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本帖最后由 一起学CFA 于 2016-1-25 13:30 编辑 4 }9 b" Y/ I( q* a/ E# K) i
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CFA Level I：Economics - Aggregate output, price, and economic growth 精选题和学习要点
# K! r+ p5 w" x" F: J2 z" MLearning Outcome Statements (LOS)
& B& b& b0 F( i5 c5 c8 Ta Calculate and explain gross domestic product (GDP) using expenditure and income approaches;
( ]. z) ~9 s* Zb Compare the sum-of-value-added and value-of –final-output methods of calculating GDP;
* d. Y D- ^% G; g5 `& Bc Compare nominal and real GDP and calculate and interpret the GDP deflator; w: g i0 J9 t. p5 V2 _
d Compare GDP, national income, personal income, and personal disposable income;
4 n% _9 z8 @! O7 F1 q, h# B1 c- Ve Explain the fundamental relationship among saving, investment, the fiscal balance, and the trade balance; ; f- o# }% b8 B5 R! a6 D* R
f Explain the IS and LM curves and how they combine to generate the aggregate demand curve;
2 g/ V0 E9 C( N4 B+ Pg Explain the aggregate supply curve in the short run and long run; 7 z8 o5 |$ z; k* E+ u' @
h Explain the causes of movements along and shifts in aggregate demand and supply curves; " V( ?* d8 [1 L1 h2 S
i Describe how fluctuations in aggregate demand and aggregate supply cause short-run changes in the economy and the business cycle;
) u: y7 U$ p+ K& `7 t+ Oj Explain how a short run macroeconomic equilibrium may occur at a level above or below full employment; " z" X, a$ p! p9 S: r o
k Analyze the effect of combined changes in aggregate supply and demand on the economy;
8 }2 J% R3 e3 N' M6 |l Describe the sources, measurement, and sustainability of economic growth;
0 B+ K6 ~1 l" P4 Em Describe the production function approach to analyzing the sources of economic growth;( X: q" A$ [7 n2 p; w
n Distinguish between input growth and growth of total factor productivity as components of economic growth., d0 I: u( g/ G8 a
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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?
9 g( V1 z& C. A0 x5 t0 ~; ~| | 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 currency
7 Y( L/ b/ _* M2 U, v, U5 d登录回复后可见：答案和详解( Q0 B& G" i7 w3 J! @1 n
Answer：A, i8 _. p0 t2 l' C
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2. A recessionary gap is more likely to be observed when:9 S- H5 V O5 T& v3 W
A. Real GDP is above potential GDP
$ l4 _! W) X$ M7 o- u: YB. Real GDP is below potential GDP ( W/ w0 B9 B' y/ c' ~; y* N5 n
C. Employment is above full-employment equilibrium$ p; F6 |# w$ C6 E# s3 ~# M+ J
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3. Regarding a company’s production function, both labor costs and capital costs are best described as:
3 g, o+ [4 s7 m" XA. fixed in the long run
2 @& \$ p8 T* z: ^! f$ gB. variable in the long run
) i$ t$ A( M1 O, K- RC. variable in the short run ; }6 O c1 b0 p$ S$ S
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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:" v. V5 w+ M M2 v. q7 `4 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:
9 K2 P6 |# t/ z; }) {( G$ fA. 106.2 5 k3 X3 q( G; o9 J4 ~- X+ K
B. 106.8
. [5 ~+ {% a5 TC. 113.4 % f, }; r* q6 b! A
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5 Q8 L$ ~( V) n0 H$ x; b1 n: ~5. 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:
3 h0 }! |7 u; e2 U3 R0 I/ I6 nA. 1,000 - Q) i5 X) d% w
B. 1,163
/ i% o+ E) F3 K; s* kC. 7,143
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发表于 2016-1-25 13:27:44
发表于 2019-5-20 11:23:15
