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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) G7 i* E: J! j# U- {
Which 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?" N" i' C/ H" q1 W% h
Most frequently used   Least likely expansionary/ \& e. j) B) o# N
A)    Open market operations Increasing the reserve requirement" f* @, ?0 ]: u$ ?5 P, v
B)   Open market operations Decreasing the discount rate
4 l) k7 x, d0 F% G- z5 QC)   Discount rate              Increasing the reserve requirement9 s3 W* b. b4 z# |/ @9 A
D)   Discount rate              Decreasing the discount rate
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Question 37
" Y+ Y* i" ?( y* r! V$ {0 |If a minimum wage is set above the equilibrium wage in the labor market, what is the most likely effect on labor supply?
! W% ?+ L  k7 K9 R( Y7 CA)    Firms will use less than the economically efficient amount of capital.+ D' M1 B( ?( ?4 g+ a% Y
B)   There will be excess demand for labor and unemployment will decrease.
0 o1 a8 \' D0 M  y( \' d! iC)   The minimum wage will have no effect on the equilibrium.% u) D! U3 t: T3 Y! X1 V
D)   There will be excess supply of labor and unemployment will increase.
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# c% o5 U, a9 J. M/ w8 D* V; lQuestion 384 r( \, w( N0 c' J" K
Which of the following statements about price takers and price searchers is most accurate?
* W8 E5 W% @1 N/ a1 xA)    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.9 c+ R- N" S/ R% o7 A
B)   Price takers maximize profits at the point price = marginal revenue = marginal cost.
8 O. B2 N2 q" M1 |5 O  ?C)   In the long run, both price takers and price searchers will have zero economic profits.
8 w- f. U1 R7 `+ X5 m0 P  BD)   The potential allocative inefficiency of a price searcher engaged in monopolistic competition includes the social cost of producing where price = marginal cost.8 Q/ v2 I( D# a$ _
  
+ C' o3 Z$ a3 _- B& yQuestion 39
" s" C/ R8 \5 DA generational imbalance is best described as:4 P" k8 n1 x0 {. i& V0 q6 V
A)    accounting for the taxes owed by and the benefits owed to each generation.
- j+ q, X  G, i' g7 QB)   the present value of future government deficits and how future generations deal with this problem.
& P8 ?6 y7 \* u/ U- ]1 nC)   a difference between the present value of government benefits promised to current taxpayers and the taxes paid by current taxpayers.: V' X/ X. G+ I( {
D)   one generation being promised more government benefits than another generation.
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) t9 j. m$ c& k/ D+ KQuestion 40, z; _" G  ]2 T8 W; [
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?
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, D- o, X; x1 _4 Y7 ]       Output      Price8 [/ M' y+ E: \, F. \4 g# J
A)    Increase       Decrease" x8 A) h1 R" R# Z0 M1 N& f; d! V# j$ o
B)   Increase       Increase
1 y0 {  h! J$ r) \9 [C)   Decrease     Increase7 W3 u: Z, o% M3 E3 x0 J3 G
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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