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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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+ F5 ^: d6 H" z! C/ q2 w2 uCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点& c1 r4 H; p( L# B; S: V7 p; k5 S
Learning Outcome Statements (LOS)
2 O( X7 j1 D$ j5 a/ {; Da. Compare monetary and fiscal policy
- e! N) A5 T/ D8 z/ Y6 Y% Eb. Describe functions and definitions of money
( t; N- t8 i1 M6 I0 ^ U+ {. Fc. Explain the money creation process5 Q4 ^$ z) E- z' I: r2 g
d. Describe theories of the demand for and supply of money9 Y" u: N# H1 @ N/ B
e. Describe the Fisher effect
# k- C! L6 W: E* A$ b$ u* Pf. Describe the roles and objectives of central banks0 P2 {2 n+ P- m% @! V1 H" a: R
g. Contrast the costs of expected and unexpected5 c, u, K' q' w+ E; t- g
h. Describe the implementation of monetary policy
( e$ p# y0 @9 L/ m+ w) h1 Ki. Describe the qualities of effective central banks( l* \, A9 f: D5 P. T* P' \
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates) t( V: q6 j n2 H
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks2 g2 [0 r0 k& W
l. Determine whether a monetary policy is expansionary or contractionary
- \) p% q) c2 [" ~. j1 Sm. Describe the limitations of monetary policy9 U; d" [5 s' v0 i( p
n. Describe the roles and objectives of fiscal policy p A& p. p1 }6 ?* d
o. Describe the tools of fiscal policy, including their advantages and disadvantages
: \$ u* c# u% i- A' vp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)5 S5 s8 p/ Z6 c1 k, [8 h
q. Explain the implementation of fiscal policy and the difficulties of implementation
5 B$ p9 f9 c6 v/ Z/ b0 Fr. Determine whether a fiscal policy is expansionary or contractionary* H/ N2 @0 D% Y. z; }! z
s. Explain the interaction of monetary and fiscal policy
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, ?$ I# p" U! i: n! K& _Exercise Problems：
5 W1 ~* _/ U" g1 k2 C1. The monetary policy tools available to the Federal Reserve are least likely to include：9 C, n8 g( l0 q7 k! J2 y
A. Open market operations
0 X- @9 f7 R3 E* nB. The ability to determine the required reserve ratios of its member banks 1 |. I$ F2 y6 t# q, c8 R
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes - b0 n/ U C) `
2 Z* [ T4 B1 H! s+ g) J答案和详解，登录后回复可见：
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# h5 n4 ?& ~ Y0 h& q2. The primary monetary policy goal of most major central banks is best characterized as：1 A$ f) o+ U _9 i8 Y9 K0 D4 Z; K
A. Containing inflation 8 j7 t: G2 w% g3 R! q
B. Stimulating economic growth
9 y1 d5 k1 Z, B5 TC. Maintaining low interest rates / e2 P! @) V, K5 u2 u
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' x" U! s% ]( x( f/ R- v( X7 d% N3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? $ m8 \) Q" s, i
A. Increasing reserve requirements
4 Y0 m2 J6 q, m% HB. Selling securities on the open market - A1 G2 l+ u" i+ w7 `6 G0 D
C. Purchasing securities on the open market
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" X& n* [: O/ ~9 N' M. M2 s; m4. 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：$ d) _3 C8 `" x8 H$ _7 U
A. Contract the economy by reducing bank reserves
9 I- N( c( \! ?) ^& e# Q. I( RB. Expand the economy through a lower policy interest rate
" M, N% z* N0 H, JC. 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：' b2 }" H* E6 C- H0 j
A. increase
. L/ \/ |% o: X6 w8 Q _B. decrease
" w3 }, w" C% ~! s5 }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