Deficits and the Fiscal Stance：economy was at full employment or full potential output.

The Production Function and Potential GDP：labor:Two-factor production functionKdecline essentially to zero and there would be no long-term economic growth.result

Theories of the Business Cycle - Neoclassical and Austrian Schools：hand,every good at which supply equals demand.:schoolto do in the recession phase is to allow the necessary market adjustment to take place as quickly as possible.

Deficits and the National Debt：Budget;Government revenue includes tax revenues net of transfer payments;An increase in a budget surplus would be associated with contractionary fiscal policy:uses.

What are the responsibilities of the members in reference to the CFA Institute?：Once accepted as a member:每年交述職報(bào)告和年費(fèi)but must not over promise the competency and future investment results.Case

Why members and candidates must develop and maintain appropriate records?：actions,Cannot usehistoricalrecommendations or research reports created at the previous firm because the supporting documentation is unavailable. （不能使用以前的推薦或者研究報(bào)告,因?yàn)闆]有支持?jǐn)?shù)據(jù)）For future use,CFA

How to identifying the actual investment client and voting proxy policies?：管理個(gè)人資產(chǎn)→資產(chǎn)所有人就是客戶”管理信托資產(chǎn)→信托的最終受益人才是客戶。要求公司的養(yǎng)老金管理人使用萬(wàn)科的養(yǎng)老金收購(gòu)本公司股票，以資本增值為目的的買入行為是合理的。養(yǎng)老金管理人認(rèn)為萬(wàn)科未被低估,

What are the ethics and trust in the investment profession？：Global investment performance standards（GIPS）= 比例低，也并非所有的不道德都是違法君子有所不為的決策是更好的決策更符合stakeholder利益的決策

What's the meaning of “Additional compensation”?：their employer’s interest （該準(zhǔn)則約束的是,如果收取相關(guān)好處：會(huì)影響雇主利益的情況）unless they obtain written consent from all parties involve.，CFA

What's the meaning of independence and objectivity in professionalism?：or consideration that reasonably could be expected to compromise their own or another’s independence and objectivity.（那些被合理認(rèn)為將會(huì)影響?yīng)毩⒖陀^的威逼利誘都要不為所動(dòng)）,但在他人眼中會(huì)影響?yīng)毩⑿砸膊恍校┛赡艿脑捠孪扰督o雇主告訴雇主是為了引起雇主的同意

What's the meaning of “market manipulation”?：distort prices or artificially inflate trading volume （扭曲價(jià)格、虛增交易量）:with the intent tomisleadmarket participants. （目的是誤導(dǎo)投資者）:如果達(dá)到一定的交易量可以減少傭金如果這種利益歸屬于客戶且披露了沒有違反市場(chǎng)操縱準(zhǔn)則）

How to understand the Code of ethics and trust in the investment profession?：I,Professionalism:II:IIIIVVVIVIIResponsibilities as a CFA member or candidate