2019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 following equations have been developed for a company:The profit maximizing output for this firm (in units) is closest to:【单选题】

A.7.

B.8.

C.11.

正确答案:A

答案解析:“The Firm and Market Structures,” Richard G. Fritz and Michele Gambera[1662201704061-image/0312.jpg]

2、Assume that the central bank reduces the reserve requirement. The most likely effect will be:【单选题】

A.an increase in the money multiplier.

B.a decrease in the money supply.

C.a decrease in new deposits.

正确答案:A

答案解析:Reducing the reserve requirement will increase the money supply, money multiplier, and new deposits. 2014 CFA Level ISection 2.1.2

3、Under conditions of perfect competition, in the long run companies will most likely earn:【单选题】

A.positive accounting profit and negative economic profit.

B.zero accounting profit and positive economic profit.

C.normal profit and zero economic profit.

正确答案:C

答案解析:In highly competitive market situations, companies tend to earn the normal profit level over time because the ease of market entry allows for other competing companies to compete away any economic profit over the long run. When accounting profit equals normal profit, economic profit is zero.Sections 2.1.1–2.1.2

4、The aggregate demand and supply functions for the local market for pizza, along with some relevantdata, is provided in the following table.The number of units of excess demand for pizza is closest to:【单选题】

A.2,358.

B.1,471.

C.2,072.

正确答案:A

答案解析:[1662201704111-image/398.jpg]

5、If a monopolistically competitive industry becomes perfectly competitive, eachfirm's long-run average total cost per unit sold will most likely:【单选题】

A.decrease.

B.remain the same.

C.increase.

正确答案:A

答案解析:当垄断竞争变为完全竞争后，由于产品没有差异化，竞争会加剧，导致产品价格下降，产量上升，长期的平均总成本下降。