CFA一級經濟學例題解析fiscal policy,market share

發布時間：2025-06-27 14:16編輯：融躍教育CFA

CFA一級經濟學例題解析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).

關聯考點：Fiscal Policy

易錯點分析：

A結構性預算赤字（structural budget deficit）又叫周期調整預算赤字（cyclically adjusted budget deficit），是充分就業水平下的赤字，經濟學家把其作為判斷當前政府財政政策的基準；B增加商業的資本支出，應該減少企業所得稅；C擴張性財政政策包括增加財政支出，減少政府收入，這會造成財政赤字的增加。

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

關聯考點：Firms and Market Structures

易錯點分析：

短期來看，小廠商降價的話，主導廠商能降得更多，因為具有成本優勢，而此時能夠在市場上盈利的小廠商將越來越少，一些小廠商將退出市場，因為他們不想以低于成本的價格出售，所以主導廠商的市場份額將增加。