标题: Reading 23: Capital Market Expectations－LOS i [打印本页]
作者: tycoon 时间: 2008-9-12 15:10 标题: 2008] Session 6－Reading 23: Capital Market Expectations－LOS i
Session 6: Economic Concepts for Asset Valuation in Portfolio Management
Reading 23: Capital Market Expectations
LOS i: Evalute (1) the shape of the yield curve as an economic predictor and (2) the relationship between the yield curve and fiscal and monetary policy.
作者: tycoon 时间: 2008-9-12 15:11
Which of the following is consistent with a steeply upwardly sloping yield curve?
A) | Monetary policy is expansive and fiscal policy is expansive. |
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| B) | Monetary policy is restrictive and fiscal policy is restrictive. |
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| C) | Monetary policy is restrictive while fiscal policy is expansive. |
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| D) | Monetary policy is expansive while fiscal policy is restrictive. |
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Answer and Explanation
When both fiscal and monetary policies are expansive, the yield curve is sharply, upwardly sloping (i.e., short-term rates are lower than long-term rates), and the economy is likely to expand in the future.
作者: tycoon 时间: 2008-9-12 15:12
Which of the following is consistent with a flat yield curve?
| A) | Monetary policy is expansive and fiscal policy is expansive. |
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B) | Monetary policy is restrictive while fiscal policy is expansive. |
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| C) | Monetary policy is restrictive and fiscal policy is restrictive. |
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| D) | Monetary policy is expansive while fiscal policy is restrictive. |
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Answer and Explanation
If monetary policy is restrictive while fiscal policy is expansive, the yield curve will be flat.
作者: tycoon 时间: 2008-9-12 15:12
Which of the following is consistent with a likely weak economy in the future?
| A) | Monetary policy is expansive and fiscal policy is expansive. |
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| B) | Monetary policy is restrictive while fiscal policy is expansive. |
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| C) | Monetary policy is expansive while fiscal policy is restrictive. |
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D) | Monetary policy is restrictive and fiscal policy is restrictive. |
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Answer and Explanation
When both fiscal and monetary policies are restrictive, the yield curve is downward sloping (i.e., it is inverted as short-term rates are higher than long-term rates), and the economy is likely to contract in the future.
作者: zhouyp1982 时间: 2009-5-11 21:32
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