cfa一级investmenttools∶economics∶macroeconomicanalysis(编辑修改稿)

cfa一级investmenttools∶economics∶macroeconomicanalysis(编辑修改稿)内容摘要：

ion ID: 20323 Which of the following statements about the Gross Domestic Product (GDP) is TRUE? The GDP: A. measures adverse environmental impacts. B. reflects a country’s standard of living. C. does NOT count the underground economyillegal activities and tax evasion. D. measures the changing quality of goods and services. C Other major limitations of GDP as a measure of economic activity include: GDP does not count nonmarket productionspecifically, homemaker services. GDP does not measure the value of leisure activities, the standard of living accounted for by a shorter workweek, and changing working conditions. GDP is not a measure of the welfare of a society or its people. A dollar spent on schooling is not the same as a dollar spent on alcohol. Question ID: 20320 Which of the following statements about gross domestic product (GDP) and gross national product (GNP) is TRUE? A. GNP is the measure of output that is produced domestically. B. GDP is GNP plus ine earned by citizens from their work and investments abroad, less the ine earned by foreigners from their work and investments within the country. C. GDP is designed to measure the market value of production that flows through a country’s economy. D. GNP differs from GDP in that GNP includes financial transactions and transfer payments. 11 C The definitions for GDP and GNP are reversed: GDP is the measure of output that is produced domestically。 GNP is GDP plus ine earned by citizens from their work and investments abroad, less the ine earned by foreigners from their work and investments within the country. Neither GDP nor GNP includes financial transactions or transfer payments as these items do not represent current production. Question ID: 12408 Which of the following statements regarding alternative measures of domestic output and ine is FALSE? A. Personal ine equals national ine minus corporate profits and social insurance taxes plus transfer payments, interest, and dividends. B. Disposable ine equals personal ine plus personal taxes. C. The gross national product contains the same ponents as the gross domestic product minus the ine of foreigners. D. The two ponents subtracted out of national ine are depreciation and indirect business taxes minus ine earned abroad. B Disposable ine equals personal ine minus personal taxes. Question ID: 20321 Which of the following statements defines Gross Domestic Product (GDP)? GDP is the total: A. ine received by the citizens of a country. B. ine payments to labor and capital in a country during the year. C. market value of all final goods produced by the citizens of a country. D. market value of all final goods produced within a country. D 12 GDP is the total market value of all final goods and services produced domestically during the year. GDP is designed to measure the market value of production that flows through the economy. Explanation for incorrect answers: “the market value of all final goods produced by the citizens of a country” defines Gross National Product (GNP). “ine payments to labor and capital during the year” defines National Ine (NI). “ine received by the citizens of a country” defines Personal Ine (PI). PI includes transfer payments, excluded from GDP, such as social security. : Preliminary Reading: Economic Fluctuations, Unemployment, and Inflation Question ID: 12414 Which of the following is defined as a period during which real GDP declines for two or more consecutive quarters. A. Recession. B. Recessionary trough. C. Depression. D. Boom. A A recessionary trough is a phase of the business cycle. Question ID: 12412 Which one of the following most accurately describes the normal sequence of a business cycle? A. Boom, contraction, expansion, recession. B. Expansion, contraction, recession, boom. C. Recession, contraction, expansion, boom. 13 D. Contraction, recession, expansion, boom. D The length of each phase, recent experience has shown that the contractionary periods ar being shorter, and the expansionary periods are being longer. A recession is defined as a period during which real GDP declines for two or more successive quarters. Question ID: 12416 Which of the following would NOT be counted as being part of the labor force? A. Someone who has quit his or her job and is looking for another one. B. Anyone over age 16, currently employed. C. Anyone over age of 16. D. Anyone over age 16, actively seeking employment. C The laborforce participation rate is the number of persons 16 or older who are either employed or actively seeking employment. The labor force does not consist of all people over 16 years of age. Question ID: 12418 Which of the following would NOT be considered as unemployed? A. A homemaker. B. Someone who had just left a job, and has not yet started his next job. C. A factory worker laid off due to a down turn in the economy. D. Someone who was terminated. A Workers who are not looking for employment are not considered to be unemployed. Question ID: 12424 14 Which type of unemployment is due to constant changes in the economy that prevent qualified workers from being immediately matched with existing job openings? A. Natural unemployment. B. Structural unemployment. C. Frictional unemployment. D. Cyclical unemployment. C By definition. Question ID: 12423 All of the following are types of unemployment EXCEPT: A. frictional B. seasonal C. structural D. cyclical B There are only three types of unemployment: frictional, cyclical, and structural. Frictional unemployment is due to constant changes in the economy that prevent qualified workers from being immediately matched with existing job o。