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、An analyst does research about real GDP.Holding all else constant, a decrease inwhich of the following is most likely to result in an increase in the quantity of realGDP demanded?【单选题】

A.Import.

B.Export.

C.Government expenditure.

正确答案:A

答案解析:真实GDP的需求主要是由消费、投资、政府支出和净出口（出口减去进口）组成，如果进口增加的话，会减少净出口，并会减少真实GDP。

2、An analyst does research about total, marginal and average product curve of labor.As more labor is hired, which of the following curves initially increases andthen decreases?【单选题】

A.The average product of labor curve, but not the total and marginal productof labor curve.

B.The marginal product of labor curve, but not the total and average productof labor curve.

C.Both the marginal product of labor and the average product of labor curve,but not the total product of labor curve.

正确答案:C

答案解析:当越来越多的工人被雇用时，劳动力的边际产出和平均产出起初都会上升，但到了高点之后都会曲线下降，同时边际产出会穿过平均产出的最高点。另外，虽然劳动力的边际产出最终会递减，但只要大于零，劳动力的总产出总是增加的。

3、A local laundry and dry cleaner collects the following data on its workforce productivity. Workers always work in teams of two, and the laundry earns $3.00 of revenue for each shirt laundered.

The marginal revenue product ($ per worker) for hiring the fifth and sixth workers is closest to:【单选题】

A.14.

B.21.

C.42.

正确答案:B

答案解析:“Demand and Supply Analysis: The Firm,” Gary L. Arbogast and Richard V. Eastin
2012 Modular Level I, Vol. 2, pp. 138, 144–145
Study Session 4-15-b, j, k
Calculate and interpret total, average, and marginal revenue.
Calculate and interpret total, marginal, and average product of labor.
Describe the phenomenon of diminishing marginal returns and calculate and interpret the profit-maximizing utilization level of an input.
B is correct. The marginal product (MP) is the amount of additional output resulting from using one more unit of input: ΔTP/ΔL, where ΔTP is the change in total product and ΔL is the change in total labor. The marginal revenue product (MRP) is the marginal product of an input times the price of the product: MP × Price = ΔTP/ΔL × Price.
In this problem, the marginal product of hiring the 5th and 6th workers (ΔL = 2) is 14 shirts per hour/2 workers = 7 shirts per hour/worker. With each shirt resulting in $3 of revenue, the MRP is 7 shirts per hour/worker × $3/shirt = $21 per worker.

4、Successful product development, advertising, and the creation of brand names are most likely to have a positive impact on the economic profits of the producer under:【单选题】

A.a monopoly.

B.perfect competition.

C.monopolistic competition.

正确答案:C

答案解析:“Monopolistic Competition and Oligopoly,” Michael Parkin
2011 Modular Level I, Vol. 2, pp. 228-233
Study Session 5-20-a, d
Describe the characteristics of monopolistic competition and an oligopoly.
Explain the importance of innovation, product development, advertising, and branding under monopolistic competition.
Product development, advertising, and the creation of brand names are most likely to have a positive impact on the economic profits of the producer under monopolistic competition. Under perfect competition, all producers (and all consumers) are price takers and economic profits do not exist. Under monopoly, product development, advertising, and the creation of brand names are of little consequence in determining
economic profits.

5、The diagram illustrates a consumer’s allocation of her budget between items X and Y. With an initial budget she consumes units of item Y. When the price of Y drops, she consumes units of item Y. Lines are parallel to one another.

The income effect arising from this change in the price of Y is best described as the distance between:【单选题】

A.

B.

C.

正确答案:B

答案解析:“Demand and Supply Analysis: Consumer Demand,” Richard V. Eastin and Gary L. Arbogast
2012 Modular Level I, Vol. 2, pp. 89–90
Study Session 4-14-b, e, f
Describe the use of indifference curves, opportunity sets, and budget constraints in decision making.
Compare substitution and income effects.
Distinguish between normal goods and inferior goods, and explain Giffen goods and Veblen goods in this context.
B is correct. When the price of Y falls, the budget constraint shifts outward from indicating an increase in the consumption of Y. Points a and b reflect the change in consumption of Y due solely to a decrease in price because reduces her income by a sufficient amount to return her to her original indifference curve. is the income effect (which is negative here) because this is an inferior good.