1. In general, the more liquid an asset the ______.# t2 J0 X$ r5 E0 u
A. less it is likely to yield: {' {1 P( P* B/ H% ?
B. greater its risk of default d! {( r; \- A( M& }- w2 `4 Y1 m
C. lower its market price will be6 r2 @) w" g3 K6 X$ ]. }
D. more it will add to bank profits
) N' g' b6 s1 ~5 }% |) }9 }. r6 k2. The interest rate printed on the face of a bond is called the ______.
* s) t4 i2 ]3 a, s: A M; mA. coupon rate
; V2 g' D1 v# u+ S) k+ Q6 XB. prime rate3 g0 k1 X9 g5 G% E% ?! k
C. printed rate/ Z9 I3 R" v o' y- e
D. nominal rate$ U5 @( v) z% z6 S
3. A rise in interest rates leads to ______.5 X0 K4 n" H: ?$ y5 E
A. capital gains for bondholders$ ~% ^$ p& b/ b& V
B. capital losses for bondholders
. w5 h: p2 {4 lC. income gains for bondholders/ G* A0 [. `8 q# S7 n0 F& r9 H
D. income losses for bondholders
5 p8 ]/ W- {+ o& h" V/ Y4. If the reserve requirement ratio were equal to zero, then ______.* \* u0 P% ^+ q' [) o
A. the deposit multiplier would be infinitely large7 _" K5 Z. t# b5 V% E# c
B. required reserves would be equal to zero6 e7 {* V& @+ c* e9 t5 S
C. the banking system would theoretically be able to create an infinitely large amount of demand deposits( X5 I6 O) S9 U, V
D. all of the above
, z* |1 v4 S6 B) A9 q, X3 ^ Y" c. T5. Financial intermediaries’ primary function in financial markets is to serve as ______.5 W' G9 L( E! V1 s8 X0 k
A. ultimate borrowers+ t! z' c& }8 ]. n; l. ~4 t
B. ultimate lenders
: _3 z# ^- `* N; O9 QC. ultimate savers8 v, b( K5 y6 Y7 S$ R& N2 h" O
D. middlemen" }# d' D0 S) i. s; k% Y
6. Suppose the Fed buys $10 million in government securities from a commercial bank. If the required reserve ratio is 0.25, what is the maximum amount by which checkable deposits in the banking system can change? ______.
) @. K1 Y% T" @4 o6 w3 AA. +$10000000. M, q9 V; k: Z+ u* b- y3 s% n( {
B. +$25000000
& K" J0 Y0 Z2 Q. }C. +$40000000+ `# R0 G2 c& J5 K4 e
D. -$40000000/ `) K5 a" w8 x; J
7. Suppose the annualized yield on a 91-day Treasury bill is 1.25%. If you invested $10 000 in this bill, how much would you have to pay for this security? ______.
& L& ^% Q% q j- y# A$ sA. $11.250- g* F' I6 ?" \
B. $10012.503 w! G3 E/ v* r. i5 r, K& O8 X
C. $9998.75+ e2 }& z r; c# D) B
D. $9968.93' A% Q M0 I# m4 \# ~, f: ^/ n- p0 d
8. Who are the first to bear financial losses incurred by the bank? ______.
~/ S2 a" i K2 ^- P1 rA. The depositors
# F; R- ]* Y+ v) v' TB. The debtors( x* |1 A4 Y( e y9 E! ]8 | l/ q
C. The bank capital shareholders
# ? E; C: p& Q, ZD. The bank employees
Z2 i# L3 Y$ p- A/ ?9. A government is faced with a balance of payments deficit. It may take action to deal with this by doing all of the following except ______.
) F+ z( Y0 f! J+ ]A. devalue the currency% a, Z+ X$ X7 `' c/ ~ p
B. reduce interest rates# r8 ]# x! B- v X6 B- T. w0 _2 s! N
C. restrict consumer spending) b# {- c: q% x8 g* ?5 D$ Y! }
D. restrict imports ; H* l6 A5 N( e9 V$ H
0 U5 C" r- e& e) W3 e- d" @
10. According to the principle of comparative advantage, countries ______.
" A9 N1 P' o; ^* l8 C" i! ^- k9 sA. should specialize in producing goods they have lower opportunity cost for
# m7 E* z3 v$ V) v) S( B& bB. should export goods they can produce at lower input costs
9 [2 _0 j* q4 R& T+ b QC. will specialize in producing goods which they can produce at lower input costs, Z6 J9 P( T; c5 x" n2 {
D. should specialize in producing goods they have lower absolute costs for
$ a& ]% v2 i# |1 p+ L7 r11. A currency depreciation on the foreign exchange market will ______.
% C( E1 Q9 d0 |3 t# a" d9 W$ CA. encourage imports to the country whose currency has depreciated
' J Q% L l! Y# mB. discourage imports to the country whose currency has depreciated2 d7 Z: A2 N9 y9 |5 L7 V: e' G
C. discourage exports to the country whose currency has depreciated5 }6 W1 c$ J$ A) W% E( ~
D. encourage foreign travel by the citizens of the country whose currency has depreciated: J' G% B# }- M' i
12. The difference between fiscal policy and monetary policy is that ______.
, v& ^8 X# J- @$ mA. fiscal policy is macroeconomic policy and monetary policy is microeconomic policy3 d! ?/ _! t6 q
B. monetary policy is macroeconomic policy and fiscal policy is microeconomic policy, }) ]3 c9 q2 K* {" R5 ^
C. fiscal policy involves regulation of natural monopolies and monetary policy involves the provision of public goods+ J# H& Z: G- Y: x% T5 n$ F' v
D. monetary policy involves regulation of the money supply and fiscal policy involves government spending and taxing G0 y) j2 b+ Q8 v& h. A* z
13. When economists speak of the utility of a certain good, they are referring to ______.. w: ^ b, E' b! F& v# I1 C
A. the demand for the good
2 d" W0 B( ~" ~1 A9 [) F( xB. the usefulness of the good in consumption; n' K/ U9 M4 Y( W
C. the satisfaction gained from consuming the good4 W. |7 J+ Z7 [. u' r" b
D. the rate at which consumers are willing to exchange one good for another
! p' s" g8 G- ~) [* P7 c14. How are financial ratios used in decision making? ______.8 T6 M' t8 N$ |) X" x
A. They remove the uncertainty of the business environment
, X' S h3 w3 B/ |B. They give clear signals about the appropriate action to take
, K/ i* s2 Z/ u3 sC. They can help identify the reasons for success and failure in business, but decision making requires information beyond the ratios
, B$ u% A7 q/ @" ~# L8 WD. They aren’t useful because decision making is too complex.4 I7 D. }+ n7 V# d, _7 Y
15. A good is called an inferior good if sales ______.! K# O) z8 k/ W8 j6 g3 q. {
A. are unaffected by income
2 X# j4 \ @3 j* O ~8 \B. rise as price increases% P0 G( J/ h% h0 q, L0 ]
C. decline as price increases
p3 e4 ^( C$ Z! \- zD. decline as income increases" H6 W0 W% c4 I+ |! x& I
) a% `! u/ }: m& Z+ Z$ i16. Interest rates are made up of ______.
4 d" Q+ G9 S% h3 M% [6 XA. the real rate and the inflation premium
9 q8 J/ w6 u3 K6 t( {B. the risk-free rate and the period rate
0 m4 ^2 g* K, _, C( oC. the risk premium |
发表于 2012-8-16 08:05:44
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