30. Tolliver’s statement regarding the yield curve is most likely:
A. correct.
B. incorrect with regard to fiscal policy.
C. incorrect with regard to monetary policy.
Answer = B
“Capital Market Expectations,” John P. Calverley, Alan M. Meder, Brian D. Singer, and Renato
Staub
2013 Modular Level III, Vol. 3, Reading 18, Section 4.1.5.4
Study Session 6–18–i
Evaluate 1) the shape of the yield curve as an economic predictor and 2) the relationship
between the yield curve and fiscal and monetary policy.
B is correct. A flat yield curve is consistent with tight monetary policy and loose fiscal policy
making. Tolliver’s statement is incorrect in regard to fiscal policy.
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