CFA Level 1經(jīng)濟(jì)學(xué)集訓(xùn)營(yíng)-結(jié)營(yíng)測(cè)試測(cè)試題含答案

CFALevel1經(jīng)濟(jì)學(xué)集訓(xùn)營(yíng)——結(jié)營(yíng)測(cè)試

1.Thefollowingdatawascollectedbyananalystforthegameindustrycomprisingofsixcompanies:

Thefour-firmHerfindahl-HirschmannIndexfortheindustryis:

A.0.810

B.0.830

C.0.292

2.Whichofthefollowingfactorsismostlikelytoleadtoeconomiesofscale?

A.Specializationbyworkers.

B.Duplicationofproductlines.

C.Supplyconstraints.

3.Whichofthefollowingstatementsisleastaccurate?

A.Fornormalgoods,incomeandsubstitutioneffectsareinthesamedirections.

B.Whenpricedecrease,bothVeblengoodsandGiffengoodswillhavealessdemand.

A.C.Forinferiorgoods,incomeeffectisgreaterthanthesubstitutioneffect.

4.Whichcharacteristicisafirmleastlikelytoexhibitwhenitoperatesinamarketwithadownwardslopingdemandcurve,manycompetitors,andzeroeconomicprofitsinthelongrun?

A.Nopricingpower

B.Lowbarrierstoentry

C.Differentiatedproduct

5.Operatingundertheperfectcompetition,thefirmwouldmostlikely:

A.Stayinthemarketinshortruniftheaveragerevenueislowerthanaveragevariablecost.

B.Stayinthemarketinshortrunifthemarginalrevenueishigherthanaveragevariablecost.

A.C.Shutdowninshortrunifthepriceislowerthanaveragetotalcost.

6.Thefollowingdataareforabasketofconsumptiongoodsusedtomeasuretherateofinflation:

Usingtheconsumptionbasketforthecurrentyear,thePaascheIndexisclosestto:

A.217

B.184

C.200

7.Fromthebeginningtotheendingyearsofadecade,theannualvalueoffinalgoodsandservicesforcountryXincreasedfrom€100billionto€300billion.Overthattimeperiod,theGDPdeflatorincreasedfrom111to200.Overthedecade,realGDPforcountryXincreasedbyapproximately:

A.50%.

B.67%.

C.200%.

8.Whichofthefollowingstatementsisthemostappropriatedescriptionofgrossdomesticproduct(GDP)?

A.Thetotalincomeearnedbyallhouseholds,firms,andthegovernmentwhosevaluecanbeverified.

B.Thetotalamountspentonallfinalgoodsandservicesproducedwithintheeconomyoveragiventimeperiod.

C.Thetotalmarketvalueofresalableandfinalgoodsandservicesproducedwithintheeconomyoveragiventimeperiod.

9.Whichcurverepresentscombinationsofincomeandtherealinterestrateatwhichplannedexpenditureequalsincome?

A.TheIScurve.

B.TheLMcurve.

C.Theaggregatedemandcurve.

10.Asthepriceleveldeclinesalongtheaggregatedemandcurve,theinterestrateismostlikelyto:

A.decline.

B.increase.

C.remainunchanged.

11.AccordingtotheexpenditureapproachandincomeapproachtocalculateGDP,thetradebalanceshouldequalize:

A.PrivateSaving–Investment+Governmentsurplus

B.PrivateSaving–Investment+Governmentdeficit

C.Investment–Privatesaving+governmentsurplus

12.Whichofthefollowingbestdescribestheaggregatesupplycurveintheshort-run(e.g.,1to2years)?Theshortrunaggregatesupplycurveis:

A.flatbecauseoutputismoreflexiblethanpricesintheshortrun.

B.verticalbecausewagesandotherinputpricesfullyadjusttothepricelevel

C.upwardslopingbecauseinputpricesdonotfullyadjusttothepricelevelintheshortrun.

13.hemostlikelyoutcomewhenbothaggregatesupplyandaggregatedemand

increaseis:

A.ariseininflation.

B.higheremployment.

C.anincreaseinnominalGDP.

14.WhichofthefollowingwouldleastlikelyoccurduetoanincreaseingrowthrateofpotentialGDP?

A)Monetarypolicywouldbeexpansionary.

B)Fiscalpolicywouldbeexpansionary.

C)Creditspreadsonfixedincomeinvestmentswiden.

15.Ifthespreadbetween10-yearUSTreasuryyieldsandthefederalfundsratenarrowsfrom200bpsto100bps,thisfactcouldbeusedas:

A)Leadingindicator.

B)Laggingindicator.

C)Coincidentindicator.

16.ChenisaChinesewhoworksintheUnitedstates,whileEdisonisanAmericanworksinChina,theincomeproducedbyChen&Edisonismostlikelytobeincludedin:

A.Chen：USA’sGDPEdison:China‘sGDP

B.Chen：China’sGDPEdison:USA‘sGDP

C.Chen：USA’sGDPEdison:China‘sGNP

17.whichofthefollowingmodelsoftradeincludelaborasakeyfactor?

A.RicardianModel

B.Heckscher-OhlinModel

C.Both

18.Whichofthefollowingdescriptionisleastlikelytobethecharacteristicsoftariff?

A.Atariffplacedonanimportedgoodincreasesthedomesticprice,decreasesthequantityimported,andincreasesthequantitysupplieddomestically.

B.Domesticgovernmentgainsbytheamountofthetariffrevenues.

C.Domesticproducerslose,foreignexportersgainfromtheimplementationofatariff

19.Salesandpurchasesofnon-produced,non-financialassetsareincludedinwhichofacountry’stradeaccounts?

A.Financialaccount.

B.Capitalaccount.

C.Currentaccount.

20.Whichofthefollowingorganizationshelp