11. The value of money varies _____.- U) \! [8 \; M0 F Q. g
A. directly with the unemployment rate
" T4 \8 Q% X) g$ ~9 \, `B. directly with the price level a8 [: b/ k: I# ^
C. inversely with the unemployment
! [% y2 R# g, G. p# Y. ND. inversely with the price level/ F6 I% Y4 G" V0 o+ J+ k0 v
6 D# r M' u" k5 j, v$ Q12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______.( T' n: { C; c+ T# q4 \, C5 X9 y0 t
A. the dollar has depreciated relative to the yen( K1 H8 {8 i- r: A. q
B. the dollar can now purchase more yen
8 l( h) k+ z; H& Z5 |% [) |C. the yen can now purchase more dollars
) C) a8 ]7 P/ q T zD. the US trade balance with the Japanese economy has improved2 o7 ], J) g. c( |7 j
- D1 V" \6 N, t; ~# S! E13. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the ______.; e. h( u9 Z# C! m
A. price feedback theory
9 [0 ]; q+ X. m- a5 \B. trade feedback theory
, h* Q5 X, y4 t$ a/ ~4 i$ e. cC. purchasing power parity theory
9 A4 l; |# W4 JD. J-curve theory; M' z; B, }4 W0 R4 E
- W1 Z A2 y: J+ n } y! @; W14. According to the optimal portfolio theory, where should portfolios lie? ______.
! k, n f$ m1 kA. On the efficient frontier
8 o" z, t+ _; `" S/ m0 v7 WB. Above the efficient frontier0 p8 f/ w" q; e
C. Under the efficient frontier7 ` d; N% m( Z/ U6 v
D. Anywhere, as long as the portfolio is diversified
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15. Which of the following is not a user of management accounting information? ______.# [- A+ I( \; |& V; l& P, |
A. Store manager
4 }6 B8 [- \0 Q. i: ^8 oB. Creditor
1 z9 f. `' {1 J) h& NC. CEO 1 r. r: E+ x0 q- k
D. CFO
5 D3 P2 @* ` |" }$ Q' I* G7 C2 ]: s
2 v1 B' c* B7 G16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______.
, N0 F7 V# h4 w, w8 d# TMarket Condition6 R4 s. f! Q# r, f, S* k1 F
bear Normal Bull- f! F8 Z0 m( k' W
Probability 02 0.3 05
+ a) b( Q4 Y% G7 i8 ?4 eRate of return —25% 10% 24%
+ \" d5 V e4 K& {$ t0 T* \A. 4% + B4 f/ G: m) K8 ~- ~/ h
B. 10%/ \- m& d" F# q3 k' j
C. 20% ) p" j; p; a6 P" D
D. 25%
$ M' }/ \( H9 f5 d8 V
@5 a; s% A. R# S8 n7 [5 IUse the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent).2 h4 [' z0 p2 j# ^) ?' Q
Bear Market Normal Market Bull Market
7 c$ c6 B7 p7 N2 }) h1 N0 f5 I0 q. xProbability 0.2 0.5 0.3
+ |4 p7 W3 i2 t) e: Q0 i- XStock X_ -20% 18% 50%
: C3 v, l; R+ e7 F( ?5 Q6 k: lStock Y -15% 20% 10%
6 o* X- F+ b* _; L# D9 U7 Z- [! y4 Q4 L) C1 ?6 l* v0 p* h9 I* L
17. Financial markets serve to channel funds from ______.
( ~; D3 o! j2 }" Q0 J0 G B) zA. the government to contractors $ Z, T9 {! l1 Y# `6 G/ S0 l- X
B. investors to consumers
5 t, y, ^! J' N- x4 B( }* M ]% wC. consumers to producers 4 c) G9 O! c0 m/ P& |
D. savers to investors : w2 c1 v- b1 R4 W" g- D) y
( Q( S) N" w: c; _ Q, A
18. The agreements that were reached at the Bretton Woods conference in 1944 established a system .. \$ p* H7 e' R( v- o1 k# `& o! s
A. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency
# z+ j2 d0 d3 {. e$ n) a* rB. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations" f, w' Z( x3 h; F/ O) H
C. that prohibited governments from intervening in the foreign exchange markets
$ N- e; j2 Y: U! l& @D. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading
& V8 n& I' d- @; N' B9 y! R) C0 j/ \' Y% \% L- L; P! n
19. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .( A7 {: T2 n( I4 `: c$ M
A. Assets are originally recorded in accounting records at their cost to the business entity
2 D$ W; `. O. y( i/ D# l2 i8 xB. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion
' {8 l' \' ?, Z5 a$ P: BC. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market prices
+ _1 S) Q Q; ]9 c3 _, dD. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions
. ], B8 F; w- C0 V4 S0 }# Y7 ~0 l( t& n( A! m" P" t2 L
20. A fiscal expansion in the UK ______ the pound sterling.. }6 A) O* |5 {8 F' N
A. tends to appreciate
7 [/ z# ]! S- tB. tends to depreciate
2 I# _) v1 k8 D6 i1 s" H6 v* b SC. does not affect the price of 0 q1 c/ {& l8 ~8 Y5 A3 ]
D. has no predictable effect on the price of
8 l+ a2 h- E6 U; n8 j8 n
+ G' _. _1 Y/ c7 s% J: M答案:
" @- e* {' S/ m: V K1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B
. _+ B& I9 C- c1 B/ e: |1 W11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A
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