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本帖最后由 一起学CFA 于 2016-1-25 13:30 编辑
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CFA Level I：Economics - Aggregate output, price, and economic growth 精选题和学习要点$ B; F G# J( h. G6 A
Learning Outcome Statements (LOS) ! e) L2 l; z' l0 ~7 \
a Calculate and explain gross domestic product (GDP) using expenditure and income approaches; 3 \* C, k, a, A& |
b Compare the sum-of-value-added and value-of –final-output methods of calculating GDP; + N0 L7 A2 b0 i/ k2 Z
c Compare nominal and real GDP and calculate and interpret the GDP deflator; 1 K8 d. ^7 h& m* D/ g
d Compare GDP, national income, personal income, and personal disposable income;
7 t: B7 @2 T' t6 }( r% ze Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance; , T( C/ q8 b( O/ s
f Explain the IS and LM curves and how they combine to generate the aggregate demand curve;
; u) @; Z- Y- m6 D# R+ t3 T6 @& W+ ^g Explain the aggregate supply curve in the short run and long run; 8 S1 |' O+ o5 C, n7 |
h Explain the causes of movements along and shifts in aggregate demand and supply curves;
& D, f! e* j, V+ m4 Zi Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle; 8 _3 e' `8 A( N: y$ H
j Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment; - C: d4 \8 _, N( ^# T+ L
k Analyze the effect of combined changes in aggregate supply and demand on the economy;
2 z/ T" G! h9 K) Z3 Ll Describe the sources, measurement, and sustainability of economic growth;
6 B7 l+ f ]$ v' M# L7 zm Describe the production function approach to analyzing the sources of economic growth;
% H! M, c2 o* `! m( _3 [% f" Un Distinguish between input growth and growth of total factor productivity as components of economic growth.: B- S- M# n3 l1 {+ s8 ^
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1. In regard to the aggregate demand curve and an increase in one of its associated factors, which of the following relationships is least accurate?
m3 z( B1 w# B# H/ q+ g; t| | Increase in factor | Shifts the AD curve | Reason | | A | Stock prices | Rightward | Lower investment | | B | Consumer confidence | Rightward | Higher consumption | | C | Exchange rate* | Leftward | Lower exports and higher imports |
*Exchange rate is foreign currency per unit of domestic currency4 U) {! C# z, v. E
登录回复后可见：答案和详解
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2. A recessionary gap is more likely to be observed when:5 _" U! U4 Q, x/ ?" @5 w$ f
A. Real GDP is above potential GDP / ^! b6 V* z! ~' U1 f, l: l
B. Real GDP is below potential GDP ( f+ G# M) j+ O/ y
C. Employment is above full-employment equilibrium$ [# e' r3 e6 f. K
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! t7 {* f0 E8 n: J9 E# V- P& ]3. Regarding a company’s production function, both labor costs and capital costs are best described as:$ g+ z; L$ J$ D+ O. c+ Q( ^
A. fixed in the long run
' k7 P1 Q6 c$ V8 C; E5 s o! qB. variable in the long run
, Q% g; |4 |3 XC. variable in the short run
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4. The total output in units and average selling prices in a hypothetical economy producing only two products, X and Y, is provided below:8 q5 o1 r4 O- w, g( M
| | Product X | | Product Y | | Year | Output (units) | Selling Price/unit | Output (units) | Selling Price/unit | | 2010 | 2,800 | 9 | 2,000 | 47 | | 2011 | 3,000 | 11 | 1,800 | 52 |
If the implicit price deflator for GDP in 2010 was 100, for 2011 it is closest to:
6 F' x) v4 J* L- M1 H$ w7 a e5 pA. 106.2
7 H4 W& W5 g; Q3 YB. 106.8
. S( a: e: k2 T0 h) x$ aC. 113.4 ! n" e$ F; ]; v8 }1 [
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3 E9 @& P0 k7 f; q: c5. In a sample economy with no foreign sector, the following equations apply:
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| Consumption function | C=2,500+0.80(Y-T) | | Investment function | I=500+0.30Y-25r | | Government spending | G=1,000 | | Tax function | T=-250+0.30Y | | Y:Aggregate income | r : Real interest rate |
If the real interest rate is 3% and government spending increases to 2,000, the increase in aggregate income will be closest to:
$ W+ L2 [7 D L- ~/ R/ wA. 1,000 4 g# {* E* B0 ]9 V
B. 1,163
8 s7 [! c7 x8 H. U+ G7 D$ U/ TC. 7,143 * G P4 A" Q4 L, R
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发表于 2016-1-25 13:27:44
发表于 2019-5-20 11:23:15
