CFA Level 1 －模考试题(2)(PM) Q41-45

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Question 41

A country’s price level increases from 120 to 130 in Year 1. At the beginning of Year 2 the central bank announces its intention to keep inflation at the same rate as in Year 1. Decision makers in the economy find the policy announcement credible and reflect it in their inflation expectations. The price level increases from 130 to 140 in Year 2, which will most likely cause:

A) the unemployment rate to decrease.

B) actual inflation to equal expected inflation.

C) an unexpected increase in the real value of wages.

D) a shift in the position of the short-run Phillips curve.

Question 42

The type of economic market that features a large number of competitors offering differentiated products is best characterized as:

A) perfect competition.

B) oligopoly.

C) monopolistic competition.

D) monopoly.

Question 43

Which of the following statements about the money multiplier for a change in the monetary base is most accurate? The money multiplier:

A) becomes smaller when the required reserve ratio increases.

B) is the product of the required reserve ratio and currency as a percentage of deposits.

C) becomes larger when the currency drain increases.

D) is determined by the central bank.

Question 44

If the demand for physical capital increases, what is the effect on demand for financial capital?

A) Decrease, because a firm cannot add physical capital without reducing its financial capital.

B) No effect, because the two demands are not related.

C) Decrease, because financial capital is a substitute for physical capital.

D) Increase, because financial capital is needed to purchase the physical capital.

Question 45

When fiscal policy results in companies borrowing at higher interest rates and thus making fewer capital investments than they would have made at lower interest rates, this is most likely caused by:

A) the government running a surplus, which provides more liquidity to the capital markets.

B) deteriorating credit quality of firms borrowing money.

C) the government spending more, which reduces the overall money supply.

D) the government running a deficit, which increases the demand for loanable funds.

[此贴子已经被作者于2008-11-8 18:01:41编辑过]