CFA考試一級(jí)章節(jié)練習(xí)題精選0330-52(附詳解)

1、CFA考試一級(jí)章節(jié)練習(xí)題精選0330-52 （附詳解）1、In an economy, consumption is 70% of pre -tax income and the average tax rate is 25% of total income. If planned government expenditures are expected toincrease by $1.25 billion, the increase in total incomes and sp ending ($ in billions) is closest to:【單選題】A. $13B. $26C

2、. $42正確答案:C答案解析：“ Monetary and Fiscal Policy,” Andrew Clare, PhD and Ste phen Thomas, PhD2013 Modular Level I, Vol. 2, Reading 19, Section 3.2.2Study Session 5-19-o, qDescribe the tools of fiscal p olicy including their advantages and disadvantages.Expl ain the impi ementation of fiscal p olicy and

3、the difficulties of impi ementation.15 correct. The fiscal multiplier .swherecmarginl propensity to consume 二 consumption 十 disposable incomeTthe tax rateAssumi ng p re-tax income of $100 DispQsable incomeMarginal propensity to consume (c)The fiscal multiplier$100x(1-0,25) = $75$70 一 $75 二 0.9331 -r

4、 1 - (0.933 X (1 - 0.25) = 333With go ver nrnent exp en diture of $1.25 billion, total incomes and spending will rise by $1,25 billion X 333 = $4,2 billion.【單選題】1、 In competitive markets, when the efficient quantity is produced, the least likely result is to:A. maximize total surplus.B. generate und

5、er production.C. minimize deadweight loss.” Michael P arkin正確答案:B 答案解析：“ Efficiency and Equity, 2011 Modular Level I, Vol. 2, pp. 45 -46, 48-49Study Session 4-14-a, d, eExpl ain the various means of markets to allocate resources, describe marginal benefit and marginal cost, and demonstrate why the e

6、fficient quantity occurs when marginal benefit equals marginal cost.Discuss the relationshi p between consumer surpi us, p roducer surpi us, and equilibrium.Expl ain 1) how efficient markets ensure op timal resource utilization and 2) the obstacles to efficiency and the resulting under production or

7、 over production, including the conce pt of deadweight loss.When the efficient quantity is produced, total surplus (the sum of consumer surplus and producer surpius) is maximized. Deadweight loss reduces total surplus and occurs when there is either under production or over production, i.e. when the

8、 quantity p roduced differs from the efficient quantity. When the efficient quantity is p roduced, under production does not occur.1、Assume that an economy is composed of two products, X and Y, with the following details:卩 roductQuantityP roducedin 2012Quantity P roduced in2013Product UnitP rices in

9、 2012ProductUmitPnces in 2013X351 0352 013.313 eY179.0182.5unk ncwn11.1Assuming 2012 is the base year for measuring GDP and the GDP deflator for the economy in 2013 is 102.4, the unit price of 丫 in 2012 is closest to:【單選題】A. 10.8.B. 11.2.C. 11.5.正確答案:B5【單選題】(2)更為樂觀的商業(yè)預(yù)期；(3)消費(fèi)者預(yù)期未來(lái)的收入上升；(4)更高的產(chǎn)能利用率;(

10、5)擴(kuò)張性的財(cái)政政策；(6)擴(kuò)張性的貨幣政策;(7)貨幣的貶值。P roductQuantity P'lroducecl inZOlZQuantityProdu cedin 20 門(2)Prod uct UnitPrices in 2012P)P rodtict UnitPrices in 2013=P) > X351 0352.013313.84p57.6V179.0132.511.12p25.SMominal GDPin2013 iequals lhe sum of the last column:6p83.4= NomuialGD內(nèi)0 仔 xlOO /GDPdeflalo

11、f - 6£83.4 xl 00 /102.4 = 6722.1 RealGD巧013 =円篤01衛(wèi)渋6負(fù))13 +碼血乂總血36722.1 = (133x352.0) +3012 小刃伐6722.1 = 4例方十R如口其讓”答案解析：F邊=422014 CFA Level I "Aggregate Output, P rices, and Economic Growth," by P aul R. Kutasovic and Richard G. FritzSection 2.1.2 1、An analyst does research about aggreg

12、ate demand.Aggregate demand of a countrywill least likely increase following with:A. increase in consumer exp ectations of future income.B. increase in cap acity utilization.C. app reciation in the domestic currency.正確答案:C答案解析：本題考查的是使總需求(aggregate demand )向右平移的因素。這些因素包括：(1)消費(fèi)者財(cái)富的增加;1、Which of the following is most likely to cause the short -run aggregate supply shiftto the right