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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 & R2 O1 v' Q* }/ _8 Q6 h
( w3 w; \, }8 rCFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
9 \5 F+ a) F: W) ^1 M; T. gLearning Outcome Statements (LOS) ; f/ B& l. X2 N0 y
a. Compare monetary and fiscal policy0 g) ~& R- q0 c9 O6 p
b. Describe functions and definitions of money; w, @ u2 k3 N$ a, t" a( s4 c
c. Explain the money creation process
: T' {0 z& a# O6 ]* z. ]d. Describe theories of the demand for and supply of money
+ z, @) Z' b1 {) e5 ge. Describe the Fisher effect
; c& w3 S1 \- c8 L3 b3 Df. Describe the roles and objectives of central banks K: X7 F/ V. C& L
g. Contrast the costs of expected and unexpected
1 x6 |8 E6 e6 ?h. Describe the implementation of monetary policy8 ]8 |& @) h1 W
i. Describe the qualities of effective central banks
8 N7 G/ n; G. I5 y wj. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates4 G/ {* v. t1 F. W* a0 _
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
, M1 ?7 j$ _8 U4 ?2 \) [l. Determine whether a monetary policy is expansionary or contractionary4 y7 F3 ?% J @3 D! ]
m. Describe the limitations of monetary policy
6 j* y9 t) V& {5 |7 G; dn. Describe the roles and objectives of fiscal policy3 m; N, }4 u/ _+ }3 D! j$ |
o. Describe the tools of fiscal policy, including their advantages and disadvantages
1 I. |" |' }2 w# v4 e2 I3 Yp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
( a Q B# i0 g6 r1 wq. Explain the implementation of fiscal policy and the difficulties of implementation' W+ K' ~& V" Y# h% K- c7 b
r. Determine whether a fiscal policy is expansionary or contractionary1 c4 g/ k+ F' ]7 B/ s
s. Explain the interaction of monetary and fiscal policy3 v( z" A. `- t/ T( j
3 V6 U8 @" r% K e8 O) ZExercise Problems：
! J7 E, Y6 r% A7 q( i3 @+ m1. The monetary policy tools available to the Federal Reserve are least likely to include：$ K" ^$ x1 M k
A. Open market operations : d+ w+ J9 c5 H7 P& u# C2 G
B. The ability to determine the required reserve ratios of its member banks
8 k7 \' ~8 p; {* T" N I* cC. Adjustments to the amount of gold held as reserves against Federal Reserve notes " @; r( x# |8 |6 u% C h8 [
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答案和详解，登录后回复可见：
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6 t6 F5 q5 N# d) p2. The primary monetary policy goal of most major central banks is best characterized as：
8 L& w: w+ N. _. g( u4 oA. Containing inflation
5 `6 ]$ G; s, u7 f) V+ I; ?B. Stimulating economic growth . R: w; a. `+ w" L0 I2 Y
C. Maintaining low interest rates % o* }, r$ x" N- k$ s0 I" O
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3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money?
3 q" r5 F: O9 p0 YA. Increasing reserve requirements
' _; J3 z n$ U. M" cB. Selling securities on the open market 5 U4 m; L$ N* A; W, O
C. Purchasing securities on the open market , Q; n& p: z6 I
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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：
+ C, ^+ L$ s- g) N; tA. Contract the economy by reducing bank reserves * S! a5 i0 l$ ]- V2 |7 C1 \/ r
B. Expand the economy through a lower policy interest rate
5 _7 E6 B$ a9 ^$ AC. Contract the economy through a lower policy interest rate
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7 C# r2 `- l& m4 d2 Y5 _' 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：9 i9 @6 g* T6 Y6 ] L* ~
A. increase
$ ]5 w7 D6 r$ s' W1 N7 S3 vB. decrease ' B* K' {8 B( e" s6 w2 k
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