Portfolio Expected Return and Variance of Return：= 8112 = 9. Thus:RjB.C.FirstEXY = EXEY

Calculation of GDP – Expenditure Approach：+data sources. The difference is accounted for by a statistical discrepancy.

Monetary and Fiscal Policy：an economic environment where growth is stable and positive and inflation is stable and low.

Economic Growth and Sustainability：Economic,GrowthPerrate of economic growth is measured by the rate of increase in the economy’s productive capacity or potentialGDP.

Aggregate Output and Income：The aggregate:incomerentAggregate Expenditure

Fiscal Policy and Aggregate Demand：A primary aim for fiscal policy is to help:demand.Newoutputeconomy.adjustment of aggregate demand.

Deflation, Hyperinflation, and Disinflation：An extremely fast increase in aggregate price:level,year.,investmentthe rate of price increases accelerates.

Deficits and the National Debt：Budget;Government revenue includes tax revenues net of transfer payments;An increase in a budget surplus would be associated with contractionary fiscal policy:uses.

Contractionary and Expansionary Monetary Policies：Policies,monetary policy:central banks may increase liquidity by cutting their target rate.

Why members and candidates must develop and maintain appropriate records?：actions,Cannot usehistoricalrecommendations or research reports created at the previous firm because the supporting documentation is unavailable. （不能使用以前的推荐或者研究报告,因为没有支持数据）For future use,CFA

What should members and candidates do when communicating with client?：should notify clients that additional information and analyses are available upon request. （可以提供简易版报告:需要的话可以提供详细版）:Comment,Comment

What laws,rules, and regulations should be known by members and candidates?：rules，必须遵守直接相关的法律），but this may be advisable in some circumstances and required by law in others. （没有要求一定要将违法行为报告政府）也会被认为是参与违法行为）