This post lesson quiz is to help anchor what you have just learnt and to give you some practise. The questions may not be structured like the kind you are likely to get in the exam.
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Introduction to GDP
Which of the following is the LEAST accurate description of GDP?
Introduction to GDP
The nominal GDP and GDP deflator for an economy is as shown. Calculate the real GDP growth from 2016 to 2017.
2016 | 2017 | |
---|---|---|
Nominal GDP | $32B | $38B |
GDP Deflator | 133.4 | 137.1 |
Components of GDP
Data for Wonderland in 2018:
Account | Amount($B) |
---|---|
Net Exports | -42 |
Domestic Investments | 88 |
Consumption | 345 |
Government Spending | 72 |
National Income | 431 |
Given that there is no statistical discrepancy between the income and expenditure approach, the Capital Consumption Allowance for Wonderland is closest to:
Aggregate Demand and Aggregate Supply
Which of the following statements regarding Aggregate Supply curves is LEAST accurate?
Shifts in Aggregate Demand and Supply
A stronger domestic currency will LEAST likely:
Shifts in Aggregate Demand and Supply
Which of the following is LEAST likely to cause the SRAS to shift right?
Macroeconomic Equilibrium
An economist noticed that the economy is operating at less than full-employment GDP, but prices are going up. This is most indicative of a/an:
When SRAS increases and aggregate demand decreases simultaneously, the most likely outcome is:
Economic Growth and Sustainability
The labour force of Wonderland is expected to grow 3% per year for the long term, and labour productivity is expected to grow 4% per year. Physical capital is expected to grow 2% per year.
The long-term sustainable growth rate for Wonderland is closest to:
Economic Growth and Sustainability
For developed economies, the growth in _____________ is most likely the most significant contributor to GDP growth.
Why is the language of the Learning Outcome Statements (LOS) different from the curriculum?
The LOS are protected under the CFA Institute's copyright, and we don't have permission to duplicate them verbatim. Therefore, we've rephrased the LOS and included alphabetical labels (a, b, c, …) to simplify cross-referencing with the original LOS in the curriculum when needed.
Now available for all Level I topics! Try it now!
Enter a search term (e.g. ‘LIFO reserve’).
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Have you ever gotten stuck in your study because you can’t remember a formula, or what a specific term means? Now, say goodbye to scanning through all the videos and ploughing through pages and pages just to find what you are looking for. All the important formulas, definitions and diagrams you need for the exam are now at your fingertips at prepnuggets.com/glossary.
What’s more, these quick references are deeply integrated in our lessons, so you get a good idea of what the lesson covers even before watching the video. The references also point you to specific video lessons where it is covered, so you can quickly access the corresponding video to learn more about the term.
Available now for all Level I topics, this service is exclusive for our Premium and Pro members only. We will progressively add the rest of the topic areas over the next few months.
We think this is a game-changer for your CFA success!
Are you a CFA Level I candidate, or someone who is exploring taking the CFA exam? Four years ago, I was in your shoes. I am a Computer Engineering graduate and have been working as an engineer all my life. Having developed a keen interest in finance, I decided on a career switch to the finance field and enrolled into the CFA program at the same time.
Adjusting to the drastic career change was tough. I naturally neglected the preparation for my Level I exam in June 2014. It was not until the middle of March 2014 that I realized I only had a little more than 2 months to the exam. To compound my problems, I basically did not have a preparation strategy. Having no background in finance at all, I tried very hard to read the curriculum from cover to cover, but eventually that fell flat. I can still recall the number of times I dozed off while studying, or just going back and forth trying to understand even the simplest concept. My mind simply could not keep up after a hard day at work.
Does all these sound familiar to you? Well, take heart. No matter how bleak it seems, at least sit for the exam and treat it as a learning experience. That was basically my attitude as I burrowed through my exam prep with toil and stress. By God’s grace, I did pass my Level I exam in June 2014. It was an experience I would not want to revisit though.
For the Level II exam, I endeavoured not to repeat the mistakes I made. Based on the Pareto 80/20 principle, I learnt to extract the most essential bits from the curriculum enough to give me that 80% result to pass. Being a visual learner, I took notes and summaries in pictorial form. Instead of reserving huge segments of time to study, I carved out pockets of time to learn and practise – accommodating to my full-time job. I managed to pass my Level II and Level III exams consecutively with considerably less effort and stress than when I did my level I.
I love the CFA Program and truly value the skills and ethics that are imparted to make me a better finance professional. My desire is to help candidates who are keen to pursue this path to do so in the most effective and painless process as possible – based on the lessons that I learnt as a candidate. I have set up PrepNuggets with the vision to revolutionise learning by using technology, catering to the short attention span that we can afford. If this makes sense to you, join the PrepNuggets community by signing up for your free student account. I am confident that the materials that we have laboriously crafted will bring you closer to that dream pass with just that 20% effort. Let us do the hard work for you.
Regards,
Keith Tan, CFA
Founder and Chief Instructor
PrepNuggets
Keith is the founder and chief instructor of PrepNuggets. He has a wide range of interests in all things related to tech, from web development to e-learning, gadgets to apps. Keith loves exploring different cultures and the untouched gems around the world. He currently lives in Singapore but frequently travels to share his knowledge and expertise with others.