CFA一级经济学例题解析fiscal policy,market share

发布时间：2025-06-27 14:16编辑：融跃教育CFA

CFA一级经济学例题解析fiscal policy

Which statement regarding fiscal policy is most accurate?

A. Cyclically adjusted budget deficits are appropriate indicators of fiscal policy.

B. To raise business capital spending, personal income taxes should be reduced.

C. An increase in the budget surplus is associated with expansionary fiscal policy.

答案：A

解析：A is correct. Cyclically adjusted budget deficits are appropriate indicators of fiscal policy. These are defined as the deficit that would exist if the economy was at full employment (or full potential output).

关联考点：Fiscal Policy

易错点分析：

A结构性预算赤字（structural budget deficit）又叫周期调整预算赤字（cyclically adjusted budget deficit），是充分就业水平下的赤字，经济学家把其作为判断当前政府财政政策的基准；B增加商业的资本支出，应该减少企业所得税；C扩张性财政政策包括增加财政支出，减少政府收入，这会造成财政赤字的增加。

Aquarius, Inc. is the dominant company and the price leader in its market. One of the other companies in the market attempts to gain market share by undercutting the price set by Aquarius. The market share of Aquarius will most likely:

A increase.

B decrease.

C stay the same.

答案：A

解析：A is correct. As prices decrease,smaller companies will leave the market rather than sell below cost.The market share of Aquarius, the price leader,will increase

关联考点：Firms and Market Structures

易错点分析：

短期来看，小厂商降价的话，主导厂商能降得更多，因为具有成本优势，而此时能够在市场上盈利的小厂商将越来越少，一些小厂商将退出市场，因为他们不想以低于成本的价格出售，所以主导厂商的市场份额将增加。