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[Level 1] CFA Level 1 - 模考试题(1)(PM) Q36-40

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发表于 2015-7-15 09:08:22 | 显示全部楼层 |阅读模式
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Question 36
4 L3 Z5 l& ^+ m( AWhich of the following actions by the Federal Reserve is the most frequently used and which action would least likely be used for expansionary monetary policy?) G; n% J6 |7 E9 m" T
Most frequently used   Least likely expansionary
! X1 P, E- j6 X0 C# G! d% bA)    Open market operations Increasing the reserve requirement- e6 b: y( ?6 V% x
B)   Open market operations Decreasing the discount rate$ I- M! O/ U. r+ u+ g# S
C)   Discount rate              Increasing the reserve requirement
- w  \- G. Y. h- h0 u: N4 TD)   Discount rate              Decreasing the discount rate& q! |% h. o/ }+ ~

; E; B2 ^& `( [1 e$ QQuestion 37( d. h& w4 \7 r' B1 C: l
If a minimum wage is set above the equilibrium wage in the labor market, what is the most likely effect on labor supply?
$ w* G. }& ?; {A)    Firms will use less than the economically efficient amount of capital.+ k, n- P# F8 _* e9 {2 }* @
B)   There will be excess demand for labor and unemployment will decrease.
0 y$ F9 L5 L+ z  G+ I# U% ]C)   The minimum wage will have no effect on the equilibrium.
4 z4 O( ~) b) E) X8 O3 ^) Z2 XD)   There will be excess supply of labor and unemployment will increase.
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Question 38
- u5 D6 H' [2 z6 P  [# g- I7 s+ P) P; qWhich of the following statements about price takers and price searchers is most accurate?0 ~( K9 @7 O; `9 ^
A)    In the long run, both price takers and price searchers maximize profits at the quantity corresponding to the minimum point on the average total cost curve.! ^7 A1 E# }; K" i
B)   Price takers maximize profits at the point price = marginal revenue = marginal cost.
& i) k( s. d. m  R6 ~$ ^- \, Y. rC)   In the long run, both price takers and price searchers will have zero economic profits.
$ q8 Q; j2 W( G5 Q  kD)   The potential allocative inefficiency of a price searcher engaged in monopolistic competition includes the social cost of producing where price = marginal cost.
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+ L$ r9 W# f! G; Q& q1 hQuestion 390 f& M, @7 \* s; W; n$ W
A generational imbalance is best described as:
4 p$ j/ u$ X/ d/ w  ~! ~* HA)    accounting for the taxes owed by and the benefits owed to each generation.; p' G) `6 n6 y" S
B)   the present value of future government deficits and how future generations deal with this problem.
5 J6 n4 E9 v5 ^, fC)   a difference between the present value of government benefits promised to current taxpayers and the taxes paid by current taxpayers.9 s1 s; ]$ m  g/ B1 u. }: k+ z
D)   one generation being promised more government benefits than another generation.
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. Z4 k' p* u; M/ vQuestion 409 C7 F0 q" O3 I: q4 P6 M/ D% B. X
If the government regulates a natural monopoly and enforces an average cost pricing, what are the effects on output quantity and price compared to an unregulated natural monopoly?& ?& l3 X: i4 _5 V! D- A( L! A2 {; E
  
6 R! x# `! U9 U" l       Output      Price
9 f$ `' y, X/ l! h) qA)    Increase       Decrease( ]5 v0 X+ q4 ?1 M, O6 ^1 {
B)   Increase       Increase' i6 @6 R  l% ?9 Z4 _( E  ?
C)   Decrease     Increase! O8 L! k3 c! ~
D)   Decrease     Decrease
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 楼主| 发表于 2015-7-15 09:10:51 | 显示全部楼层
答案和详解如下!
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发表于 2015-7-20 05:21:02 | 显示全部楼层
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