2020年CFA考试《CFA一级》考试共240题，分为单选题。小编为您整理Economics5道练习题，附答案解析，供您备考练习。

1、The diagram to the right shows the domestic demand and supply curves for a country that imports a commodity, where PW is its world price and PT is its domestic price after the imposition of a tariff.
The reduction in the net national welfare of this country as a result of the tariff is best described by the area(s):
【单选题】

A.E.

B.G.

C.F+H.

正确答案:C

答案解析:“Demand and Supply Analysis: Introduction,” Richard V. Eastin and Gary L. Arbogast, CFA
2013 Modular Level I, Vol. 2, Reading 13, Sections 3.9, 3.10
“International Trade and Capital Flows,” Usha Nair-Reichert, PhD and Daniel Robert
Witschi, PhD, CFA
2013 Modular Level I, Vol. 2, Reading 20, Sections 3.1, Exhibit 12
Study Session 4–13–i, j, 6–20–e
Calculate and interpret consumer surplus, producer surplus, and total surplus.
Analyze the effects of government regulation and intervention on demand and supply.
Compare types of trade and capital restrictions and their economic implications.
C is correct. The loss in consumer surplus because of higher prices is represented by area E+F+G+H. This exceeds the gains from producer surplus (E) and government revenues on imports (G). Hence, the net welfare effect to the country is a deadweight loss of [e + f + g + h] – [E] – [G] = F+H.

2、The view that the money wage rates are sticky in the short-run is least likely held by which of the following schools of thought?【单选题】

A.Classical

B.Keynesian

C.Monetarist

正确答案:A

答案解析:“Aggregate Supply and Aggregate Demand,” Michael Parkin
2010 Modular Level I, Vol. 2, pp. 347-349
Study Session 5-23-d
Compare and contrast the classical, Keynesian, and monetarist schools of macroeconomics.
Classical economists believe the economy is self-regulating and that wage rates will correct quickly to changes in economic conditions. Both Keynesian and monetarist economists believe that wage rates are sticky in the short-run.

3、Land is best characterized as:【单选题】

A.having perfectly inelastic supply.

B.being a nonrenewable natural resource.

C.being priced according to the Hotelling principle.

正确答案:A

答案解析:“Markets for Factors of Production,” Michael Parkin
2011 Modular Level I, Vol. 2, pp. 288-290
Study Session 5-21-g
Differentiate between renewable and nonrenewable natural resources and describe the supply curve of each.
The supply of a given piece of land is perfectly inelastic because the quantity is fixed.

4、The quantity theory of money is best described as the proposition that, in the long run, an increase in the quantity of money brings a percentage increase in the price level that is:【单选题】

A.equal.

B.lower.

C.higher.

正确答案:A

答案解析:"Money, the Price Level, and Inflation” Michael Parkin
2010 Modular Level I, Vol. 2, p. 385-387
Study Session 6-24-i
Discuss the quantity theory of money and its relation to aggregate supply and aggregate demand.
The quantity theory of money is the proposition that in the long run, an increase in the quantity of money brings an equal percentage increase in the price level.

5、Benjamin Franklin, CFA, does research about consumer surplus and producersurplus.The deadweight loss from a perfectly competitive market is most likely:【单选题】

A.greater than the deadweight loss of a monopoly market.

B.less than the deadweight loss of a monopoly market.

C.equal to the deadweight loss of a monopoly market.

正确答案:B

答案解析:垄断市场会导致生产量减少，价格提高，造成过少生产，与完全竞争市场相比存在更多的无谓损失。