24周年

财税实务 高薪就业 学历教育
APP下载
APP下载新用户扫码下载
立享专属优惠

安卓版本:8.7.30 苹果版本:8.7.30

开发者:北京正保会计科技有限公司

应用涉及权限:查看权限>

APP隐私政策:查看政策>

HD版本上线:点击下载>

"economics"exercise:Statement of currency characteristics

来源: 正保会计网校 编辑:小鞠橘桔 2020/12/01 10:16:54 字体:

学习是一个不断积累的过程,每天学习一点,每天进步一点!为了帮助大家更高效地备考2021年CFA考试,正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试,梦想成真!

Questions 1:

Which of the following statements regarding the characteristics of money is correct?

A 、Compared to a barter economy, an economy in which money is the medium of exchange has more prices.

B 、Money as a medium of exchange depends on shared beliefs about its value.

C 、Money’s low value relative to its weight enhances wealth portability.

Questions 2:

If a central bank reduces the money supply, this move will most likely lead to a:

A、 rise in nominal interest rates and a decline in aggregate price level.

B 、rise in nominal interest rates and a rise in aggregate price level.

C 、decline in nominal interest rates and a rise in aggregate price level.

View answer resolution

【Answer to question 1】B


【analysis】

B is correct. For money to serve as a medium of exchange, economic agents must have a shared belief in its value and that it will retain its value. Without such shared beliefs, money would not be able to fulfill its role as a store of value, thereby jeopardizing its status as a medium of exchange. 

A is incorrect because in its role as a unit of account, money drastically reduces the number of prices in an economy compared to a barter economy. In a barter economy, prices must be established for a good in terms of all other goods for which it might be exchanged. 

C is incorrect because a high value (rather than low value) relative to its weight is a characteristic of money that enables it to serve as a medium of exchange. Money’s high value relative to its weight offers the convenience of wealth portability in fulfilling a variety of transaction needs.

【Answer to question 2】A


【analysis】

A is correct. A reduction in the money supply (leftward shift) leads to an increase in nominal rates. Furthermore, on the basis of the quantity theory of money, a reduced money supply makes money more valuable (thus a higher interest rate), which reduces aggregate price levels. 

B is incorrect because a reduction in the money supply decreases, rather than increases, aggregate price levels. 

C is incorrect because a reduction in the money supply will increase, rather than decrease, nominal interest rates.

成功=时间+方法,自制力是这个等式的保障。世上无天才,高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩,其成绩背后无比寂寞的勤奋。小编相信,每天都在勤奋练习,即使是一点点的进步,大家一定可以成为人人称赞的“牛人”。

点击了解更多CFA考试资讯>>

免费试听

特许金融分析师限时免费资料

  • CFA报考指南

    CFA报考指南

  • CFA考试大纲

    CFA考试大纲

  • CFA历年

    CFA历年

  • CFA学习计划

    CFA学习计划

  • CFA思维导图

    CFA思维导图

  • CFA备考建议

    CFA备考建议

回到顶部
折叠
网站地图

Copyright © 2000 - www.chinaacc.com All Rights Reserved. 北京正保会计科技有限公司 版权所有

京B2-20200959 京ICP备20012371号-7 出版物经营许可证 京公网安备 11010802044457号

报考小助理

备考问题
扫码问老师