CFA考试一级章节练习题精选0330-39(附详解)

CFA考试一级章节练习题精选0330-39（附详解）
1、A country implements policies that are expected to increase taxes by €100 million, increase government spending by €50 mill ion, and reduce investments and private sector savings by €25 million each. As a result, the country’s current account balance will most likely:【单选题】
A.increase by €50 million.
B.decrease by €50 million.
C.increase by €100 million.
正确答案:A
答案解析:“International Trade and Capital Flows,” Usha Nair-Reichert, PhD and Daniel Robert Witschi, PhD, CFA
2013 Modular Level 1, Vol. 2, Reading 20, Section 4.4, formula (7)
Study Session 6-20-g, h
Describe the balance of payments accounts including their components.
Explain how decisions by consumers, firms, and governments affect the balance of payments.
A is correct.
CA = Current account balance
I = Investments
T = Taxes
G = Government spending
R = Transfers
ΔCA = –25 – (–25) + (100 – 50 – 0) = 50.
1、If a central bank reduces the money supply, this move will most likely lead to a:【单选题】
A.rise in nominal interest rates and a decline in aggregate price level.
B.decline in nominal interest rates and a rise in aggregate price level.
C.rise in nominal interest rates and a rise in aggregate price level.
正确答案:A
答案解析:A reduction in the money supply (leftward shift) leads to an increase in nominal rates. Furthermore, on the basis of the quantity theory of money, a reduced money supply makes money more valuable (thus a higher interest rate), which reduces aggregate price levels.
2014 CFA Level I
"Monetary and Fiscal Policy," by Andrew Clare and Stephen Thomas
Sections 2.1.6
1、An analyst does research about demand for labor.All else remaining the same, afirm's demand curve for labor will least likely shift in response to a changein the:【单选题】
A.wage rate of labor.
B.price of the firm's output.。