives of central banks! j/ F/ D1 m+ t0 z
g. Contrast the costs of expected and unexpected, U5 P) x' ^5 t: |) k3 a" q, d0 J
h. Describe the implementation of monetary policy
! w1 c" T- A, S/ M: v: c" N4 t5 X: Z$ oi. Describe the qualities of effective central banks
& z8 \7 g8 D5 y# R* Uj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates
6 w. A9 q$ }" _* ]k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
5 H7 q1 s/ t. O+ el. Determine whether a monetary policy is expansionary or contractionary3 p3 K! e' {9 D$ q5 f: @ e
m. Describe the limitations of monetary policy
8 x) C6 \) W( |1 Dn. Describe the roles and objectives of fiscal policy G2 `6 n8 j# y
o. Describe the tools of fiscal policy, including their advantages and disadvantages8 D4 w5 H; S+ e! ]3 d$ u4 K/ f
p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP); ~! H" Q9 Y6 y- ]0 B$ K
q. Explain the implementation of fiscal policy and the difficulties of implementation
! r& x' R Y: P3 W& rr. Determine whether a fiscal policy is expansionary or contractionary9 X' j u. y8 V6 T4 i' F2 m0 k
s. Explain the interaction of monetary and fiscal policy
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# A9 h0 G# I" R- [$ O. CExercise Problems：$ }$ @! g# d( Y
1. The monetary policy tools available to the Federal Reserve are least likely to include：7 T) _: f: i. V
A. Open market operations
+ I- D7 T$ m& ?B. The ability to determine the required reserve ratios of its member banks 5 E5 p% U/ g+ E, x0 p/ [
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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~" D T2 {% N, F; e答案和详解，登录后回复可见： ' {# h. U, ]4 X) J7 E( A
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2. The primary monetary policy goal of most major central banks is best characterized as：* x c& e" E% d2 d
A. Containing inflation 1 F+ x9 v5 H# H, { M7 W
B. Stimulating economic growth ; H4 h8 V* ?3 O: R9 L4 [) p6 ^
C. Maintaining low interest rates 6 a. W# e* ?9 S+ A, [5 i' A( X
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
1 G: H. W7 V& J h8 s/ O+ x1 ^A. Increasing reserve requirements
( F* Q, f, W/ W) }7 J" B! YB. Selling securities on the open market ; c, b+ e1 I' \# T0 z' y+ S
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：% k$ j. _. k4 C6 v( Z
A. Contract the economy by reducing bank reserves & k/ r8 x& }3 a1 H. b& V2 }
B. Expand the economy through a lower policy interest rate # s$ e! u& o; H7 v4 H; D# o
C. Contract the economy through a lower policy interest rate
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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：
Q; z/ C; M" j% aA. increase @4 }: f& z' p
B. decrease ; R* K' N5 Y- c
C. remain unchanged 8 @, o S) P( l8 V
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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