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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 market demand function for item X is a function of its price, household income, and the price of item Y.
Given the above elasticity coefficients for the two items, which of the following statements is most accurate?【单选题】
A.X and Y are substitutes.
B.Demand for X is elastic.
C.Item X is an inferior good.
正确答案:A
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 4.1, 4.3, 4.4
Study Session 4-13-l
Calculate and interpret price, income, and cross-price elasticities of demand and describe factors that affect each measure.
A is correct. The cross-price elasticity is positive, indicating that as the price of Y increases, more of X is demanded, making X and Y substitutes.
1、In regard to the aggregate demand curve and an increase in one of its associated factors, which of the following relationships is least accurate?【单选题】
A.
B.
C.
正确答案:A
答案解析:“Aggregate Output, Prices, and Economic Growth,” Paul R. Kutasovic and Richard G. Fritz
2012 Modular Level I, Vol. 2, pp. 247–254
Study Session 5-17-h
Describe the causes of shifts in and movements along aggregate demand and supply curves.
A is correct. If stock prices rise, the aggregate demand curve will shift to the right (increase in AD) because of higher consumption (wealth effect), not lower investments.
1、In an economy, consumption is 70% of pre-tax income and the average tax rate is 25% of total income. If planned government expenditures are expected to increase by $1.25 billion, the increase in total incomes and spending ($ in billions) is closest to:【单选题】
A.$1.3.
B.$2.6.
C.$4.2.
正确答案:C
答案解析:“Monetary and Fiscal Policy,” Andrew Clare, PhD and Stephen Thomas, PhD
2013 Modular Level I, Vol. 2, Reading 19, Section 3.2.2
Study Session 5-19-o, q
Describe the tools of fiscal policy including their advantages and disadvantages.
Explain the implementation of fiscal policy and the difficulties of implementation.
1、Which characteristic is a firm least likely to exhibit when it operates in a market with a downwardsloping demand curve, many competitors, and zero economic profits in the long run?【单选题】
A.Differentiated product
B.Low barriers to entry
C.No pricing power
正确答案:C
答案解析:The characteristics of monopolistic competition include a large number of competitors, low pricingpower, and the production of differentiated products (through advertising and other non-pricestrategies), but these still result in some pricing power. The ease of entry results in zero economicprofits in the long run.
CFA Level I
"The Firm and Market Structures," Richard G. Fritz and Michele Gambera
Sections 2.1, 2.2, 4
1、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。
What are the indices for a skewed distribution?:What are the indices for a skewed distribution?
What are the responsibilities of the members in reference to the CFA Institute?:Once accepted as a member:每年交述职报告和年费but must not over promise the competency and future investment results.Case
What members and candidates should notice in CFA examinations?:or security of the CFA examinations.(不能恶心CFA),考试不能作弊:考试内容要保密:A. No.:Responsibilities as a CFA Institute Member.right④Case
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