CFA 2026 Level II Vignettes Economic Analysis Economic Growth Free Quiz 1

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CFA 2026 Level II Vignettes Economic Analysis Economic Growth Free Quiz 1

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CFA 2026 Level II Vignettes Economic Analysis Economic Growth Free Quiz 1

Practice CFA 2026 Level II Vignettes Economic Analysis MCQs from Economic Growth. Get instant results with Explanation.

General10 MCQs

1. Vignette 1: Growth Accounting & Solow Model - In the Solow growth model, what is the primary driver of sustained growth in output per capita?

A. Capital accumulation alone sustains long-run growthB. Technological progress is the key driver of sustained growthC. Population growth drives per capita growthD. Savings rate determines the long-run growth rate

2. In the Solow model, how does an increase in the savings rate affect the steady state?

A. The savings rate determines the steady-state growth rateB. Higher savings rate leads to lower steady-state capitalC. The savings rate determines the steady-state level of capital, not its growth rateD. The savings rate has no effect on the steady state

3. What is the Golden Rule savings rate in the Solow model?

A. The savings rate that maximizes steady-state consumption per capitaB. The savings rate that maximizes the growth rateC. The savings rate that minimizes the capital stockD. The savings rate that equals the population growth rate

4. What does the Solow residual represent?

A. The growth rate of capitalB. The growth rate of laborC. The growth rate of populationD. The growth in output not explained by capital and labor inputs (TFP)

5. How is growth accounting typically formulated?

A. ΔY/Y = ΔK/K + ΔL/LB. ΔY/Y = α·ΔK/K + (1-α)·ΔL/L + ΔA/AC. ΔY/Y = ΔA/A onlyD. ΔY/Y = ΔK/K - ΔL/L

General10 MCQs

6. Vignette 2: Growth Theories - What is a key difference between the Solow model and endogenous growth theory?

A. Growth is determined solely by population growthB. Technology is exogenous and cannot be influenced by policyC. Technology is endogenous and policy can affect long-run growthD. Capital accumulation is the only source of growth

7. What factors drive growth in endogenous growth models?

A. Human capital accumulation and knowledge spilloversB. Only physical capital accumulationC. Exogenous technological progressD. Population growth

8. What is the convergence hypothesis?

A. All countries grow at the same rateB. Richer countries grow faster than poorer onesC. Convergence is unconditional and always holdsD. Poorer countries tend to grow faster, conditional on structural characteristics

9. Why does endogenous growth theory predict that investment can sustain long-run growth?

A. Diminishing returns to capital always existB. Increasing returns and externalities can sustain growthC. Growth depends only on population growthD. Technology is fixed

10. What policies are associated with higher long-term economic growth?

A. High taxes and heavy regulationB. Restricting trade and foreign investmentC. Investment in education, infrastructure, and R&DD. High population growth

📋 CFA - Test Online Practice Quizzes

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Conducting Body: CFA Institute

Frequency: 4 times a year (February, May, August, November) | Time: 135 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 90 MCQs):

Alternative Investments: 8 MCQs
Corporate Issuers: 7 MCQs
Derivatives: 5 MCQs
Economics: 7 MCQs
Equity Investments: 12 MCQs
Ethics: 16 MCQs
Financial Statement Analysis: 11 MCQs
Fixed Income: 11 MCQs
Portfolio Management: 9 MCQs
Quant Methods: 6 MCQs

Merit Formula: -

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