11. The value of money varies _____.
" w, c+ `& _3 y0 m8 O1 N, t A. directly with the unemployment rate
" n/ T6 w7 M& U9 d' r) Y( ?! k B. directly with the price level
- x3 \6 Y# A5 l% a7 c1 g C. inversely with the unemployment# X% j( G& ^* f, I8 s% Q5 @0 h/ ~
D. inversely with the price level* ?9 H% _- y9 a3 H6 Y# b
12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______.) u; @- |" N3 F' L
A. the dollar has depreciated relative to the yen
% e5 w( |% T8 A0 h B. the dollar can now purchase more yen/ g1 t# V3 I' I' ^- L% E
C. the yen can now purchase more dollars, C( i$ N/ d y, _) `# K3 ~
D. the US trade balance with the Japanese economy has improved
# B8 S' f6 E, Y# r4 ~2 _% F [ N 13. 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 ______.+ j4 l1 Z/ Q. p$ t
A. price feedback theory0 d5 m/ J9 s* r& M/ N
B. trade feedback theory
/ A# G( K% f8 P# J2 C9 | C. purchasing power parity theory
" E0 Q% u8 M6 q0 t( l8 P D. J-curve theory
1 s7 X5 r. c! o! Q& c 14. According to the optimal portfolio theory, where should portfolios lie? ______." U& o# v. v0 r2 c9 C0 K( d
A. On the efficient frontier" c8 [) w v6 T+ W
B. Above the efficient frontier
8 K$ i f3 F/ n( Z0 R- M) Q0 i C. Under the efficient frontier/ A1 }# }7 G' w j5 w1 f9 n3 K
D. Anywhere, as long as the portfolio is diversified8 b. e7 ^( G6 B. n) F$ G
15. Which of the following is not a user of management accounting information? ______.
8 f2 [) h. a# ?9 k. ]* b( o. k A. Store manager* F' K* E, G) G( u5 j
B. Creditor, b/ E* K/ R+ f, I" I/ O
C. CEO
2 l+ u- w* J, [ D. CFO/ ~9 Q, j" J" d' X6 l
16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______. u' F0 f J, d3 H' t. y6 @
Market Condition
+ X, ]" E/ @8 _+ E bear Normal Bull
% B- U& \7 ?; w! @ Probability 02 0.3 052 u- S) `# I/ s1 T0 K3 @; n8 z
Rate of return —25% 10% 24%
) I0 Q ^* W9 Q ? A. 4%
" N$ d d. d) ?' N& O( ~+ @& m B. 10%
! h' f% l/ |3 A) { C. 20%, U' V! B9 C8 } x- X w
D. 25%- a: }: _( ]1 a! s" z: `
Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent).2 q$ h3 j: _3 x" p% C9 M, K
Bear Market Normal Market Bull Market
8 B- x# F t" b; H2 l# X4 Y Probability 0.2 0.5 0.3
, x! I, o9 d+ P/ H Stock X_ -20% 18% 50%
! m# z9 t1 N7 [! h8 R Stock Y -15% 20% 10%
% `" Y1 P) q3 O( L$ N9 n- ~9 o 17. Financial markets serve to channel funds from ______.
$ Z4 P: U6 n' R; @ A. the government to contractors
% @3 P4 w. G2 [5 }3 t B. investors to consumers3 E! I) n6 ?4 `% C3 o; m5 C
C. consumers to producers
0 d9 _; X( h/ j& i* \# C9 w" T D. savers to investors% U. H2 Z; z9 g4 l6 ?4 x+ b0 W
18. The agreements that were reached at the Bretton Woods conference in 1944 established a system .
8 K# |3 L' H% W h; l* y, B 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
6 w$ i: F5 s7 x( H& r+ @0 z3 f B. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations9 Z6 g1 P0 t, M( Q
C. that prohibited governments from intervening in the foreign exchange markets M& a8 K, |' s/ [ t
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& _. a+ T$ b$ V* \9 y
19. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .- }# M! O( N! |, X
A. Assets are originally recorded in accounting records at their cost to the business entity1 J( h; `8 {: r: V; k: Z' g
B. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion9 J# ^& j" V0 H$ u3 }; x* E0 e1 G) ?
C. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market prices* ?, c" Q6 C& ~3 L5 R" F: e. o. I) _: Z
D. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions4 U/ J9 h. K, H9 @6 c2 q: y
20. A fiscal expansion in the UK ______ the pound sterling.! h ]0 q) o7 O% } P
A. tends to appreciate
. k6 D" \* ]7 M1 O) e8 ~ B. tends to depreciate. I5 B' G Y2 W: @. ^ ?/ _
C. does not affect the price of
8 L9 T, S+ t p* z6 L- x5 y D. has no predictable effect on the price of4 j- U" h3 I* k4 B
答案:% C" G0 z# v) d7 q/ i( B) l+ U
1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B
# F; B; x. m1 P/ ~ 11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A |