掃碼下載APP
及時接收最新考試資訊及
備考信息
學習是一個不斷積累的過程,每天學習一點,每天進步一點!為了幫助大家更高效地備考2021年CFA考試,正保會計網校每日為大家上新CFA習題供大家練習。讓網校與您一起高效備考2021年CFA考試,夢想成真!
Questions 1:
The transmission of a central bank’s policy rate action through the economy ultimately affects:
A 、total demand.
B、 inflation.
C 、long-term interest rates.
Questions 2:
If there is a policy rate of 3%, a real trend rate of growth in the underlying economy of 1%, and long-runexpected inflation of 3%, then the central bank policy stance operating within a credible inflation-targeting regime is best described as:
A、 neutral.
B 、contractionary.
C 、expansionary.
B is correct. The monetary transmission mechanism is the process whereby a central bank’s interest rate gets transmitted through the economy and ultimately affects the rate of increase of prices (inflation).
A is incorrect because, although policy rate actions do transmit through the economy by affecting total demand, this influence on total demand is an intermediate effect that drives subsequent domestic inflationary pressure. In effect, policy rate actions ultimately impact inflation through the avenue of total demand.
C is incorrect because although policy rate actions do transmit through the economy through the channel of market rates (both short-term and long-term interest rates), this is just one of four channels and multiple interconnected channel relationships that impacts total demand. In effect, policy rate actions ultimately impact inflation through the channel of market interest rates (including long-term interest rates)
C is correct. A real trend rate of growth of 1%, coupled with 3% long-run expected inflation, suggests a 4% neutral rate of interest that neither spurs on nor slows down the underlying economy. The 3% policy rate is less than the 4% neutral rate of interest. When the policy rate is below the neutral rate, monetary policy is described as expansionary.
A is incorrect because, with a neutral policy stance, the central bank’s policy rate would be equal to the neutral rate. In this case, the policy rate of 3% is less than the neutral rate of 4% (1% trend growth plus 3% long-run inflation expectation), which is expansionary (not neutral).
B is incorrect because, with a contractionary policy stance, the central bank’s policy rate would be greater than the neutral rate. In this case, the policy rate of 3% is less than the neutral rate of 4% (1% trend growth plus 3% long-run inflation expectation), which is expansionary (not contractionary)
成功=時間+方法,自制力是這個等式的保障。世上無天才,高手都是來自刻苦的練習。而人們經常只看到“牛人”閃耀的成績,其成績背后無比寂寞的勤奮。小編相信,每天都在勤奮練習,即使是一點點的進步,大家一定可以成為人人稱贊的“牛人”。
Copyright © 2000 - www.electedteal.com All Rights Reserved. 北京正保會計科技有限公司 版權所有
京B2-20200959 京ICP備20012371號-7 出版物經營許可證 京公網安備 11010802044457號
套餐D大額券
¥
去使用 主站蜘蛛池模板: 亚洲视频在线观看免费 | 亚洲国产一区二区在线 | 国产综合亚洲精品一区二 | 黄色网页在线看 | 国产精品视频不卡 | 欧美成年网站 | 天堂av一区二区 | 欧美在线免费 | 久久99精品久久久久久秒播放器 | 精品人成| 成人精品一区二区三区校园激情 | 国产精品久久久久久久久久东京 | 久久久久久国产精品久久 | 成人午夜激情 | 欧美亚洲三级 | 日韩福利 | 精品欧美一区二区三区 | 人人九九| 91av电影网 | 国产精选视频 | 99re在线 | 日韩欧美综合在线视频 | 国产精品区一区二区三区 | 综合99| 国产精品久久久av | 91久久国产综合久久91精品网站 | 国产一区二区精品在线 | 黄色av免费在线观看 | 日韩三级一区 | 亚洲免费精品 | 91九色网 | 成人欧美一区二区三区黑人孕妇 | 亚洲国产精品久久久久 | 一区免费在线 | 久久久久久久国产精品 | 一区二区亚洲视频 | 美女搞黄网站 | 午夜网址 | 日韩欧美二区 | 久久性片 | 在线免费看黄网站 |