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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, x; A+ M: G5 B. {, \: ]
Learning Outcome Statements (LOS) / u4 @# A3 G! M2 m9 o
a. Compare monetary and fiscal policy
* m# g3 \. r4 C9 Bb. Describe functions and definitions of money
; ^! k$ X" j( T* H; @9 Z: c& ~c. Explain the money creation process2 H; k" m' u+ G
d. Describe theories of the demand for and supply of money
: J/ j( v7 H& Y7 a2 n! A1 ?e. Describe the Fisher effect5 o0 i2 O3 A7 E7 E! I8 d, X
f. Describe the roles and objectives of central banks
* H, l/ e1 L, b2 bg. Contrast the costs of expected and unexpected
7 `9 T5 N( C4 M6 ch. Describe the implementation of monetary policy
3 I' V4 R5 {: v+ Z5 ^" x- Hi. Describe the qualities of effective central banks
( \3 N8 h( K5 |# C3 I: \j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates! e z/ U3 C2 k! B8 Y
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
* {' U1 j1 _( ?l. Determine whether a monetary policy is expansionary or contractionary# R# X: b8 \; F! d, E- B% q7 M
m. Describe the limitations of monetary policy9 e) g- y2 G" y4 {# C: i
n. Describe the roles and objectives of fiscal policy
. @8 P, Z2 G) j- b) R6 r2 Z w1 Vo. Describe the tools of fiscal policy, including their advantages and disadvantages
* R5 B( o$ E+ [8 z9 ?p. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)0 R$ q! X# ~4 Q9 t3 @
q. Explain the implementation of fiscal policy and the difficulties of implementation, h9 k% S5 m. I3 X% }5 ^: V2 h
r. Determine whether a fiscal policy is expansionary or contractionary% i% a8 M( A6 |0 r: W7 M5 o2 [
s. Explain the interaction of monetary and fiscal policy/ ]& ]" [+ B: T( e3 d9 z$ m7 A
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Exercise Problems： H4 s! O5 @- f1 ^. Z# n
1. The monetary policy tools available to the Federal Reserve are least likely to include：
. ?* f+ s/ H+ c" ^9 |A. Open market operations * G# r0 u& e! R1 _: O
B. The ability to determine the required reserve ratios of its member banks
# j6 W" b3 H* S, fC. Adjustments to the amount of gold held as reserves against Federal Reserve notes ) M' t/ R7 F# T, h7 i5 b2 Y
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答案和详解，登录后回复可见： 2 ~0 f5 ~7 d( e1 N
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" I# Q& R# l3 K& U# J; `( U2. The primary monetary policy goal of most major central banks is best characterized as：* P: k2 I+ T1 M1 P+ M
A. Containing inflation
& a* Y4 E1 Q0 m& M4 qB. Stimulating economic growth ( _5 }/ F4 ~3 v4 i4 s1 f' q/ J
C. 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?
) v+ \. s' j9 y/ FA. Increasing reserve requirements
& g* z! A' |* R) k5 a1 nB. Selling securities on the open market 4 h! ^$ B+ Q4 ^7 t
C. Purchasing securities on the open market
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' T$ @. b* v; R2 u1 n a4. 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：, r8 B3 ~6 U1 V0 \3 A3 C6 ^8 F3 c
A. Contract the economy by reducing bank reserves
* [& R4 e* Z a5 O" `% \B. Expand the economy through a lower policy interest rate
) F7 S- v+ L! Y7 [4 s5 L8 XC. Contract the economy through a lower policy interest rate
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" S# ~: }, D* x3 o9 @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：1 l2 P, b. T- `2 Z6 M8 X1 Z, ~: w
A. increase 3 P7 }9 E# \* E$ F2 y' C9 v" [+ w6 t
B. decrease 3 ]7 Z) G$ |( b- E( }5 X) P& ?
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