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CFA考试一级章节练习题精选0331-53附详解）
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1、As a monetary policy tool, quantitative easing (QE) will most likely help revive an ailing economy in which of the following environments?【单选题】
A.Liquidity trap
B.Deflationary trap
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C.Declining bank rerves and economic activity地点的英文
正确答案:C
答案解析:“Monetary and Fiscal Policy,” Andrew Clare, PhD and Stephen Thomas, PhDC is correct. Quantitative easing (QE) is an “unconventional” approach to monetary policy and is operationally similar to open market purcha operations but
conducted on a much larger scale. The additional rerves created by central banks in a policy of quantitative easing can be ud to buy any ast. The idea was that this additional rerve would kick-start lending, causing broad money growth to expand, which would eventually lead to an increa in real economic activity.
2、A firm in a perfectly competitive environment has its total costs equal to total revenue and marginal costs greater than marginal revenue. Given this, which of the following strategies is most appropriate? The firm should:【单选题】
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A.shut down in the short run and exit in the long run.2010考研英语一真题
B.increa its level of production to enter profit territory.
C.decrea its level of production to enter profit territory.
正确答案:C
答案解析:“Demand and Supply Analysis: The Firm,” Gary L. Arbogast, CFA and Ric
hard V. EastinC is correct. A firm in a perfectly competitive environment with total costs equal to total revenue and marginal costs greater than marginal revenue is operating at the upper breakeven point. Therefore, it should decrea the level of production to enter profit territory.
3、An expansionary fiscal policy is least likely to include an increa in:【单选题】
A.budget deficit.
trashcanB.tax rates.
C.government expenditures.
正确答案:B
答案解析:An expansionary fiscal policy means that the government increas its purchas of goods and rvices and/or cuts tax rates to increa aggregate demand. Furthermore, an increa in the budget deficit would be associated with an expansionary fiscal policy.Sections 3.1.1–3.1.2
4、An analyst does rearch about price elasticity of demand and determines thatwhen the price of a product increas from $15 to $17, the quantity demandeddecreas from 51 units to 45 units.The product's price elasticity of demand isbest described as:【单选题】
A.inelastic.
B.unit elastic.
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C.elastic.
正确答案:B
答案解析:本题考查的是需求价格弹性（price elasticity of demand）的基本公式。只需要将数值代人以下公式即可。procal
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5、An analyst does rearch about foreign currency rate.In foreign exchange marketscharacterized by interest rate parity, if the domestic country has a lower risk-freeinterest rate than the foreign country, the currency of the domestic country ismost likely to be trading at a forward:【单选题】
