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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 8 m* e: c, M( h. I! o" `
Z' w4 e1 d( _! l; @2 ]2 MCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点! q) c7 L& q4 g% }7 P
Learning Outcome Statements (LOS)
- D% O( m4 l0 o; l! Ra. Compare monetary and fiscal policy
. ?7 e0 S) u+ {+ f6 z1 M4 vb. Describe functions and definitions of money
7 p% P/ _/ l2 }7 ]+ l8 Uc. Explain the money creation process
. t% ^% z! s; P" X6 md. Describe theories of the demand for and supply of money
+ n) x1 N6 {7 s% _+ Z/ X: Fe. Describe the Fisher effect
' [& w8 ?" T1 K; l7 c- zf. Describe the roles and objectives of central banks! i- h" d& Z/ V9 y: u
g. Contrast the costs of expected and unexpected' _6 B; t% A3 c2 d
h. Describe the implementation of monetary policy* r; B9 s" j3 e# B
i. Describe the qualities of effective central banks
' n3 c1 \/ r) d" k6 ~j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates% n$ ?8 L6 `: \: g
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks4 G! d x* q0 z& W% f5 F
l. Determine whether a monetary policy is expansionary or contractionary7 _, z) ]- s. [/ \$ e: `' q
m. Describe the limitations of monetary policy
' |1 c' s. W* wn. Describe the roles and objectives of fiscal policy
2 p, s( L8 K1 ?4 c) i% \o. Describe the tools of fiscal policy, including their advantages and disadvantages
! K0 w( x5 w' J% O4 U. \( dp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
9 |2 V: x0 c* V6 W8 s' v- l7 Zq. Explain the implementation of fiscal policy and the difficulties of implementation
1 H) u1 [5 m er. Determine whether a fiscal policy is expansionary or contractionary
2 ]( {7 B2 M3 Y( u" s& [s. Explain the interaction of monetary and fiscal policy
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, w, J5 Y1 g1 b! q: @$ bExercise Problems：4 B* e/ b3 _3 j6 k
1. The monetary policy tools available to the Federal Reserve are least likely to include：9 U$ g5 P+ T6 n/ t* Q
A. Open market operations
; I5 k! d+ S6 V1 |5 ~- OB. The ability to determine the required reserve ratios of its member banks
- i7 b* V/ {* W" n( sC. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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答案和详解，登录后回复可见：
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# E# _4 E# K; D8 o0 Z% |2. The primary monetary policy goal of most major central banks is best characterized as：. F( d- z _: X
A. Containing inflation
* `$ G; u( L7 s% q7 _2 K P$ P% vB. Stimulating economic growth 2 t9 p- j) z3 Z6 l: U( P! s: I
C. Maintaining low interest rates % ^* [3 {% |* k. f6 \0 p
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
/ j7 [' f$ s) [, X8 bA. Increasing reserve requirements
5 S; T3 ^ M$ s$ QB. Selling securities on the open market 3 Q' l; ~# Q" m( }. D- ~; a) k
C. Purchasing securities on the open market
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( e% x) e8 p% Z t& | ]8 l4. 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：4 Q+ L, s# X3 ? N
A. Contract the economy by reducing bank reserves 5 [: Y5 ]; ]+ D$ h6 v
B. Expand the economy through a lower policy interest rate
% X* Q4 J& S% G7 U6 b3 K, w$ Y: }C. Contract the economy through a lower policy interest rate / t5 Z' i6 {; T) e& i/ t
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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：1 v4 Y; e0 a- e( i. [
A. increase . x( o0 \) z( f, Q# R
B. decrease
' x+ J; Q8 q& l9 [3 P0 z5 EC. 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