经济好，央行会加息，加息会导致远期利率上升，为什么加息会导致远期利率上升？那即期利率怎么变化呢？远期是长期利率的意思吗？我们这个指标本来不是研究10年期国债和隔夜的利率差吗？另外，为什么经济好，maturity spread 上升？

其他的指数难道不是由成分股决定的吗？这算是对冲基金指数的unique性质么？

老师你好，这页的最后一句话怎么理解？The non-accelerating inflation rate of unemployment (NAIRU)，（natural rate of unemployment (NARU)), can be higher than the rate associated with the absence of cyclical unemployment. 怎么翻译？如何理解？谢谢

05.单选题 收藏 标记 纠错 A “pay-as-you-go” rule, which requires that any tax cut or increase in entitlement spending be offset by an increase in other taxes or reduction in other entitlement spending, is an example of which fiscal policy stance? A Neutral. B Expansionary. C Contractionary. 查看解析 上一题 提交试卷 正确答案A 您的答案A本题平均正确率：57% Tools of fiscal policy 难度：一般 推荐：      答案解析 A “pay-as-you-go” rule is a neutral policy because any increases in spending or reductions in revenues would be offset. Accordingly, there would be no net impact on the budget deficit/surplus. 问：“pay-as-you-go”这个政策能不能举个具体事例，说说是怎么操作的？

04.单选题 已收藏 标记 纠错 The least likely goal of a government's fiscal policy is to: A redistribute income and wealth B influence aggregate national output C ensure the stability of the purchasing power of its currency 查看解析 上一题 下一题 正确答案C 您的答案C本题平均正确率：71% Tools of fiscal policy 难度：一般 推荐：      答案解析 Ensuring stable purchasing power is a goal of monetary rather than fiscal policy. Fiscal policy involves the use of government spending and tax revenue to affect the overall level of aggregate demand in an economy and hence the level of economic activity. 问：货币购买力是啥意思，如何和货币政策相关

03.单选题 已收藏 标记 纠错 The least likely explanation for why fiscal policy cannot stabilize aggregate demand completely is that A private sector behavior changes over time. B policy changes are implemented very quickly. C fiscal policy focuses more on inflation than on unemployment. 查看解析 上一题 下一题 正确答案B 您的答案B本题平均正确率：54% Tools of fiscal policy 难度：一般 推荐：      答案解析 Fiscal policy is subject to recognition, action, and impact lags. 问：C选项为什么是财政政策的缺陷之一？

老师，我想问一下，如果不用现金流折现求和公式去想的话，return被高估，应该是price也被同样高估呀？因为资产的收益越高的话，价格也高才对啊？有点想不通这个问题，麻烦您解答一下

题目数字给错了。

F/S=1+Rx/1+Ry rx是本国货币利率？ 那如果RMB/USD中，RMB是本国货币还是USD是本国货币？

04.单选题 已收藏 标记 纠错 Quantitative easing (QE), as a monetary policy tool, will most likely help revive an ailing economy in which of the following environments？ A Liquidity trap . B Declining bank reserves and economic activity . C Deflationary trap. 查看解析 上一题 下一题 正确答案B 您的答案A本题平均正确率：45% Limitations of monetary policy难度：一般 推荐：      答案解析 Quantitative easing (QE) is an “unconventional” approach to monetary policy and is operationally similar to open market purchase operations but conducted on a much larger scale. The additional reserves created by central banks in a policy of quantitative easing can be used to buy any asset. The idea was that this additional reserve would kick-start lending, causing broad money growth to expand, which would eventually lead to an increase in real economic activity. 问：B怎么翻译？C选项为什么不选？