11. If a nation's interest rates are relatively low compared to those of other countries, then the exchange value of its currency will tend to ______ under a system of exchange rates.8 r$ W8 j6 a8 W1 P- q
A. appreciate... floating 5 t# A' c) ?/ ] I: T
B. depreciate...floating
! o) t7 D+ l, B5 ]C. appreciate... fixed
; ?- |. K& p6 R, ?3 SD. depreciate... fixed
6 J" w' q% l5 B4 c; s; b6 b. W+ A+ R
12. Which of the following is true of a company's balance sheet? ______.1 X1 @7 ?) j- M/ L
A. It displays sources and uses of cash for the period/ O/ X" a+ l- e8 \8 \
B. It is unnecessary if both an income statement and a statement of cash flows are available
& x8 `" P; r& k4 {" v& h/ `! z( AC. It is a separate representation of the company's revenue and expense transactions for the year
$ W) H6 [; t O- `$ P2 ?% Z% JD. It is an expansion of the basic accounting equation of Assets=Liabilities+Owner's Equity0 B8 T8 B* C0 y8 ^# d+ q2 T
- ?* s5 o ^; I# {; t: w6 q
13. When Americans or foreigners expect the return on dollar deposits to be high relative to the return on foreign deposits, there is a ______ demand for dollar deposits and a correspondingly ______ demand for foreign deposits.
7 i) k d% t2 T' ?; xA. higher... higher 9 T5 P& q+ i2 _! |, ~
B. lower... higher1 E" K) _7 C! M5 Q8 k. m
C. higher... lower # O1 W) ]7 T1 i' w
D. lower...lower. Y, E5 s( L6 i3 k' ~. ]
0 A) L+ X( X* I
14. Velocity is the ______.
' s$ i' o8 h) Z) _; }A. inverse of GNP
' q F! S F$ d6 k# PB. speed at which checking accounts are converted into cash" e; B: S$ }: I: L5 _) Y0 E# V
C. relationship between the price level and the money supply$ H$ ], @ Y, {' y; K9 O9 r! N
D. rate at which money turns over! k9 {) H q0 K* K) o2 ?+ W
6 t& g% O; A; E& L1 _! a% l15. Assume that of your $10 000 portfolio, you invest $9 000 in Stock X and $1 000 in Stock Y. What is the expected return on your portfolio? ______.
9 Q% G& z/ V: J" \9 R. Z, A7 TA. 18% 7 d9 u4 y7 _6 B& U* o( Q4 u3 W
B. 20%
" p2 ~6 f- {% m7 vC. 19%
( @/ [8 m7 L5 |4 Z- lD. 3%) I6 r, S. X+ B- ]6 ~* [9 W1 j
- b7 J( G* G# G6 a( {
16. Which of the following would you expect to find in a correctly prepared income statement? .! X( m2 h& d& m Q
A. Cash balance at the end of the period& g3 M \4 L1 x: n1 N0 K* w2 i& G
B. Expenses incurred during the period to earn revenues " h& B- y. x q: q+ z
C. Contributions by the owner during the period
3 k# e8 d, h6 p C) r% W4 J1 c$ [, xD. The reported company's financial position at a specific date# k6 `$ S T0 {$ R O
! K& L2 @4 b& e- ~8 ]9 @
17. The concept of beta is most closely associated with ______.
( H5 J" f% V5 j0 w7 a' M rA. correlation coefficient 1 L! J1 Z) A8 R' l9 w0 y
B. the capital asset pricing model/ E% T# @7 M9 {2 _
C. nonsystematic risk ' }7 n4 l/ ~' r; Y
D. mean-variance analysis/ D1 `9 N M2 x# n# w
8 x) L" m: x; y9 w! \5 |# P18. The velocity of money for a given year can be calculated by ______.
$ S0 W, ^* c1 a3 S; F" ?A. dividing GNP by the money supply + T5 L( m8 k2 N3 e& G+ F1 H5 W
B. dividing aggregate supply by aggregate demand
/ K2 a m! c2 G8 m% V+ n0 f9 EC. dividing the price level by the money supply
- i! {5 t8 s0 R$ G$ W7 ]4 dD. multiplying the price level by total output
! {: I8 {1 }' U+ Q% C
" d# V: }# R: \19. The theory of purchasing power parity states that exchange rates between any two currencies will adjust to reflect changes in ______.
* Q" w. q/ S& s# X4 IA. the price levels of the two countries 8 f: ~, b4 k- L
B. the current account balances of the two countries8 l( B6 K( }) _7 J
C. the fiscal policies of the two countries; y$ B9 E7 G( n2 a$ e
D. the trade balances of the two countries
; a$ i c7 ?. G
" v- |: b7 Y. T- r20. Before issuing a credit, it is important for the issuing bank ______.2 \3 } E5 [8 x6 ?# u! W6 A
A. to make certain of the importer's creditworthiness/ _& W4 p$ s. u; H# J0 d
B. to go through the contract terms
* J2 R8 P4 z. a2 k$ f$ jC. to have a thorough understanding of the exporter) z& R9 E/ h* L. g: W; y' }
D. all of the above
! G$ b; }, Q( D6 a; ]# Z2 s1 U答案:11.B 12.D 13.C 14.D 15.C 16.B 17.B 18.A 19.A 20.A ) ?& r B ?' L1 ?4 ]
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